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  • #13,941
  • Aug 11, 2014 11:33pm Aug 11, 2014 11:33pm
then the 1305.91 is holding,and this 4 hr will have a higher high....doesnt matter how much they squeeze the price down,there is no reason whatsoever to go below 1303...so it doesnt make since to go short hoping to squeeze the price a doller or two
  • #13,942
  • Aug 11, 2014 11:37pm Aug 11, 2014 11:37pm
Quoting ClockTrader
{quote} Opened 2 more shorts Net Position: 4 shorts
1305 does have good support but a H&S has formed waiting to be played out. Target 1295
Money Makes Money
  • #13,943
  • Aug 11, 2014 11:52pm Aug 11, 2014 11:52pm
does look like bearish price pattern but looking to buy the break lower
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  • #13,944
  • Aug 12, 2014 12:09am Aug 12, 2014 12:09am
Watching 4hr 38.2 fib (from 3.6.14) @1305 for confirmation of this down move.
As the lights go by so too do the shadows move
  • #13,945
  • Aug 12, 2014 12:14am Aug 12, 2014 12:14am
Quoting ClockTrader
Did you check Sonic System? http://www.forexfactory.com/showthread.php?t=114792 If I'm not wrong, its pure VSA {quote}
Yeah, did some research on it, still reading to get the full gist of it. IMO precious metals trade differently from currencies, thou I do see people using sonic for gold, but that's just my two cents on the subject. Been wanting to expose myself to a more pure method of trading, less indicators and such, and have heard that VSA and price action give good results, as well as building up good market fundamentals.

Quoting KiwiOz
{quote} 1305 does have good support but a H&S has formed waiting to be played out. Target 1295
opened my short at 1309 because of the H&S, closed it at 1305.5 as part of risk management.
waiting for another spike for a small short entry to the H&S pattern.
  • #13,946
  • Aug 12, 2014 12:15am Aug 12, 2014 12:15am
Quoting Matts Micro
Watching 4hr 38.2 fib (from 3.6.14) @1305 for confirmation of this down move.

im waching the 1305.91 and the 22sma mid on 5 minutes chart,please let me know whenever its confirmed your way,thanks
  • #13,947
  • Aug 12, 2014 12:28am Aug 12, 2014 12:28am
Would love to see those prior lows/stops taken out and test the backside of that red down-sloping channel line for the reversal long
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  • #13,948
  • Aug 12, 2014 12:35am Aug 12, 2014 12:35am
Quoting wafiqsalameh
{quote} its holding again

and again (1305.92 and 22sma mid on 5 min. chart)
  • #13,949
  • Aug 12, 2014 12:43am Aug 12, 2014 12:43am
Quoting wafiqsalameh
then the 1305.91 is holding,and this 4 hr will have a higher high....doesnt matter how much they squeeze the price down,there is no reason whatsoever to go below 1303...so it doesnt make since to go short hoping to squeeze the price a doller or two
and this 4hr will have a higher high,here it comes (they have to fix the middle and the dammage they done to it.....its a whole 25cent
  • #13,950
  • Aug 12, 2014 12:48am Aug 12, 2014 12:48am
Quoting KiwiOz
{quote} 1305 does have good support but a H&S has formed waiting to be played out. Target 1295
I would like to wait until NY morning before adding any more shorts..
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  • #13,951
  • Edited 1:30am Aug 12, 2014 12:55am | Edited 1:30am
after @1305 strong support tested reveral times... open long @1306 target @1313
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  • #13,952
  • Aug 12, 2014 1:01am Aug 12, 2014 1:01am
Quoting wafiqsalameh
{quote} and this 4hr will have a higher high,here it comes (they have to fix the middle and the dammage they done to it.....its a whole 25cent
Hey wafiq,
nice analysis, but I don't really understand how and why, would you mind to explain?
what's the basis for your analysis thou?
care to share or just point me in the right direction?
all I can see now is the price is testing the 1305 area where we can see a H&S forming.

Thanks in advance
  • #13,953
  • Aug 12, 2014 1:02am Aug 12, 2014 1:02am
Quoting ClockTrader
{quote} I used Volume & Spread Analysis as the basis of these trades. There is a free indicator 'Better Volume', you might wanna try your hands on it.
Cool.. Thanks CT. Hoping to learn more from the experts on this thread.
  • #13,954
  • Aug 12, 2014 1:12am Aug 12, 2014 1:12am
its a math...calculus...etc. thats why when ct ask me for supporting chart,i dont have any.all i have punch of pappers and a calculator,and please believe me when i say its hard to explain
  • #13,955
  • Aug 12, 2014 1:19am Aug 12, 2014 1:19am
Quoting wafiqsalameh
its a math...calculus...etc. thats why when ct ask me for supporting chart,i dont have any.all i have punch of pappers and a calculator,and please believe me when i say its hard to explain
Nice.
Not a math major myself, but did my fair share in engineering.
And yes, I do believe in certain mathematical models, but never had the patience to model the system. Although I am tempted to enter a small short at 1308.5~1309 area, as I believe the H&S can and will form.
However, I'd like to see how the London open plays out.
  • #13,956
  • Aug 12, 2014 1:24am Aug 12, 2014 1:24am
my opinion...on daily basis studies which is %90 right...gold still at the begining of bullish trend the start was @1298,and i called it many times that the daily trend breakout will give at least 50$ an once...so i will be vvvery surprised if i dont see at least 1350 this month
  • #13,957
  • Aug 12, 2014 1:31am Aug 12, 2014 1:31am
I plan to add about 2 more shorts by NY morning IF patterns support. In the meanwhile I just applied SL to shorts lying in the higher region in order to offset the losses from shorts in the lower region.

I shall be happy to take nominal loss, but not anything that looks bad in my account books.

In the process, if Gold shoots higher today, that would apparently bring down my floating profit a little.

PS: Net 6 shorts right now..
Attached Image
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  • #13,958
  • Aug 12, 2014 1:39am Aug 12, 2014 1:39am
hi:good morning to all..
can some one read this chart and tel me if is any true on this,..
Gold spot Intraday: consolidation in place.

Pivot: 1314

Analysis: Short positions below 1314 with targets @ 1305 & 1301.5 in extension.

Alternative scenario: Above 1314 look for further upside with 1323 & 1329 as targets.

Comment: The RSI is capped by a declining trend line. Prices are drawing a flat consolidation in a 1314-1305 trading range area.

http://www.tradingcentral.com/newsletter/spacer10.gif http://www.tradingcentral.com/chart/...0812065136.gif
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
all times learnning
  • #13,959
  • Aug 12, 2014 1:57am Aug 12, 2014 1:57am
Quoting wafiqsalameh
its a math...calculus...etc. thats why when ct ask me for supporting chart,i dont have any.all i have punch of pappers and a calculator,and please believe me when i say its hard to explain
Would you mind sharing this mathematical computation/theory your using? Example perhaps? Thanks!
  • #13,960
  • Aug 12, 2014 1:59am Aug 12, 2014 1:59am
This is a copy of Avatrade's opinion for today, not sure where you found this.

The lower band value of my DCB for today is 1300

and upper coincides with Avatrade's @ 1314 :-)


Quoting verdisol
hi:good morning to all.. can some one read this chart and tel me if is any true on this,.. Gold spot Intraday: consolidation in place. Pivot: 1314 Analysis: Short positions below 1314 with targets @ 1305 & 1301.5 in extension. Alternative scenario: Above 1314 look for further upside with 1323 & 1329 as targets. Comment: The RSI is capped by a declining trend line. Prices are drawing a flat consolidation in a 1314-1305 trading range area. {image} {image} Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot...
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