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  • #8,801
  • May 18, 2014 2:01pm May 18, 2014 2:01pm
Quoting vrshaiju
{quote} Gold is setting for $100-$200 bull trend. We have to wait till end of this month {image}​
Hi Vrshaiju,

I am still learning your way of graph structure. Do I understand correctly that you expect gold to first drop to ~ 1260 after which it will rise $100 - $200 again?

Best regards,

Frietzak
  • #8,802
  • May 18, 2014 2:12pm May 18, 2014 2:12pm
On the H4 chart, the price is moving down strongly along with a bearish trend and every time the price touches the upper line of the channel as a resistance hurdle, the supply pressure increases and a reversal is seen. On the other hand, below the bearish trend line the price is moving upward inside a secondary bullish channel. If the lower line of the channel around $1275 is broken below, we are expecting the slid to be continued. And of course on the other hand if the $1310 resistance level is broken up strongly, a price development is in place as an assumption.

http://forex-fa14.blogspot.com/

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  • #8,803
  • May 18, 2014 7:54pm May 18, 2014 7:54pm
While a bounce from 1288-1292 can't be ruled out, I'll leave my test short (on paper) from 1304 open.
Hello World!
  • #8,804
  • May 18, 2014 8:43pm May 18, 2014 8:43pm
Quoting ClockTrader
While a bounce from 1288-1292 can't be ruled out, I'll leave my test short (on paper) from 1304 open.
I agree. I'm also still short (in silver), the bounce is to be expected and is signs of a healthy trend.

I would look to test the bottom of the current channel in NY session (as shown on one of the charts above)

While I'm not in gold, I'm trading silver but use golds channels to assist my entry and exits.

Good luck and safe trading

Mitch
  • #8,805
  • May 18, 2014 8:54pm May 18, 2014 8:54pm
Quoting Mitchoss
{quote} I agree. I'm also still short (in silver), the bounce is to be expected and is signs of a healthy trend. I would look to test the bottom of the current channel in NY session (as shown on one of the charts above) While I'm not in gold, I'm trading silver but use golds channels to assist my entry and exits. Good luck and safe trading Mitch
Quoting ClockTrader
While a bounce from 1288-1292 can't be ruled out, I'll leave my test short (on paper) from 1304 open.
Agreed, just entered another short.
A genius is born every minute, me I am lucky if my socks match.
  • #8,806
  • May 18, 2014 10:29pm May 18, 2014 10:29pm
Quoting whackdiddy
{quote} {quote} Agreed, just entered another short.
i think you could get a better entry at 1299, look at H4 and still is green, ill enter another short when 2 red H4 candles appear, this alidgned with fundamentals

but...

technically i am seeing this pair go $1310 in the next 2 days.
  • #8,807
  • May 18, 2014 11:27pm May 18, 2014 11:27pm
Quoting Mitchoss
{quote} I agree. I'm also still short (in silver), the bounce is to be expected and is signs of a healthy trend. I would look to test the bottom of the current channel in NY session (as shown on one of the charts above) While I'm not in gold, I'm trading silver but use golds channels to assist my entry and exits. Good luck and safe trading Mitch
Quoting whackdiddy
{quote} {quote} Agreed, just entered another short.
whackdiddy, there were bottom out signs around 1288-90 on H1, so a bounce looked fair even in current declining trend (daily). Selling right now looks early. I would like to add shorts (on paper) once it peaks out in a day or two.

IF it climbs without any spikes and volatility towards North rapidly it could climb higher, unless its a silent peak out on H1. I would love to see it peak out fast in the 1305-15 range so that journey towards South resumes. Right now I am not even trading practice accounts, let alone live. Break feels good, helps develop self-discipline.
Hello World!
  • #8,808
  • May 19, 2014 12:47am May 19, 2014 12:47am
Quoting ClockTrader
{quote} {quote} whackdiddy, there were bottom out signs around 1288-90 on H1, so a bounce looked fair even in current declining trend (daily). Selling right now looks early. I would like to add shorts (on paper) once it peaks out in a day or two. IF it climbs without any spikes and volatility towards North rapidly it could climb higher, unless its a silent peak out on H1. I would love to see it peak out fast in the 1305-15 range so that journey towards South resumes. Right now I am not even trading practice accounts, let alone live. Break feels...
yep 1H then D1.

also, on D1 a triangle is formed.
at the darn of decision.
  • #8,809
  • May 19, 2014 12:57am May 19, 2014 12:57am
Yep, jumped prematurely, but all good. My weekly is showing we may climb back to the 1302 mark but then we are going down further bear to 1273 ish..
Honestly I broke some of my rules with the short placed above...

