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  • #10,341
  • Jun 23, 2014 6:12am Jun 23, 2014 6:12am
Quoting Szymon
hello everyone, there is a wisdom: if everybody says buy - start selling and of course it is quite logical - because every cent earned by someone must be taken out from other trader's pocket. other way - the majority must be wrong. this is why I am a little bit worried about all this "buying hurra" in spite of all above I am also long. and the retracement to 1290-1300 area would be really nice and ideal accordingly to my tools.
Yes it would be nice.
What tools are you using, mind to post a chart?
  • #10,342
  • Jun 23, 2014 6:25am Jun 23, 2014 6:25am
Significant support at the 1310 handle.
  • #10,343
  • Jun 23, 2014 6:25am Jun 23, 2014 6:25am
Quoting Szymon
hello everyone, there is a wisdom: if everybody says buy - start selling and of course it is quite logical - because every cent earned by someone must be taken out from other trader's pocket. other way - the majority must be wrong. this is why I am a little bit worried about all this "buying hurra" in spite of all above I am also long. and the retracement to 1290-1300 area would be really nice and ideal accordingly to my tools.
It's not that simple not every dollar that you make on forex is lost by someone else, on a strong bearish market quite a lot of money just vanish not going in anyone's pocket and in bullish some of the money are brand new which didn't exist before.
  • #10,344
  • Jun 23, 2014 7:22am Jun 23, 2014 7:22am
Hi all,

I am short both XAUUSD and XAGUSD. Stop at 1322 and 21.10, targeting 1305 and 20.60 for a short term trade (maybe intraday). Good luck to all...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: xauusdh1.png Size: 31 KB
Click to Enlarge Name: xagusdh1.png Size: 30 KB
  • #10,345
  • Jun 23, 2014 7:36am Jun 23, 2014 7:36am
Quoting atom3
{quote} It's not that simple not every dollar that you make on forex is lost by someone else, on a strong bearish market quite a lot of money just vanish not going in anyone's pocket and in bullish some of the money are brand new which didn't exist before.

I'm new to markets(6 months tops). I was confused once i started forex, like where the money comes from and where it goes to, on our losses. but i dont really care anymore. even though still a bit anxious.
  • #10,346
  • Jun 23, 2014 7:47am Jun 23, 2014 7:47am
Quoting noobstrader
{quote} I'm new to markets(6 months tops). I was confused once i started forex, like where the money comes from and where it goes to, on our losses. but i dont really care anymore. even though still a bit anxious.
The simplest explanation is - today you have a house which is worth 1 500 000$ so this makes you are a millionaire but tomorrow your country is being invaded (or something adequately bad to this happens ) so no one wants your house anymore which makes it worth nothing or close to nothing and there you have it, your 1.5 million dollars has vanished in a day without going in anyone's pocket. I want to go in some more details but it's a bit hard with my english.
  • #10,347
  • Jun 23, 2014 7:49am Jun 23, 2014 7:49am
I think we goin to 1.330/32 today
  • #10,348
  • Jun 23, 2014 8:42am Jun 23, 2014 8:42am
Quoting number15
{quote} Yes it would be nice. What tools are you using, mind to post a chart?
I hardly use any special tools. I try to have the chart as simple as possible - price action + volume analysis and sometimes ichimoku. here is my gold chart which I use at this very moment
Attached Image (click to enlarge)
Click to Enlarge Name: goldsh4.png Size: 72 KB
Mind is like a parachute - it is useful only if open
  • #10,349
  • Jun 23, 2014 8:50am Jun 23, 2014 8:50am
Quoting xtra
I think we goin to 1.330/32 today
i cant see north movement today...
should be going south 1.305 area or lower today
  • #10,350
  • Jun 23, 2014 9:04am Jun 23, 2014 9:04am
Quoting atom3
{quote} The simplest explanation is - today you have a house which is worth 1 500 000$ so this makes you are a millionaire but tomorrow your country is being invaded (or something adequately bad to this happens ) so no one wants your house anymore which makes it worth nothing or close to nothing and there you have it, your 1.5 million dollars has vanished in a day without going in anyone's pocket. I want to go in some more details but it's a bit hard with my english.

