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  • #14,861
  • Aug 20, 2014 1:54pm Aug 20, 2014 1:54pm
I am still in some very small cautious longs with SL @ 1283. FED minutes seem to suggest that they will provide sufficient warning before rates increase in rates, whatever that means. September, and especially October when QE is slated to end are key..as Fed most likely to provide forward guidance (or what it characterizes as such). I think scalping in a ranging market until then, unless geopolitics trumps.
"The market can remain irrational longer than you can remain solvent"
  • #14,862
  • Aug 20, 2014 1:56pm Aug 20, 2014 1:56pm
Quoting Obaidah
{quote} its very likely that this spike will turn out to be a trap so you better take care.
Gold played out as expected, closed most of the shorts and kept only small portions with stops at positive, hope nobody is locked in up there.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH1.png Size: 32 KB
I recommend you read something else as this sentence is now concluded.
  • #14,863
  • Aug 20, 2014 1:59pm Aug 20, 2014 1:59pm
Quoting waleed.khan
{quote} Higher time frame is always more credible... One should start at the higher tf then move lower even in terms of analysis. What makes it more credible is if the lower time frames are in line with the higher time frames... 1 hr is not really considered a low time frame -- actually it gives very good volume levels for elliott wave analysis. The daily elliott wave level is 1292.7; which s crucial however the hour candle close is closer and if price doesn't go above 1291.6 then the probability of it closing above 1292.7 becomes a lot less.

Actually there are 2 values for the ewave on the hourly chart...

one is 1291.6 and the other is 1290.4 (depends on the count/alternate count)
  • #14,864
  • Aug 20, 2014 2:01pm Aug 20, 2014 2:01pm
Quoting waleed.khan
{quote} Higher time frame is always more credible... One should start at the higher tf then move lower even in terms of analysis. What makes it more credible is if the lower time frames are in line with the higher time frames... 1 hr is not really considered a low time frame -- actually it gives very good volume levels for elliott wave analysis. The daily elliott wave level is 1292.7; which s crucial however the hour candle close is closer and if price doesn't go above 1291.6 then the probability of it closing above 1292.7 becomes a lot less.
Bro 1 H candle is completed please Share you Eliot Wave Anlysis With us,I M Sure We all ll learn A lot
  • #14,865
  • Aug 20, 2014 2:03pm Aug 20, 2014 2:03pm
hey bud, good to see you around.


Quoting EatPIPs
I hope all those buying right now are just scalping.
  • #14,866
  • Aug 20, 2014 2:07pm Aug 20, 2014 2:07pm
Quoting ssaqeel
hey bud, good to see you around. {quote}
To live a successful life, we must lose our fear of being wrong
  • #14,867
  • Aug 20, 2014 2:16pm Aug 20, 2014 2:16pm
Quoting qaiser4u007
{quote} Bro 1 H candle is completed please Share you Eliot Wave Anlysis With us,I M Sure We all ll learn A lot

I got 1290.1 on my close and I wanted 1290.4 to 1291.6...according to this it seems that the structure/count is broken by a very slim amount; however since all our quotes will differ a little due to different brokers one can argue that there is still hope...(based on the hourly chart)

But I have become less optimistic now & more cautious... However there is a great case for the equity markets and the usd index peaking out soon which can propel the price higher... If gold sustains at these levels and closes above 1293 there is still hope in this run...
  • #14,868
  • Aug 20, 2014 2:20pm Aug 20, 2014 2:20pm
Quoting Obaidah
{quote} Gold played out as expected, closed most of the shorts and kept only small portions with stops at positive, hope nobody is locked in up there. {image}
What Moving averages r u using? Thanks
  • #14,869
  • Aug 20, 2014 2:31pm Aug 20, 2014 2:31pm
Quoting waleed.khan
{quote} I got 1290.1 on my close and I wanted 1290.4 to 1291.6...according to this it seems that the structure/count is broken by a very slim amount; however since all our quotes will differ a little due to different brokers one can argue that there is still hope...(based on the hourly chart) But I have become less optimistic now & more cautious... However there is a great case for the equity markets and the usd index peaking out soon which can propel the price higher... If gold sustains at these levels and closes above 1293 there is still hope...
very nice bro,i m a simple trader i only use eliots,indicators,oscilators as an extra things,PA stretegy always work and simple support and ressitance..i m waiting for a daily closure then i will be able to say any thing with cofidence
  • #14,870
  • Aug 20, 2014 2:53pm Aug 20, 2014 2:53pm
For what it's worth here's a chart of the US index. Has not reached the 161.8 extension of the trend line break yet. Looks like it could run into some pretty good supply around that level.
Attached Image (click to enlarge)
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Shapeshift greed and catch em' off guard
  • #14,871
  • Aug 20, 2014 3:22pm Aug 20, 2014 3:22pm
Sold At 1294 TP 1285 SL at 1297. God be with me.
  • #14,872
  • Aug 20, 2014 7:48pm Aug 20, 2014 7:48pm
USD index and Dow Jones still going strong, wonder how long will this bull run.

