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Only Gold!

  • #14,941
  • Aug 21, 2014 3:12am Aug 21, 2014 3:12am
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  • #14,942
  • Aug 21, 2014 3:15am Aug 21, 2014 3:15am
Quoting MaryJane
{quote} 1274.66 @LMAX
1276 on Avatrade

1272 on FXCM (as usual longer spike)
Hello World!
  • #14,943
  • Aug 21, 2014 3:18am Aug 21, 2014 3:18am
Quoting ClockTrader
{quote} 1276 on Avatrade 1272 on FXCM (as usual longer spike)
Why is that?
  • #14,944
  • Aug 21, 2014 3:18am Aug 21, 2014 3:18am
Quoting bonnzi
whats your low on the spike down fellas ? i have 1271.973
Dukascopy
  • #14,945
  • Aug 21, 2014 3:22am Aug 21, 2014 3:22am
How come on any of the gold charts on the internet there is no spike down? On FXPrimus it was 1271.53.
Is this stop hunting?
  • #14,946
  • Aug 21, 2014 3:26am Aug 21, 2014 3:26am
With the break of 1280 and the spike to 1272 I believe we shall see a further move down towards the 1250-60 area.
  • #14,947
  • Aug 21, 2014 3:26am Aug 21, 2014 3:26am
The selling does not appear to be over yet…. must continue to destroy longs souls.
  • #14,948
  • Aug 21, 2014 3:27am Aug 21, 2014 3:27am
Quoting blackhat
How come on any of the gold charts on the internet there is no spike down? On FXPrimus it was 1271.53. Is this stop hunting?
PA was and will always be a hitman hunting SLs.

You are right about spike absent in browsers
http://www.investing.com/commodities...advanced-chart

This is prolly coz

  1. these are not tick level live like MT4
  2. not exactly streaming data as they appear to pull price from a feed instead of live FX server

Hello World!
  • #14,949
  • Aug 21, 2014 3:29am Aug 21, 2014 3:29am
Quoting iaveight
{quote} Its supply and demand at work - my daily fib called this short weeks ago , not many believed me, i think maybe another 1 or 2 people - nothing to do with hunting If this level holds longs now, 1 buy limit triggered at the top of my zone second at the bottom at my 161 fib - third long position in case this breaks is prior bottoms
I was talking about his broker's quotes, not the price action. Yes gold is OTC but its pricing is mostly based off commodity futures traded on Nymex, LME, etc, but most retail traders do not trade gold on these exchanges, instead they use bucket shops that provide them with ridiculous quotes that are totally out of line with the actual "market price". This isn't the most ridiculous instance of stop hunting, I've seen price quotes from bucket shops deviate over $10 i.e $1310 high printed on Nymex but $1320 traded on the bucket shop's platform.

Why do people continue to use them? Is it due to the lower margin requirements, or is it something else?
"Where you want to be is always in control, never wishing, always trading.
  • #14,950
  • Aug 21, 2014 3:30am Aug 21, 2014 3:30am
Quoting Ck87
The selling does not appear to be over yet…. must continue to destroy longs souls.
I shall remain cautious with my first set of 10 longs until mid of next week.

Even if we have reached a bottom, its going to go sideways on H4 and Daily charts, 5 - 10 $s up / down and so on....

