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Only Gold!

  • #18,241
  • Oct 29, 2014 9:44am Oct 29, 2014 9:44am
Quoting diggo
Short-Medium term:

I will continue to ride this last bull wave, feeding off the weak bears. This 1245/50 area is the first major nut we have to crack, may take a couple of weeks. A chance to reload longs ~1220 would be nice. 1264/1271 is where bigger bears will be looking to re-load but I would not count out a higher spike to really clean out the weak bears. At this point I will be looking for a scary ride down to 1000 and beyond..
Started reloading longs at 1223/24 as planned. Unfortunately we have to tread lightly as we await this FOMC lottery. Otherwise I would be loading up a lot more.

In a few hours we might have a short window of opportunity to enter longs at a better price. I'll be looking at entering heavily if we spike down to the 61.8 fib around 1210 (as long as there is no major, unfavorable news). However 1220 may be as good as I'll get.

Minimum bull target still remains 1264.
  • #18,242
  • Oct 29, 2014 9:45am Oct 29, 2014 9:45am
US has gone pretty low now just wait till it below 85 points.

Mean while Euro has gone crazy enough for today, 0.2-0.3% increased..
  • #18,243
  • Oct 29, 2014 9:46am Oct 29, 2014 9:46am
  •  Kah
  • | Joined Jun 2012 | Status: Patience is the Key to Success! | 150 Posts
Guys, just one small advice - keep an eye on the DIX and also see the 30M chart to keep an option open for a temporary peak out in Gold before the FOMC statement.

After the statement it will move in the light of the statement - so nothing we should speculate.

Too risky for me to trade though.

Keep your trades safe like a chicken.

P.s. Don't get overwhelmed while shorting Gold today, if it peaks out - 1236 we will end up seeing the 1252++ levels on the charts.

Cheers,
KAH
  • #18,244
  • Oct 29, 2014 9:50am Oct 29, 2014 9:50am
Quoting diggo
{quote} Started reloading longs at 1223/24 as planned. Unfortunately we have to tread lightly as we await this FOMC lottery. Otherwise I would be loading up a lot more. In a few hours we might have a short window of opportunity to enter longs at a better price. I'll be looking at entering heavily if we spike down to the 61.8 fib around 1210 (as long as there is no major, unfavorable news). However 1220 may be as good as I'll get. Minimum bull target still remains 1264.
My h1 and h4 charts look good to go for long. Daily not so clear to me yet
  • #18,245
  • Oct 29, 2014 9:55am Oct 29, 2014 9:55am
Quoting abokwaik
Again Euro & Pound are Flying ! Whats the matter with Gold.
From what I know the beginning of the week, Euro bank test it volatility and it comes out good or better than expected.

So people are running from US to Euro.

Just what I read from FF and few others info.

Cheers
  • #18,246
  • Oct 29, 2014 10:26am Oct 29, 2014 10:26am
  •  Kah
  • | Joined Jun 2012 | Status: Patience is the Key to Success! | 150 Posts
Silver has peaked out - in fact created a strong buy in the H1 chart.

Anticipating the same in gold as a pre-news move.

KAH
  • #18,247
  • Oct 29, 2014 11:00am Oct 29, 2014 11:00am
Its about time.... 12 pm, time to call it a day.. Wish you all greens.