on a side note, silver didnt move much from yesterday USD index bull run.
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Attached Images
  • #14,873
  • Aug 20, 2014 7:59pm Aug 20, 2014 7:59pm
Quoting qaiser4u007
{quote} market is really unpridictable,some times our analysis get failed but it does nt mean that we are lossers,we should belive that every day is a new day for trader...so set your target of profit and loss if hit then stay calm,come another day
A trader need not feel like a loser, certainly should not do, but, at the end of day when you go to sleep with booty or a loss, each one has its effects on our minds. We are human beings after all, got bills to pay, we need to make money eventually. First few years are fine for learning etc, but, when you climb the ladder.. you know what I mean.
Hello World!
  • #14,874
  • Aug 20, 2014 8:00pm Aug 20, 2014 8:00pm
Quoting pipsbull
Hi, folks. Copper may give us a hint. Gold wasn't able to break the lows of the 15th and is sitting on the support coming back from at least of the summer start. I go for long. {image} {image}
Your VSA bars look good to me.
Hello World!
  • #14,875
  • Aug 20, 2014 8:04pm Aug 20, 2014 8:04pm
The 80ish PA blew 4 of my longs (average in green). Had 6 longs open.

Just re-opened 2 longs, total 4 longs active now.

I plan to buy (invest) without SL going forward.

Today, tomorrow and until next weekend, plan to build longs slowly & steadily.

42 longs
38 shorts
NET: 4 longs

PS: Plan to let shorts blow IF price climbs in the next 2 weeks.
Hello World!
  • #14,876
  • Aug 20, 2014 8:08pm Aug 20, 2014 8:08pm
Quoting ClockTrader
The 80ish PA blew 4 of my longs (average in green). Had 6 longs open. Just re-opened 2 longs, total 4 longs active now. I plan to buy (invest) without SL going forward. Today, tomorrow and until next weekend, plan to build longs slowly & steadily. 42 longs 38 shorts NET: 4 longs PS: Plan to let shorts blow IF price climbs in the next 2 weeks.


Investing is the best way to go. So much easier than the short term trading game.
  • #14,877
  • Aug 20, 2014 8:11pm Aug 20, 2014 8:11pm
Quoting ClockTrader
The 80ish PA blew 4 of my longs (average in green). Had 6 longs open. Just re-opened 2 longs, total 4 longs active now. I plan to buy (invest) without SL going forward. Today, tomorrow and until next weekend, plan to build longs slowly & steadily. 42 longs 38 shorts NET: 4 longs PS: Plan to let shorts blow IF price climbs in the next 2 weeks.
Clock trader, mind to share why do you enter long?
  • #14,878
  • Aug 20, 2014 8:16pm Aug 20, 2014 8:16pm
Yes analysis does lose sometimes, but there is enough re-occurrence of patterns etc to validate using it. Here is a couple of trade scenarios I see with the blue and white lines. Lots of confluence at current level. 1278 is a level with lots of support and resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH4.png Size: 37 KB
Shapeshift greed and catch em' off guard
  • #14,879
  • Aug 20, 2014 8:22pm Aug 20, 2014 8:22pm
Quoting Ck87
{quote} Investing is the best way to go. So much easier than the short term trading game.
Yea mate, price keeps coming where it was, you just need a simple vision. Moreover Golden Seasons are good, always good.

Quoting yunghan
{quote} Clock trader, mind to share why do you enter long?
Yea, I forgot to add the logic part :-)

here you go..

 

  1. Nice gigantic bottom-out bar on VSA-M15 (not enough, but interesting & worth considering)
  2. Very nice bottom-out bar on VSA-M30 as well
  3. Not bad looking (kinda small spread) bottom-out bar on H1
  4. Given the falls occurring recently, these bottom-outs are asking for respect & action.
  5. Above all we are inside Golden Seasons.

Now, of course, no trader can precisely predict where exactly the bottom is, so, this is how I like to buy (invest). Buy in a broad range w/o SL in micro-lots.

The way I see, bottom is close, pretty close.

Hello World!
  • #14,880
  • Aug 20, 2014 8:23pm Aug 20, 2014 8:23pm
Quoting Czaray
Yes analysis does lose sometimes, but there is enough re-occurrence of patterns etc to validate using it. Here is a couple of trade scenarios I see with the blue and white lines. Lots of confluence at current level. 1278 is a level with lots of support and resistance. {image}
Your chart looks good mate. Even I've been saying that we can bottom out in the 70-80ish range.
Hello World!
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