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  • #18,421
  • Oct 31, 2014 5:57am Oct 31, 2014 5:57am
Quoting goldstreet
{quote} for me I wouldnt think long till NY midday. Another bad news for eur and good US data will bring us to 1155 level.
ive changed my mind. Am going for long from 1173 as a test. Just have a feeling not relying on any analysis.
  • #18,422
  • Oct 31, 2014 5:57am Oct 31, 2014 5:57am
Quoting Kah
{quote} Agreed! I still remember when the both of us were testing the 1245-50 area to short, some people were coming with 1385 and all those highly lucrative targets but good for them only. Secondly my last short was from 1205 last evening and that too I took out at 1183. Now I am clean. Might place pending buy orders on the way to recovery.
I've seen people making BIG statements here & then disappearing in no time. Thanks for watching..
Hello World!
  • #18,423
  • Oct 31, 2014 5:57am Oct 31, 2014 5:57am
Quoting tk5
{quote} bounce to 1200 is enough to recover..we are talking short-term longs...gold as you know when breaks big, it recovers doesnt really break in a row in short period of time. 20 bucks in 15 minutes. thats not mickey mouse
Quoting kuroro001
{quote} Well said, only a good MM will save you from crying at the end of the day/week
SL @ 1282-84 depending on your MM.

I will definitely try longs from 1250 areas IF price reaches there & IF CCBH1 qualifies..

WHen I was a newbie, I blew a couple of accounts, I didn't cry then, now I'm way mature than 8 yrs back.
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Hello World!
  • #18,424
  • Oct 31, 2014 5:58am Oct 31, 2014 5:58am
Quoting Landline
{quote} Hi CT You were right and I tip my hat to you as promised. I got stopped at 1190, now I am sitting things out. It'll be interesting tto see how the rest of today pans out and where price closes before I decide my next trade action. Any kind of daily pin bar will certainly be getting my attention, but for now I'm on the sidelines as a spectator.
Sitting on sidelines too mate..
Hello World!
  • #18,425
  • Oct 31, 2014 6:12am Oct 31, 2014 6:12am
Quoting ClockTrader
{quote} Sitting on sidelines too mate..
... may I join you guys on the side there, perhaps a nice cup of Tea will do the trick. CT, I'm more than happy to admit my analyses was incorrect - long from a 61.8 retrace. Looks like the EW traders did well as yourself... any biscuits?
  • #18,426
  • Oct 31, 2014 6:28am Oct 31, 2014 6:28am
Quoting ClockTrader
{quote} Sitting on sidelines too mate..
I cant deny that I am tempted to try 1 more long attempt at the moment, the hourly chart is starting to develop for me, but I thought the same thing previously and that got chewed up.

Forcing myself to sit on my hands now.....that powerful drop earlier has checked me from taking a trade, I'll wait some more and see whether more clues reveal themself before jumping in
  • #18,427
  • Oct 31, 2014 6:35am Oct 31, 2014 6:35am
Quoting Landline
{quote} I cant deny that I am tempted to try 1 more long attempt at the moment, the hourly chart is starting to develop for me, but I thought the same thing previously and that got chewed up. Forcing myself to sit on my hands now.....that powerful drop earlier has checked me from taking a trade, I'll wait some more and see whether more clues reveal themself before jumping in
You would have to have nerves of steel... and a big account perhaps?
  • #18,428
  • Oct 31, 2014 6:59am Oct 31, 2014 6:59am
Quoting griffinssoul
{quote} You would have to have nerves of steel... and a big account perhaps?
I trade what I see which includes various factors, and position size according to the t/f I'm studying which controls my risk for that trade of course.

Generally, once sufficiently convinced, I trade it, the s/l deals with my risk, and I position size to ensure that the account is not vulnerable in the event my s/l is hit, which is really just MM all said and done, which I guess most traders practice, or at least ought to.

