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  • #8,181
  • May 6, 2014 10:13am May 6, 2014 10:13am
ight now bullish sentiment on M5 and M15, hope it peaks out soon.

Given the current scenario, buying somewhere around 1280-90 may be the key IF it falls and reaches there and IF timing supports. Its too early to talk about all that. Right now it needs to peak out on M5 and M15



it will drop sooner or later
  • #8,182
  • May 6, 2014 10:37am May 6, 2014 10:37am
Quoting elbert3
{quote} {image} yes me too, this is were the 1307.5 comes into it switch back to the 4 hour the 10 imght just come up to that number,, so i am still looking here ?? tp and long same
GOOD AFTERNOON been watching as on the cable thread above order taken could buy again 1302 if ti goes lower
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i dont like the lower 1298 area as it takes us back out of the tl ,,target the X IF IT STAYS LONG
  • #8,183
  • May 6, 2014 10:43am May 6, 2014 10:43am
I'm short to 1,297.00
Life is too short to have anything but delusional notions about yourself.
  • #8,184
  • May 6, 2014 10:51am May 6, 2014 10:51am
is it possible to go short now?
  • #8,185
  • May 6, 2014 10:56am May 6, 2014 10:56am
Quoting mcgross
is it possible to go short now?
I certainly am. Been short since 1,312.
Life is too short to have anything but delusional notions about yourself.
  • #8,186
  • May 6, 2014 11:00am May 6, 2014 11:00am
About time, 12 pm NY

I would suggest tread with caution, trade ultra light, if you wish to test shorts. Unfortunately, it does not look like an exciting opportunity to test shorts anymore. I have already mitigated risk from my test shorts and kind of on sidelines.

Its your money, you are the best judge on how to handle it. Trade light, trade safe.

Wish you all a good one.
Hello World!
  • #8,187
  • May 6, 2014 11:26am May 6, 2014 11:26am
Quoting ClockTrader
About time, 12 pm NY I would suggest tread with caution, trade ultra light, if you wish to test shorts. Unfortunately, it does not look like an exciting opportunity to test shorts anymore. I have already mitigated risk from my test shorts and kind of on sidelines. Its your money, you are the best judge on how to handle it. Trade light, trade safe. Wish you all a good one.
Yeah...Price has gone flat for the time being! Its an inside candle on the day...the price should continue up tomorrow. Although a retracement is due at some time too... so one has to be careful!

On the daily chart the bullish news is that price is above 200sma but below 50 sma. ( I think this is where the confusion lies...) At some point the price has to break out of this congestion...
  • #8,188
  • May 6, 2014 11:30am May 6, 2014 11:30am
if dow tanks and usd becomes strong gold will fly to 1350 easy.everythings ok as far as important numers go so dow should have been hitting new high. the reason its going down has to be old boy Putin.
  • #8,189
  • May 6, 2014 11:38am May 6, 2014 11:38am
Quoting goldfinger
if dow tanks and usd becomes strong gold will fly to 1350 easy.everythings ok as far as important numers go so dow should have been hitting new high. the reason its going down has to be old boy Putin.
Ive been saying this for a few days now... Dow and s&P are demanding a correction... This just might trigger panic coupled with escalation of ukraine can really make gold jump up... therefore any sentiments for opening sells for the short to medium term should be traded very very carefully!
  • #8,190
  • May 6, 2014 11:58am May 6, 2014 11:58am
Based on $1303 (23.6) holding
Attached Image (click to enlarge)
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To live a successful life, we must lose our fear of being wrong
  • #8,191
  • May 6, 2014 12:58pm May 6, 2014 12:58pm
hello gold people. please I need help in sentiment gauging especially on intra day basis. an indicator or even a lecture is welcomed. thanks
  • #8,192
  • May 6, 2014 1:30pm May 6, 2014 1:30pm
Quoting zee1111
hello gold people. please I need help in sentiment gauging especially on intra day basis. an indicator or even a lecture is welcomed. thanks
Just study candlesticks thoroughly & always judge trend from a higher time frame!
  • #8,193
  • May 6, 2014 1:47pm May 6, 2014 1:47pm
Quoting waleed.khan
{quote} Just study candlesticks thoroughly & always judge trend from a higher time frame!
thanks. but wat do you consider long time frame when day trading?
  • #8,194
  • May 6, 2014 2:00pm May 6, 2014 2:00pm
Quoting hoss
{quote} I certainly am. Been short since 1,312.
Great ..
traderbandung.blogspot.com
40%more All Time Return: 10.5%
  • #8,195
  • May 6, 2014 2:02pm May 6, 2014 2:02pm
Quoting zee1111
{quote} thanks. but wat do you consider long time frame when day trading?
weekly, daily, 4 hr...

