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  • #7,941
  • May 2, 2014 10:41am May 2, 2014 10:41am
I would be patient until Re-Opening and maybe even as long as NY Monday session before hitting the "Sell" button.
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  • #7,942
  • May 2, 2014 10:45am May 2, 2014 10:45am
for all we know it could be BUfFET moving the market too...

Housing recovery slower than I thought: Buffett http://www.financialjuice.com/news/970287/Housing-recovery-slower-than-I-thought-Buffett.aspx
  • #7,943
  • May 2, 2014 10:47am May 2, 2014 10:47am
Quoting elbert3
{quote} spot on looking to short same area ,, trend still looks short gl regards E
{quote} Below is what I would like to say, got hit today while trying longs. Sell Range: 1285 - 1298, SL @ 1305-15 PS: Monday re-opening looks volatile, could be bullish re-opening. PPS: I plan to invoke my investor strategy next month, latest by June end.
spot on looking to short same area ,, trend still looks short gl regards E
short 1300 .5 x4 bigish lot so tight sl,, a break above go long this might be short lived to the 20 ema on the 15 min
  • #7,944
  • Edited 12:55pm May 2, 2014 10:54am | Edited 12:55pm
On a serious note this is what i think is happening...

you see the day everyone expected the market to fall it re"bounced" from 1267...those were big institutional buys. After that the market stagnated and the bears were perceived as taking over... so the poor retail investors start loading onto their shorts and building a bearish bias (also they had news to support them)

and again today at one point it was obvious that the market will fall and it did to 1272 but bounced...."again institutional buys" taking the retail investors shorts out...

The truth is ukraine and russia situation has always been on the radar; why is it that the market does something today..it is because with such a good nfp report they can fool the rest and get the best bang for their buck!

Since february volumes have gone up and these volumes are mainly instituitional traders and a few retail traders...and hence this market is still at the mercy of price manipulations.. Not until more retail investors start entering this market for a more bullish bias (like the one in the previous "bull run"... this market especially "GOLD" will act like this!
  • #7,945
  • May 2, 2014 10:58am May 2, 2014 10:58am
Quoting ClockTrader
I would be patient until Re-Opening and maybe even as long as NY Monday session before hitting the "Sell" button.
My patience broke and I just took a couple of test shorts to test the waters, despite the fact that I'm expecting gap-up re-opening.
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  • #7,946
  • May 2, 2014 11:04am May 2, 2014 11:04am
me too CT....
  • #7,947
  • May 2, 2014 11:05am May 2, 2014 11:05am
Quoting elbert3
{quote} {quote} Below is what I would like to say, got hit today while trying longs. Sell Range: 1285 - 1298, SL @ 1305-15 PS: Monday re-opening looks volatile, could be bullish re-opening. PPS: I plan to invoke my investor strategy next month, latest by June end. spot on looking to short same area ,, trend still looks short gl regards E short 1300 .5 x4 bigish lot so tight sl,, a break above go long this might be short lived to the 20 ema on the 15 min
Better trade light and keep SL farther,

my 2 gold coins!
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  • #7,948
  • May 2, 2014 11:17am May 2, 2014 11:17am
Quoting ClockTrader
{quote} Better trade light and keep SL farther, my 2 gold coins!
Count me in, Short @ 1301, T/P 1295, no stop at the minute, but will definitely close at the end of the day!

Hopefully should see a re-test of 1292 today itself.
  • #7,949
  • May 2, 2014 11:24am May 2, 2014 11:24am
Quoting workingforex
{quote} Count me in, Short @ 1301, T/P 1295, no stop at the minute, but will definitely close at the end of the day! Hopefully should see a re-test of 1292 today itself.
I doubt lower 90s today
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  • #7,950
  • May 2, 2014 11:32am May 2, 2014 11:32am
It was indeed a stormy Friday!

Wish you all Good Luck and have a great weekend!!


PS: Trade light, trade safe, if you have capital, there will always be another day here. If you are losing, try to lose slowly.
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  • #7,951
  • May 2, 2014 11:39am May 2, 2014 11:39am
Quoting ClockTrader
{quote} I doubt lower 90s today
I said 1292 as it is 38% fib level, but I am with you on it, hopefully.
  • #7,952
  • May 2, 2014 11:48am May 2, 2014 11:48am
I am in short now. 1295-1296 would be nice to see today.
  • #7,953
  • May 2, 2014 12:05pm May 2, 2014 12:05pm
I'm out, not bad for about 5-10 minutes worth of waiting. Wish every trade worked out like this. Missed the ride up though
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  • #7,954
  • May 2, 2014 7:50pm May 2, 2014 7:50pm
Quoting workingforex
{quote} I said 1292 as it is 38% fib level, but I am with you on it, hopefully.
Lower 90s mean 1290-91-92, I was right about this anyway.
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  • #7,955
  • May 2, 2014 9:51pm May 2, 2014 9:51pm
Quoting waleed.khan
{quote} Same to you.. but the week aint over as yet...bullish bias is still not confirmed... Best to stay out...until major support resistence (range bound levels are breached) Best to keep an open mind rather than being blindly biased!
agree.. the best is stay away for a while..
Trade with my own risk..
  • #7,956
  • May 2, 2014 10:58pm May 2, 2014 10:58pm
Quoting ClockTrader
{quote} Lower 90s mean 1290-91-92, I was right about this anyway.
Sell in May?
A 1 pip gain is better than a 1 pip loss.
  • #7,957
  • May 2, 2014 11:34pm May 2, 2014 11:34pm
Quoting aeternum
{quote} Sell in May?
not sure why you try to be funny most of the times instead of focusing and having a healthy discussion / debate?

Buying and selling can be done on any day / week / month of the year.
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  • #7,958
  • May 2, 2014 11:42pm May 2, 2014 11:42pm
Quoting ClockTrader
{quote} not sure why you try to be funny most of the times instead of focusing and having a healthy discussion / debate? Buying and selling can be done on any day / week / month of the year.
It's just my personality. I am a funny guy and I am rarely serious. But when I am serious, I tend to make a hustle. I'm currently creating a new chart. Will see how the new trading strategy goes before I start posting anything.

So on a more serious note, are you still looking for a gap up? I feel that we will fall on Monday by New York open.
A 1 pip gain is better than a 1 pip loss.
  • #7,959
  • May 3, 2014 12:17am May 3, 2014 12:17am
Quoting aeternum
{quote} It's just my personality. I am a funny guy and I am rarely serious. But when I am serious, I tend to make a hustle. I'm currently creating a new chart. Will see how the new trading strategy goes before I start posting anything. So on a more serious note, are you still looking for a gap up? I feel that we will fall on Monday by New York open.
Yes, I am expecting a gap-up, even if its like a $5 or little more. IF gap-up doesn't take place, I expect the climb to continue easily until London Morning at least, IMHO.

The re-opening and /or few hrs thereafter could be volatile as well, either way, I am expecting the price to climb.
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  • #7,960
  • May 3, 2014 12:24am May 3, 2014 12:24am
Quoting ClockTrader
{quote} Yes, I am expecting a gap-up, even if its like a $5 or little more. IF gap-up doesn't take place, I expect the climb to continue easily until London Morning at least, IMHO. The re-opening and /or few hrs thereafter could be volatile as well, either way, I am expecting the price to climb.
For discussion's sake, I am against your POV. Still trying out my new chart but I see 4H pointing down. Sadly its a weekend and anything could happen next week.

Edit: I see a max of 1311.8.
A 1 pip gain is better than a 1 pip loss.
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