How do you go about it if different may I ask?
  • #18,429
  • Oct 31, 2014 7:09am Oct 31, 2014 7:09am
Quoting Landline
{quote} I trade what I see which includes various factors, and position size according to the t/f I'm studying which controls my risk for that trade of course. Generally, once sufficiently convinced, I trade it, the s/l deals with my risk, and I position size to ensure that the account is not vulnerable in the event my s/l is hit, which is really just MM all said and done, which I guess most traders practice, or at least ought to. How do you go about it if different may I ask?
Just a tongue-in-cheek comment given the PA before us... You're absolutely correct about MM issues as CT periodically reminds us to trade safe. Someone once told me your trading safe if you can go to sleep with no thought of your trade.
  • #18,430
  • Oct 31, 2014 7:12am Oct 31, 2014 7:12am
Quoting griffinssoul
{quote} Just a tongue-in-cheek comment given the PA before us... You're absolutely correct about MM issues as CT periodically reminds us to trade safe. Someone once told me your trading safe if you can go to sleep with no thought of your trade.
Yeah good point about sleeping well

Often the best trade is no trade!
  • #18,431
  • Oct 31, 2014 7:17am Oct 31, 2014 7:17am
Quoting Karpa
{quote} Hello golden mates Due to not-so-good data set comming out, I'm moving my TP from 1217 to 1218
Hi all!
I'm thinking about closing this trade as I removed TP from previous 1218 level
This is how I am atm, what do you think guys?
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  • #18,432
  • Oct 31, 2014 7:43am Oct 31, 2014 7:43am
Oh man.. New York session is gonna be niaggara falls for gold...
  • #18,433
  • Oct 31, 2014 7:47am Oct 31, 2014 7:47am
Here we go. I went long at 1165. Mostly on bad US data, hope for a little bounce.
  • #18,434
  • Oct 31, 2014 7:50am Oct 31, 2014 7:50am
Hi All!

What is your view what could be the level for the free fall? we started from 1230 and could end at ???

Thank you
  • #18,435
  • Oct 31, 2014 7:50am Oct 31, 2014 7:50am
They are trying to break that trend line before NY, if they manage to do so... this will be......
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  • #18,436
  • Oct 31, 2014 7:59am Oct 31, 2014 7:59am
I think I finally got the reasons behind thhis..
Its all EURUSD!!! damn..look at EU chart...it's USD strengthening going to the recent bottom....and hence gold going down along the way..

i should have not ignored that EU 1.25 bottom!!!

they both being going in sync today...
always draw trendlines
  • #18,437
  • Oct 31, 2014 8:06am Oct 31, 2014 8:06am
Looks like the bottom has fallen out, unless 1180 is reclaimed this will sink faster than a boulder in quick sand.
"Where you want to be is always in control, never wishing, always trading.
  • #18,438
  • Oct 31, 2014 8:07am Oct 31, 2014 8:07am
Quoting tk5
I think I finally got the reasons behind thhis.. Its all EURUSD!!! damn..look at EU chart...it's USD strengthening going to the recent bottom....and hence gold going down along the way.. i should have not ignored that EU 1.25 bottom!!! they both being going in sync today...
Good point! I was waiting for a scalp on EU which triggered and TP'd in a millisecond! It turns out on the 4H TF there was a change of polarity over the 1MN open
  • #18,439
  • Oct 31, 2014 8:08am Oct 31, 2014 8:08am
omg gold........
  • #18,440
  • Oct 31, 2014 8:20am Oct 31, 2014 8:20am
Quoting tk5
I think I finally got the reasons behind thhis.. Its all EURUSD!!! damn..look at EU chart...it's USD strengthening going to the recent bottom....and hence gold going down along the way.. i should have not ignored that EU 1.25 bottom!!! they both being going in sync today...
it is not all Euro/$
it is all BoJ!!! this morning new easing policy changed the game badly
they boost all stock markets and USD, and hit gold euro and..

SO it seems that no save for yellow metal in short term, they are talking about USD/JPY @ 120 and EUR/USD @1.23
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