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Only Gold!

  • #17,461
  • Oct 13, 2014 7:12am Oct 13, 2014 7:12am
My view is a retrace of the high of today and the recent low at 1225 .xx then it will work it was down on a retrace of 1182 ..1238 to test 1200
  • #17,462
  • Oct 13, 2014 7:32am Oct 13, 2014 7:32am
Quoting EatPIPs
Personally I have added shorts in the $123x regions with SL above $1245. I see PA either heading back south eventually to break through current low or if $1240 gets taken then a retest of $1229-1230 and then shooting back up. My view on PA is south. {image}
IF Bulls continue to appear submissive tomorrow by London session, that could potentially mean you are in the right lane.

On the contrary, IF price shoots to 1240 levels by this weekend, which most likely won't, I would like to sell from there.
Hello World!
  • #17,463
  • Oct 13, 2014 8:18am Oct 13, 2014 8:18am
Gold prices trading at intraday support level near $1225, breaking which $1217 and $1205 can't be denied. On the upside, $1250 is a crucial level to trigger near-term strength of the yellow metal.
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  • #17,464
  • Oct 13, 2014 9:07am Oct 13, 2014 9:07am
No major volatility on H1, only minor on M15.
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Hello World!
  • #17,465
  • Oct 13, 2014 9:32am Oct 13, 2014 9:32am
Boring afternoon on gold. three scalps for 150 pips each. Think I'll retire for the day. Falling asleep here
  • #17,466
  • Oct 13, 2014 10:30am Oct 13, 2014 10:30am
Quoting Mr.C
Good late evening traders. Just a quick Gold note: expecting a move south this week. Will update. Wish everyone a successful upcoming week!
Entered gold with a sell @ 1230,30. SL @ 1233,30.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #17,467
  • Oct 13, 2014 10:50am Oct 13, 2014 10:50am
Quoting Mr.C
{quote} Entered gold with a sell @ 1230,30. SL @ 1233,30.
Glad to have you here mate. Its advisable to post analysis or a chart or the logic behind a call / view.

I don't mean to sound rude, but, merely posting a call without any logic does not look good on this thread.
Hello World!
  • #17,468
  • Oct 13, 2014 11:19am Oct 13, 2014 11:19am
Quoting ClockTrader
{quote} Glad to have you here mate. Its advisable to post analysis or a chart or the logic behind a call / view. I don't mean to sound rude, but, merely posting a call without any logic does not look good on this thread.
Hey ClockTrader. Was about to give you an answer as I saw the same question yesterday. But I usually wait till my order is ON as situation might change and I sometimes stay aside.

To me Gold's bigger picture is a clear downside move that has started in mid of March, 2014. I also think that the recent, last week's move up could be nothing more but a correction. When posted my opinion yesterday, I had couple zones marked and one of them was ~1237 area where today the price reacted nicely. Resistance there confirmed. No pending calls were made and plan B is in action at the moment. My today's entry - a simple PIN bar on M30, that I saw when entering. Some broken TLs with a significant number of touches are also on my side. Maybe it is time to gather those stops hidden there. I also think that down bellow, the area of ~1180 is acting like a price magnet at the moment.

Now the situation isn't clear and confirmed yet. 1224 is my first area of interest. New daily low would really make me a happier person. Next stop and possible TP is for this position is @ 1205.

In case we would go up, I would monitor the area of 1237 - 1240. In case of price jumping outside the 1240, I would rethink my sells and consider joining bulls.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #17,469
  • Oct 13, 2014 11:29am Oct 13, 2014 11:29am
just want to add my view here I look more in longer-term trends and trend change gold started correcting 3 years now and there is a big possibility gold have formed a triple-bottom and if that is valid then we are going to see a new multi year up trend

