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  • #10,201
  • Jun 19, 2014 8:24am Jun 19, 2014 8:24am
This big gap I see on 4H, does it mean anything to you guys ?
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  • #10,202
  • Jun 19, 2014 8:30am Jun 19, 2014 8:30am
Quoting workingforex
This big gap I see on 4H, does it mean anything to you guys ? {image}

server error maybe. I don't have it in mine

see
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  • #10,203
  • Jun 19, 2014 8:38am Jun 19, 2014 8:38am
Quoting workingforex
This big gap I see on 4H, does it mean anything to you guys ? {image}
It doesn't exist.
  • #10,204
  • Jun 19, 2014 8:52am Jun 19, 2014 8:52am
Sirs do you think gold is retracing now?
  • #10,205
  • Jun 19, 2014 9:06am Jun 19, 2014 9:06am
Quoting workingforex
This big gap I see on 4H, does it mean anything to you guys ? {image}
mine no gap.
  • #10,206
  • Edited 9:55am Jun 19, 2014 9:20am | Edited 9:55am
We need some retrace or at least sideways. H1 and H4 totaly overbought. Closed my longs and hopefully reenter lower.

Edit: ok its like "I dont care at all"
  • #10,207
  • Jun 19, 2014 10:11am Jun 19, 2014 10:11am
I plan to close my long position @ 1300. I expect the price to drop hereafter to 1245.

What are your thoughts on this?
  • #10,208
  • Jun 19, 2014 10:37am Jun 19, 2014 10:37am
close light long at 1298 from 1275.
that's for hedge... actually i still hold very light short at 1265...

Now,　I add short aggressively at 1298. I don't care WTF 500M notional.
  • #10,209
  • Jun 19, 2014 10:40am Jun 19, 2014 10:40am
Quoting kinspk
{quote} So you mean you don't close any of your long no matter how much it drops? And what is the highest long trade you still had in your hand?
If my system says sell, I might hedge 25 - 50%, I would not sell just because its falling OR profits have swollen a lot.

Check attached pic, this is all I got from current season so far.
Attached Image
Hello World!
  • #10,210
  • Jun 19, 2014 11:01am Jun 19, 2014 11:01am
Quoting kinspk
{quote} So you mean you don't close any of your long no matter how much it drops? And what is the highest long trade you still had in your hand?
In other words, I won't close my longs regardless of how much it falls or climbs. I might hedge / close these longs using Golden Seasons eventually. There are ancient India festivals which I may use as well for closing / hedging.

I can't see any sign of peak out by far, awaiting peak out, if I can see that I might wanna hedge 25% of longs at least. I'll also look for next opportunity (dip) to buy from.
Hello World!
  • #10,211
  • Jun 19, 2014 11:05am Jun 19, 2014 11:05am
Time to call it a day, wish you all a good one!

PS: Desperately awaiting a peak out.
Hello World!
  • #10,212
  • Jun 19, 2014 11:17am Jun 19, 2014 11:17am
Quoting frietzak
I plan to close my long position @ 1300. I expect the price to drop hereafter to 1245. What are your thoughts on this?

Yeah me, I think that if 1300 doesn't break upwards we will see a drop back to 1240 very soon. The price is at the edge of the Kumo ( cloud ) of Ichimoku on Weekly and Monthly if it pierces through I have a tight SL, if not I will let it open until 1273 and if it goes there will move my SL on the profit side.
On the other hand the RSI on H1,H4 is over bought but on Daily it still has room to move, not to say about Weekly where the price just went above the RSI and and pointing on the upside, besides all this you have to take in consideration the fundamentals who at the moment help the bullish trend because of the problems in Ukraine and the recent Iran/Iraq conflicts. So with that all said I would advise caution to all traders long or short because at the moment it's very tricky in my opinion.
Oh yeah and one more thing, keep in mind that 1300 is a round number and a very hard psychological point to pass, that's why is better to traded it a bit safer around this value.


Cheers and green pips !



P.S: A few weeks ago I placed a target around 1277 when it was 1233 ( I was to stubborn to trade it though ) now I see a downside and will take the risk.
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  • #10,213
  • Jun 19, 2014 11:19am Jun 19, 2014 11:19am
Why $1292 was passed unnoticed it was a big consolidation area before we went down to $1240 ?
  • #10,214
  • Jun 19, 2014 11:20am Jun 19, 2014 11:20am
a measured move puts you out around 1303
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  • #10,215
  • Jun 19, 2014 11:23am Jun 19, 2014 11:23am
Quoting ClockTrader
Time to call it a day, wish you all a good one! PS: Desperately awaiting a peak out.
Ooopppsss! Forgot the high/low point @ 12 pm NY [EST], just hedged 20-25% of longs.
Hello World!
  • #10,216
  • Jun 19, 2014 11:44am Jun 19, 2014 11:44am
Stopped out at 1305 a few seconds ago, I'm gonna wait for a confirmation of this piercing of the Kumo to enter longs or a rejection to get on the shorts!
  • #10,217
  • Jun 19, 2014 11:46am Jun 19, 2014 11:46am
I dont get what is driving it up SO hard w/o a retrace at all. EU is dropping again but gold doesnt care at all.
Someone got an explanation?
  • #10,218
  • Jun 19, 2014 11:51am Jun 19, 2014 11:51am
Quoting Kijun
I dont get what is driving it up SO hard w/o a retrace at all. EU is dropping again but gold doesnt care at all. Someone got an explanation?

Levels Kijun plus the current geopolitical situation from Ukraine and Iraq/Iran, 1300 was broken and now it has orders to fill, that's why I placed my SL so close at 1305 because I knew that once will break 1300 can go higher. It's very bad for sellers if the price goes inside the Kumo on monthly and opens another candle inside it it can reach even 1480 which is the tip of the KijunSen , so be careful.
  • #10,219
  • Jun 19, 2014 11:52am Jun 19, 2014 11:52am
hey, Kijun 2 things mainly.
shot term squeeze on gold futures spiked all metals expect it to end by tomorrow at the end of this week's session.

The other one is the speculation about obama's conference at 5:30 am GMT about sending tactic soldiers to iraq. apearently he might send soldiers something he promised not to do.
  • #10,220
  • Jun 19, 2014 11:53am Jun 19, 2014 11:53am
Quoting MisterSpread
{quote} Levels Kijun plus the current geopolitical situation from Ukraine and Iraq/Iran, 1300 was broken and now it has orders to fill, that's why I placed my SL so close at 1305 because I knew that once will break 1300 can go higher. It's very bad for sellers if the price goes inside the Kumo on monthly and opens another candle inside it it can reach even 1480 which is the tip of the KijunSen , so be careful.
Got stopped out aswell @ 1305 so i dont have open trades anymore. Just learning and trying to understand those moves Thanks for your post.
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