Only Gold!

Quoting grandia

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Th gold market is too cloudy atm I'm long. Why? The market expects dovish fed. Gotta buy the rumor and sell the fact

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Quoting vie

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May be gold up now. Good entry.

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Quoting wibie g

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What to expect for next month: Will Typical Price Action around SMA-50 days rhyme again for GOLD next November'14? {image}

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Quoting griffinssoul

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{quote} Hi wibie g, just beautiful analysis too see... wonderful! Many Thanks! You may be interested to know that abokwaik(AB) made some observations off the SMA100, I believe, see post http://www.forexfactory.com/showthre...59#post7827859 EDT: there's some follow up observations from AB aswell Oh, I think the answer to your question is, Yes! I base this off the 1MN / 1D [previous posts] and the fact that 61,8 retrace is repeated historically [3 touches of the bottom].

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Quoting skyhok

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Gold is still in a declining wave (b), in the middle of corrective move? {image}

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Quoting griffinssoul

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{quote} Hi skyhok, thank you that's very interesting. My only concern is that we have a triple bottom? So, this would invalidate an impulse wave on the larger TF? That is, on a much larger TF the triple would be say a corrective 2 or 4-wave (depending on what each were, e.g. if wave 2 was a zigzag then this dictates the probability for the form of wave 4 etc). Perhaps you have investigated this? I would be very interested... many thanks. EDT: I'm guessing its a 2-wave as a 4-wave can get very complicated (unless you are consulting a textbook) -...

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Quoting skyhok

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{quote} Thank you for your interest. Following chart on a longer TF showing an extended wave (3) down may explain your query on the triple bottoms. But of course this is only a probable view or alternate wave count. Do welcome your suggestion and/or alternate count. {image}

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Quoting ClockTrader

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Heck.. it appears like I'm the only one posting here.. Anything wrong here?

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Quoting Goldenshot

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{quote} nothings wrong sir, i think just because some people seems dont open any position waiting for The FED's QE result. haha very flat market just like my flat bread.. haha yummm

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Quoting ClockTrader

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@ 1227 Initiated a longs, plan to add more going forward.. SL would be close to 1240

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Quoting griffinssoul

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{quote} Oh, that's a better chart... Ah, you see wave 3 doesn't look like it should be terminated at the second of the triple bottom touches - it should be terminated at the first of the triple [where you label 'b'] - it must be an impulse wave and you expect a shallow correction relative to the wave-2 correction. This would imply we are in wave-4 and it (of course looks) complicated. What do you think? And thank you so much! EDT: The angle of decent! Look at the angle of the impulse wave-3!!! That's it, an impulse wave is not expected to correct...

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Quoting Landline

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{quote} Hi Gs, Its a quiet day on the trading front so thought I'd throw in my general view and outlook. The wave theories etc whilst clearly well thought out, are as you've said complicated, and very much open to interpretation it seems to me, although I'm sure many swear by them. As a simpleton, I obviously prefer simple, and my weekly chart attached demonstrates that simplicity, applying my usual straightforward, unambiguous signals. I've added stochastic for this weekly view as you can see which reinforces the high likelihood of investable zones...

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Quoting abokwaik

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{quote} Same view since 2 weeks. However I have big floating loss on my longs, as I preferred Long scalps hoping that some of them will materialize on the long term. Those longs are endangered now because FOMC meeting tonight. So from now until then I will either exit some of them at minimum possible loss, or hedge them waiting for FOMC outcome.

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