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  • #16,821
  • Oct 1, 2014 7:55am Oct 1, 2014 7:55am
Quoting Matts Micro
UJ hourly rising wedge threatening to BO. Will prob hold but may also go.
UJ may not be finished yet. This could consolidate at the top, perhaps a C&H formation to come.
As the lights go by so too do the shadows move
  • #16,822
  • Oct 1, 2014 8:01am Oct 1, 2014 8:01am
IMHO its too early for bulls or bears to be jumping up and down...

price is still stuck in a rut, no clear signal in either direction

though, i maintain my bullish bias and positioning due to the tremendous demand between 1215 and 1185, in addition to my composite outlook published over the weekend... Its hard to call it a victory until either side decidedly wins...

play with caution!

just my 2 cents...
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,823
  • Oct 1, 2014 8:02am Oct 1, 2014 8:02am
Say bye bye to gold now at 1215

At least I think so, could be wrong.... don't listen to me if you're bullish buy it up maybe you'll make good monies
  • #16,824
  • Oct 1, 2014 8:06am Oct 1, 2014 8:06am
Quoting Ck87
Say bye bye to gold now at 1215 At least I think so, could be wrong.... don't listen to me if you're bullish buy it up maybe you'll make good monies
I agree with you and hope you're right. It tried to break through twice and failed at 1215.
I am NOT an expert. I post to learn from others.
  • #16,825
  • Oct 1, 2014 8:07am Oct 1, 2014 8:07am
Quoting theDHT
IMHO its too early for bulls or bears to be jumping up and down... price is still stuck in a rut, no clear signal in either direction though, i maintain my bullish bias and positioning due to the tremendous demand between 1215 and 1185, in addition to my composite outlook published over the weekend... Its hard to call it a victory until either side decidedly wins... play with caution! just my 2 cents...
Quoting Matts Micro
{quote} If a convincing break of 1216 (confirmed hrly) happens, then imo the bull tide will be released in the st and could possibly be making a bottom in the process.
The VVSA patterns I posted are very solid, these peakouts just need to get invalidated, IF they get, I'm sure Bulls are Back!!
Hello World!
  • #16,826
  • Oct 1, 2014 8:11am Oct 1, 2014 8:11am
Quoting ClockTrader
{quote} {quote} The VVSA patterns I posted are very solid, these peakouts just need to get invalidated, IF they get, I'm sure Bulls are Back!!
this is also my bias,
i guess all im saying is that unless folks have a real good reason to be long or short (ie: a high conviction opinion) this price action has been nothing but chop for the last 2 weeks,
traders with longer time horizons would necessarily have the appropriate risk/money management to ride their position if it moves against them and know their limits...
im sure many of the the short term guys, "scalpers", are getting chopped up...
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,827
  • Oct 1, 2014 8:21am Oct 1, 2014 8:21am
Nice level to short
  • #16,828
  • Oct 1, 2014 8:22am Oct 1, 2014 8:22am
This is the hrly UJ pattern I mentioned, currently on a knifes edge atm. UJ hit a well document high today of 110 and though many (almost all I think) believe it will go higher it could be an excuse for a decent pullback. The 1 day correlation on myfxbook currently stands at -98.3% so is worth watching imo.
Attached Image
As the lights go by so too do the shadows move
  • #16,829
  • Oct 1, 2014 8:23am Oct 1, 2014 8:23am
I entirely agree.... it can still easily go either way at this point.... its a rangebound market at present, but a useful one nevertheless for nipping 5 dollar intraday trades here and there.

My bias though remains long as previously mentioned once the 1200 or the 1240 levels have been breached. Long either scenario will then represent better value to me to get into the market for a patient longer term trade, whilst scalping in between that range.

Each to their own of course!
  • #16,830
  • Oct 1, 2014 8:24am Oct 1, 2014 8:24am
Quoting ClockTrader
{quote} {quote} The VVSA patterns I posted are very solid, these peakouts just need to get invalidated, IF they get, I'm sure Bulls are Back!!

According to my volume analysis, it shows bearishness right now from M15 through H4, I could be wrong and gold can always do whatever it wants, but according to patterns i've seen recently we're heading back down.

Good luck all, no one knows what's going to happen for sure... gold can break out today for all we know.
  • #16,831
  • Oct 1, 2014 8:29am Oct 1, 2014 8:29am
Quoting ClockTrader
{quote} {quote} The VVSA patterns I posted are very solid, these peakouts just need to get invalidated, IF they get, I'm sure Bulls are Back!!
What is the condition for these peakouts to be invalidated?
  • #16,832
  • Oct 1, 2014 8:30am Oct 1, 2014 8:30am
Quoting Landline
I entirely agree.... it can still easily go either way at this point.... its a rangebound market at present, but a useful one nevertheless for nipping 5 dollar intraday trades here and there. My bias though remains long as previously mentioned once the 1200 or the 1240 levels have been breached. Long either scenario will then represent better value to me to get into the market for a patient longer term trade, whilst scalping in between that range. Each to their own of course!
It'll go soon after the 3 o clock news imo
  • #16,833
  • Oct 1, 2014 8:31am Oct 1, 2014 8:31am
Just opened 2 lots short, first TP 1204 and next @1200. Your Thoughts?
  • #16,834
  • Oct 1, 2014 8:33am Oct 1, 2014 8:33am
Momentum on higher TF's looks bullish, but trend is so strong to downside and volume shows bears.... Usually i stick with Trend+ Volume above any other indicators.
  • #16,835
  • Oct 1, 2014 8:40am Oct 1, 2014 8:40am
Quoting BullBearing
Just opened 2 lots short, first TP 1204 and next @1200. Your Thoughts?
not so sure? Will i close CT?
  • #16,836
  • Oct 1, 2014 8:55am Oct 1, 2014 8:55am
Caution bears. However this week has a long way to go yet.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd #51.png Size: 67 KB
As the lights go by so too do the shadows move
  • #16,837
  • Oct 1, 2014 9:07am Oct 1, 2014 9:07am
Quoting Matts Micro
Caution bears. However this week has a long way to go yet. {image}
heres another way to look at it:

Attached Image (click to enlarge)
Click to Enlarge Name: GOLD H1 10.1.14.png Size: 40 KB


I am always wary of confirmation bias...
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,838
  • Oct 1, 2014 9:20am Oct 1, 2014 9:20am
Quoting theDHT
{quote} heres another way to look at it: {image} I am always wary of confirmation bias...
Yer I have that too. It looks similar to the weekly.

I need a reason for confirmation. Atm UJ break / neg. USD news release is a reason to get ball rolling but whether enough is another matter.
As the lights go by so too do the shadows move
  • #16,839
  • Oct 1, 2014 9:20am Oct 1, 2014 9:20am
Hello guys, I want some help please. I'm looking for a decent broker to trade CFDs especially Gold and Silver. Any thoughts ?!!
  • #16,840
  • Oct 1, 2014 9:23am Oct 1, 2014 9:23am
Quoting Matts Micro
{quote} Yer I have that too. It looks similar to the weekly. I need a reason for confirmation. Atm UJ break / neg. USD news release is a reason to get ball rolling but whether enough is another matter.
Lol, soz sounded a bit flippant in that response. It deserved a thumbs up at least heh
As the lights go by so too do the shadows move
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