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  • #12,021
  • Jul 22, 2014 5:44am Jul 22, 2014 5:44am
I am very surprised gold bullish momentum is not picking up, thought some safe haven will do the job
"The Market is Not Evil, it Simply Separates Dumb People From Their Money."
  • #12,022
  • Jul 22, 2014 5:47am Jul 22, 2014 5:47am
im getting worried now tobe honest since gs posted an article saying dollar's getting stronger just 3h before the CPI.. i might close my short here because i think gold will reverse due to lack of us strengh ill pick it up tomorrow or so
  • #12,023
  • Jul 22, 2014 6:15am Jul 22, 2014 6:15am
Quoting waleed.khan
{quote} {quote} IMO, the thing about triangles and channels is that though they seem very intuitive and "obviously seem to work"...but the reality is that they are as good as a coin flip! (50/50% chance especially in the short time frame charts)... Yes they can generally enhance your overall trading plan when they are used in tandem with market structure & other "indicators/strategies" which helps in filtering the bad calls and increasing the probability of good trades... but to develop a strategy based solely on them is a recipoe for disaster...
They are merely support and resistance levels that are sloped. Give it any name you need. Yesterday, price action was rejected from the descending trend line, and know is breaking through the ascending triangle.

The reality is: they are just visual representations of price. And who are your quoting? The problem is you are assuming too much then trying to give me advice on how to trade. I trade for a large institution. I know what I am doing, and I don't only use technical analysis, so please don't assume so much.
When the facts change I change my mind, what do you do sir
  • #12,024
  • Jul 22, 2014 6:17am Jul 22, 2014 6:17am
Nothing yet to trigger a bottom or top on my charts, however, we appear to be bouncing up off an uptrend line that is part of a triangle. I covered my shorts from yesterday and will go long with small size.
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O you possessed of sturdy intellect, observe the teaching that is hidden
  • #12,025
  • Jul 22, 2014 7:13am Jul 22, 2014 7:13am
Quoting EatPIPs
In an ideal world, looking for $1304 to sustain as support, $1318 to be broken and to consolidate within the $1330-1333 zone. {image}
Nice analysis, Im hoping for a up movement on the metals, price falling sub 1305 finds a reversal, but news could send a bolt south to clear us out
  • #12,026
  • Jul 22, 2014 7:14am Jul 22, 2014 7:14am
First red news event of the week, time to try 'high impact news system' see thread..
  • #12,027
  • Jul 22, 2014 7:18am Jul 22, 2014 7:18am
whats up guys,, new here,, figure i give my 2 cents,, order long at 1301.5 sl 1297 target 1309
will look for a break of the triangle before another trade,, hopefully will break to long side
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  • #12,028
  • Jul 22, 2014 7:33am Jul 22, 2014 7:33am
hmm no spike. added a trailing stop to my short though. cpi is lower than expected bad for usa but should be good for gold. no extreme moveements yet though. im covered anyways off to lunch
  • #12,029
  • Jul 22, 2014 7:40am Jul 22, 2014 7:40am
WTF was that
  • #12,030
  • Jul 22, 2014 7:41am Jul 22, 2014 7:41am
surprise surprise

short @ 1314.18
That which does not kill us makes us stronger
  • #12,031
  • Jul 22, 2014 7:43am Jul 22, 2014 7:43am
Quoting moneymove
surprise surprise short @ 1314.18
good job same here
Senior Trader Multi-Account Manager
  • #12,032
  • Jul 22, 2014 7:43am Jul 22, 2014 7:43am
Will be closely looking now to see how PA reacts to $1318.

Previous spike up on 17/07 could not be erased therefore PA showing strength still exists. Based on todays low remaining intact.
To live a successful life, we must lose our fear of being wrong
  • #12,033
  • Jul 22, 2014 7:44am Jul 22, 2014 7:44am
Quoting lorix
{quote} good job same here
sure that spike up wipe a lot of SL
That which does not kill us makes us stronger
  • #12,034
  • Jul 22, 2014 7:44am Jul 22, 2014 7:44am
Quoting fxsnakes
WTF was that
Trading Gold with a stop loss these days is pointless

The market will shoot above it and the broker will tell you they can't do anything in high volatility.
  • #12,035
  • Jul 22, 2014 7:45am Jul 22, 2014 7:45am
Be careful on the shorts guys unless your scalping of course.
To live a successful life, we must lose our fear of being wrong
  • #12,036
  • Jul 22, 2014 7:46am Jul 22, 2014 7:46am
Quoting EatPIPs
Be careful on the shorts guys unless your scalping of course.
More up you think?
  • #12,037
  • Jul 22, 2014 7:48am Jul 22, 2014 7:48am
Quoting EatPIPs
Be careful on the shorts guys unless your scalping of course.
if u r long buddy u better watch out its trading 4h trend chart now
Senior Trader Multi-Account Manager
  • #12,038
  • Jul 22, 2014 7:49am Jul 22, 2014 7:49am
Quoting ShadyAhmed
{quote} More up you think?
Personally I added more longs today at $1304-1305 and $1311-1314.

50% needs to be retested IMO with room to retest previous highs from 17/07.
To live a successful life, we must lose our fear of being wrong
  • #12,039
  • Jul 22, 2014 7:49am Jul 22, 2014 7:49am
Quoting EatPIPs
Be careful on the shorts guys unless your scalping of course.
no worries, moved SL to BE ++
That which does not kill us makes us stronger
  • #12,040
  • Jul 22, 2014 7:49am Jul 22, 2014 7:49am
Quoting moneymove
surprise surprise short @ 1314.18
Just have my dinner suddenly massive up! Lost the moment to get it.Yteday signal also hit SL T.T (op.1310.50)
row row row your boat
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