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  • #8,061
  • May 5, 2014 10:37am May 5, 2014 10:37am
2B confirmation could be a sign of change in up movement. Because rising wedge down break on H1 is already working with a target of 1306. If it breaks and closes below 1306. That would also confirm 2B pattern. So possibly that could make the price move more down. But any bullish signal in that zone would be a buy for me.

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Demo trading is so cool !!! Hehehe Cheers !!!!
  • #8,062
  • May 5, 2014 10:40am May 5, 2014 10:40am
Quoting ajantala
{quote} One question ones needs to ask himself is this, ' Is Warren or Gates a day-trader?Of course not! These guys have motherloads of money to invest for the long term so if I were you I would not listen to the likes of them I would be asking is there any trader out there who trades Gold profitably? If there is, and I am sure there are a lot, then those are the ones to listen to not some investor tycoon who has never daytraded his whole life.
Precisely its a whole different mind set... Hence whenever they talk or spek bout something.. these things should be taken into account!

John paulson made his money by investing in gold...but he too is not a "day trader"

so you are right..one must see the medium first!
  • #8,063
  • May 5, 2014 10:43am May 5, 2014 10:43am
Quoting ClockTrader
{quote} There is a paid indicator "smart VSA", old free versions are there too for practice, Google it and you'll find something. Do some back-study and I'm sure you'll find something useful. Whatever system you follow or develop, keep in mind that it takes 3 - 6 months at least to get to a good level.
Plus i am not a fan of paid indicators.. i like to get the strategy and then test myself! which is how it should be...
  • #8,064
  • May 5, 2014 10:46am May 5, 2014 10:46am
Quoting elbert3
{quote} pp was hit might be overly cautious , better safe than sorry lets see now
looking to go long 1303, but it will be lower the i would like ?? in fact it could turn bearish at that level the 4 hour is bull ?? this could be a false move up,?? it does not fit right some how ??
  • #8,065
  • May 5, 2014 10:47am May 5, 2014 10:47am
Quoting elbert3
{quote} looking to go long 1303, but it will be lower the i would like ??
Why 1303? Fib level is much lower?!
  • #8,066
  • May 5, 2014 10:50am May 5, 2014 10:50am
always operate with the trend
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  • #8,067
  • May 5, 2014 10:51am May 5, 2014 10:51am
just gone short 1308 sl manage for a bit ??
  • #8,068
  • May 5, 2014 10:53am May 5, 2014 10:53am
Even with sh!tloads of money Buffet has failed in Forex, lost billions of $$s, apparently, they don't share such things openly so not to hurt investor interest in their companies, Google and you'll find loads of info on this.

Being that said, I repeat either Buffet failed to understand how Gold waves on monthly OR he got scared after seeing losses of Gold investors. Either way I don't regard him as a good mentor when it comes to investing in Gold, let alone day trading.


Au @ 1308 and I am feeling much better. Just hope it doesn't bounce back while I'm sleeping.

Its about time, 12 pm NY, time to crash, wish you all a good one.

PS: Trade safe, trade light fellas.

Quoting ajantala
{quote} One question ones needs to ask himself is this, ' Is Warren or Gates a day-trader?Of course not! These guys have motherloads of money to invest for the long term so if I were you I would not listen to the likes of them I would be asking is there any trader out there who trades Gold profitably? If there is, and I am sure there are a lot, then those are the ones to listen to not some investor tycoon who has never daytraded his whole life.
Hello World!
  • #8,069
  • May 5, 2014 10:56am May 5, 2014 10:56am
Quoting waleed.khan
{quote} Why 1303? Fib level is much lower?!
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it could come back to the 10 ema and and confirm long .. or come back into the tl as a pull back the 1315 could of been the pull back .. if that makes sense i should of kept going before with the short ,but pp to early
  • #8,070
  • May 5, 2014 11:02am May 5, 2014 11:02am
4H bearish close for me. Looking for 1302 now. Bearish divergence + CCI break downwards.
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A 1 pip gain is better than a 1 pip loss.
  • #8,071
  • May 5, 2014 11:12am May 5, 2014 11:12am
Quoting ajantala
{quote} One question ones needs to ask himself is this, ' Is Warren or Gates a day-trader?Of course not! These guys have motherloads of money to invest for the long term so if I were you I would not listen to the likes of them I would be asking is there any trader out there who trades Gold profitably? If there is, and I am sure there are a lot, then those are the ones to listen to not some investor tycoon who has never daytraded his whole life.
I would like to chime in on this as well. There is a HUGE difference between trading and investing. While the trading and investing environments are ultimately the markets...they are not the same at all. The trading game is far more active and attempts to exploit market anomalies on a specific time frame usually far shorter than investing.

