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Only Gold!

  • #6,201
  • Apr 7, 2014 10:19am Apr 7, 2014 10:19am
Using Gartley Indicators.

In First Picture in H1, we see Huge Bearish Gartley, that makes it go up to 1390.

Meanwhile in Second picture,
In M30, we see Bearish Gartley, that makes it go down to 1275


So, which trend will win?

Bearish or bullish?
Attached Image (click to enlarge)
Click to Enlarge Name: H1.JPG Size: 57 KB
Attached Image
  • #6,202
  • Apr 7, 2014 10:19am Apr 7, 2014 10:19am
Quoting ClockTrader
{quote} Thanks for your view mate. But, I don't understand at least half of the analysis people share here. Over 8 yrs, I didn't know Fibo until few months back. I thought it was some kind of Rocket Science. When I tried I didn't like it at all. The remainder 50% analysis that I can understand here is completely out of my analytical scope. I could never ever understand or feel convinced with Nitsan's analysis either, although he is a very good trader without any doubt.
all respect to you mate, i understand any missing point ill be happy to explain , could you share how you see ur chart and how you trade it whats exactly you see under ur analytical scope
i may be missing something
Senior Trader Multi-Account Manager
  • #6,203
  • Apr 7, 2014 10:37am Apr 7, 2014 10:37am
Quoting ClockTrader
{quote} Thanks for your view mate. But, I don't understand at least half of the analysis people share here. Over 8 yrs, I didn't know Fibo until few months back. I thought it was some kind of Rocket Science. When I tried I didn't like it at all. The remainder 50% analysis that I can understand here is completely out of my analytical scope. I could never ever understand or feel convinced with Nitsan's analysis either, although he is a very good trader without any doubt.
fibos work in some pairs, in my few experience with Gold they are not usually good indicators, same than Gartley Patterns.

what ive seen gold react big to EMA H4 + Resistance-Support, Trend Lines and the Price Action, Everytime there is a Gold sell off and bouce at support, u wait for 3 bars M5, M15 to turn green and then 80% of the time you can enter a safe trade. time to decide to keep or not the trade.

Parabolic Sars indicator work very nicely with gold, if you know how to use this indicator well.
  • #6,204
  • Apr 7, 2014 10:37am Apr 7, 2014 10:37am
could be looking to add long sl still manage ??
  • #6,205
  • Apr 7, 2014 10:38am Apr 7, 2014 10:38am
Quoting samalmoore
{quote} (No offence to any bears out there!!!! I'm in long at the moment - incase you hadn't guessed )
  • #6,206
  • Apr 7, 2014 10:39am Apr 7, 2014 10:39am
Quoting elbert3
could be looking to add long sl still manage ??
A trade should be based on an assumption based on facts
  • #6,207
  • Apr 7, 2014 10:42am Apr 7, 2014 10:42am
Quoting elbert3
could be looking to add long sl still manage ??
wait for @1290 to see what happens, thats the leg of the friday uptrend.

Attached Image (click to enlarge)
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Merry Linch/Bank of America are one of the biggest Gold price movers, when they say short gold big, market hears.
if someone wanna be in touch of whats happening in gold market go to : http://www.kitco.com/
  • #6,208
  • Apr 7, 2014 10:50am Apr 7, 2014 10:50am
Quoting ClockTrader
In order to while away time, a tiny call Sell @ 1301, SL @ 1304 its against current trend, valid for 4 - 12 hrs or a session or two. play light, very light
This expires at about 5:00 - 07:00 pm NY [EST]

