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  • #18,861
  • Nov 7, 2014 10:12am Nov 7, 2014 10:12am
This is just a technical retracement!
Target is 1100, kindly take a look at weekly chart.

Cheers
  • #18,862
  • Nov 7, 2014 10:34am Nov 7, 2014 10:34am
Quoting hollowhead
Ahh!! Got stuck in a meeting and got caught out badly. Had to take drastic action, which led to closing out all my trades. I know I'm going to regret it, but I'd built so heavily, I had to ensure I bagged some of it. Trades until worth anything until they're closed. Will start building again next week. Have a good weekend all.
I tried a short & got hit today. Its been rough for me lately.

On other note, you had built a great setup of shorts. Wish you good luck in all your endeavors.
Hello World!
  • #18,863
  • Nov 7, 2014 10:34am Nov 7, 2014 10:34am
Quoting Karpa
This is just a technical retracement! Target is 1100, kindly take a look at weekly chart. Cheers
Bulls are in action, I can't see any major peakout yet, I maybe wrong, but this is what my view says.
Hello World!
  • #18,864
  • Nov 7, 2014 11:01am Nov 7, 2014 11:01am
hi guys, im new to trading,

i made a rookie mistake, i was trading morning session on gold and doing well taking small profits, but put a short limit order in for 1.53,51 [around 12.30 gmt when price was around 1.44,35] - i got called away for afternoon, logged off forgetting about limit order short, came in just now 5pm gmt to find Gold up around 1.65,88 and im looking at current 1,550 losing trade

will gold retract at all on price from recent run this afternoon or is it set to keep running higher - ie should i cut my loses now or try to wait for slight price fall to limit loses

[i know ill get hammered for the newbie mistakes, but prior to this i was doing pretty well 40% up over first month]
  • #18,865
  • Nov 7, 2014 11:04am Nov 7, 2014 11:04am
Quoting ClockTrader
{quote} Bulls are in action, I can't see any major peakout yet, I maybe wrong, but this is what my view says.
maybe USD has weakened or there's true physical demand or instead pure spaculation/profit taking
let's see next week, gotta go

Have a nice weekend
  • #18,866
  • Nov 7, 2014 11:35am Nov 7, 2014 11:35am
I got hit badly on my short Gold today.

USD seem to be taking profit.

It had rebounced from 4H 50ma and Gold seem to have slow down on the bullish side.
  • #18,867
  • Nov 7, 2014 11:55am Nov 7, 2014 11:55am
Any views on how much higher gold can go, is it at a resistance level at the moment? I'm new to this forum and trading, so a bit confused.
Cheers
  • #18,868
  • Nov 7, 2014 12:07pm Nov 7, 2014 12:07pm
Quoting Samsamall
Got 600+ pips today. Now I'm out from short when the price hit 1st daily support line 1132. Wait and see if the price dive lower than 1132 in large volume. I'm afraid that the price could a little bounce back today. {image}
I suspected a bounce back this morning because I see a long red bar close outside Bolling band, and the following bar is green. And also MACD signal line is about to cross each other on 8H chart. This pattern happen a lot of time on small and high time frame. Please look at my chart and back to history on your chart. This is just my notice to share and Hope to get feedback from you.

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Trade at your own risk. Don't follow one's opinion.
  • #18,869
  • Nov 7, 2014 12:32pm Nov 7, 2014 12:32pm
Quoting Karpa
This is just a technical retracement! Target is 1100, kindly take a look at weekly chart. Cheers

Agree. Looks like some profit taking and short covering.
"The market can remain irrational longer than you can remain solvent"
  • #18,870
  • Nov 7, 2014 1:28pm Nov 7, 2014 1:28pm
I was out most of the day as Friday is my official holiday. However my orders did well as I was cheking through my mobile every hour or so. I cleaned my pot once I reached my weekly target. Looking at the current price I might have done better if I were online.

It was a very nice day for GOLD since long time.