thank you for that . very much helped to ease out. somewhat got the picture..
  • #10,351
  • Jun 23, 2014 9:04am Jun 23, 2014 9:04am
Quoting Ksth
{quote} i cant see north movement today... should be going south 1.305 area or lower today
i second it.
  • #10,352
  • Jun 23, 2014 9:06am Jun 23, 2014 9:06am
all longs hedged, trying naked shorts now with SL @ 1345

PS: will remain invested in contracts
Hello World!
  • #10,353
  • Jun 23, 2014 9:08am Jun 23, 2014 9:08am
Quoting ClockTrader
all longs hedged, trying naked shorts now with SL @ 1345 PS: will remain invested in contracts
is it the right place for shorts
  • #10,354
  • Jun 23, 2014 9:21am Jun 23, 2014 9:21am
Quoting thakursk84
{quote} is it the right place for shorts
Based on clock patterns, I did what seemed right to me.
Hello World!
  • #10,355
  • Jun 23, 2014 9:31am Jun 23, 2014 9:31am
Quoting ClockTrader
{quote} Based on clock patterns, I did what seemed right to me.
Hi,

CT, don't u think that gold prices will go up after the worsening of the iraq crisis today.

Especially after gold holding its price, even after good US data. Which does show that gold has a good chance for it hit high high's.

DowJones also going down which does mean IRAQ CRISIS is playing a big role.

I might be wrong, so please correct if so?

Thanks!

Happy Green PIPS to everyone!!!
  • #10,356
  • Jun 23, 2014 9:37am Jun 23, 2014 9:37am
Firstly, I don't follow news. I follow Golden Seasons, lunar cycles and stuff like that, most of it sounds like voodoo stuff, so I don't like talking much except Golden Seasons.

Secondly, I am developing huge confidence in certain patterns based on clock. When Comex/Globex is about to move the price considerably, they entice people to buy/sell, I think I have begun to understand that. You are apparently new here and I'm sure you didn't read the first post of this thread.


Quoting rahimsaa
{quote} Hi, CT, don't u think that gold prices will go up after the worsening of the iraq crisis today. Especially after gold holding its price, even after good US data. Which does show that gold has a good chance for it hit high high's. DowJones also going down which does mean IRAQ CRISIS is playing a big role. I might be wrong, so please correct if so? Thanks! Happy Green PIPS to everyone!!!
Hello World!
  • #10,357
  • Jun 23, 2014 9:43am Jun 23, 2014 9:43am
Quoting rahimsaa
{quote} Hi, CT, don't u think that gold prices will go up after the worsening of the iraq crisis today. Especially after gold holding its price, even after good US data. Which does show that gold has a good chance for it hit high high's. DowJones also going down which does mean IRAQ CRISIS is playing a big role. I might be wrong, so please correct if so? Thanks! Happy Green PIPS to everyone!!!
it really amaze me how gold is rallying and bearish data keep coming for the metal from China, now USA,
"Existing Home Sales" this big in the past meant a spike about $20 price down when the market was pricing bad numbers,
last Week Factory numbers came high and gold exploded to the upside, in the past it meant a leg down for Gold.
  • #10,358
  • Jun 23, 2014 9:45am Jun 23, 2014 9:45am
Quoting acidguy
{quote} it really amaze me how gold is rallying and bearish data keep coming for the metal from China, now USA, "Existing Home Sales" this big in the past meant a spike about $20 price down when the market was pricing bad numbers, last Week Factory numbers came high and gold exploded to the upside, in the past it meant a leg down for Gold.
Shorting to 1288.
"The market can remain irrational longer than you can remain solvent"
  • #10,359
  • Jun 23, 2014 9:53am Jun 23, 2014 9:53am
ranging between 1310-1320. Firm in my view that a small correction followed by strong upside will occur.

1280 is target before we go higher.
  • #10,360
  • Jun 23, 2014 10:37am Jun 23, 2014 10:37am
zzzZZzZZZzZZZZ, I've begun to yawn now, its getting too boring, maybe its too calm before the storm, whatever, I'll call it a day, wish you all a good one!
Hello World!
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