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Only Gold!

  • #15,361
  • Aug 28, 2014 3:15pm Aug 28, 2014 3:15pm
Gold spot Intraday: bullish bias above 1284.
Pivot: 1284

Our preference: Long positions above 1284 with targets @ 1296 & 1302 in extension.

Alternative scenario: Below 1284 look for further downside with 1280 & 1274 as targets.

Comment: Technically the RSI is above its neutrality area at 50.

Supports and resistances:
1306
1302
1296
1289.7 Last
1284
1280
1274
Attached Image
  • #15,362
  • Edited 4:54pm Aug 28, 2014 4:25pm | Edited 4:54pm
Hi CT.....Thanks again for your inspiring position strategies. Looking forward to the article you are writing. Oh yeah, forgot to ask....are you using a swap free account?
Shapeshift greed and catch em' off guard
  • #15,363
  • Aug 28, 2014 4:58pm Aug 28, 2014 4:58pm
Gold is turning bullish on the daily chart, so if you must sell be careful, and do not forget your stop loss.
POSSIBILITIES ARE INFINITE, YOU CAN ACCOMPLISH ANYTHING!
  • #15,364
  • Aug 28, 2014 9:07pm Aug 28, 2014 9:07pm
Quoting Czaray
Hi CT.....Thanks again for your inspiring position strategies. Looking forward to the article you are writing. Oh yeah, forgot to ask....are you using a swap free account?
I do pay overnight rollover charges. Given the profits, they look small, so, I don't care.

I just closed 5 longs, a little profit taking is not bad, might have to take a small loss later, it'll help cover that. Loads of shorts been closing in green this week.

Attached is how I'm setup for today..

Today, I'm not confident on how to handle the volatility & wildness in air.
Attached Images
Hello World!
  • #15,365
  • Aug 28, 2014 9:15pm Aug 28, 2014 9:15pm
Yesterday PA BO from 4 daily inside candles but is now back in range and the BO being just a wick. A further break of the high of the engulfing candle could potentially imo see further bulls emerge. There is still a lot resistance to break through on the daily from mid April to mid May but with a break above, it could become a good level of support and additionally increase the momentum of the bulls. A break below 1275 would likely bring strong bears on board for a break in the daily TL (from 31.12.13) but considering it is a well watched line there is also potential for a FO before the real move.

Silver has acted accordingly to the 19.6.14 daily BO of the falling TL (from 3.9.13) and has pulled back to the TL and imo now started its trek back toward the highs of July. If a break above July highs it would signify a major TL broken for a LT trend. A further ST pullback before the move however can not be ruled out. If 19.31 support is broken then should see a further move to 19.11, if this level is broken I expect to see further selling. Watching the weekly support @18.60, if broken could see LT bears come on board.
As the lights go by so too do the shadows move
  • #15,366
  • Aug 29, 2014 2:00am Aug 29, 2014 2:00am
Any thoughts fellas? How this is going to play out today? I'm trying to play safe and low today.
Hello World!
  • #15,367
  • Aug 29, 2014 2:03am Aug 29, 2014 2:03am
Quoting ClockTrader
Any thoughts fellas? How this is going to play out today? I'm trying to play safe and low today.
Also safe and low today.
I think Russia is long on Gold and Silver. Only bad news in Ukraine-Russia.
http://edition.cnn.com/2014/08/28/wo...html?hpt=hp_t1
  • #15,368
  • Aug 29, 2014 2:07am Aug 29, 2014 2:07am
1290/89 is important for Gold. Leaving this area should be continuous..
69
  • #15,369
  • Aug 29, 2014 2:07am Aug 29, 2014 2:07am
Quoting ClockTrader
Any thoughts fellas? How this is going to play out today? I'm trying to play safe and low today.
i think if it touches 1284 then its going down to 1279.. but i have opened one long on 1290.05 . lets see how it goes.
  • #15,370
  • Aug 29, 2014 2:16am Aug 29, 2014 2:16am
Quoting drunkeyez302
{quote} i think if it touches 1284 then its going down to 1279.. but i have opened one long on 1290.05 . lets see how it goes.
saame toughts
Neural Network Algorithm and Econophysics
  • #15,371
  • Aug 29, 2014 2:18am Aug 29, 2014 2:18am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 55 KB
Neural Network Algorithm and Econophysics
  • #15,372
  • Aug 29, 2014 2:27am Aug 29, 2014 2:27am
Was going back through my charts ( I have 2 live accounts with Pepperstone and Go Markets) and noticed the huge difference with price on the spike down at 1:00 on the 28/8. Both charts attached. The spike down on 22/8 at 17:00 were the same at 1274 but the other spike has a difference of $17 with Pepperstone low of 1272:50 to Go Markets 1255:39.
I have noticed before that Go Markets can have larger spikes but this is enormous.
What was the low with your broker?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSDH1 Pepperstone.png Size: 33 KB
Click to Enlarge Name: XAUUSDH1 Go Markets.png Size: 25 KB
  • #15,373
  • Aug 29, 2014 2:30am Aug 29, 2014 2:30am
Quoting KarlHakan
{quote} Also safe and low today. I think Russia is long on Gold and Silver. Only bad news in Ukraine-Russia. http://edition.cnn.com/2014/08/28/wo...html?hpt=hp_t1
i am long on gold but to tell you the truth the fact that Russia is long kind of worries me
i dont think big fellas would allow gold to skyrocket so that Russia gains out of it
still US and EU must do something about Ukraine so that they dont look like idiots so i expect tension to rise
looking at 4H the last two candles looks bullish to me
  • #15,374
  • Aug 29, 2014 2:49am Aug 29, 2014 2:49am
I think it will go down to 1282 before NY session,

