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Only Gold!

  • #10,461
  • Jun 25, 2014 1:05am Jun 25, 2014 1:05am
Almost every single person here is talking about a fall, is anyone prepared if it goes higher?

When the fall occurs, (I hope it occurs sooner than later), it shall be fast, intense and furious, BUT, what if it doesn't occur at all?
Hello World!
  • #10,462
  • Jun 25, 2014 1:15am Jun 25, 2014 1:15am
time h1 . 1327? or 1304 ?


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


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  • #10,463
  • Jun 25, 2014 1:22am Jun 25, 2014 1:22am
Quoting Mitchoss
Looking to go short today. I want to Se a test of 1300 gold and 20.3 silver before Friday. Then we should resume in July in the uptrend The metals need a breather to get more buying in my opinion
exactly
Mind is like a parachute - it is useful only if open
  • #10,464
  • Jun 25, 2014 1:24am Jun 25, 2014 1:24am
Quoting ClockTrader
Almost every single person here is talking about a fall, is anyone prepared if it goes higher? When the fall occurs, (I hope it occurs sooner than later), it shall be fast, intense and furious, BUT, what if it doesn't occur at all?
How to prepare, it's always risky but you have to choose a side, i think everyone here can take a risk in some degree, otherwise he would be putting his money under the mattress not in forex
  • #10,465
  • Jun 25, 2014 1:33am Jun 25, 2014 1:33am
Another possible count, it's still in minor wave (iv) before further upside price action.
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Elliott Wave for optimum entry, exit and risk management of trades
  • #10,466
  • Jun 25, 2014 1:38am Jun 25, 2014 1:38am
Quoting atom3
{quote} How to prepare, it's always risky but you have to choose a side, i think everyone here can take a risk in some degree, otherwise he would be putting his money under the mattress not in forex
Yes, I have a chosen a side, I've chosen to be an investor. I am not talking about risk here, but talking about direction.
Hello World!
  • #10,467
  • Jun 25, 2014 1:41am Jun 25, 2014 1:41am
Quoting ClockTrader
Almost every single person here is talking about a fall, is anyone prepared if it goes higher? When the fall occurs, (I hope it occurs sooner than later), it shall be fast, intense and furious, BUT, what if it doesn't occur at all?
Im long TP at price 1332
  • #10,468
  • Jun 25, 2014 1:54am Jun 25, 2014 1:54am
Quoting dindang2win
{quote} Im long TP at price 1332
Looks like a trader's call to me.

Quoting ClockTrader
{quote} Yes, I have a chosen a side, I've chosen to be an investor. I am not talking about risk here, but talking about direction.
It was worth mentioning that I'm a trader too, hedging and taking profits indicate a trader's nature.
Hello World!
  • #10,469
  • Jun 25, 2014 1:56am Jun 25, 2014 1:56am
see how short term trading treats me

LONG
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  • #10,470
  • Jun 25, 2014 2:04am Jun 25, 2014 2:04am
gold is at its most important level 1330 which is weekly trendline level,if broken, than we have 1359 than 1385 than 1430
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  • #10,471
  • Jun 25, 2014 2:16am Jun 25, 2014 2:16am
Quoting seaman2
see how short term trading treats me LONG {image}
sorry, forgot my logic for the trade

1. failed test of 1310.
2. exhaustion bar, trying to catch higher high
3. I am gold bull
  • #10,472
  • Jun 25, 2014 3:27am Jun 25, 2014 3:27am
Gold tried to edge higher on Tuesday, but met resistance at 1325 (R1) and then moved lower. The RSI exited overbought conditions, while the MACD remains below its signal line, pointing down. Moreover, on the daily chart, we can identify a shooting star candle, increasing the likelihood for the continuation of the decline. However, as long as the precious metal’s price pattern is higher highs and higher lows above both the moving averages, the technical picture remains positive and I would consider any further declines as a corrective wave, at least for now.
  • #10,473
  • Jun 25, 2014 3:45am Jun 25, 2014 3:45am
Once again hedged each long, on top of that, added 2 shorts with SL @ 1325
Hello World!
  • #10,474
  • Jun 25, 2014 3:45am Jun 25, 2014 3:45am
Quoting ClockTrader
Once again hedged each long, on top of that, added 2 shorts with SL @ 1325
might add more shorts by NY morning.
Hello World!
  • #10,475
  • Jun 25, 2014 3:47am Jun 25, 2014 3:47am
Quoting ClockTrader
Once again hedged each long, on top of that, added 2 shorts with SL @ 1325
SS att.
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Hello World!
  • #10,476
  • Jun 25, 2014 5:55am Jun 25, 2014 5:55am
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Ro IMRAN Ro
  • #10,477
  • Jun 25, 2014 6:04am Jun 25, 2014 6:04am
Quoting bayfisherman
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... {image}
Superb analysis, your in a diff league, first off most of us are mostly prof with mt4, we would appreciate more insight into what you have but we also need to tools to carry forward otherwise your explanation will fall on deaf ears.
Very busy right now myself, cant contribute or reply but will glance from time to time. but yeah your work looks top grade well done, trust its paying off
  • #10,478
  • Jun 25, 2014 7:01am Jun 25, 2014 7:01am
us data will come good...i gues good...
  • #10,479
  • Jun 25, 2014 7:04am Jun 25, 2014 7:04am
Quoting prototip
us data will come good...
I am not sure about the data, but, I'm quite sure about nice PA ahead.

It has positioned pretty well, can hit SLs on either side, moved my SL on 2 shorts to 1340
Hello World!
  • #10,480
  • Edited 7:22am Jun 25, 2014 7:12am | Edited 7:22am
Quoting Verve
{quote} Superb analysis, your in a diff league, first off most of us are mostly prof with mt4, we would appreciate more insight into what you have but we also need to tools to carry forward otherwise your explanation will fall on deaf ears. Very busy right now myself, cant contribute or reply but will glance from time to time. but yeah your work looks top grade well done, trust its paying off
Kind words...like the exchange of ideas always...most of the time when I post its not so much you'll follow what i'm doing (be very careful following others) but in hopes it might offer a trade idea you can filter through your own trading plan..too, it's so I'm saying it out loud to myself to help confirm my own trading plan.

Having good tools is always helpful with any job you take on. If you want to take a look at mine, they are for sale at www.strategicdaytrading.com. Some of the best I've ever used. I've found futures to trade better intraday/daytrading and with my forex account try to swing trade for bigger moves. If I do hold the futures positions it's typically pretty small 1-2 contracts.

Some trades I'm currently (short oil and gold) in from the asian session, couldn't pass up this ridiculous move in oil...130 ticks in 23 mins on the NY close/asian open...faded the move and right back to the gap now. Gold still holding my daily zone @ 1315.8 would like to see a retest of the lows....I wouldn't expect much from Wednesday gold. In the back testing I've done consistantly the worst day for daytrading gold(if anyone can shed some light on this as it relates to news..? my guess day before employment data posturing)...usually lots of consolidation. From the overnight movement would expect today is no exception...perhaps a break late towards london/ny close, we'll see.
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