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  • #18,061
  • Oct 27, 2014 3:21am Oct 27, 2014 3:21am
read this article, guys.
http://www.bloomberg.com/news/2014-0...on-trades.html
"He found success after a friend gave him a piece of advice: Forget the fundamentals."

We ought to buy gold if it is being bought and sell gold if it is being sold.
  • #18,062
  • Oct 27, 2014 3:22am Oct 27, 2014 3:22am
Quoting suthmo
Wouldn't be surprised to see 100 pip gap up

100pip is $1.00, right?
  • #18,063
  • Oct 27, 2014 3:31am Oct 27, 2014 3:31am
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.
Really?
  • #18,064
  • Oct 27, 2014 3:33am Oct 27, 2014 3:33am
Quoting goldhead
{quote} 100pip is $1.00, right?
(You were joking right?)
  • #18,065
  • Oct 27, 2014 4:11am Oct 27, 2014 4:11am
Quoting goldhead
{quote} 100pip is $1.00, right?
no its $10
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #18,066
  • Oct 27, 2014 4:15am Oct 27, 2014 4:15am
Quoting blue_z_zz
{quote} no its $10
Ooppps, I thought that was a joke, my apologies . Yep, pips (5&3 digit, ECN etc), points (stocks & forex) is all very complicated looking...

Have a look at this http://www.investopedia.com/ask/answ...rrencypair.asp
  • #18,067
  • Oct 27, 2014 4:28am Oct 27, 2014 4:28am
Quoting griffinssoul
{quote} Ooppps, I thought that was a joke, my apologies . Yep, pips (5&3 digit, ECN etc), points (stocks & forex) is all very complicated looking...
nice chart griffin that H&S you highlighted the neckline coincides with the short term down trend from 1250
Attached Image (click to enlarge)
Click to Enlarge Name: spt_gldm30.png Size: 56 KB
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #18,068
  • Oct 27, 2014 4:43am Oct 27, 2014 4:43am
Quoting blue_z_zz
{quote} nice chart griffin that H&S you highlighted the neckline coincides with the short term down trend from 1250 {image}
...that is exactly what I was just thinking! We are now near the NL...
  • #18,069
  • Oct 27, 2014 5:57am Oct 27, 2014 5:57am
Quoting griffinssoul
{quote} 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(?)
Adding to the last part.. Everything is fine, stocks rally, something like inflation occurs, gold is the historical hedge against inflation. -- trading it would be a different thing.Inverse h&s happens on a downtrend when it is already there (the downtrend). Here, its only the first swing after a correction.^^i could be wrong.Also, if you want to trade charts, you may read about Intermediate Pivot Lines, given the volatile nature of the market(fx in general).
A trade should be based on an assumption based on facts
  • #18,070
  • Oct 27, 2014 6:07am Oct 27, 2014 6:07am
Quoting blue_z_zz
{quote} no its $10
Quoting griffinssoul
{quote} (You were joking right?)
I did thorough Google once on this & concluded after reading numerous posts that there are 100 pips in $1

1 Pip is the smallest price movement, & hence ....
Hello World!
  • #18,071
  • Oct 27, 2014 6:17am Oct 27, 2014 6:17am
Quoting ClockTrader
{quote} {quote} I did thorough Google once on this & concluded after reading numerous posts that there are 100 pips in $1 1 Pip is the smallest price movement, & hence ....
whats your take CT on gold sideway movement

I waiting for 1232 to add more longs or 1227 to go short
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #18,072
  • Oct 27, 2014 6:18am Oct 27, 2014 6:18am
Quoting ClockTrader
{quote} {quote} I did thorough Google once on this & concluded after reading numerous posts that there are 100 pips in $1 1 Pip is the smallest price movement, & hence ....
If this is the case CT, I stand, embarrassingly , corrected...
  • #18,073
  • Oct 27, 2014 6:20am Oct 27, 2014 6:20am
Quoting Mave
{quote} Adding to the last part.. Everything is fine, stocks rally, something like inflation occurs, gold is the historical hedge against inflation. -- trading it would be a different thing.Inverse h&s happens on a downtrend when it is already there (the downtrend). Here, its only the first swing after a correction.^^i could be wrong.Also, if you want to trade charts, you may read about Intermediate Pivot Lines, given the volatile nature of the market(fx in general).
Thanks Mave. This appears to be a composite pattern consisting of a bear flag, cup&handle followed by a possible inverted head&shoulders. Certainly nothing text-book about it but then again perhaps nothing is?

EDT: actually, I just realized that the former are bearish while the latter bullish... Mmmm
  • #18,074
  • Oct 27, 2014 6:20am Oct 27, 2014 6:20am
Price Action is confusing today.

H4. It found little support on SMA-100 but the up-move is not convincing, I'm afraid that it will go down.

Attached Image (click to enlarge)
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No guts, no glory
  • #18,075
  • Oct 27, 2014 6:27am Oct 27, 2014 6:27am
A clearer snapshot

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDrH4_Oct27_big.png Size: 63 KB
No guts, no glory
  • #18,076
  • Oct 27, 2014 6:27am Oct 27, 2014 6:27am
Quoting blue_z_zz
{quote} whats your take CT on gold sideway movement I waiting for 1232 to add more longs or 1227 to go short
Using DCB:

For longs, SL @ 1222
For shorts, SL @ 1238

TRADE LIGHT @ SAFE, IF THIS is the bottom you can always build up.

PS: Its not going sideways, nice PA occurring within next 24-48 hrs, its been giving signals all day long.
Hello World!
  • #18,077
  • Oct 27, 2014 6:28am Oct 27, 2014 6:28am
Quoting griffinssoul
{quote} Thanks Mave. This appears to be a composite pattern consisting of a bear flag, cup&handle followed by a possible inverted head&shoulders. Certainly nothing text-book about it but then again perhaps nothing is?
Switch to a different TF to find a better and clearer picture, there is always one! Look at those small candles, its where the big money enters.
Also, since there's volume on your chart, you may want to read about 'dark pool liquidity'. May or may not help, i dont know, fascinating nevertheless.
A trade should be based on an assumption based on facts
  • #18,078
  • Oct 27, 2014 6:30am Oct 27, 2014 6:30am
Quoting griffinssoul
{quote} If this is the case CT, I stand, embarrassingly , corrected...
No need to feel embarrassed dude.
Hello World!
  • #18,079
  • Oct 27, 2014 6:34am Oct 27, 2014 6:34am
Elliot wave analysis.......daily tf....5th wave about to start I think.

invalid when price exceeds 1280.
Attached Image (click to enlarge)
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Nothing Is Certain In The Universe
  • #18,080
  • Oct 27, 2014 6:39am Oct 27, 2014 6:39am
Quoting Mave
{quote} Switch to a different TF to find a better and clearer picture, there is always one! Look at those small candles, its where the big money enters.
...I usually look at the 1H TF but, recently, also following CT with the 30M. But as you say its a good idea to compare 1MN, 1D, 4H. I really like the 1H TF because its not too short and not very long...
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