Only Gold! | Page 388 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Journal (only my take) 433 replies

Trading gold and silver only 59 replies

An idea for building wealth...using only gold 9 replies

GOLD traders only 90 replies

Attachments: Only Gold!
Exit Attachments

Only Gold!

  • #7,741
  • Apr 29, 2014 8:21am Apr 29, 2014 8:21am
Quoting ClockTrader
{quote} I was testing longs, small profits, but look good when these occur on over half a dozen accounts. It was worth testing.
Booked majority of profit, hedged some, left some with +ve or protective SL
Hello World!
  • #7,742
  • Apr 29, 2014 8:50am Apr 29, 2014 8:50am
Quoting farukh
{quote} thank u for ur comprehensive analysis. actually i have very low equity so right now i m testing my strategies in intraday trading. i m targeting more on small profits on daily basis. at the same time waiting for some rally so that i can enter n get some good equity to trade long terms. right now situation is very confusing, isn't it? its wondering around an area n not clear where to move longer period of time.
No problem man!

Yes it very confusing; as there is a tug and pull between 50% fib extension levels and 61.8% retracement level... (Also the 50 ema is moving exactly sideways on the daily chart and whenever this happens it generally becomes very difficult to trade...)

Even though recent price action does seem to suggest that the 50% bullish retracement has just taken place and now if gold sustains above 1302 (closing price) today; it will indicate a near term rally to 1330. Otherwise 1278-80 level must hold in order to avoid a bearish bias!

*Must watch out for consumer confidence report*
  • #7,743
  • Apr 29, 2014 8:58am Apr 29, 2014 8:58am
if consumer confidence is high will it push gold down?
  • #7,744
  • Apr 29, 2014 9:02am Apr 29, 2014 9:02am
Quoting goldfinger
if consumer confidence is high will it push gold down?
Yes in theory that is what should happen... (but since there is so much going on affecting the price of gold; its hard to predict what should happen...)

If it comes as forecasted then not much happens because (it is already priced in)
  • #7,745
  • Apr 29, 2014 9:11am Apr 29, 2014 9:11am
Crucial point, should see massive upside if 1302 is taken out.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 46 KB
"Where you want to be is always in control, never wishing, always trading.
  • #7,746
  • Apr 29, 2014 9:24am Apr 29, 2014 9:24am
Quoting ClockTrader
{quote} Booked majority of profit, hedged some, left some with +ve or protective SL
nice call.
  • #7,747
  • Apr 29, 2014 9:25am Apr 29, 2014 9:25am
Quoting elbert3
{quote} ok pp on 2 shorts now 1290.00 and bring down as and when,, target now 1287.5 could retrace a little here then short again ,, target 1282.5 tp this target and i am putting a buy order same place
profit was stopped it could long at 1297, back to the 20 ema or just break out here , so long order 1298, and long order 1301 and managing the sl all eyes on the possible break uo to 1315 again and a sell order there for me ,, phew lets hope its right
  • #7,748
  • Apr 29, 2014 9:28am Apr 29, 2014 9:28am
Quoting elbert3
{quote} profit was stopped it could long at 1297, back to the 20 ema or just break out here , so long order 1298, and long order 1301 and managing the sl all eyes on the possible break uo to 1315 again and a sell order there for me ,, phew lets hope its right
plan be 1291, short ... going long before it goes 1301
  • #7,749
  • Apr 29, 2014 9:36am Apr 29, 2014 9:36am
Quoting Spec_And
Crucial point, should see massive upside if 1302 is taken out. {image}
Exactly what I am looking at...

Plus the fact that PA is holding the 100 day SMA on the daily...
  • #7,750
  • Apr 29, 2014 9:44am Apr 29, 2014 9:44am
Quoting Spec_And
Crucial point, should see massive upside if 1302 is taken out. {image}
Btw I have no positions, will not go long unless these levels are taken out.
"Where you want to be is always in control, never wishing, always trading.
  • #7,751
  • Apr 29, 2014 11:22am Apr 29, 2014 11:22am
Quoting elbert3
{quote} ok pp on 2 shorts now 1290.00 and bring down as and when,, target now 1287.5 could retrace a little here then short again ,, target 1282.5 tp this target and i am putting a buy order same place
lost some money juggling for position,, as i did not want to chance a big break out looks like plan b above has now kicked in .
  • #7,752
  • Apr 29, 2014 11:35am Apr 29, 2014 11:35am
4HR bearish pin bar rejecting daily trendline for the past 4 weeks. Looking to short soon.
  • #7,753
  • Apr 29, 2014 11:44am Apr 29, 2014 11:44am
Quoting elbert3
{quote} lost some money juggling for position,, as i did not want to chance a big break out looks like plan b above has now kicked in .
Yes they are now saying: "russia is ready to retaliate to sanctions...", "holding talks with N.Korea"... Ukraine calling for the start of "WWIII".." u.s saying "further sanctions to come if Russia doesn't change their stance..." No way this market is falling any time soon...
  • #7,754
  • Apr 29, 2014 12:00pm Apr 29, 2014 12:00pm
Leaving this chart here, in case anybody has similar POV
Attached Image (click to enlarge)
Click to Enlarge Name: gold_29-04-2014_m30.png Size: 42 KB

I remind - the bottom "indicator" is cumulated difference between "buy by market" and "sell by market" orders.
  • #7,755
  • Apr 29, 2014 12:23pm Apr 29, 2014 12:23pm
Quoting Super_Mario
Leaving this chart here, in case anybody has similar POV {image} I remind - the bottom "indicator" is cumulated difference between "buy by market" and "sell by market" orders.
I got a similar view, but it doesn't say much about future direction... other than the fact that 1290 - 1310 is a congestion zone.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 45 KB
"Where you want to be is always in control, never wishing, always trading.
  • #7,756
  • Apr 29, 2014 12:31pm Apr 29, 2014 12:31pm
Quoting Spec_And
I got a similar view, but it doesn't say much about future direction
Then it's not similar POV
  • #7,757
  • Apr 29, 2014 12:33pm Apr 29, 2014 12:33pm
Quoting Super_Mario
{quote} Then it's not similar POV
We see the same thing but technical analysis is open to subjective interpretation, what do you see? Higher? Rationale behind it?
"Where you want to be is always in control, never wishing, always trading.
  • #7,758
  • Apr 29, 2014 12:45pm Apr 29, 2014 12:45pm
Quoting Spec_And
We see the same thing
Sure, price chart is same for everyone, everyone just makes his own conclusions.
I am just wondering if anyone here understands what I try to say/show on chart - in that case we possibly could discuss further details for our mutual benefit.
I'm not spamming with my graphs too often to make this annoying.
  • #7,759
  • Apr 29, 2014 12:53pm Apr 29, 2014 12:53pm
Quoting Super_Mario
{quote} Sure, price chart is same for everyone, everyone just makes his own conclusions. I am just wondering if anyone here understands what I try to say/show on chart - in that case we possibly could discuss further details for our mutual benefit. I'm not spamming with my graphs too often to make this annoying.
Well I can understand your chart, those are high volume zones (~1300) that you marked out, but what conclusions did you draw from it?

I'd be happy to hear your views.
"Where you want to be is always in control, never wishing, always trading.
  • #7,760
  • Apr 29, 2014 1:05pm Apr 29, 2014 1:05pm
Quoting Spec_And
those are high volume zones (~1300) that you marked out
No (even on your chart with volumes they are not).
I just marked the points where price crosses 1300 (randomly choosen price) so it's easier to see the bottom chart and compare the substance of "trading floor noise" for the same price levels.
19 traders viewing now