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  • #8,421
  • May 8, 2014 8:38pm May 8, 2014 8:38pm
Quoting comoestas
exact moves down to target {image}
That's not the right way to count Elliot waves. If you're counting down trends, 3 should be lower than 1. If up moves, 2 shouldn't be lower than starting move and 3 must be higher than one
A 1 pip gain is better than a 1 pip loss.
  • #8,422
  • May 8, 2014 8:57pm May 8, 2014 8:57pm
no.
what i said, was that the trader from the above chart predited the moves to the downside.

my chart is counting my 1,2 and 3 set but.
thanks
he, alone, was to blame for his losses in the zero-sum game
  • #8,423
  • May 8, 2014 9:41pm May 8, 2014 9:41pm
Right now too confusing to speculate, maybe its too early, I'll remain on sidelines, test key hrs both ways, will wait for London Morning, hope clear trend visible by NY morning.
Hello World!
  • #8,424
  • May 8, 2014 9:49pm May 8, 2014 9:49pm
Quoting ClockTrader
Right now too confusing to speculate, maybe its too early, I'll remain on sidelines, test key hrs both ways, will wait for London Morning, hope clear trend visible by NY morning.
May be at that time, the diamond pattern on H4 would finish to show the direction.
  • #8,425
  • May 8, 2014 10:21pm May 8, 2014 10:21pm
Quoting namaus
{quote} May be at that time, the diamond pattern on H4 would finish to show the direction.
Good catch buddy !!! Cheers
  • #8,426
  • May 8, 2014 10:21pm May 8, 2014 10:21pm
Quoting Xeet
Updated with chart. Daily doji, close above (~) SMA200, 61.8 Fibo (~between 76.4), RSI seems to be turning towards upward, Stochastics show oversold and it's Friday (Poll in Ukraine on 11th of May, possible riots). News should have minor impact on gold. There might be some dips for MMs to build over-the-weekend-longs. Only thing to have in mind is that there is a good Gartley pattern with potential target at 1250. Also, if not for Ukraine, gold wouldn't be that high - however, Ukraine might have become a catalyst for long-term bottom on Gold since...
rightly speculated. as this is the case and if we are considering the news then it is expected to move down.

Ukraine Renews Dialogue Offer as Russia Holds Army Drills
http://www.bloomberg.com/news/2014-0...my-drills.html

rest the work Gartley patter may do..
P.S. Trade with the discipline of Money Management and Risk Management.
  • #8,427
  • Edited 11:08pm May 8, 2014 10:22pm | Edited 11:08pm
Quoting waleed.khan
{quote} Ive never trading murray math lines myself; but why donèt you just draw your own support and resistance lines... to trade the 4hr draw support resistance lines from daily. To trade the 1 hr draw sp lines from 4hr and going down like that... I think drawing your own lines is better; as it takes into account recent price action more accurately as oppose to murrey lines; pivot points etc... Perhaps you can use these types of studies as an addon for confluence...
thank you for your input.
i'm trying to put what you said, on higher time frame. here is what i see in my chart. is there any preferred time to do the S/R drawing? (I preferred max zoom out of the timeframe to do this)

https://charts.mql5.com/4/656/xauusd-m30-monex.png

i think gold will go up here. support on 1285 area seems holding RSI also moving upward, it's also resemble fibo 61.8% from low in april 24th. (is it too far for gold?)
first target will be 1304 area
  • #8,428
  • May 8, 2014 11:07pm May 8, 2014 11:07pm
Bear power is waning, so there is a chance for a Bull run coming up in the next hour, we will dip first as we are about to enter a very small bear run that is not worth a short but a good opportunity to long on a dip.
A genius is born every minute, me I am lucky if my socks match.
  • #8,429
  • May 8, 2014 11:14pm May 8, 2014 11:14pm
So there I was at my favourite Scotch bar last night looking like a tosser with a laptop and phone trading.
By the end of the night I paid $60 for some top shelf drinks 30 year old scotch that you cannot buy by the bottle anymore and made $700+ trading in three hours.
Had a stellar week so far, up 59%.