Trade Safe!
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Hello World!
  • #18,248
  • Oct 29, 2014 1:23pm Oct 29, 2014 1:23pm
Fed ends 'QE' bond-buying economic stimulus program.
  • #18,249
  • Oct 29, 2014 2:10pm Oct 29, 2014 2:10pm
nice crash
  • #18,250
  • Oct 29, 2014 2:13pm Oct 29, 2014 2:13pm
Where is it doing now??
  • #18,251
  • Oct 29, 2014 2:17pm Oct 29, 2014 2:17pm
Honestly, I bought at 1218 but I don't feel ok with it right now
  • #18,252
  • Oct 29, 2014 2:47pm Oct 29, 2014 2:47pm
Quoting ThePolarFox
Honestly, I bought at 1218 but I don't feel ok with it right now
am scared to buy here. Feel theres a big drop before.
  • #18,253
  • Oct 29, 2014 3:14pm Oct 29, 2014 3:14pm
ok advice To set a long? Or will fall even more?
  • #18,254
  • Oct 29, 2014 3:39pm Oct 29, 2014 3:39pm
  •  Kah
  • | Joined Jun 2012 | Status: Patience is the Key to Success! | 150 Posts
After the break of 1215 and trading below that level, I am not ruling out a retest of 1180 or 1160 in the shorter run.

CT, you should stop calling it a day here, else everybody vanishes and no reply after that

Cheers,
KAH
  • #18,255
  • Oct 29, 2014 6:37pm Oct 29, 2014 6:37pm
Quoting Kah
After the break of 1215 and trading below that level, I am not ruling out a retest of 1180 or 1160 in the shorter run. CT, you should stop calling it a day here, else everybody vanishes and no reply after that Cheers, KAH

exactly.. this is the second time in two days market didnt like the way you call it a day CT .. crashed twice.. nd damn.. this was too big to call just a crash

i hedged my longs around 1224 just before FOMC.. i had this weird feeling since it touched 1220.. dollar index has risen to a very high level again.. had GOLD not crossed 1210 i would have presumed this to be a good buying area.. i think i will wait for the closing of this week now before deciding on what to do next..

P.S a close below 1211 fpr the weekly candle will determine a break of a triangle.. and i will not rule out a drop below 1180 this time.. hot data's tomorrow.. hopefully we will be pushed above 1222 again..

Happy greens everyone
  • #18,256
  • Oct 29, 2014 7:06pm Oct 29, 2014 7:06pm
Quoting Kah
After the break of 1215 and trading below that level, I am not ruling out a retest of 1180 or 1160 in the shorter run. CT, you should stop calling it a day here, else everybody vanishes and no reply after that Cheers, KAH
I think I got what I wanted.. it doesn't look pixel perfect but, its good & worth trying..

This is clean & clear Bingo bottom-out on VVSA-H1 aka CCBH1 on VVSA

I would like to try longs from here with SL @ 1190

In other words the area between 1192 & current price is buy range IMHO

An opinion on this from any VSA trader would be appreciated.
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  • #18,257
  • Oct 29, 2014 7:19pm Oct 29, 2014 7:19pm
just entered some light long orders around 1212.

before FED lift up rate, 118X should be a strong bottom especially S&P 500 is entering risking off mode.
  • #18,258
  • Oct 29, 2014 7:35pm Oct 29, 2014 7:35pm
Price closure was above 1212.. It can be a bit bearish tomorrow on London session but honestly I see it bullish starting from NY session, stocks drop, don't neglecte it, it shows where money goes:
Stocks drop - > Gold ups
That's my opinion, I was afraid it would close at 1208 which would clearly show a wild drop to 1190 in near term but now..
  • #18,259
  • Oct 29, 2014 8:17pm Oct 29, 2014 8:17pm
Dear CT, how did vsa guide you to close your position?
  • #18,260
  • Oct 29, 2014 8:18pm Oct 29, 2014 8:18pm
Quoting diggo
{quote} Started reloading longs at 1223/24 as planned. Unfortunately we have to tread lightly as we await this FOMC lottery. Otherwise I would be loading up a lot more. In a few hours we might have a short window of opportunity to enter longs at a better price. I'll be looking at entering heavily if we spike down to the 61.8 fib around 1210 (as long as there is no major, unfavorable news). However 1220 may be as good as I'll get. Minimum bull target still remains 1264.
Got the 1210 I was looking for. No surprises in the FOMC statement. Loaded up on longs. Let's continue to 1264+ Now.
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