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  • #6,521
  • Edited 3:39pm Apr 9, 2014 3:12pm | Edited 3:39pm
Quoting Super_Mario
{quote} Yep. Check today's deltas. Better cumulative deltas on M5. 3500 contracts with market execution, "out of blue".
Yeah...
I think the 400sma on the 1hr is actually showing resistance... Hopefully it will break through. I think this just might be a paradigm shift from the bearish view of hitting 1260; to now 1330 maybe even 1350... I think we need really good job numbers or something along those lines to change its direction (fundamentally)

Also there is a Hidden Bullish Divergenceon the 4 hr chart

https://www.tradingview.com/x/pEITmFs2/
  • #6,522
  • Apr 9, 2014 3:44pm Apr 9, 2014 3:44pm
Quoting waleed.khan
we need really good job numbers or something
All I tried to say in my previous post was "today everything was decided few hours before those news".
And also few days ago I tried to pass the idea that sometimes puppeteers cannot physically hide their preparations for the show.
These 2 are enough for bread and butter
  • #6,523
  • Apr 9, 2014 3:50pm Apr 9, 2014 3:50pm
LOL...

Yeah its kind of ironic.how a few days ago we were debating about finding reasons for gold to rally...! It is still premature to say this though! have to see what happens tommorow...

I didn't understand your bread and butter part...what were you referring too??
  • #6,524
  • Apr 9, 2014 3:54pm Apr 9, 2014 3:54pm
Quoting waleed.khan
LOL... Yeah its kind of ironic.how a few days ago we were debating about finding reasons for gold to rally...! It is still premature to say this though! have to see what happens tommorow... I didn't understand your bread and butter part...what were you referring too??
We can debate for hours, but outcome on chart is not decided by us
Bread and butter - I meant taking some steady profit from market which is able to cover someone's everyday needs Remembering that it all WILL end when you are TOO SURE and start increasing risks.
  • #6,525
  • Apr 9, 2014 4:02pm Apr 9, 2014 4:02pm
Quoting Super_Mario
{quote} Remembering that it all WILL end when you are TOO SURE and start increasing risks.
Very Wise...bee guilty of this a lot!

I'm wondering how asia open will take this situation... Continue rally or retracement???
  • #6,526
  • Apr 9, 2014 4:04pm Apr 9, 2014 4:04pm
Quoting Super_Mario
{quote} All I tried to say in my previous post was "today everything was decided few hours before those news". And also few days ago I tried to pass the idea that sometimes puppeteers cannot physically hide their preparations for the show. These 2 are enough for bread and butter
subtle
A trade should be based on an assumption based on facts
  • #6,527
  • Apr 9, 2014 4:13pm Apr 9, 2014 4:13pm
Quoting waleed.khan
I'm wondering how asia open will take this situation... Continue rally or retracement???
Will be clear after they touch 1315 again. Technically north runway is clear, question is are tanks fully loaded? Hope they are because I want some sleep ))
  • #6,528
  • Apr 9, 2014 4:22pm Apr 9, 2014 4:22pm
Quoting Super_Mario
{quote} Will be clear after they touch 1315 again. Technically north runway is clear, question is are tanks fully loaded? Hope they are because I want some sleep ))
My tanks are loaded :0 dunno about the rest...hope we don't gap down on asia open because that will be bad! but you are right uptrend is in place....it should hold!

i dunno if this was obvious...we were really headed south today. Take a look at this (peter hug) guys face he seemed really disheartened and was so wrong...its kinda funny!

http://www.kitco.com/news/video/show...For-Petes-Sake

Good night!
  • #6,529
  • Apr 9, 2014 4:23pm Apr 9, 2014 4:23pm
Quoting elbert3
{quote} just in time guys looking to break the tl on my chart 1322 ??
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 106 KB
up date pp now up hoping to break the trend line as before
  • #6,530
  • Apr 9, 2014 4:54pm Apr 9, 2014 4:54pm
Yellow line is end of day price.

Will it bull or bear tomorrow?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 37 KB
  • #6,531
  • Apr 9, 2014 5:09pm Apr 9, 2014 5:09pm
I think there is strong chance of uptrend...

