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Only Gold!

  • #18,221
  • Oct 29, 2014 7:42am Oct 29, 2014 7:42am
Quoting abokwaik
{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.
Let me share a little how I do it.

Trading stuff like Gold is kinda complicated in INdia as compared to Forex markets, its actually very very complicated. So, I keep my long term longs there (in IN). I am too lethargy to trade in my Indian accounts. The best I can do is take a long call & forget whats in there, of course its not that easy as it sounds like, there is lots of stress.

Here in Forex when I foresee price falling (speculation), its kinda alright to go short. I always keep shorts relatively small size. I have never made very good money from shorts as the longs are always relatively quite big.

With Golden seasons not in place, I shall never make a good killing, but, I can survive, learn and make living.

PS: Hope I get what I want by this weekend. A clean & clear bingo bottom-out on VVSA-H1 to go long.
Hello World!
  • #18,222
  • Oct 29, 2014 7:46am Oct 29, 2014 7:46am
gold and silver is strongly correlated,silver has a new low so gold will make a new low for sure in coming days,fed will raise the rates so market will be priced on that before that happen,another thing is that UJ has a new high,gold didnt follow that also..........something is wrong........besides S&P is aiming to 2000 + again...why gold is not going down yet....

for now the only question is when?......after a bull run to 1283-95 or 1340..............or now from 1255-1262.....

I am actually waiting......my short is running.....searching for confirmation.........
Nothing Is Certain In The Universe
  • #18,223
  • Oct 29, 2014 7:49am Oct 29, 2014 7:49am
i think the price now break sma 555 on H1
  • #18,224
  • Oct 29, 2014 7:52am Oct 29, 2014 7:52am
Quoting mcgross
i think the price now break sma 555 on H1
Yea, it has broken that in what looks like a bad manner to me.
Hello World!
  • #18,225
  • Oct 29, 2014 7:53am Oct 29, 2014 7:53am
Done with these, closing now..
Attached Image
Hello World!
  • #18,226
  • Oct 29, 2014 7:58am Oct 29, 2014 7:58am
Time to test longs..

Going light longs now..
Attached Image (click to enlarge)
Click to Enlarge Name: ss1.PNG Size: 15 KB
Hello World!
  • #18,227
  • Oct 29, 2014 8:13am Oct 29, 2014 8:13am
got my long from 1222, did you put SL CT?
  • #18,228
  • Oct 29, 2014 8:20am Oct 29, 2014 8:20am
Quoting mcgross
got my long from 1222, did you put SL CT?
The support is very little, not what I want. Most likely this gonna fall further, therefore weight is light & didn't apply SL, might close these manually when in red, I might be sleeping then though.

When previous low is broken, 1222 in this case, its gonna show some support there which we are seeing on VVSA-M15

Today is monthly settlement of contracts at Comex, they gonna pull the price down for technical reasons ;-)

IF the support was on VVSA-H1, I would have loaded good weight of longs. I think I shall get that chance tomorrow or latest by early next week.

btw, why did you go long from here?

PS: After the news, this could fall further, after 5 pm NY i.e. after the settlement of contracts, this could easily bounce nicely :-)
Hello World!
  • #18,229
  • Oct 29, 2014 8:26am Oct 29, 2014 8:26am
Quoting ClockTrader
{quote} The support is very little, not what I want. Most likely this gonna fall further, therefore weight is light & didn't apply SL, might close these manually when in red, I might be sleeping then though. When previous low is broken, 1222 in this case, its gonna show some support there which we are seeing on VVSA-M15 Today is monthly settlement of contracts at Comex, they gonna pull the price down for technical reasons ;-) IF the support was on VVSA-H1, I would have loaded good weight of longs. I think I shall get that chance tomorrow or latest...
My rsi gives me signal to go long, but my target only around 1224 and my SL 1220. i'm not familiar with volumes, still trying to learn it more.