Hello World!
  • #6,209
  • Apr 7, 2014 10:53am Apr 7, 2014 10:53am
everything is down today! the markets, usd index has fallen, even us bonds...Strange day?! the close of the 4 hr candle should determine near term direction (either above or below the spinning top)...Also on the 4 hr chart Gold should find support on the 20/21 day ema. Its a hazy day! <but if this remains the case all day, we will have an inside candle on the daily chart, a break of which could send the price up further on in the week.
  • #6,210
  • Apr 7, 2014 11:03am Apr 7, 2014 11:03am
hi guys , im just new bie ...from my indicator n all ur prediction i sell 1297.00 SL 1301
Happy trading
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  • #6,211
  • Apr 7, 2014 12:13pm Apr 7, 2014 12:13pm
Quoting acidguy
{quote} wait for @1290 to see what happens, thats the leg of the friday uptrend. {image} Merry Linch/Bank of America are one of the biggest Gold price movers, when they say short gold big, market hears. if someone wanna be in touch of whats happening in gold market go to : http://www.kitco.com/
Hi Can you share your indicator which is just right above the right side of RSI?
  • #6,212
  • Apr 7, 2014 12:27pm Apr 7, 2014 12:27pm
I am holding shorts open from last week...at least until Wednesday's FOMC minutes.
"The market can remain irrational longer than you can remain solvent"
  • #6,213
  • Apr 7, 2014 12:39pm Apr 7, 2014 12:39pm
Quoting acidguy
{quote} wait for @1290 to see what happens, thats the leg of the friday uptrend. {image} Merry Linch/Bank of America are one of the biggest Gold price movers, when they say short gold big, market hears. if someone wanna be in touch of whats happening in gold market go to : http://www.kitco.com/
Hey Acid, how good is the probability meter you have in your graph? can you tell what is it based on? just saw it and find it interesting.
  • #6,214
  • Apr 7, 2014 1:34pm Apr 7, 2014 1:34pm
Quoting acidguy
{quote} wait for @1290 to see what happens, thats the leg of the friday uptrend. {image} Merry Linch/Bank of America are one of the biggest Gold price movers, when they say short gold big, market hears. if someone wanna be in touch of whats happening in gold market go to : http://www.kitco.com/
hi yes i was just looking, i know you said gold does not act with the fibs , but the 1290 is just about on the 61 fib from the last low and should meet the 200 on its way up,, regards E
  • #6,215
  • Apr 7, 2014 1:58pm Apr 7, 2014 1:58pm
Quoting samalmoore
{quote} I must say that I don't mind being wrong, after all I'm not claiming to be a master of the markets, only a student.... however, drop the flag into 1H and... {image} [Edit] P.S. I have read something similar, I remember it being close to 15 though which still doesn't fit on the 1 hour, but on the 4 hour I find you can often work your own lines and ideas into what has happened retrospectively
okay I see what you mean now...now to think about it,, it is quite debatable as we can always see from higher timeframe (15min didn't work out, look at 1H)..
I think it is still possible price will break out...

I think in this case, if we apply one more filter (volume), it will makes the probability higher.
Again, I remember I have read somewhere that in most patterns, volumes tend to decrease from start of pattern until the breakout point(sudden increase).
But, in this case, if we look at H1 and H4 chart, both are "periodic" since volume is higher during the short 4 hours interval when all Asia, Europe and NY session intersect.
So to get an accurate feeling, let's look at daily volume...maybe after it drops to 1285-1290 area with decreasing volume, can put a buy stop above it in case of breakout...

PS: I am a newbie so I may not be right. Just share what I think. It is good to learn from each other
happy learning!!
  • #6,216
  • Apr 7, 2014 4:42pm Apr 7, 2014 4:42pm
Quoting samalmoore
{quote} (No offence to any bears out there!!!! I'm in long at the moment - incase you hadn't guessed )
The bears will surely win this war...look at hgher TF they are still showing bearish bias...the last week bullish move could not even take out the daily 13 SMA.
For we to go up at all... Price must go down to gather enough strength.... Am on Ipad now i will,post my chart when am on my pc
  • #6,217
  • Apr 7, 2014 5:30pm Apr 7, 2014 5:30pm
XAUUSD gold is consolidating within a wide $260 range. With gold this week at $1300, its currently in the middle of the range from $1180 to $1440. Price action suggests a possible double or triple bottom. No strong directional opinion as gold is stuck in middle of $1180 to $1440. I would look to trade gold near the edges of the range. Possible trades. Long gold around 1200, or short gold around 1400 seems the best reward/risk play.




Long gold XAUUSD 1200-10
SL 1150
TP 1400




http://i62.tinypic.com/9bkxao.png
  • #6,218
  • Apr 7, 2014 6:36pm Apr 7, 2014 6:36pm
forexgame. please can you explain how to predict those moves ?
thanks.
if it work i will use it too.
he, alone, was to blame for his losses in the zero-sum game
  • #6,219
  • Apr 7, 2014 6:52pm Apr 7, 2014 6:52pm
Comoe he's using support and resistance together with fibo
  • #6,220
  • Apr 7, 2014 7:28pm Apr 7, 2014 7:28pm
Anyone see a cup and handle here on the weekly??

Attached Image (click to enlarge)
Click to Enlarge Name: goldmicroweekly.png Size: 39 KB


Just can't help feeling that after such a prolonged move up (More than a decade of steady rising), and then this two year retracement, that gold will increase more and more. Remember guys, many reserve banks use gold as a base currency, gold is the ONLY currency with no liability attached to it.

Look at how the Chinese feel about gold and the USD as the world reserve currency.

http://www.exposingthetruth.co/china...erve-currency/

I just can't see Gold going too much lower than it is at the moment, I am still hoping for a bit of strength, then probably a retest of recent lows, maybe even some new lows on spikes, but I do think that gold will be on the way up soon.

Just my longer term thoughts on this beautiful metal, any opposing opinions welcome.

Short term I'm still long TP 1311, SL 1294...

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