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Only Gold!

  • #11,721
  • Jul 17, 2014 3:03am Jul 17, 2014 3:03am
Update:

$1301 to hold as support.

If failed then $1292.

If both failed then my long trades become invalidated.

On the upside, $1314 is price to decide for a pullback or breakthrough. My near term target of $1311 remains unchanged.
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To live a successful life, we must lose our fear of being wrong
  • #11,722
  • Jul 17, 2014 3:35am Jul 17, 2014 3:35am
Always when i buy it goes down , $ when i decide to go short it goes up!!! Well now i have decided when my mind says buy, i will sell & when it says sell i will buy. This way hope i can be a good fx trader.
  • #11,723
  • Jul 17, 2014 3:40am Jul 17, 2014 3:40am
Quoting EatPIPs
Update: $1301 to hold as support. If failed then $1292. If both failed then my long trades become invalidated. On the upside, $1314 is price to decide for a pullback or breakthrough. My near term target of $1311 remains unchanged. {image}
agree... atm price is bouncing up and down, accumulating bull power before going to 1320 (more or less)
Keep calm and go GREEN...
  • #11,724
  • Jul 17, 2014 3:43am Jul 17, 2014 3:43am
PA for gold and silver im following.

Using fibonachi as 1306 gold and 20.9 were rejected (it seems).. we should head lower to the next fibo retracement level.

Currently short after the rejection, not a long term trade by any means, only a 24-48hr trade at this stage.
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  • #11,725
  • Jul 17, 2014 3:48am Jul 17, 2014 3:48am
Gold daily - the range I'm following. Interpolate as you wish, I think we're going to visit the bottom of the channel.
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  • #11,726
  • Jul 17, 2014 4:09am Jul 17, 2014 4:09am
my view of silver - posting here because I do agree with Mitchoss that silver and gold are worth watching together.
horizontal lines are prices which I would like to see and consider longs accordingly to the price action
SK
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Mind is like a parachute - it is useful only if open
  • #11,727
  • Jul 17, 2014 4:31am Jul 17, 2014 4:31am
Quoting EatPIPs
Update: $1301 to hold as support. If failed then $1292. If both failed then my long trades become invalidated. On the upside, $1314 is price to decide for a pullback or breakthrough. My near term target of $1311 remains unchanged. {image}
what is the time frame of your chart ?
P.S. Trade with the discipline of Money Management and Risk Management.
  • #11,728
  • Jul 17, 2014 4:42am Jul 17, 2014 4:42am
Quoting FxAndres
Long XAUUSD {image}

FxAndres, Are u using different ichioku settings? cos on mine with the normal settings H1 cloud has ust been entered and also the cloud is alot thicker.

thanks
  • #11,729
  • Jul 17, 2014 4:45am Jul 17, 2014 4:45am
Quoting farukh
{quote} what is the time frame of your chart ?
TF H4 is good
Keep calm and go GREEN...
  • #11,730
  • Jul 17, 2014 4:54am Jul 17, 2014 4:54am
Quoting drewyip
Hi everyone! First time posting here! might touch 1291-93 before heading NORTH to test 1350 zone. {image}
Great observation for first post
  • #11,731
  • Jul 17, 2014 4:55am Jul 17, 2014 4:55am
Quoting raianil007
Always when i buy it goes down , $ when i decide to go short it goes up!!! Well now i have decided when my mind says buy, i will sell & when it says sell i will buy. This way hope i can be a good fx trader.

hahaha... same here mate...
can be found where TROUBLE is
  • #11,732
  • Jul 17, 2014 4:57am Jul 17, 2014 4:57am
I know this is 'only gold', but people should really be looking at the pair of metals, they are surprisingly similar (silver is golds younger, more volatile brother) .

Those 2 charts I posted are 1 of silver and another of gold. As you can see, both respecting Fibonacci and bouncing off S/R levels.. at the same time.

It may help for those who are new to analyze these metals back to 2008 and start identifying support/resistance from that far back, draw in some Fibonacci's from previous moves on a daily / 4hr time frames, just to get some exposure to the way they move.

You will be very surprised, in trading it does not help to have a pair of tunnel vision goggles on, broaden your views and be accepting to the fact that these systems actually work more often than not..

Good luck with the session tonight, I'm off to bed with a SL and TP set... im exhausted

Mitch
  • #11,733
  • Jul 17, 2014 5:03am Jul 17, 2014 5:03am
Strong resistance at 1306-1308 should be sold in this region and T/P 1283
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  • #11,734
  • Jul 17, 2014 5:11am Jul 17, 2014 5:11am
Quoting farukh
{quote} what is the time frame of your chart ?
I work off 1HR, 4HR and Daily charts. Trade off 15M charts usually.

Previous post was based off a 1HR chart.
To live a successful life, we must lose our fear of being wrong
  • #11,735
  • Jul 17, 2014 5:20am Jul 17, 2014 5:20am
Quoting ClockTrader
This is what I got to share .. {image}
how do you apportion the lot size....?
learn and earn from the ups and downs...of life.
  • #11,736
  • Jul 17, 2014 5:41am Jul 17, 2014 5:41am
Quoting Mitchoss
I know this is 'only gold', but people should really be looking at the pair of metals, they are surprisingly similar (silver is golds younger, more volatile brother) . Those 2 charts I posted are 1 of silver and another of gold. As you can see, both respecting Fibonacci and bouncing off S/R levels.. at the same time. It may help for those who are new to analyze these metals back to 2008 and start identifying support/resistance from that far back, draw in some Fibonacci's from previous moves on a daily / 4hr time frames, just to get some exposure...

Thank you - helps alot :-)
  • #11,737
  • Jul 17, 2014 6:47am Jul 17, 2014 6:47am
Quoting Mitchoss
I know this is 'only gold', but people should really be looking at the pair of metals, they are surprisingly similar (silver is golds younger, more volatile brother) . Those 2 charts I posted are 1 of silver and another of gold. As you can see, both respecting Fibonacci and bouncing off S/R levels.. at the same time. It may help for those who are new to analyze these metals back to 2008 and start identifying support/resistance from that far back, draw in some Fibonacci's from previous moves on a daily / 4hr time frames, just to get some exposure...
Well said! I think all should read this carefully!
  • #11,738
  • Jul 17, 2014 6:48am Jul 17, 2014 6:48am
I like to see equites run opposite of gold at times...expecting more down in NQ but at support now...gold appears to have a nice bearish count here implies at least a retest of the lows...all frequency lines still currently in play but he the green A/R set looks to be in control.
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  • #11,739
  • Jul 17, 2014 7:09am Jul 17, 2014 7:09am
Quoting shinewel
{quote} how do you apportion the lot size....?
For newbies, do not trade more than multiple 0.01 lots with a 10K account

For 2 YO+ traders with good knowledge of what they are doing, they can trade 1 - 2 mini lots and build on them

PS: newbies must use SL
Hello World!
  • #11,740
  • Jul 17, 2014 7:13am Jul 17, 2014 7:13am
Quoting gold1234
{quote} what will be your sl for this trade
No sl for this sell
where are we? we are here. where are we going? ...
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