- #18,642
- Nov 4, 2014 11:47pm Nov 4, 2014 11:47pm
{quote} Don't even think about going long, not even for a scalp unless gold retakes 1180.
Long here at 1152.3
SL at BE nowThis is nasty.
Much lower and miners will be seriously shitting themselves.
Corripe Cervisiam!
- #18,645
- Nov 5, 2014 12:11am Nov 5, 2014 12:11am
Hello all For what it's worth, I don't see any signs of this drop reversing just yet, either fundamentally or technically. {image} If it drops through the demand zone on the daily circa 1155 (below) {image} I'm not sure anything will stop it until the demand on the weekly @ 1096 (below) {image} and if that zone clears, it could well drop a lot further. to the demand on the monthly @ 917.5 {image} Of course anything can happen... so trade carefully.
. Fib and EW puts likely turning point at around 1000 (+/- 100 pips!) so will see how price reacts at the 1100 level. TP at 1050 but may close earlier if PA consolidates - or retraces a lot
- #18,647
- Nov 5, 2014 12:23am Nov 5, 2014 12:23am
- Joined Sep 2012 | Status: AlgoTrader | 3,610 Posts
My updated view (Long Term) in light of recent US fundamentals: Monthly Chart: Fibo 62.8 sets at 1156 which was protected for over a year and a half on three failed tries to touch. If 1156 failed to provide support and a large up swing it might drop to Fibo 75 at 990. {image}
No guts, no glory
- #18,648
- Nov 5, 2014 12:30am Nov 5, 2014 12:30am
- | Commercial User | Joined Aug 2007 | 6,072 Posts
Hello World!
- #18,653
- Nov 5, 2014 12:43am Nov 5, 2014 12:43am
- Joined Sep 2012 | Status: AlgoTrader | 3,610 Posts
Quoting griffinssoul
{quote} Analysis looking great abokwaik but how are you holding up mate! Hopefully things will turn around in your favour.
I am still alive. In fact I had an unresolved issue with my broker yesterday which led to stop out on all positions, they've started an investigation and I am on hold now (for this account) until issue is resolved.
I was really surprised of how fast and transparent my broker resolved the issue, they acknowledged the error
and refunded the account with all stopped out positions.
Now my account is back to life, however I have to change the TE start date to accurately evaluate future performance.
{quote} Analysis looking great abokwaik but how are you holding up mate! Hopefully things will turn around in your favour.
I am still alive. In fact I had an unresolved issue with my broker yesterday which led to stop out on all positions, they've started an investigation and I am on hold now (for this account) until issue is resolved.
{quote} Thanks jops. But don't worry its a relatively small account, however it surely affected my view on the broker reliability unless they settled it in a fair manner.
and refunded the account with all stopped out positions.
Now my account is back to life, however I have to change the TE start date to accurately evaluate future performance.
No guts, no glory
{quote} OK.. S1, S2 and S3 all reached 1163,1158 and 1152. Now it should reverse back . And if it further goes down then S4= 1146 is the target.
- #18,655
- Edited 12:59am Nov 5, 2014 12:47am | Edited 12:59am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
Short entry on gold :
Money moves the market, not an indicator.
- #18,656
- Edited 1:12am Nov 5, 2014 12:53am | Edited 1:12am
monthly fib 200 level from entire move down is at 1124.30 - I also have a weekly fib in play with a level at the white line just above my 200.0 fib level at 1145.95,When you are dealing with monthly levels , how anyone uses a 1 hour chart to predict swing lows is beyond me
{quote} If it breaks 1152 strong support.. phewwww all the way 1146 for today, if it doesn't then upward 1168 or may be 1173 or 1179..
OOoopss!! so fast reached 1146 support.. Now we have entered no mans land.. not sure how deep it will dive might very very deeeep..
- #18,659
- Nov 5, 2014 1:12am Nov 5, 2014 1:12am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
Quoting griffinssoul {quote} Analysis looking great abokwaik but how are you holding up mate! Hopefully things will turn around in your favour. I am still alive. In fact I had an unresolved issue with my broker yesterday which led to stop out on all positions, they've started an investigation and I am on hold now (for this account) until issue is resolved. {quote} I was really surprised of how fast and transparent my broker resolved the issue, they acknowledged the error...
Back on track for abokwaik...
- #18,660
- Nov 5, 2014 1:13am Nov 5, 2014 1:13am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
{quote} Don't normally like to leave trades overnight but with price ranging for the last couple of days, figured it might break over Asian session. 1st lot hit TP at 100pips. Second lot at BE. Now for deciding exit ... my charts don't go back beyond 2011 so thank you for your charts Hollowhead
Well done mate!!!