Only Gold! | Page 903 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Journal (only my take) 433 replies

Trading gold and silver only 59 replies

An idea for building wealth...using only gold 9 replies

GOLD traders only 90 replies

Attachments: Only Gold!
Exit Attachments

Only Gold!

  • #18,041
  • Oct 25, 2014 1:02am Oct 25, 2014 1:02am
Quoting New-Pragati
Hi ClockTrader , I wanted to make a small suggestion; As this thread is related to only gold trading, it would be very helpful if certain stats of gold are there in the First post. Historical high , Historical low , Average Daily Range , Highest Daily Range , Lowest Daily Range .
Give me the numbers, I'll add them there.
Hello World!
  • #18,042
  • Oct 25, 2014 1:03am Oct 25, 2014 1:03am
Quoting Kah
{quote} Have a blessed weekend guys - watch movies, spend time with family and don't think of Monday, let it be a new day a new start. Rock the world - else, come to my small island, a paradise on heaven and party hard. Cheers, KAH
Catcha there some day, is that your personal island?
Hello World!
  • #18,043
  • Oct 25, 2014 1:19am Oct 25, 2014 1:19am
Quoting ClockTrader
{quote} Give me the numbers, I'll add them there.
I do not have such data but was on the look out for it. (thought you could provide it.)
I assumed that as , this is a dedicated gold trading thread people out here would have these details.
If any viewer/poster has knowledge of this from a reliable source, would appreciate anyone sharing the information.
Striving to Develop & Implement Innovative Ideas
  • #18,044
  • Oct 25, 2014 4:55am Oct 25, 2014 4:55am
My third week went so bad. After reaching 23% ROI it went down to -7% although still floating.
Based on my weekly bullish view on GOLD I bought pullbacks Until Tuesday and I made positive returns, the Wednesday to Friday it went down.

I repeated the old mistake of Over-Leveraging.

So its time now to re-asses and find a way out.

My average buying price is 1242 (closing all deals at this price will put me at around 30% ROI).

So were GOLD is going next week (October Month End)?

Monthly Chart :

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDrMonthly_Oct_24.png Size: 57 KB

 

  1. October is still Bullish.
  2. RSI(10) broke down the rising trend line and now curving up.
  3. October volume is likely to be larger thatn September Volume (currently its almost the same, and we still have one week to go).
  4. Triple bottom still holds.

Gold Weekly Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDrWeekly_Oct24.png Size: 66 KB

 

  1. Last week candle:

     

    1. Looks like a Dark Cloud Cover (not so Dark any way)
    2. Clearly Broke the resistance at 1240 (up to 1255) before reversing.
    3. Broke the 38% Fibo of the last swing although couldn't close above or broke the 23% down.
    4. VOLUME was small compared to the previous Bullish Week (68% )
    5. Didn't break previous week Open/Low.
    6. Broke the middle regression channel but didn't close above it.

  2. RSI still above the broken down trend line. but found resistance when touched the rising trend line.
  3. VOLUME of previous weekly reversals labeled (1) and (2) was larger than previous weeks compared to last week (3)

Gold Daily Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDrDaily_Oct24.png Size: 58 KB

 

  1. Friday was an Inside Day
  2. Lower Volume
  3. Made a daily change of around -$1 only.
  4. RSI Divergence : Price is making Higher Lows while RSI(10) is making Lower Lows (Bullish Sign). Divergence is more clear on H4 though.

GOLD: Conclusion

to me Bullish Signs still more than Bearish signs. So I will hold my longs and watch the market closely this week.