Attached Image (click to enlarge)
Click to Enlarge Name: goldmicrodaily.png Size: 49 KB
  • #6,532
  • Apr 9, 2014 5:14pm Apr 9, 2014 5:14pm
what happened to polaris the young guy
  • #6,533
  • Apr 9, 2014 5:39pm Apr 9, 2014 5:39pm
Hi I am looking to trade gold not sure to spreadbet here in UK or CFD is better. What's the margins like with uk brokers?
Find your Favourite Pattern
  • #6,534
  • Apr 9, 2014 6:04pm Apr 9, 2014 6:04pm
Quoting samalmoore
I think there is strong chance of uptrend... {image}
Mate I think our ideas of what a cup and handle pattern look like are somewhat different , below is a link of what I look for http://thepatternsite.com/cup.html
  • #6,535
  • Edited 8:08pm Apr 9, 2014 7:12pm | Edited 8:08pm
Quoting eklein
{quote} Mate I think our ideas of what a cup and handle pattern look like are somewhat different , below is a link of what I look for http://thepatternsite.com/cup.html
Yeah mate, they do look quite different. I have only really been experimenting with chart patterns recently (even though I have looked at them quite a few times over the last couple of years) but what I have read is that patterns won't always be perfect. This obviously leaves them quite open to interpretation so I am trying to look more at the psychology of the move. For me a cup and handle means that price is moving up, reaches a point of resistance (left side of cup), moves down from resistance but there is no real commitment from the market so the price doesn't push down hard but rather goes down gradually, bottoms out and the rises gradually back towards resistance (right side of cup). Once it reaches resistance, there is a pullback (handle) and the the rise back towards resistance, hopefully resulting in a breakout.

I just thought while finishing this paragraph that this may seem like common sense to anyone who has thought about this before, but I will leave my explanation for the benefit of anyone who is interested (as I am) in hearing other people's opinions on why the market acts as it does and might be interested.

I am confidently long on gold, I see at least 1322 in the coming days, and hopefully more EDIT: So long as we can break 1316.23 (Re-edit from 1315)...
  • #6,536
  • Apr 9, 2014 7:30pm Apr 9, 2014 7:30pm
Looks like triple top on 4hr (as well as 30 minute charts), so perhaps we'll see another move through key support at 1300.
"The market can remain irrational longer than you can remain solvent"
  • #6,537
  • Apr 9, 2014 7:38pm Apr 9, 2014 7:38pm
Quoting samalmoore
{quote} Yeah mate, they do look quite different. I have only really been experimenting with chart patterns recently (even though I have looked at them quite a few times over the last couple of years) but what I have read is that patterns won't always be perfect. This obviously leaves them quite open to interpretation so I am trying to look more at the psychology of the move. For me a cup and handle means that price is moving up, reaches a point of resistance (left side of cup), moves down from resistance but there is no real commitment from the...
No worries mate,The other point Bulkowski makes is that continuation patterns are more reliable than reversal patterns, the only reason I made the post is if I am not understanding something I want to get it right and hopefully someone here can put me on the right track. Cheers thanks for the reply
  • #6,538
  • Apr 9, 2014 7:54pm Apr 9, 2014 7:54pm
Quoting anton.olff
Looks like triple top on 4hr (as well as 30 minute charts), so perhaps we'll see another move through key support at 1300.
possibly but do watch out for the hidden divergence on the 4hr chart....?

Cheers

https://www.tradingview.com/x/pEITmFs2/
  • #6,539
  • Apr 9, 2014 7:56pm Apr 9, 2014 7:56pm
Quoting samalmoore
{quote} I am confidently long on gold, I see at least 1322 in the coming days, and hopefully more EDIT: So long as we can break 1315...
Agreed! The double top yesterday was a good call...I could have easily taken advantage off that...:S
  • #6,540
  • Apr 9, 2014 7:59pm Apr 9, 2014 7:59pm
Quoting eklein
{quote} No worries mate,The other point Bulkowski makes is that continuation patterns are more reliable than reversal patterns, the only reason I made the post is if I am not understanding something I want to get it right and hopefully someone here can put me on the right track. Cheers thanks for the reply
Good man! That is also why I come to FF

Thanks for the pointer on looking for the cup n handle as continuation pattern rather than reversal, useful info!

What's your view on gold atm?
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