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  • #14,801
  • Aug 20, 2014 6:16am Aug 20, 2014 6:16am
Quoting Ck87
Could be the start of the bullish move now…… I wish all of you the best this week. Whatever you do, just manage your money properly
Good Evening Ck And CT yesterday my SL Was hited I Said in my last post That i m leaving and I Was hoping that it Will be The be the new Day Today,any way i have opened Two possitions At 1293 and 1294$ now And Waiting for 1313 $ Hope That today i Will Recover my yesterday loss
  • #14,802
  • Aug 20, 2014 6:17am Aug 20, 2014 6:17am
removed the sell limit order
Senior Trader Multi-Account Manager
  • #14,803
  • Aug 20, 2014 6:19am Aug 20, 2014 6:19am
Strong Rejection At 1291 $ hoping To See 1313 soon
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  • #14,804
  • Aug 20, 2014 6:31am Aug 20, 2014 6:31am
CT was it a peak out @ 1hr?
  • #14,805
  • Aug 20, 2014 6:37am Aug 20, 2014 6:37am
Quoting ClockTrader
{quote} took 1 long @ 1294 with SL @ 1289 Logic: bottom out on M30 (VSA)
Quoting ClockTrader
{quote} added 1 more NET: 2 longs..
These have survived so far, I wasn't very optimistic about these at one point though.

Closed 4 shorts in nice green which were lying @ 1303-04

NET now: 6 longs

Shuffled SLs around in order to mitigate risk from longs.

IF it falls, 4 longs will close in average green. 2 will remain there w/o SL

Shorts will begin to blow up in Green if it flies above/around 1300
Hello World!
  • #14,806
  • Aug 20, 2014 6:37am Aug 20, 2014 6:37am
Quoting msh310
CT was it a peak out @ 1hr?
not any in this week.
Hello World!
  • #14,807
  • Aug 20, 2014 6:53am Aug 20, 2014 6:53am
Generally I don't enjoy playing divergence but it looked very nice. Done for the day with 37 pips.
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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #14,808
  • Aug 20, 2014 7:15am Aug 20, 2014 7:15am
http://pcmupload.broker-fa.org/uploa...8536768561.png
  • #14,809
  • Aug 20, 2014 7:28am Aug 20, 2014 7:28am
My view still remains the same: https://www.tradingview.com/v/7e2W56nR/

shorter term view: https://www.tradingview.com/v/Lv2pbNZa/


As I had said before this will be a very hard struggle for bulls to keep prices up; and so far gold has held above 1290; although I am not that happy with the relative volumes...

USD index is on the verge of retracing and this should help gold up...

We also have the Fed speaking today; this could spike the price in both directions; however this could finally give the impetus to breakout.

Even though I don't do time analysis... I think it should be noted that the bull run began on aug 1st and the last high was on 8th august; and we might just start the new cycle on the 21st... (all fibonacci numbers)
  • #14,810
  • Aug 20, 2014 7:32am Aug 20, 2014 7:32am
Just shorted gold now @ 1297.02
Senior Trader Multi-Account Manager
  • #14,811
  • Aug 20, 2014 8:27am Aug 20, 2014 8:27am
usd index is now retracing
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  • #14,812
  • Aug 20, 2014 9:13am Aug 20, 2014 9:13am
I feel the retracement should be over soon, given the wave counting (if it makes sense, of course). The major 2nd wave (corrective on 4hour) is divided into ABC. We are now in the wave C, which then divided into 5 impulsive waves. I believe we are now still in the 5th wave of C.

Per the chart attached, looking into 1hour, a minor degree of wave C which are impulsive labelling 1-5. We can see that 5th wave of C might also divided into another 5 waves! (very complex retracement pattern here, I'd say).

The minor wave iii is stopped at around 1293 (78.6% projection), at present making a wave iv (Please note: the count would be incorrect if later wave iv overlaps wave i). Therefore, it looks like there should be another 1 more wave down to complete wave v of the 5th wave of C before a bull run.

