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Only Gold!

  • #13,201
  • Aug 4, 2014 10:19am Aug 4, 2014 10:19am
unpridictable MArket I ll not Touch My SL and TP let It hit,I M long on gold
  • #13,202
  • Aug 4, 2014 10:22am Aug 4, 2014 10:22am
silver may reach its next demand level at 20.16. this is a spring ready to bounce upwards at this point.
  • #13,203
  • Aug 4, 2014 10:35am Aug 4, 2014 10:35am
Quoting ngiler
{quote} Im sellong patience pills. U want? Waiting!!!
:-)
Hello World!
  • #13,204
  • Aug 4, 2014 10:50am Aug 4, 2014 10:50am
Seems a lot of pressure being put on it to take it down but can't quite break the strong support... also inline with lower kumo on the daily and weekly so lots of support at that level...

I've just bought a small lot @ 1287.84 just to test my system. tp 1294

I'm hoping this is the first of many too end my aweful run .. not sure you can even call it a run more like a robbery. :-)
Que Sera
  • #13,205
  • Aug 4, 2014 10:54am Aug 4, 2014 10:54am
As long as Gold does not break 1279, there should be an up move to relieve overselling pressure.

Silver is looking for 20.09 or lower.

Question is will it get there? And can we bounce from there?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Silver 4 August 2014.png Size: 48 KB
Click to Enlarge Name: Gold 4 August 2014 61.8.png Size: 52 KB
A 1 pip gain is better than a 1 pip loss.
  • #13,206
  • Aug 4, 2014 11:05am Aug 4, 2014 11:05am
1287 for gold 20.16 silver. Ive already accumulated some longs, looking to add more particularly in silver.
  • #13,207
  • Aug 4, 2014 11:16am Aug 4, 2014 11:16am
Quoting aeternum
As long as Gold does not break 1279, there should be an up move to relieve overselling pressure. Silver is looking for 20.09 or lower. Question is will it get there? And can we bounce from there? {image} {image}
Broke below yesterday's lows. Highly likely we will see 50 retracement now.
A 1 pip gain is better than a 1 pip loss.
  • #13,208
  • Aug 4, 2014 11:25am Aug 4, 2014 11:25am
Still holding my short @ 1293.10 from friday it dos look good
to keep it price now @ 1286.80
Senior Trader Multi-Account Manager
  • #13,209
  • Aug 4, 2014 11:43am Aug 4, 2014 11:43am
Quoting weti
silver is beginning to touch its demand zone finally.
agreed
but 19.9-20 would be better
Mind is like a parachute - it is useful only if open
  • #13,210
  • Edited 12:18pm Aug 4, 2014 11:56am | Edited 12:18pm
Price is bouncing off the 61.8 retracement level of fridays high/low... hence we could still be in the "AB" leg as indicated in the chart.... where we are in the middle of a 3 wave sub abc. I am not so far convinced with the volume levels though...

Therefore If price falls and closes below the 61.8% and closes below fridays price... then I think it is safe to assume that ab leg is over and bc has started... which should take price much lower.

https://www.tradingview.com/v/8S0iUgWJ/
  • #13,211
  • Aug 4, 2014 12:32pm Aug 4, 2014 12:32pm
trading has made me a better person. I have been learning to be very patient with XAUUSD and therefore with all other aspects of my life.

one week old longs just sitting there, waiting and waiting..
  • #13,212
  • Aug 4, 2014 12:48pm Aug 4, 2014 12:48pm
Quoting diegobeyer
trading has made me a better person. I have been learning to be very patient with XAUUSD and therefore with all other aspects of my life. one week old longs just sitting there, waiting and waiting..

That's the way it should be... (working on ones inner self rather than blaming a myriad of external factors)

Where are your longs and where are your stop losses? be careful though?
  • #13,213
  • Edited 1:45pm Aug 4, 2014 1:28pm | Edited 1:45pm
On the H4 TF, a reversal is on sight by having the harmonic pattern being formed. We are expecting to have the price increased near to 1324$ area if the roof of the channel broken around 1305$.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 84 KB
  • #13,214
  • Aug 4, 2014 1:42pm Aug 4, 2014 1:42pm
Quoting waleed.khan
{quote} That's the way it should be... (working on ones inner self rather than blaming a myriad of external factors) Where are your longs and where are your stop losses? be careful though?
I have longs @ 1304, 1299, 1298, 1294, 1287, 1283. I have a "mental" SL, not a fixed one. Although when I leave my trades unattended for a period of time (say at least 12-24 hours) I place SLīs accordingly. In this case, I would place one @ 1279-8 range, if necessary.
  • #13,215
  • Aug 4, 2014 5:25pm Aug 4, 2014 5:25pm
loaded on longs, now we ride it to 21.5 by the end of august!
  • #13,216
  • Aug 4, 2014 6:08pm Aug 4, 2014 6:08pm
Haha, I had being trading precious metal on forex for 5 years now, so weird to hear comments that a few dollars down and it is suddenly over sold. Gold used to have massive hundred dollars movement daily!
  • #13,217
  • Aug 4, 2014 6:47pm Aug 4, 2014 6:47pm
Gold is short at moment based on weekly chart... going short from 1280 to 1250. SL at 1301
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 23 KB
  • #13,218
  • Aug 4, 2014 7:42pm Aug 4, 2014 7:42pm
Quoting GreySkull
Gold is short at moment based on weekly chart... going short from 1280 to 1250. SL at 1301 {image}
> going short from 1280

----> currently @ 1288, looks like you'll have to wait before you can go short..
Hello World!
  • #13,219
  • Aug 4, 2014 8:05pm Aug 4, 2014 8:05pm
its still looking so bullish,the hour chart acted strange yesterday,so for forcing the price very much down to the 4hr support,i decided to leave my longs without take profit,sensing the daily resistance will be broken without the price coming back to 4 hr support (again)...daily res. for today 1301.05
  • #13,220
  • Aug 4, 2014 8:07pm Aug 4, 2014 8:07pm
besides...daily support at 1287.75,and the 1285.98 was the 4 hr support
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