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Only Gold!

  • #13,901
  • Aug 11, 2014 9:21am Aug 11, 2014 9:21am
Quoting actorial
{image} - Fibo bounce off at 38.2 ( both 1H and 4H chart ) - hourly downward trend line broken ( seem legit ) Price heading for 1324 atleast? Can someone advise me on my analysis?
Your fib is drawn the wrong way round..sorry, otherwise break outs like that are not finite, price may ignore your or may view on breaking 1h minor down trend
  • #13,902
  • Aug 11, 2014 10:07am Aug 11, 2014 10:07am
Quoting DannyB
Bearish shooting star formed on Friday's COMEX gold futures daily chart . Price remains supported above the 50 and 200 period moving averages amid geopolitical tensions. However on Friday we saw outflows from holdings in SPDR Gold Trust (GLD) and the COT report showed that speculators cut their long positions in gold futures and options in the week to August 5th. {image}
You look quite right mate. I am on the same lines, but, would like to wait until this weekend for a peakout. Once I see it, I would like to sell.
Hello World!
  • #13,903
  • Aug 11, 2014 10:16am Aug 11, 2014 10:16am
Quoting ClockTrader
{quote} Hey mate, this is very interesting, can you advise the resource? where I can obtain such data?
It would be very nice if we have gold data from 1970 to now on MT4, so we can study clearly about that pattern to find the most accurate turning point. Do you know if that data available on net ?
  • #13,904
  • Aug 11, 2014 10:43am Aug 11, 2014 10:43am
Quoting Mr.Kane
{quote} It would be very nice if we have gold data from 1970 to now on MT4, so we can study clearly about that pattern to find the most accurate turning point. Do you know if that data available on net ?
Right now working on this:

http://www.historicaldatadirectory.c...ntil-1793.html
Attached Image (click to enlarge)
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Hello World!
  • #13,905
  • Aug 11, 2014 11:13am Aug 11, 2014 11:13am
Quoting wafiqsalameh
and good luck with your golden season thing.....and try to hold down to your golden rules
Oh you don't need to take it that serious, i liked your post mostly because the were in line with my trades almost all the time even though i trade on longer timeframes.

Currently i am stuck with silver and a target of 20.80 which might happen to be even longer trade then i wanted but... i didn't expect that it will suddenly just stop following gold and go on its own...
  • #13,906
  • Aug 11, 2014 1:51pm Aug 11, 2014 1:51pm
based on technical and fundamental analysis there are very few posts that will really educated a novice here.
i might be wrong but it s more of an educated guess of short or long there are several that actually go short and long simultaneously is that not gambling. fair enough Gold seems very volatile, but at the least there should be better forecast into the movements (Bulls or Bears). Using smaller TF one can easily get safe 30 to 50 pips a day with combination of indicators. I have tried to study the waves pattern, triangles and co, but i dont really get it at all.
  • #13,907
  • Aug 11, 2014 2:06pm Aug 11, 2014 2:06pm
I think gold will drop some more in the next 2 hours, if not the daily candle will looked very funny
That which does not kill us makes us stronger
  • #13,908
  • Aug 11, 2014 2:17pm Aug 11, 2014 2:17pm
Quoting Mr.Kane
{quote} It would be very nice if we have gold data from 1970 to now on MT4, so we can study clearly about that pattern to find the most accurate turning point. Do you know if that data available on net ?
The most ive managed to get from mt4 is 15 years.
click on < tools, history center, find the pair/ product and click download, can take some time, i downloaded for one pair 200+ mb

nice post by CT of the polish site, i may look into that
  • #13,909
  • Aug 11, 2014 2:19pm Aug 11, 2014 2:19pm
Hello

I am not very good in reading charts and history but I love to trade and depends very much on EVENTS ( FUNDAMENTALS ) and had great success with it as well, and learn very much from CLOCKTRADER and MR WALEED , thanks to these legends . well i think gold will go down and may touch 1290 (+- 5 ) as geopolitical situation is getting better and because of the very strong support from 1280 last week. Moreover i Believe gold is no more safe heaven as there was a great bull in the YEN after air strike allowed by OBAMA that shows that investors use YEN as there hedging instrument rather than gold.

PLEASE CORRECT IF THERE IS SOMETHING AS I AM STILL VERY NEW..

NOTE * as i am new i donot suggest to sit on a short to other , though I am on short from 1316 with 40 oz and will wait for 1290 spot.
  • #13,910
  • Aug 11, 2014 2:28pm Aug 11, 2014 2:28pm
Quoting Goldglobal
. Using smaller TF one can easily get safe 30 to 50 pips a day with combination of indicators. I have tried to study the waves pattern, triangles and co, but i dont really get it at all.
Its not that simple to gain 30+ pips on xau per day, no way.
Take today for example, only has a range of 50 pips so far, so hypothetically the day opens which way do you go.. long or short?
Even on a low time frame it takes a while for indicators to give a signal so lets say today the signal kicked in for a sell at 1308, with spread and a modest target of 30 pips the target would not have been reached, so now your a sitting duck, maybe now it just skyrockets and so your still sitting with a sell signal and only at 1315 a long signal kicks in and what do you know the price now retraces back to 1310.
There are various possibilities and trying to bag 30-50 pips a day is not a simple feat.
But hey we are all here trying and working our own methods, some scalps some med- long term, heck we all mix it up, anyway i believe your only as good as your back testing
  • #13,911
  • Aug 11, 2014 2:36pm Aug 11, 2014 2:36pm
Quoting tamoor68
... though I am on short from 1316 with 40 oz and will wait for 1290 spot.
At times jpy and xau are correlated but not always, same with major indices, again not always, i would advise to trade what you see on one product/ pair and forget about where investors may be heading or how they hedge and invest. Some institutions will plow into gold with total disregard for other currencies, fundamentals etc.. honestly its chaos, just try perfect a strategy, use money management like a car seat belt and instill discipline like your life depends on it
  • #13,912
  • Aug 11, 2014 2:46pm Aug 11, 2014 2:46pm
@ Verve

