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Only Gold!

  • #10,441
  • Jun 24, 2014 10:02pm Jun 24, 2014 10:02pm
looks like 1300 is likely tonight
  • #10,442
  • Jun 24, 2014 10:03pm Jun 24, 2014 10:03pm
well, got filled on half at 1307.1 shouldn't have walked away would have taken it all there...
Attached Image (click to enlarge)
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  • #10,443
  • Jun 24, 2014 10:05pm Jun 24, 2014 10:05pm
Quoting Arshamv
{quote} may I know your stops for longs?
None
Hello World!
  • #10,444
  • Jun 24, 2014 10:06pm Jun 24, 2014 10:06pm
Quoting anton.olff
{quote} I had a feeling you would say that. Yes, gold buying fits into patterns...and I do expect that gold will rally this summer as it tends to do. Let's see how high it goes, as I will look at it as an opportunity to increase my short positions over longer term. In the meantime, I will acknowledge seasonal market bias and trade accordingly.
There are a lot more seasonal patterns, I have shared the one which is simplest to understand & follow. You might want to research if you want more.
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  • #10,445
  • Jun 24, 2014 10:06pm Jun 24, 2014 10:06pm
Quoting kinspk
Gold going for free fall. 1300 a possible target to test. {image}
Nobody is going to love it more than me.
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  • #10,446
  • Jun 24, 2014 10:10pm Jun 24, 2014 10:10pm
Quoting ClockTrader
{quote} Nobody is going to love it more than me.
Yea haha, good job there waiting for it.

Btw, I just maybe don't get it why such a spike down at this time. Gold don't really have such volatility at this time, while there isnt any major events.
The only winner is the one who survive the longest...
  • #10,447
  • Jun 24, 2014 10:14pm Jun 24, 2014 10:14pm
Going to buy on dip around 1274 ~ 1282.
Attached Image (click to enlarge)
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Elliott Wave for optimum entry, exit and risk management of trades
  • #10,448
  • Jun 24, 2014 10:20pm Jun 24, 2014 10:20pm
Quoting kinspk
{quote} Yea haha, good job there waiting for it. Btw, I just maybe don't get it why such a spike down at this time. Gold don't really have such volatility at this time, while there isnt any major events.
They sent Americans to bed at higher price, there must be loads of SLs around 1308, lets see where Americans and Britons wake up.

I just hedged few longs, about 2 longs left, I think I should leave these open to test my psychology as my equity tapers with falling price.

PS: IF NY morning shows clear signs of fall, I might hedge all and even try naked shorts.
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  • #10,449
  • Jun 24, 2014 10:27pm Jun 24, 2014 10:27pm
How far do you all think it will fall tonight?
  • #10,450
  • Jun 24, 2014 10:31pm Jun 24, 2014 10:31pm
XAU/XAG had broke the previous H1 high, so I think it will be testing the next high, meaning gold and silver, may drop a little more till XAU/XAG at the next level of resistance.
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The only winner is the one who survive the longest...
  • #10,451
  • Jun 24, 2014 10:33pm Jun 24, 2014 10:33pm
Quoting weti
How far do you all think it will fall tonight?
I can't share price levels right now, but, I think we should have a clear bottom by mid of next week.

If smart VSA signals I would like to invest further by Friday's NY morning / noon.
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  • #10,452
  • Jun 24, 2014 10:45pm Jun 24, 2014 10:45pm
Not much of a counter but it's not uncommon for a wave 4 to complete at the wave 4 of the prior leg, thus my profit target...we retest and fail to head lower this pattern is VERY bullish near term
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  • #10,453
  • Jun 24, 2014 10:52pm Jun 24, 2014 10:52pm
Equal leg 1 and 5 off 4 puts us at 1350 there abouts...
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  • #10,454
  • Jun 24, 2014 10:58pm Jun 24, 2014 10:58pm
Quoting bayfisherman
Not much of a counter but it's not uncommon for a wave 4 to complete at the wave 4 of the prior leg, thus my profit target...we retest and fail to head lower this pattern is VERY bullish near term {image}
Good to see many alternate counts or views. And I like yours.
Elliott Wave for optimum entry, exit and risk management of trades
  • #10,455
  • Jun 24, 2014 11:00pm Jun 24, 2014 11:00pm
Personally I would like to at least see a retest of the area...sitting on top of TL as we speak...not a bad place to short if we are headed back down my stop is behind a daily pivot zone @ 1315.8, testing the bottom of prior consolidation zone as well
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  • #10,456
  • Jun 24, 2014 11:12pm Jun 24, 2014 11:12pm
Quoting Ksth
{quote} short again.1315 tp 1294.50
close my short.

buy 1311.94 tp 1324.69
sl 1306.94
  • #10,457
  • Jun 24, 2014 11:13pm Jun 24, 2014 11:13pm
I know many of you are trading the forex gold cross, but this is the bid ask chart of the gold futures market gc 8-14...a volume tool I use for an edge and confirmation...the delta at the bottom, top row is the sum of the buyers and sellers...when it goes red like that it shows that they are "selling into the rally" with the following failure...good signs if you want to be near term short from an intraday entry perspective. I like to see these patterns at support and resistance areas for entries and exits..you can see the profit taking as well
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  • #10,458
  • Jun 24, 2014 11:27pm Jun 24, 2014 11:27pm
We do breakdown lower my next daily zone is 1291.5 which is pretty close to the 50% fib of the last leg up...also looks about dead center of last major triangle which for you market profile folks would be the POC of that massive volume cluster...food for thought.
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  • #10,459
  • Jun 25, 2014 12:43am Jun 25, 2014 12:43am
hope the bear should be week in the wake of Britain

buy@ 1320 is this a mistake?
  • #10,460
  • Jun 25, 2014 12:45am Jun 25, 2014 12:45am
Now thats a nice surprise to see in the morning (or not a surprise after all i said yesterday it's imminent) ok now serious it's still early to say but 1300-1291$ will be a good stopping point for this correction in my view but then again some very positive economic data can make quite a difference and drag us all the way down to the starting point at 1282$
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