Current support is 1288 which will break soon..
  • #15,375
  • Aug 29, 2014 2:56am Aug 29, 2014 2:56am
Quoting Ramii
I think it will go down to 1282 before NY session, Current support is 1288 which will break soon..
i dont agree with you.
  • #15,376
  • Aug 29, 2014 3:00am Aug 29, 2014 3:00am
I agree with those traders who think this is coming down, however, I believe after the fall, the price should bounce.

This does make me concerned about the SLs I have @ 1277, that will only result in loss, minor though.

I don't mind if it goes down to 1271 as that will result in nice profit realization.

Rationals behind a bounce after fall: I believe we are inside a bounce rally and this ain't over yet.
Hello World!
  • #15,377
  • Aug 29, 2014 3:03am Aug 29, 2014 3:03am
Hello everyone and goodmorning
i just closed the gold since yesterday didnt like the market and holding it all that time with not much profit closed it from 1291.43 at 1288.34
Senior Trader Multi-Account Manager
  • #15,378
  • Aug 29, 2014 3:03am Aug 29, 2014 3:03am
Quoting gregben
Was going back through my charts ( I have 2 live accounts with Pepperstone and Go Markets) and noticed the huge difference with price on the spike down at 1:00 on the 28/8. Both charts attached. The spike down on 22/8 at 17:00 were the same at 1274 but the other spike has a difference of $17 with Pepperstone low of 1272:50 to Go Markets 1255:39. I have noticed before that Go Markets can have larger spikes but this is enormous. What was the low with your broker? {image} {image}
I used to trade with GOMarkets and they weren't too bad 3+ years ago. I have now thrown that broker in the dust bin for multiple reasons. My advice is get out while you can. I had low of 1273.37.
As the lights go by so too do the shadows move
  • #15,379
  • Aug 29, 2014 3:15am Aug 29, 2014 3:15am
Quoting Matts Micro
{quote} I used to trade with GOMarkets and they weren't too bad 3+ years ago. I have now thrown that broker in the dust bin for multiple reasons. My advice is get out while you can. I had low of 1273.37.
Yes I use Pepperstone as my main account and really only use Go Markets for charting on my second monitor. Their spreads are not as good as Pepperstone either.
  • #15,380
  • Aug 29, 2014 3:26am Aug 29, 2014 3:26am
Quoting gregben
{quote} Yes I use Pepperstone as my main account and really only use Go Markets for charting on my second monitor. Their spreads are not as good as Pepperstone either.
I thought spikes on FXCM were the worst.
Hello World!
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