In the Army we had a saying "kissed on the d**k by a fairy" and that is how I feel..
A genius is born every minute, me I am lucky if my socks match.
  • #8,430
  • May 8, 2014 11:42pm May 8, 2014 11:42pm
Quoting whackdiddy
So there I was at my favourite Scotch bar last night looking like a tosser with a laptop and phone trading. By the end of the night I paid $60 for some top shelf drinks 30 year old scotch that you cannot buy by the bottle anymore and made $700+ trading in three hours. Had a stellar week so far, up 59%. In the Army we had a saying "kissed on the d**k by a fairy" and that is how I feel..
Way to go buddy ... keep it up. Cheers !!!
  • #8,431
  • May 9, 2014 12:31am May 9, 2014 12:31am
Silver is looking at producing a nice buy opportunity at the moment.

Looking to enter around the 19.128 level, H4 showing a nice bull pattern forming.
A genius is born every minute, me I am lucky if my socks match.
  • #8,432
  • May 9, 2014 12:32am May 9, 2014 12:32am
Quoting whackdiddy
So there I was at my favourite Scotch bar last night looking like a tosser with a laptop and phone trading. By the end of the night I paid $60 for some top shelf drinks 30 year old scotch that you cannot buy by the bottle anymore and made $700+ trading in three hours. Had a stellar week so far, up 59%. In the Army we had a saying "kissed on the d**k by a fairy" and that is how I feel..
will touch 1269 and then bullish from there..
  • #8,433
  • May 9, 2014 12:39am May 9, 2014 12:39am
Quoting whackdiddy
So there I was at my favourite Scotch bar last night looking like a tosser with a laptop and phone trading. By the end of the night I paid $60 for some top shelf drinks 30 year old scotch that you cannot buy by the bottle anymore and made $700+ trading in three hours. Had a stellar week so far, up 59%. In the Army we had a saying "kissed on the d**k by a fairy" and that is how I feel..
While the outcome was indisputably excellent, I must agree that it would not have been a good look. Well done in any case...
  • #8,434
  • May 9, 2014 12:51am May 9, 2014 12:51am
Quoting Sacred Cut
{quote} will touch 1269 and then bullish from there..
24th of April Dailly low?
I hope so I have a short that I entered at 1270.00 that I would like escape from.
A genius is born every minute, me I am lucky if my socks match.
  • #8,435
  • May 9, 2014 12:59am May 9, 2014 12:59am
Quoting whackdiddy
So there I was at my favourite Scotch bar last night looking like a tosser with a laptop and phone trading. By the end of the night I paid $60 for some top shelf drinks 30 year old scotch that you cannot buy by the bottle anymore and made $700+ trading in three hours. Had a stellar week so far, up 59%. In the Army we had a saying "kissed on the d**k by a fairy" and that is how I feel..
Sounds like you are going to blow your account soon, trading way over leverage.. and taking your gold trade $45+ underwater, yet you are bullish on silver. Doesn't make sense.
  • #8,436
  • May 9, 2014 2:52am May 9, 2014 2:52am
bears bulls bears bulls...... Come on BULLS! win this fight already
  • #8,437
  • May 9, 2014 3:28am May 9, 2014 3:28am
entered long on GOLD.... Bears looking very powerful though...
  • #8,438
  • May 9, 2014 3:33am May 9, 2014 3:33am
Quoting Monkiman
entered long on GOLD.... Bears looking very powerful though...
Risky move my friend.. pattern doesn't look like a bottom. I'm looking at 1275 as next leg down. Then quick recovery as we are fairly oversold . One last shake of the tree to see who falls out hehe
  • #8,439
  • May 9, 2014 4:03am May 9, 2014 4:03am
Quoting Mitchoss
{quote} Risky move my friend.. pattern doesn't look like a bottom. I'm looking at 1275 as next leg down. Then quick recovery as we are fairly oversold . One last shake of the tree to see who falls out hehe
That's a very nice level!
What is a quick recovery, something like a spike or anything else visible on a 15 minute chart?
  • #8,440
  • May 9, 2014 4:15am May 9, 2014 4:15am
Quoting Karpa
{quote} That's a very nice level! What is a quick recovery, something like a spike or anything else visible on a 15 minute chart?
I don't tend to trade off anything less than a 1hr. Usually a 4hr/daily. You'll see most of my trades remain open for days rather than trying to scalp on lower time frames in the hight frequency times. Example, I won't open a trade around news events. I want for it to settle down and resume a direction
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