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  • #14,961
  • Aug 21, 2014 4:19am Aug 21, 2014 4:19am
Just posted a short @ 1280.26, my TP is set to 1275
  • #14,962
  • Aug 21, 2014 4:21am Aug 21, 2014 4:21am
there is what seems to be an exhaustive bearish bar on H1 which is likely to mark the bottom (perhaps temporary), can anyone attach H1 chart with volume data so that i can confirm?
I recommend you read something else as this sentence is now concluded.
  • #14,963
  • Aug 21, 2014 4:24am Aug 21, 2014 4:24am
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}
Pretty close to what I'm thinking. 100% of my VSA calculus is based on such PA.

IF this is indeed the bottom (1260-70 range), the price should travel sideways for 2-4 working days, like I said earlier 5 - 10 $s up / down, needs to consolidate.
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  • #14,964
  • Aug 21, 2014 4:25am Aug 21, 2014 4:25am
perhaps too simplistic but i will rather wait will try a long around 1265 if it gets there quickly, targeting 1292ish.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-08-21 11_10_44-XAUUSD,H4.png Size: 63 KB
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  • #14,965
  • Aug 21, 2014 4:27am Aug 21, 2014 4:27am
Quoting Ck87
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. {image}
Quoting Ck87
{quote} I was long term bull and still am and will be for very long time, 1800-1900 level got me very very bearish….. now I'm very bullish shorter term for strong seasonals. I think we will fail at 1400-1500 and range and make new lows next year… but for now I'm long baby
Quoting Ck87
{quote} It will, don't you worry at all. By next week We will see 1308 again, you can put your life on that.
firmly bearish on gold you are saying.... the last two quotes are from last week man
i dont want to get into argument or anything. there is nothing wrong to change your perspective,on the contrary i think its good
i just really hope newbies in here like me try to learn and not just blindly follow seniors because....everyone can be wrong once in a while
  • #14,966
  • Aug 21, 2014 4:29am Aug 21, 2014 4:29am
Quoting MaryJane
perhaps too simplistic but i will rather wait will try a long around 1265 if it gets there quickly, targeting 1292ish. {image}
Makes sense to me....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #14,967
  • Aug 21, 2014 4:32am Aug 21, 2014 4:32am
Quoting bonnzi
{quote} {quote} {quote} firmly bearish on gold you are saying.... the last two quotes are from last week man i dont want to get into argument or anything. there is nothing wrong to change your perspective,on the contrary i think its good i just really hope newbies in here like me try to learn and not just blindly follow seniors because....everyone can be wrong once in a while
Yes like I said the up moves even get me a bit excited at times…. Flexibility is clearly a part of trading.

I was thinking higher this week but all the signs were showing further weakness so I exited longs (and should have went short) … shoulda coulda woulda
  • #14,968
  • Aug 21, 2014 4:43am Aug 21, 2014 4:43am
{quote} firmly bearish on gold you are saying.... the last two quotes are from last week man i dont want to get into argument or anything. there is nothing wrong to change your perspective,on the contrary i think its good i just really hope newbies in here like me try to learn and not just blindly follow seniors because....everyone can be wrong once in a while [/quote]


And you should never follow/take tips from anyone. It's only gotten me into trouble and continues to. Gotta swim your own races in this business.
  • #14,969
  • Aug 21, 2014 4:54am Aug 21, 2014 4:54am
So thinking about this scenario
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Click to Enlarge Name: G.jpg Size: 295 KB
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  • #14,970
  • Aug 21, 2014 4:57am Aug 21, 2014 4:57am
Quoting MaryJane
perhaps too simplistic but i will rather wait will try a long around 1265 if it gets there quickly, targeting 1292ish. {image}
Thanks for sharing, really good one
I Have Learned to Take Some Losses to Make Profits
  • #14,971
  • Aug 21, 2014 5:15am Aug 21, 2014 5:15am
ill be so happy to close my long around the 1288 and would think of shorting again over the 88
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  • #14,972
  • Aug 21, 2014 5:18am Aug 21, 2014 5:18am
Quoting TheScorpS
So thinking about this scenario {image}

No
  • #14,973
  • Aug 21, 2014 5:18am Aug 21, 2014 5:18am
Quoting ClockTrader
{quote} Pretty close to what I'm thinking. 100% of my VSA calculus is based on such PA. IF this is indeed the bottom (1260-70 range), the price should travel sideways for 2-4 working days, like I said earlier 5 - 10 $s up / down, needs to consolidate.
Good point I agree with the sideways, The trend reversal is just a posibility and often it does not happen.
If this is a down trend I would be suprised though that we do not have a retrace up to 1287. The price should first trade up to where New York boys were loading their orders so they get in the last downtrend...
  • #14,974
  • Aug 21, 2014 5:19am Aug 21, 2014 5:19am
Quoting ClockTrader
{quote} Pretty close to what I'm thinking. 100% of my VSA calculus is based on such PA. IF this is indeed the bottom (1260-70 range), the price should travel sideways for 2-4 working days, like I said earlier 5 - 10 $s up / down, needs to consolidate.

I'm inclined to agree with you. I believe that whatever happens today in US open session, we shall end up broadly where we are now by the end of UK session.
  • #14,975
  • Aug 21, 2014 5:24am Aug 21, 2014 5:24am
Quoting bhav85
Just posted a short @ 1280.26, my TP is set to 1275
nice transaction has been opened,
if i were you i will make my TP slightly down a lil bit for more profit like 1272
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  • #14,976
  • Aug 21, 2014 5:33am Aug 21, 2014 5:33am
nice break @ 1282.10
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  • #14,977
  • Aug 21, 2014 5:41am Aug 21, 2014 5:41am
Quoting Landline
{quote} Price is hesitant at present, but pa since April tells us that the 1280 level has been a critical turning point on many occasions since then. Why fight it...let it come to us again and trade an approprate signal in that kind of range when it arrives in a day or two is my suggestion.
We have arrived back at the 1280 territory....time now to seriously check for obvious buy signals I believe, in whatever is your preferred method. For me, I'm going to start planting my longs the moment 1279 returns and then add to my positions upon further satisfactory pa....my initial profit taking target is 1320, which at that point price should breach one of my target channels, and then 1340 perhaps. Re assessment needed upon reaching 1320 first though. Good luck
  • #14,978
  • Aug 21, 2014 5:48am Aug 21, 2014 5:48am
Hi Guys,

I'm also a new trader but this is what I see. Any input welcome. The three red lines shows where RSI crossed 30 and then Gold went up. There is also nice support at 1280. Thinking that this might be a good place to long.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH4.png Size: 44 KB
  • #14,979
  • Aug 21, 2014 5:51am Aug 21, 2014 5:51am
Excuse me if this has been posted recently, Sive Morten's analysis:

http://www.forexpeacearmy.com/forex-...22-2014-a.html
  • #14,980
  • Aug 21, 2014 5:53am Aug 21, 2014 5:53am
Quoting Willer
Hi Guys, I'm also a new trader but this is what I see. Any input welcome. The three red lines shows where RSI crossed 30 and then Gold went up. There is also nice support at 1280. Thinking that this might be a good place to long. {image}

nice chart,i always like to see simple chart bro i m long on gold,do as u like
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