Investing is just that...INVESTING...like buying a house...you don't expect to turn the house around in a few months for a profit. At least not if your are successful. You hold for years...sometimes decades as you expect the value of your investment to be worth more after that time frame. Investors to not concern themselves with every little twist turn and wiggle in the price that we do here as traders.

A gold investor buys PHYSICAL gold and holds it for 10-25-50 or more years...those that did this over the past 10-25-50 years have realized a good profit on their investment (assuming they sold it today). The investment mentality is much longer....the trader mentality is far shorter...trading is far more difficult.
  • #8,072
  • May 5, 2014 11:28am May 5, 2014 11:28am
have a hope go down!
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One Day U Will Miss me!
  • #8,073
  • May 5, 2014 11:34am May 5, 2014 11:34am
Quoting aeternum
4H bearish close for me. Looking for 1302 now. Bearish divergence + CCI break downwards. {image}
I was wondering what are your views about the 1hr hidden divergence in Gold. As I am starting to learn about divergence. Moreover 1306 region could be till 1302 seems like a good support for now.

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  • #8,074
  • May 5, 2014 12:15pm May 5, 2014 12:15pm
Quoting elbert3
{quote} {image} it could come back to the 10 ema and and confirm long .. or come back into the tl as a pull back the 1315 could of been the pull back .. if that makes sense i should of kept going before with the short ,but pp to early
so you're using the 10 ema on the 4 hr... Yes thts plausible on the 4 hr chart!

On the 1 hr though there is good divergence plus it seems to be holding the 20 ma.

As it is I just don't see the market closing below todays open! which is 1299-1302! Plus there is good support in the 1306-08 region!
  • #8,075
  • May 5, 2014 12:28pm May 5, 2014 12:28pm
Quoting waleed.khan
{quote} so you're using the 10 ema on the 4 hr... Yes thts plausible on the 4 hr chart! On the 1 hr though there is good divergence plus it seems to be holding the 20 ma. As it is I just don't see the market closing below todays open! which is 1299-1302! Plus there is good support in the 1306-08 region!
yes what your saying is what i want to see,i think i will trade it as a buy on the 1303 but then it breaks support ?? it seems a strange set up
  • #8,076
  • May 5, 2014 12:30pm May 5, 2014 12:30pm
Quoting waleed.khan
{quote} so you're using the 10 ema on the 4 hr... Yes thts plausible on the 4 hr chart! On the 1 hr though there is good divergence plus it seems to be holding the 20 ma. As it is I just don't see the market closing below todays open! which is 1299-1302! Plus there is good support in the 1306-08 region!
the other way is the 10 gets above todays open and price does not move much more,, so does one tp at 1306 ish and go long ????
  • #8,077
  • May 5, 2014 12:33pm May 5, 2014 12:33pm
Quoting waleed.khan
{quote} so you're using the 10 ema on the 4 hr... Yes thts plausible on the 4 hr chart! On the 1 hr though there is good divergence plus it seems to be holding the 20 ma. As it is I just don't see the market closing below todays open! which is 1299-1302! Plus there is good support in the 1306-08 region!
i am going to try tp and buy 1307.5
  • #8,078
  • May 5, 2014 1:17pm May 5, 2014 1:17pm
Quoting Superchor
{quote} I was wondering what are your views about the 1hr hidden divergence in Gold. As I am starting to learn about divergence. Moreover 1306 region could be till 1302 seems like a good support for now. {image}
I see another hidden divergence
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(Red bottom "indicator" is cumulative differences between buy and sell market orders)
  • #8,079
  • May 5, 2014 1:27pm May 5, 2014 1:27pm
Quoting elbert3
{quote} i am going to try tp and buy 1307.5
Have you gone long already...?

If you haven't I suggest not too as volume and volatility has died out and in asia session market can retrace a little too..

Today I bought at 1307 and sold at 1312 (on its retracement). I now have buy orders at 1312 and stop orders at 1299. Hopefully the market is going to catch a direction at these points by asia or europe sessions later...

Its very tough to judge at this stage the exact point for a retracement and getting into a position now with an unconfirmed trend can lead to losses...
  • #8,080
  • May 5, 2014 1:35pm May 5, 2014 1:35pm
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Nothing Is Certain In The Universe
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