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  • #12,521
  • Jul 28, 2014 1:09am Jul 28, 2014 1:09am
Quoting ClockTrader
{quote} We can never be too sure about PA and its direction.. its all speculation after all.. Making living out of Forex ain't easy.
True

It's especially a difficult week to trade imo, with the mix of geopolitical tensions and the scheduled news events.
As the lights go by so too do the shadows move
  • #12,522
  • Jul 28, 2014 1:11am Jul 28, 2014 1:11am
Quoting ClockTrader
{quote} We can never be too sure about PA and its direction.. its all speculation after all.. Making living out of Forex ain't easy.
Definitely not easy….

S&P seems to be supported now in the 1968 region….. gold isn't going to like the S&P holding up and going higher...
  • #12,523
  • Jul 28, 2014 1:12am Jul 28, 2014 1:12am
Quoting Ck87
Think we might be hitting 1296.70 in the next few hours and then maybe 1285 in the next 24h
Sure? I better shift my take profit downwards , that will certainly buy me some nice champagne too.
  • #12,524
  • Jul 28, 2014 1:14am Jul 28, 2014 1:14am
Quoting thevolatile
{quote} Sure? I better shift my take profit downwards , that will certainly buy me some nice champagne too.


No, def not sure haha.. follow your own feet and never be too shy about taking profits… nothing more frustrating than giving up profits, especially when it turns into a loss.


But for me 1296.70 is where I'll be TP in the coming hours… if I'm so fortunate to get the chance to do so
  • #12,525
  • Jul 28, 2014 1:29am Jul 28, 2014 1:29am
Hi all,

I'm currently waiting for 1 last push up by the bulls before entering aggresively on a short.

Gold I want to see 1316 tested, and silver 20.80-20.90 region.

Thanks
Mitch
  • #12,526
  • Jul 28, 2014 1:35am Jul 28, 2014 1:35am
Quoting Mitchoss
Hi all, I'm currently waiting for 1 last push up by the bulls before entering aggresively on a short. Gold I want to see 1316 tested, and silver 20.80-20.90 region. Thanks Mitch

Makes sense, thanks Mitch.
  • #12,527
  • Jul 28, 2014 1:38am Jul 28, 2014 1:38am
Here is the DCB for Asian session, will revise this (DCB) around NY morning.. might want to shuffle the SLs around a bit by then using key Clock hrs.

PS: I will remain committed to my strategy to try my best to not close any position in loss.. don't mind loss of few $s x weight though.
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  • #12,528
  • Jul 28, 2014 1:45am Jul 28, 2014 1:45am
Quoting Mitchoss
Hi all, I'm currently waiting for 1 last push up by the bulls before entering aggresively on a short. Gold I want to see 1316 tested, and silver 20.80-20.90 region. Thanks Mitch

With options expiry upon us today and tomorrow, going short certainly does make sense right now as the Commercial Banks will do what they always do......... Push Gold down right on expiry.


I'm looking to buy some Long's in the next few days once the expiry shenanigans are over.
  • #12,529
  • Jul 28, 2014 1:55am Jul 28, 2014 1:55am
Quoting Dafonz
{quote} With options expiry upon us today and tomorrow, going short certainly does make sense right now as the Commercial Banks will do what they always do......... Push Gold down right on expiry. I'm looking to buy some Long's in the next few days once the expiry shenanigans are over.
Daily is due to come up, weekly is due to come down.. its a pickle, and that is why im not in a position right now..
  • #12,530
  • Jul 28, 2014 1:56am Jul 28, 2014 1:56am
Quoting Mitchoss
{quote} Daily is due to come up, weekly is due to come down.. its a pickle, and that is why im not in a position right now..

Noticed that as well...
  • #12,531
  • Jul 28, 2014 2:25am Jul 28, 2014 2:25am
I am still new in this market, let me share my view.

