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Only Gold!

  • #16,901
  • Edited 3:57am Oct 2, 2014 3:39am | Edited 3:57am
Quoting Thfc1964
1223-1224 is the line I'm looking at to start building a short position again. Thoughts?
JY is moving north with a vengeance (on H1) and the daily pattern seems to be showing an accumulation bottom followed by a massive reversal bar...
historically it leads GOLD...
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,902
  • Oct 2, 2014 4:07am Oct 2, 2014 4:07am
hi guys!
Which broker do you recommend to trade gold only?
  • #16,903
  • Oct 2, 2014 4:16am Oct 2, 2014 4:16am
Quoting theDHT
{quote} JY is moving north with a vengeance (on H1) and the daily pattern seems to be showing an accumulation bottom followed by a massive reversal bar... historically it leads GOLD...
U mean better option is Long?
  • #16,904
  • Oct 2, 2014 4:26am Oct 2, 2014 4:26am
Quoting Ramii
{quote} U mean better option is Long?

Im suggesting that you wait and see...

right now, theres no good reason to take a long position
at the same time, the short trade seems to be running out of steam...
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,905
  • Oct 2, 2014 4:32am Oct 2, 2014 4:32am
Quoting theDHT
{quote} Im suggesting that you wait and see... right now, theres no good reason to take a long position at the same time, the short trade seems to be running out of steam...
Thanks mate...

Btw OIL is down drastically!!!
  • #16,906
  • Oct 2, 2014 4:38am Oct 2, 2014 4:38am
Quoting Ramii
{quote} Thanks mate... Btw OIL is down drastically!!!

yea I know!

Ive been shorting WTI since ~105
now im out
though it may still drop to the 86 level... I expect a sharp bounce from this range

Im not interested in chasing the last few pennies...
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,907
  • Oct 2, 2014 4:46am Oct 2, 2014 4:46am
Quoting theDHT
{quote} yea I know! Ive been shorting WTI since ~105 now im out though it may still drop to the 86 level... I expect a sharp bounce from this range Im not interested in chasing the last few pennies...
At what point do you think you shall enter a long?
  • #16,908
  • Oct 2, 2014 4:51am Oct 2, 2014 4:51am
Quoting dinhienhy
{quote} Hi all, I'm new here. I'm interesting in trading gold. Are you meaning peakout or breakout? Could you explain more about peakout?
Google "Forex Glossary"
Hello World!
  • #16,909
  • Oct 2, 2014 4:53am Oct 2, 2014 4:53am
My view based on VVSA & Seasons, both falling on same page..

Time to Bingo ahead..
Attached Image (click to enlarge)
Click to Enlarge Name: ss.PNG Size: 29 KB
Hello World!
  • #16,910
  • Oct 2, 2014 4:53am Oct 2, 2014 4:53am
Quoting Thfc1964
{quote} At what point do you think you shall enter a long?
on WTI?
Im not sure, will need to see, I havent really done any forward analysis on this instrument since I exited my position a few days ago
I may not play it to the long side at all, tbh, because theres juice in so many other instruments, and, Im generally not a fan of playing counter trend moves... this is an extremely volatile instrument...
I may look at getting short again in a few weeks after a retracement
if my reading is correct, and ~86 is the floor for the current move, a simple fib based retracement will give you some targets...
but this is a GOLD thread, lets stick to GOLD while we are here... out of respect for CT
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,911
  • Oct 2, 2014 5:11am Oct 2, 2014 5:11am
Quoting ClockTrader
My view based on VVSA & Seasons, both falling on same page.. Time to Bingo ahead.. {image}

how much upside are you looking at?
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,912
  • Oct 2, 2014 6:12am Oct 2, 2014 6:12am
I have a hunch unemployment claims will hammer the dollar, gold will break out.
  • #16,913
  • Oct 2, 2014 6:38am Oct 2, 2014 6:38am
Good Afternoon
Today's S/R Levels on MT4 Templates

EURO
CABLE
AUDUSD
USDJPY
GOLD

http://www.forexfactory.com/showthre...42#post7774942

EURO PINK
CABLE PINK
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #16,914
  • Oct 2, 2014 7:44am Oct 2, 2014 7:44am
Quoting theDHT
{quote} how much upside are you looking at?
IF I am right, a rally of at least 80 $s towards North in the next 8 - 10 weeks.
Hello World!
  • #16,915
  • Oct 2, 2014 7:46am Oct 2, 2014 7:46am
Quoting ClockTrader
{quote} IF I am right, a rally of at least 80 $s towards North in the next 8 - 10 weeks.

I'm looking for something similar. Gold sentiment is extremely negative at the moment, for the past 2 years moments like these trigger relief rallies of $100+

Sellers have run out, buyers will gain confidence as we move higher.
  • #16,916
  • Oct 2, 2014 7:49am Oct 2, 2014 7:49am
This is the strength of my longs. IF this unique strategy wasn't there, I believe psychologically I would feel too tired and exhausted with loads of longs I've been carrying.

After all, its just not about how low I can go with my longs, but, about taking money home every month as well.
Attached Image
Hello World!
  • #16,917
  • Oct 2, 2014 7:58am Oct 2, 2014 7:58am
Quoting ClockTrader
My view based on VVSA & Seasons, both falling on same page.. Time to Bingo ahead.. {image}
I am re-assessing all volatile bars and this looks like getting dirty ahead.

Heard of lull before storm? This time its different, I say this is volatile before the storm on way. Most likely we got a storm coming tomorrow.

Trade Safe.

Hope some light by 12 pm NY ahead.
Hello World!
  • #16,918
  • Oct 2, 2014 8:04am Oct 2, 2014 8:04am
Quoting ClockTrader
{quote} I am re-assessing all volatile bars and this looks like getting dirty ahead. Heard of lull before storm? This time its different, I say this is volatile before the storm on way. Most likely we got a storm coming tomorrow. Trade Safe. Hope some light by 12 pm NY ahead.
Stormy Condition
Which way can it go bro.

I dont want to go short from now. Looking for longs.
  • #16,919
  • Oct 2, 2014 8:07am Oct 2, 2014 8:07am
Quoting AnilLonely
{quote} Stormy Condition Which way can it go bro. I dont want to go short from now. Looking for longs.
When volatile bars have pins on both sides, it can be hard to speculate. That's when balanced hedging works like a charm.

Use support / resistance levels to stop/limit positions.
Hello World!
  • #16,920
  • Oct 2, 2014 8:16am Oct 2, 2014 8:16am
We are seeing Gold has been in a congested state this week.. We'll be seeing clearer direction starting early next week, either up or down.. My conservative bet is it'll go north to up around 1260 area.. If things get more optimistic for Gold, it could go up to 1295 or even 1315 area..

Cheers..
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