No guts, no glory
  • #18,045
  • Oct 25, 2014 8:19am Oct 25, 2014 8:19am
Kah, have u close your longs? Or still holding
  • #18,046
  • Oct 25, 2014 8:58am Oct 25, 2014 8:58am
[quote=abokwaik;7823807]My third week went so bad. After reaching 23% ROI it went down to -7% although still floating. Based on my weekly bullish view on GOLD I bought pullbacks Until Tuesday and I made positive returns, the Wednesday to Friday it went down. I repeated the old mistake of Over-Leveraging. So its time now to re-asses and find a way out. My average buying price is 1242 (closing all deals at this price will put me at around 30% ROI). So were GOLD is going next week (October Month End)? Monthly Chart : {image} October is still Bullish. RSI(10) broke down the rising trend line and now curving up. October volume is likely to be larger thatn September Volume (currently its almost the same, and we still have one week to go). Triple bottom still holds. Gold Weekly Chart: {image} Last week candle: Looks like a Dark Cloud Cover (not so Dark any way) Clearly Broke the resistance at 1240 (up to 1255) before reversing. Broke the 38% Fibo of the last swing although couldn't close above or broke the 23% down. VOLUME was small compared to the previous Bullish Week (68% ) Didn't break previous week Open/Low. Broke the middle regression channel but didn't close above it. RSI still above the broken down trend line. but found resistance when touched the rising trend line. VOLUME of previous weekly reversals labeled (1) and (2) was larger than previous weeks compared to last week (3) Gold Daily Chart: {image} Friday was an Inside Day Lower Volume Made a daily change of around -$1 only. RSI Divergence : Price is making Higher Lows while RSI(10) is making Lower Lows (Bullish Sign). Divergence is more clear on H4 though. GOLD: Conclusion to me Bullish Signs still more than Bearish signs. So I will hold my longs and watch the market closely this week.

Hi Ab,

An interesting assessment. My view is not that disimilar to yours when I look at the longer T/Fs.

I closed yesterdays position at b/e and have kept my powder dry until a better buying opportunity arrives.... tbh yesterday did not go as I'd anticipated.

I'm expecting some retracement now, but see no reason why price shouldn't resume it's recent daily trend north soon enough.....I've attached a 4hr chart of my latest view based upon my straightforward method, which basically disregards news and simply relies upon what my indicatotrs are telling me.

I too will be monitoring closely, but thats my basic plan outlined at present.....which may change as we all know.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH4.png Size: 16 KB
  • #18,047
  • Oct 25, 2014 9:40am Oct 25, 2014 9:40am
Quoting abokwaik
My third week went so bad. After reaching 23% ROI it went ... So I will hold my longs and watch the market closely this week.
abokwaik and landline - some of the best analysis reporting I've read, much appreciated! Hope all goes well next week
  • #18,048
  • Oct 25, 2014 9:51am Oct 25, 2014 9:51am
Quoting Landline
Hi Ab, An interesting assessment. My view is not that disimilar to yours when I look at the longer T/Fs. I closed yesterdays position at b/e and have kept my powder dry until a better buying opportunity arrives.... tbh yesterday did not go as I'd anticipated. I'm expecting some retracement now, but see no reason why price shouldn't resume it's recent daily trend north soon enough.....I've attached a 4hr chart of my latest view based upon my straightforward method, which basically disregards news and simply relies upon what my indicatotrs are telling...
Thanks for your feedback , and I respect your view, and it does have logic looking the prevailing down trend (that seems never ending).

We are sharing opinions. So this is how I look the the H4 TF:

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDrH4_oct24.png Size: 70 KB

 

  1. Test of 38% Fibo.
  2. First test of SMA 100 after break.
  3. Could be also Bullish RSI Divergence
  4. Down Trend Line (on highs) which acted as resistance could turn into support.
  5. Buy Volume is larger than Sell Volume

I agree that there are also bearish characteristics, but I am still convinced of my bullish view (short term of course). However I'll be cautious.

PS: @Landline : I miss-understood this statement "...it's recent daily trend north soon enough". Sorry.

No guts, no glory
  • #18,049
  • Oct 25, 2014 10:07am Oct 25, 2014 10:07am
Quoting abokwaik
{quote} Thanks for your feedback , and I respect your view, and it does have logic looking the prevailing down trend (that seems never ending). We are sharing opinions. So this is how I look the the H4 TF: {image} Test of 38% Fibo. First test of SMA 100 after break. Could be also Bullish RSI Divergence Down Trend Line (on highs) which acted as resistance could turn into support. Buy Volume is larger than Sell Volume I agree that there are also bearish characteristics, but I am still convinced of my bullish view (short term of course). However I'll...
No prob Ab, we are pretty much on the same page in all t/fs so far as I can see.... we just took different routes thats all.