I made 30 pips on 10mins TF buying from 16.10pm to 18.25pm using CCI,MACD, RSI, Williams, ADX and Stochastic.
I reprogrammed my indicators thus I only sell or buy when my indicators align. my main problem is that i cant actually predict the actual pips
i would make but I make 30 pips easily, if the indicators align and sometimes over 70pips if there is a significant news.
  • #13,913
  • Aug 11, 2014 2:47pm Aug 11, 2014 2:47pm
Quoting Verve
{quote} At times jpy and xau are correlated but not always, same with major indices, again not always, i would advise to trade what you see on one product/ pair and forget about where investors may be heading or how they hedge and invest. Some institutions will plow into gold with total disregard for other currencies, fundamentals etc.. honestly its chaos, just try perfect a strategy, use money management like a car seat belt and instill discipline like your life depends on it

THANKS FOR YOUR KIND ADVICE :

Can you please name some of the big institute so keeping an eye on them will be great... Moreover I analysed that usually on 12-Aug gold sink around $15 (avg) from 2005-2013, Does these sort of info and history mattesr?
  • #13,914
  • Aug 11, 2014 3:30pm Aug 11, 2014 3:30pm
Quoting Goldglobal
@ Verve I made 30 pips on 10mins TF buying from 16.10pm to 18.25pm using CCI,MACD, RSI, Williams, ADX and Stochastic. I reprogrammed my indicators thus I only sell or buy when my indicators align. my main problem is that i cant actually predict the actual pips i would make but I make 30 pips easily, if the indicators align and sometimes over 70pips if there is a significant news.
Sounds like you have a winner, nice work.
I use ATR 100 to give me a gauge for target area. Its simple as it can be used on all pairs/ products. ATR 100 gives average for last 100 bars, so either use the lower number or double it, whatever works, it makes figuring out how much pips to aim for a quick process

Post your charts sometime
  • #13,915
  • Aug 11, 2014 3:33pm Aug 11, 2014 3:33pm
Quoting tamoor68
{quote} Can you please name some of the big institute so keeping an eye on them will be great... Moreover I analysed that usually on 12-Aug gold sink around $15 (avg) from 2005-2013, Does these sort of info and history matters?
I looked back and 12aug 2005 xau price went up 300 pips, 12aug 2006 was a sunday... forgive me but i did not bother with other dates. I posted an image of some institutions, there are so many not sure what your research will produce as you wont find their trading profiles.
Sure patterns repeat themselves but i must profess trading is chaos, just cos it works for the last 5 years means squat about the next 5-10 years
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  • #13,916
  • Aug 11, 2014 3:39pm Aug 11, 2014 3:39pm
Quoting Goldglobal
my main problem is that i cant actually predict the actual pips i would make but I make 30 pips easily, if the indicators align and sometimes over 70pips if there is a significant news.
Just to add.. def no way of knowing which move will be 20 or 500 pips, try to set an alert and move to break even, take some profit, thats what i do with one acct, i am only buying gold and trying to build long positions if in case this baby moves 500+ pips
have a great week fellas
  • #13,917
  • Aug 11, 2014 3:43pm Aug 11, 2014 3:43pm
@ Verve

i agreed with u on USDJPY!!!!!
see below



http://www.fxinstructor.com/blog/usd...ding-indicator
  • #13,918
  • Aug 11, 2014 4:01pm Aug 11, 2014 4:01pm
Quoting Verve
{quote} Sounds like you have a winner, nice work. I use ATR 100 to give me a gauge for target area. Its simple as it can be used on all pairs/ products. ATR 100 gives average for last 100 bars, so either use the lower number or double it, whatever works, it makes figuring out how much pips to aim for a quick process Post your charts sometime

I cant figure out what you meant by the ATR100, i tried using it but no luck.

we can both do a live session sometimes in future. kindly send me your email, my email is [email protected]
  • #13,919
  • Aug 11, 2014 8:43pm Aug 11, 2014 8:43pm
Opened a short @ 1306
Hello World!
  • #13,920
  • Aug 11, 2014 9:02pm Aug 11, 2014 9:02pm
Quoting ClockTrader
Opened a short @ 1306
One more short @ 1307

Logic: There was a peak out on VSA-H1 which completed its course on Fri (Aug-08), while there has been correction in price, yet, I'm not upbeat about longs. Going Forward I would like to add shorts by this weekend.

I would love to add more shorts if there is a peak out ahead this week.
Hello World!
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