One should generally start their day by looking at weekly (where it is? and where it might be headed?)
Same thing with daily ( where it is? where it might be headed?)
Same thing with 4 hr chart....

Now depends on what time frame you want to trade... See the chart of one time frame above that! After seeing all of this. The picture becomes clearer; and just generally depending you are momentum trader You should trade in the direction of the trend. The more all the charts align; the more likely the trade will go in your favor!

You should first know what kind of trader you are...momemtum, scalper, counter trend etc... say if you like to counter trend you can draw support resisitence lines and based on risk reward ratio pick trades based on that!

But generally price action (candlestick) trading is a leading indicator; everything else is lagging! therefore one should try to master price action!

Hope I helped! cheers!
  • #8,196
  • May 6, 2014 2:05pm May 6, 2014 2:05pm
Quoting waleed.khan
{quote} weekly, daily, 4 hr... One should generally start their day by looking at weekly (where it is? and where it might be headed?) Same thing with daily ( where it is? where it might be headed?) Same thing with 4 hr chart.... Now depends on what time frame you want to trade... See the chart of one time frame above that! After seeing all of this. The picture becomes clearer; and just generally depending you are momentum trader You should trade in the direction of the trend. The more all the charts align; the more likely the trade will go in your...
Nicely said!!!
I am still learning and you are helping a lot! Thanks!
GL
  • #8,197
  • May 6, 2014 2:10pm May 6, 2014 2:10pm
Quoting waleed.khan
{quote} weekly, daily, 4 hr... One should generally start their day by looking at weekly (where it is? and where it might be headed?) Same thing with daily ( where it is? where it might be headed?) Same thing with 4 hr chart.... Now depends on what time frame you want to trade... See the chart of one time frame above that! After seeing all of this. The picture becomes clearer; and just generally depending you are momentum trader You should trade in the direction of the trend. The more all the charts align; the more likely the trade will go in your...
thanks a lot. u have been of great help. I will try out ur lesson. thanks a lot.
  • #8,198
  • May 6, 2014 2:12pm May 6, 2014 2:12pm
Quoting Arkfly
{quote} Nicely said!!! I am still learning and you are helping a lot! Thanks! GL
I'm glad I helped... I wish I could have had somebody teach me too and that I was smart enough to actually ask for help! Unfortunately I learned these things the hard way! but the learning curve can never end in trading... Basics can only take you so far...! Every day is a different day!
  • #8,199
  • May 6, 2014 2:26pm May 6, 2014 2:26pm
Quoting waleed.khan
{quote} I'm glad I helped... I wish I could have had somebody teach me too and that I was smart enough to actually ask for help! Unfortunately I learned these things the hard way! but the learning curve can never end in trading... Basics can only take you so far...! Every day is a different day!
True!...I started with great loses and...now I am trying to recover and start adding some to my pocket...
  • #8,200
  • May 6, 2014 2:28pm May 6, 2014 2:28pm
Quoting zee1111
{quote} thanks a lot. u have been of great help. I will try out ur lesson. thanks a lot.
No problem... If you are just starting out; I encourage you to read a few books on trading! so that you understands the ins and outs of TA, Risk management and especially individual (personal) psychology!
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