I guess we'll know our fate one way or the other during the coming days.

Good luck to us both
  • #18,050
  • Oct 25, 2014 11:52am Oct 25, 2014 11:52am
Quoting grandia
The week failed to close above 1240. I'm still bearish
My short term bearish sentiment is over. Was expecting bigger down movelast week
Usd is fundamentally weak which should help gold price a bit
Im expecting next week to be a ranging period
  • #18,051
  • Oct 26, 2014 12:45am Oct 26, 2014 12:45am
IMHO, the downside is not over yet, not from a trader's point of view. Certainly not.

However, from an investor's point of view, it would be safe to buy 10 - 20% at current levels.

PS: I would wait until contract expiry. Does anyone has stats on this? There was a fella here who said like 9 out of 10 times price falls around expiry.

PPS: I may miss the train to North, but, I would like to wait for clean & clear bottom out on VVSA-H1
Hello World!
  • #18,052
  • Oct 26, 2014 4:55pm Oct 26, 2014 4:55pm
Wouldn't be surprised to see 100 pip gap up
Founder of Sutherland Wave Principle
  • #18,053
  • Oct 26, 2014 6:21pm Oct 26, 2014 6:21pm
one question for all in this thread ...................................


Will the FED end the QE in this meeting or not??????????????????
Attached Image
Nothing Is Certain In The Universe
  • #18,054
  • Edited 8:28pm Oct 26, 2014 7:59pm | Edited 8:28pm
Quoting XediAnakin
one question for all in this thread ................................... Will the FED end the QE in this meeting or not?????????????????? {image}
Huge question! Thanks XediAnakin.

Ok, I'm again looking at the same formation as previous to the breakdown towards 1237 (that was on the M30 TF and this is H1 TF) - this is like a fractal (in the sense of repeating patterns on different TF's) property at play. A powerful cup&handle, before a break of the (local) low...
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 58 KB
  • #18,055
  • Oct 26, 2014 9:55pm Oct 26, 2014 9:55pm
I'll stay out, except very small session / day trades.

I'll stay out until I get what I want i.e. a clean & clear bottom out on VVSA-H1, this could possibly occur in the 1195-1205 range
Hello World!
  • #18,056
  • Oct 26, 2014 10:20pm Oct 26, 2014 10:20pm
Quoting ClockTrader
I'll stay out, except very small session / day trades. I'll stay out until I get what I want i.e. a clean & clear bottom out on VVSA-H1, this could possibly occur in the 1195-1205 range
Hi CT, those targets sound good for a 61.8 retrace on the D TF - as was the case for the last 2 bounces (triple bottom).
  • #18,057
  • Oct 26, 2014 10:36pm Oct 26, 2014 10:36pm
Quoting griffinssoul
{quote} Hi CT, those targets sound good for a 61.8 retrace on the D TF - as was the case for the last 2 bounces (triple bottom).
I was using psychological maths, this is where loads of SLs of longs should be. IF bearish continues, this would coincide with expiry as well. I have not checked FF calendar, maybe hot data coming in the next few days too.
Hello World!
  • #18,058
  • Oct 26, 2014 10:56pm Oct 26, 2014 10:56pm
Quoting XediAnakin
one question for all in this thread ................................... Will the FED end the QE in this meeting or not?????????????????? {image}
I think now market is concerned abt Interest rate outlook rather than QE
  • #18,059
  • Edited 11:18pm Oct 26, 2014 10:58pm | Edited 11:18pm
Quoting ClockTrader
{quote} I was using psychological maths, this is where loads of SLs of longs should be. IF bearish continues, this would coincide with expiry as well. I have not checked FF calendar, maybe hot data coming in the next few days too.
Well, you would image that if QE was lifted everyone and their chickens (I'm making some assumptions here) would run for AU... traders are suggesting this will impact stocks more so over Forex. However, gold may be another matter entirely. Theoretically, the lifting of QE should imply that it has worked and everything is just fine... and the truth(?)
  • #18,060
  • Oct 27, 2014 3:20am Oct 27, 2014 3:20am
Heads up () ... (possible) inverted Head&Shoulders on the 1H TF...
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 60 KB
7 traders viewing now