Technically weekly chart show down trend, but shorter time frame gold can go up little bit to reach previous weekly high 1319. We are in the end of month so nothing change much unless gold show significant rally. The bull look tired as shown in multi years EMA 100-200 nearly cross down to start multi year down trend.
But the bull still in control if monthly close above monthly open 1325, every thing can happened, time will tell.

https://www.tradingview.com/v/l5VsDVDs/
  • #12,532
  • Jul 28, 2014 2:53am Jul 28, 2014 2:53am
O.K. so Monday is here and Geopolitical issues seems to calm down for a moment so let's start to build some short position.
  • #12,533
  • Jul 28, 2014 3:43am Jul 28, 2014 3:43am
Hello all and good morning (",)
and happy eid for everyone
Senior Trader Multi-Account Manager
  • #12,534
  • Jul 28, 2014 4:16am Jul 28, 2014 4:16am
Still holding my shorts 1302.90 and 1307,90
would wait a new low most likely ill close there
its monday (",)
Senior Trader Multi-Account Manager
  • #12,535
  • Jul 28, 2014 4:18am Jul 28, 2014 4:18am
Quoting Ck87
Think we might be hitting 1296.70 in the next few hours and then maybe 1285 in the next 24h
exactly my vew if we don't have any risk events.
But as preveously said its hard to keep positions for daytrading alive here because of so much threat
  • #12,536
  • Jul 28, 2014 4:54am Jul 28, 2014 4:54am
Hope some PA by the time Americans wake up OR around the news: Pending Home Sales m/m

My thought on current situation: PA would focus only on hitting SLs in one or both the directions, it has already hit both buyers and sellers hard who use SLs like 5 - 10 $s away. I'm not expecting anything like 20 $ or bigger move in the next 12 hrs from current price of $1305
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  • #12,537
  • Jul 28, 2014 5:28am Jul 28, 2014 5:28am
Quoting Matts Micro
{quote} Becoming overbought from here will likely provide LL's imo but a pulback without may turn this to a bullish trend. {image}
Even though the 1hr is overbought the 4hr is what I am concerned with. It just touched my overbought line before pulling back so still room for upside imo. I am looking at a possible H&S formation on many of the time frames. The weekly/daily though the left shoulder is lower than the head it is only a wick whereas the head has multiple closes below. Also they may be considered a double bottom. The 4&1 hourly maybe playing the same tune. Imo even if PA makes a new LL I'm not sure the level could be sustained unless coming from a steep decent.

I am watching the green/blue/orange TL's for direction. Atm PA is hovering at the 200ma indicating that direction is undecided imo.
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As the lights go by so too do the shadows move
  • #12,538
  • Jul 28, 2014 5:29am Jul 28, 2014 5:29am
Quoting Dafonz
{quote} With options expiry upon us today and tomorrow, going short certainly does make sense right now as the Commercial Banks will do what they always do......... Push Gold down right on expiry. I'm looking to buy some Long's in the next few days once the expiry shenanigans are over.
Actually if you know mind? I am trying to find these option information with prices and volumes but I am not sure where I can get it, I tried CME whatever you can name. If if is convenient wonder if you can let me know the url?
  • #12,539
  • Jul 28, 2014 5:47am Jul 28, 2014 5:47am
Closed two shorts which were lying @ 1306 in GREEN

Burrppppp

Closed two longs which were lying @ 1297-98 in GREEN

Burrppppp
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  • #12,540
  • Jul 28, 2014 5:58am Jul 28, 2014 5:58am
Quoting ClockTrader
Closed two shorts which were lying @ 1306 in GREEN Burrppppp Closed two longs which were lying @ 1297-98 in GREEN Burrppppp
Using extended DCB for longs, shuffled SLs around a bit

SL @ 1291 for 4 longs lying in 1290ish range

SL @ 1309 for 6 shorts lying @ 1307

I guess pic would better..

here it is.. att..

PS: Looks like PA is going no where but sideways.. I'll continue to expect a swing-up tomorrow.. IF it peaks-out on a session level or for a day, would be happy to hedge the longs.. once again..
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