numbers to watch for is 1180 to the downside and 1275-1395

and given the current geopolitics plus the macro economics situation my bias is to the upside
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Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #17,470
  • Oct 13, 2014 11:31am Oct 13, 2014 11:31am
Quoting Mr.C
{quote} Hey ClockTrader. Was about to give you an answer as I saw the same question yesterday. But I usually wait till my order is ON as situation might change and I sometimes stay aside. To me Gold's bigger picture is a clear downside move that has started in mid of March, 2014. I also think that the recent, last week's move up could be nothing more but a correction. When posted my opinion yesterday, I had couple zones marked and one of them was ~1237 area where today the price reacted nicely. Resistance there confirmed. No pending calls were made...
Good point. I believe if us market keep improving we will see 1180 again.
  • #17,471
  • Oct 13, 2014 11:57am Oct 13, 2014 11:57am
Quoting Mr.C
{quote} Hey ClockTrader. Was about to give you an answer as I saw the same question yesterday. But I usually wait till my order is ON as situation might change and I sometimes stay aside. To me Gold's bigger picture is a clear downside move that has started in mid of March, 2014. I also think that the recent, last week's move up could be nothing more but a correction. When posted my opinion yesterday, I had couple zones marked and one of them was ~1237 area where today the price reacted nicely. Resistance there confirmed. No pending calls were made...
Gold Annihilation System
  • #17,472
  • Oct 13, 2014 6:10pm Oct 13, 2014 6:10pm
just made my short @ 1236.6 heavy trade
Senior Trader Multi-Account Manager
  • #17,473
  • Oct 13, 2014 6:21pm Oct 13, 2014 6:21pm
Quoting lorix
just made my short @ 1236.6 heavy trade
I will wait for my rules to be executed! market can need new supply soon. Also my 1224.32 buy limit wasn't executed today - though the prediction was 100%
Gold Annihilation System
  • #17,474
  • Oct 13, 2014 6:25pm Oct 13, 2014 6:25pm
Quoting Hunterrus
{quote} I will wait for my rules to be executed! market can need new supply soon. Also my 1224.32 buy limit wasn't executed today - though the prediction was 100%
If it didnt start the down move from here the next target is 1275 zone to sell off
Senior Trader Multi-Account Manager
  • #17,475
  • Oct 13, 2014 6:28pm Oct 13, 2014 6:28pm
Who Knows Mr
Belive & Achieve
  • #17,476
  • Oct 13, 2014 6:29pm Oct 13, 2014 6:29pm
Quoting lorix
{quote} If it didnt start the down move from here the next target is 1275 zone to sell off
1235-37 was touched several times - it can easily be broken be carfull with shorts - I am still waiting for my new demand or new supply =) missed a trade at 1224.32
Gold Annihilation System
  • #17,477
  • Oct 13, 2014 6:50pm Oct 13, 2014 6:50pm
Quoting lorix
just made my short @ 1236.6 heavy trade
Hi lorix, what is your reasoning here? What is your (first?) TP target?
  • #17,478
  • Oct 13, 2014 7:02pm Oct 13, 2014 7:02pm
in my opinion there are two levels to watch out for today.. we have seen a pretty strong resistance as well as support around 1240 in the past..it is fitting enough that 1240 is the first resistance point (R1) in daily pivot.. so considering that 1240 might still have a role to play as iv been saying for well over a week now..i closed the long i mentioned about @1215 yesterday @1237 because it was a day of uncertainty..i will wait and see the PA around 1240 area to determine my next position...

a possible TP for shorts or SL for longs can be around 1231 today.. ironically that is also a daily pivot level today.. and as the trend line shows..

happy greens everyone..
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  • #17,479
  • Edited 7:31pm Oct 13, 2014 7:09pm | Edited 7:31pm
Quoting haider13
in my opinion there are two levels to watch out for today.. we have seen a pretty strong resistance as well as support around 1240 in the past..it is fitting enough that 1240 is the first resistance point (R1) in daily pivot.. so considering that 1240 might still have a role to play as iv been saying for well over a week now..i closed the long i mentioned about @1215 yesterday @1237 because it was a day of uncertainty..i will wait and see the PA around 1240 area to determine my next position... a possible TP for shorts or SL for longs can be around...
1231 is also the 61.8 fib retrace level (1H TF). The previous wave (from fractal low to fractal high) re-traced to around the 61.8 level. So, by EWT, it is more probable to expect a shallower re-trace?
  • #17,480
  • Oct 13, 2014 7:40pm Oct 13, 2014 7:40pm
Thank you very much for your view.

Quoting Mr.C
{quote} Hey ClockTrader. Was about to give you an answer as I saw the same question yesterday. But I usually wait till my order is ON as situation might change and I sometimes stay aside. To me Gold's bigger picture is a clear downside move that has started in mid of March, 2014. I also think that the recent, last week's move up could be nothing more but a correction. When posted my opinion yesterday, I had couple zones marked and one of them was ~1237 area where today the price reacted nicely. Resistance there confirmed. No pending calls were made...
Hello World!
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