In terms of target for downward projection, elliot wave rule establishes that wave 3 will never be the shortest amongst 1,3,5. At the moment, wave iii is shorter than wave i, so hopefully the coming wave v would be shorter than the wave iii so that the rule satisfies. For me 1288-1290 looks like a very strong support.

That's just my two cents on this. Just thought I share it here so people could comment on Thanks!
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  • #14,813
  • Aug 20, 2014 9:25am Aug 20, 2014 9:25am
Quoting pat.van
I feel the retracement should be over soon, given the wave counting (if it makes sense, of course). The major 2nd wave (corrective on 4hour) is divided into ABC. We are now in the wave C, which then divided into 5 impulsive waves. I believe we are now still in the 5th wave of C. Per the chart attached, looking into 1hour, a minor degree of wave C which are impulsive labelling 1-5. We can see that 5th wave of C might also divided into another 5 waves! (very complex retracement pattern here, I'd say). The minor wave iii is stopped at around 1293 (78.6%...
Very well articulated - Sounds just about right to me...

Your 3rd subwave can also be further subdivided into a minor 5 subwave which makes it more plausible as it fits the (extension rule)...

Lets hope it stays/closes above 1290.

Good luck!
  • #14,814
  • Aug 20, 2014 9:27am Aug 20, 2014 9:27am
Quoting pat.van
I feel the retracement should be over soon, given the wave counting (if it makes sense, of course). The major 2nd wave (corrective on 4hour) is divided into ABC. We are now in the wave C, which then divided into 5 impulsive waves. I believe we are now still in the 5th wave of C. Per the chart attached, looking into 1hour, a minor degree of wave C which are impulsive labelling 1-5. We can see that 5th wave of C might also divided into another 5 waves! (very complex retracement pattern here, I'd say). The minor wave iii is stopped at around 1293 (78.6%...

Perfect! But remember three things :

a) FOMC minutes in abt 4hrs if they hint abt USD interest rate hike dooms for Gold 1288 wont hold
b) USD Index near 82.10 extremely bullish , Gold vs Usd might not hold 1288
c) Retail Sentiment 71% long Gold 29% short Gold our honorable brokers would have this info shared to Big boys already!
Scoobi doobi doo
  • #14,815
  • Aug 20, 2014 9:39am Aug 20, 2014 9:39am
Quoting waleed.khan
{quote} Very well articulated - Sounds just about right to me... Your 3rd subwave can also be further subdivided into a minor 5 subwave which makes it more plausible as it fits the (extension rule)... Lets hope it stays/closes above 1290. Good luck!
Thanks much! Yes, I was thinking as well that usually wave 3 would be extending 100% or over of wave 1. The subwave 3 might not be completed in that case. Makes me really tired to think there'll be more down on subwave 3 and yet subwave 5 to come. I'll keep an eye on. Good luck to you too!
  • #14,816
  • Aug 20, 2014 9:40am Aug 20, 2014 9:40am
Quoting Scoobidoobi
{quote} Perfect! But remember three things : a) FOMC minutes in abt 4hrs if they hint abt USD interest rate hike dooms for Gold 1288 wont hold b) USD Index near 82.10 extremely bullish , Gold vs Usd might not hold 1288 c) Retail Sentiment 71% long Gold 29% short Gold our honorable brokers would have this info shared to Big boys already!
Thank you for the reminders! Anything can really happen in this market.
  • #14,817
  • Aug 20, 2014 10:02am Aug 20, 2014 10:02am
So, fellas, are we going to see 1280ish today? What do you say?
Hello World!
  • #14,818
  • Aug 20, 2014 10:08am Aug 20, 2014 10:08am
Quoting ClockTrader
So, fellas, are we going to see 1280ish today? What do you say?

I think it should be just ranging between 1290 to 1300 before FOMC meeting minutes.
Should have a clearer view after that
  • #14,819
  • Aug 20, 2014 10:08am Aug 20, 2014 10:08am
Quoting Driver55
buy limit @ 1292.75
2. buy limit @ same price as above

SL if open < 1292.75 (on 1h basis)
The best thing that can happen to you is to find out where you're wrong.
  • #14,820
  • Aug 20, 2014 10:09am Aug 20, 2014 10:09am
I just closed my short gold at 1294
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