ps:sorry for my bad english..LOL
  • #18,230
  • Oct 29, 2014 8:30am Oct 29, 2014 8:30am
Quoting mcgross
{quote} My rsi gives me signal to go long, but my target only around 1224 and my SL 1220. i'm not familiar with volumes, still trying to learn it more. ps:sorry for my bad english..LOL
Your English good mate, kooool :-)
Hello World!
  • #18,231
  • Oct 29, 2014 8:36am Oct 29, 2014 8:36am
Quoting Landline
{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...
Hi LL & everyone, the problem with EW's is you can always find a fit post PA! This makes it kind of frustrating at times as it appears deterministic in nature - which it of course is not. The entry and exit signals can be totally wrong if you make an 'error' on the wave count. On the other hand for [very] long TF EW traders do very well - it can be a powerful tool. The way I use it is to try and spot impulse waves from corrections and then trade over the waves cycles accordingly [multiple strategies]. Trading is an art form - its not about intellect nor computation - and theres alot of artists in this thread
  • #18,232
  • Oct 29, 2014 8:45am Oct 29, 2014 8:45am
Quoting griffinssoul
{quote} Hi LL & everyone, the problem with EW's is you can always find a fit post PA! This makes it kind of frustrating at times as it appears deterministic in nature - which it of course is not. The entry and exit signals can be totally wrong if you make an 'error' on the wave count. On the other hand for [very] long TF EW traders do very well - it can be a powerful tool. The way I use it is to try and spot impulse waves from corrections and then trade over the waves cycles accordingly [multiple strategies]. Trading is an art form - its not about...
Yep...fair comment, thanks for your view.

Speaking of art and from an educational point of view, do you have a chart that represents graphically your perspective on gold at present, which CT encourages?
  • #18,233
  • Oct 29, 2014 8:51am Oct 29, 2014 8:51am
Quoting Landline
{quote} Yep...fair comment, thanks for your view. Speaking of art and from an educational point of view, do you have a chart that represents graphically your perspective on gold at present, which CT encourages?
Funny you should say that as I was just looking at my 1H TF chart and thinking of the King [oh, baby!]... LOL

See http://www.forexfactory.com/showthre...15#post7830415

We just got a bounce [got filled on a limit, a bit risky]... longer term I had some updates posted some days back... but I'll look into the EW stuff a bit closer as now I'm a bit worried longer term...
  • #18,234
  • Oct 29, 2014 9:08am Oct 29, 2014 9:08am
Quoting griffinssoul
{quote} Funny you should say that as I was just looking at my 1H TF chart and thinking of the King [oh, baby!]... LOL See http://www.forexfactory.com/showthre...15#post7830415 We just got a bounce [got filled on a limit, a bit risky]... longer term I had some updates posted some days back... but I'll look into the EW stuff a bit closer as now I'm a bit worried longer term...
Thanks for that....It lookes pretty much like a channel breakout using volumn confirmation to my simple mind I must confess. If that is the essence of it and it works for you though then that is all that matters...good stuff
  • #18,235
  • Oct 29, 2014 9:12am Oct 29, 2014 9:12am
fed may make gold go punnay shape
  • #18,236
  • Oct 29, 2014 9:24am Oct 29, 2014 9:24am
EW..............I am looking for...........after breaking 1220
Attached Image (click to enlarge)
Click to Enlarge Name: d5e.png Size: 42 KB
Nothing Is Certain In The Universe
  • #18,237
  • Oct 29, 2014 9:35am Oct 29, 2014 9:35am
took long at 1222.

nice bull chart at H1 .

Time to load some longs.. Hopefully it will go really long..
  • #18,238
  • Oct 29, 2014 9:42am Oct 29, 2014 9:42am
Quoting vp920b
took long at 1222. nice bull chart at H1 . Time to load some longs.. Hopefully it will go really long..
Good timing
  • #18,239
  • Oct 29, 2014 9:44am Oct 29, 2014 9:44am
If usd starts to fly high gold will hit 1200 easy after fed, if usd tanks then gold will go up to 1240 easy
  • #18,240
  • Oct 29, 2014 9:44am Oct 29, 2014 9:44am
Again Euro & Pound are Flying ! Whats the matter with Gold.
No guts, no glory
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