PS: I might wanna add longs around 1260 if it reaches there by next weekend.
Hello World!
  • #14,951
  • Aug 21, 2014 3:32am Aug 21, 2014 3:32am
Quoting ClockTrader
{quote} I shall remain cautious with my first set of 10 longs until mid of next week. Even if we have reached a bottom, its going to go sideways on H4 and Daily charts, 5 - 10 $s up / down and so on.... PS: I might wanna add longs around 1260 if it reaches there by next weekend.
Agree with you.
  • #14,952
  • Aug 21, 2014 3:34am Aug 21, 2014 3:34am
Quoting blackhat
How come on any of the gold charts on the internet there is no spike down? On FXPrimus it was 1271.53. Is this stop hunting?
Its definitely stop hunting, and I bet no customers' buy orders got hit at those levels, only SLs were triggered.
"Where you want to be is always in control, never wishing, always trading.
  • #14,953
  • Aug 21, 2014 3:35am Aug 21, 2014 3:35am
Quoting Ck87
The selling does not appear to be over yet…. must continue to destroy longs souls.
hahahah CK i like the part of souls destroying its a fact and its true and once this souls destroyed we go long
and i believe the souls of the bulls now on the ground and most are now thinking to short higher
i have one long @ 1278.79 now now in green ('',)
Senior Trader Multi-Account Manager
  • #14,954
  • Aug 21, 2014 3:37am Aug 21, 2014 3:37am
Quoting ClockTrader
{quote} PA was and will always be a hitman hunting SLs. You are right about spike absent in browsers http://www.investing.com/commodities...advanced-chart This is prolly coz these are not tick level live like MT4 not exactly streaming data as they appear to pull price from a feed instead of live FX server
Thanks. What I then understand is that the real price of gold was trading for seconds well below 1980 and somewhere at 1971 & 72.
If that is the case I would consider it a stop hunt and for my trading that qualifies as an entry signal to go long as they pushed the price below the support level to built their position and take out everyone who is long and has their stops below 1980.

https://charts.mql5.com/5/498/xauusd...primus-ltd.png
  • #14,955
  • Aug 21, 2014 3:38am Aug 21, 2014 3:38am
Quoting lorix
{quote} hahahah CK i like the part of souls destroying its a fact and its true and once this souls destroyed we go long and i believe the souls of the bulls now on the ground and most are now thinking to short higher i have one long @ 1278.79 now now in green ('',)

Nice, yeah it's possible that it has bottomed but I'm not sure of that yet and if anything i think they will at least retest those lows before this week is over.

The market should basically be renamed Soul Destroyer at this point..
  • #14,956
  • Aug 21, 2014 3:41am Aug 21, 2014 3:41am
Quoting blackhat
{quote} Thanks. What I then understand is that the real price of gold was trading for seconds well below 1980 and somewhere at 1971 & 72. If that is the case I would consider it a stop hunt and for my trading that qualifies as an entry signal to go long as they pushed the price below the support level to built their position and take out everyone who is long and has their stops below 1980. {image}
You are half right, the "real price" of gold did trade below 1980 but it did not go below 1974.9.

http://www.cmegroup.com/trading/meta...ious/gold.html

Dec contract is the front month contract, 1974.9 was the low.
"Where you want to be is always in control, never wishing, always trading.
  • #14,957
  • Aug 21, 2014 3:43am Aug 21, 2014 3:43am
I'm actually starting to think we may go back to that 1240 level… It just looks that ugly. I've been firmly bearish on gold for a while now but the up moves get even me a bit excited for a semi-bull run. Seasonals may come into play in the next few weeks but as long as the fact remains that most people are long and are not covering/turning bearish then the highest % trades will remain to short.
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  • #14,958
  • Aug 21, 2014 3:50am Aug 21, 2014 3:50am
Quoting Ck87
{quote} Nice, yeah it's possible that it has bottomed but I'm not sure of that yet and if anything i think they will at least retest those lows before this week is over. The market should basically be renamed Soul Destroyer at this point..
this is the update for my daily chart, this is how i see it now if the bulles fail to take it up from here next target gonna be arround the 125X.xx
and if the bears where strong Enough could take it towered the 121X.xx
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Senior Trader Multi-Account Manager
  • #14,959
  • Aug 21, 2014 4:06am Aug 21, 2014 4:06am
just Came back From Margin Call,but no problem I M Still long on Gold,Do or Die Thats the Rule of Game
  • #14,960
  • Aug 21, 2014 4:13am Aug 21, 2014 4:13am
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how stupid a guy can be lool
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