1. rule, do not trade bleary eyed as good as the trade and signals seem.
A genius is born every minute, me I am lucky if my socks match.
  • #8,810
  • May 19, 2014 2:01am May 19, 2014 2:01am
http://www.investing.com/economic-calendar/

Investing.com Gold Index

The Investing.com series of indexes is a unique set of indexes, developed in-house.
Each index measures overall exposure to major currency pairs, commodities and indexes, using data from futures exchanges and OTC providers on all long and short open positions.
The number displayed in the economic calendar is the percentage of traders who hold long positions for that specific instrument.
A reading above 50% means that more than half of traders are holding long positions for that instrument.
A reading between 50%-70% is bullish for the instrument, a reading between 30% and 50% is bearish, a reading above 70% indicates overbought conditions and a reading below 30% indicates oversold conditions.

___________________________________________________________

does not sound very convincing to me and of much benefit but still why not taking a look
  • #8,811
  • May 19, 2014 2:52am May 19, 2014 2:52am
Wish profitable week to all local gold bugs !
  • #8,812
  • Edited 3:15am May 19, 2014 2:56am | Edited 3:15am
first trade of the week

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it can rise a little bit more to $1303.50 , but confident in the right direction tp $1285, of course trading must be flexible, depending on price action position could be closed earlier.

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  • #8,813
  • May 19, 2014 2:59am May 19, 2014 2:59am
Quoting ClockTrader
{quote} {quote} whackdiddy, there were bottom out signs around 1288-90 on H1, so a bounce looked fair even in current declining trend (daily). Selling right now looks early. I would like to add shorts (on paper) once it peaks out in a day or two. IF it climbs without any spikes and volatility towards North rapidly it could climb higher, unless its a silent peak out on H1. I would love to see it peak out fast in the 1305-15 range so that journey towards South resumes. Right now I am not even trading practice accounts, let alone live. Break feels...
-->>> whackdiddy, there were bottom out signs around 1288-90 on H1, so a bounce looked fair even in current declining trend (daily). Selling right now looks early

Repeat the quote..
Hello World!
  • #8,814
  • May 19, 2014 3:03am May 19, 2014 3:03am
I am long gold short dow.If dow breaks 16400 I will add to my short and add to gold long 1310
  • #8,815
  • May 19, 2014 3:15am May 19, 2014 3:15am
Quoting ClockTrader
{quote} -->>> whackdiddy, there were bottom out signs around 1288-90 on H1, so a bounce looked fair even in current declining trend (daily). Selling right now looks early Repeat the quote..
All good champ, UK session spiked, bank session should take it back a bit and then the NY session should bear further.
Currently holding 5 x shorts on gold with healthy margin and looking for a tp on all around the 1288.00, may be holding until mid to end of the week and may slip the TP back to 1277.82.

Of course I could be wrong and this thing could drive up, but Weekly is just beginning its bear run. IMHO.
A genius is born every minute, me I am lucky if my socks match.
  • #8,816
  • May 19, 2014 3:17am May 19, 2014 3:17am
Quoting acidguy
first trade of the week {image} it can rise a little bit more to $1303.50 , but confident in the right direction tp $1285, of course trading must be flexible, depending on price action position could be closed earlier. {image}
yep seeing what you are seeing Acid, a very slight potential for a 1266 mark but lets get back to the 1280 first shall we..
A genius is born every minute, me I am lucky if my socks match.
  • #8,817
  • May 19, 2014 3:20am May 19, 2014 3:20am
newbie is concerned
am i the only one long biased
i am holding a small long from 1289.75 and wil keep holding it for now
  • #8,818
  • May 19, 2014 3:22am May 19, 2014 3:22am
Quoting bonnzi
newbie is concerned am i the only one long biased i am holding a small long from 1289.75 and wil keep holding it for now
All good champ, as Acid pointed out we will head up around the 1304 mark, I just hope you have not missed your opportunity as we are going bear right now.
A genius is born every minute, me I am lucky if my socks match.
  • #8,819
  • May 19, 2014 3:53am May 19, 2014 3:53am
still holding
i will wait and see if we break this 1304 mark that you are talking about which is descending trend line right?
  • #8,820
  • May 19, 2014 4:26am May 19, 2014 4:26am
Quoting goldtraderpk
Dear My Wish your dreams come true but I am sorry I am not agree with this chat if waiting to close below 1283 then I will jump with hammer to chop Gold In my views only 20 to 25 pips will jump up But Gold is totally bearish and 2015 My analysis says Gold will trader below 1000$ in any month of 2015 If any fundamentals news arrived like Ukraine crisis then I am with you Any way this is just comments what will happen Bull and Bears knows u and me are small insect of market Take care
You just saw a piece of the fish...... ! You didn't see the complete analysis yet. You said gold will fall any month in 2015.. What do you do the whole year 2014? I have been successfully trading gold since 2011, where every one targeting 2000$ and $3000 for gold but I was targeting $600. Could you agree with the target $600??

The following image is just my analysis before the last trading week.. follow the link

http://www.earnfromfx.com/media/gold-last-week-recap
Thathwamasi
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