Have a nice weekend.
No guts, no glory
  • #18,871
  • Nov 7, 2014 2:18pm Nov 7, 2014 2:18pm
Quoting Karpa
This is just a technical retracement! Target is 1100, kindly take a look at weekly chart. Cheers
I dunno.. I see a nice pinbar on the weekly, looking pretty bullish for me at least for next week. perhaps the following week we may be down again. I think we will be up next week, at least to 1200 and see how it responds at that level.

http://postimg.org/image/g8ht5yqxd/

http://s16.postimg.org/g8ht5yqxd/8_nov_2014_weekly.jpg

Gold looks to be still ranging in a bit of a triangle for the rest of the year.. I think we just saw a fakeout

http://postimg.org/image/4gxhj1xcl/

http://s2.postimg.org/4gxhj1xcl/8_nov_2014_weekly.jpg
Forex Pirate
  • #18,872
  • Nov 7, 2014 2:56pm Nov 7, 2014 2:56pm
Quoting fxmasterdxb
{quote} Well while I respect your comment, I do not trade on emotions rather i have set of strategies that i follow and is actually paying me pretty well
You shouldn't even try to trade on emotions ever.
But not many traders could control themselfs good enough to trade with such high margin.
Its very easy if everything goes your way, but if not it can be pretty harsh, because you only need 5 loses in the row to wipe your account.
  • #18,873
  • Nov 7, 2014 3:17pm Nov 7, 2014 3:17pm
Quoting ClockTrader
{quote} Bulls are in action, I can't see any major peakout yet, I maybe wrong, but this is what my view says.
Very nice. I hope you got some of it.

No predictions.

From my perspective, they (the Smart Money) really only gave one chance to get in on the 60 min. chart.

Check out the chart below.

Seeing the wide spread down bar on volume less than the previous two intervals, could have alerted one to what was going to happen. In VSA, we call this type of bar No Selling Pressure.

Price does change behavior and the we then do see the bars turn Blue, Chart Mode turn Bullish and price trade above the BPL. What we would then want to see is a down bar on volume less than the previous two intervals-a Test or No Supply bar. Bar C was such a bar.

Moving away from VSA, there was a beautiful Buying Aggression bar alerting us to potential strength in the market. If you look closely, you can see that Chart Mode changed on this interval.
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #18,874
  • Edited 3:58pm Nov 7, 2014 3:32pm | Edited 3:58pm
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was a beautiful completion last night on the last push down of my weekly fib 161 take profit for shorts , had a pending long at 1135 to go long and it worked out better than expected with no chop....... Straight into monthly demand and up she went.....If this fib is to complete to the upside, I am looking at my 0 fib or the weekly 21 ema which ever comes first, have a great weekend all


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  • #18,875
  • Nov 7, 2014 4:19pm Nov 7, 2014 4:19pm
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Ro IMRAN Ro
  • #18,876
  • Nov 7, 2014 5:41pm Nov 7, 2014 5:41pm
Something to read over the weekend on Gold:
The Big Reset: War on Gold and the Financial Endgame

Have a nice weekend, all...
  • #18,877
  • Nov 7, 2014 9:27pm Nov 7, 2014 9:27pm
"No predictions" not sure what you mean by saying this.

I'm not a magician or do voodoo stuff here, I have a target of 800-900 in about 5 years from now, this is my speculation. I may be right or wrong, time will that. I've also been talking of one exceptional year when Bears won't be too angry (over the next 5 yrs). Right now I can tell you one thing, that I'm loving to watch this Bull Wave.

As for VSA, I don't follow any book or documentation, I follow VVSA on the basis of my experience and observation. That is the reason, my volume bars will be completely different from what you can see anywhere on internet. These are 100% transparent, explain everything at first glance.

As visible in the chart, a clean bottom-out took place around the circle (during the price-shoot). There is no clean & clear peak-out yet. I will try my best to not trade on Monday at all. After a "vertical bounce" like this, I'd prefer taking a break for a day to see how this plays out.

I've been talking of this vertical bounce for several weeks now and a lot in the past week.

Its true I couldn't catch this Bull wave, I missed the Golden train, but, being an Indian I'm just more than glad to see it climbing.

OLD NEWS: Indian homes hold gold worth $950 billion
ACTUAL DATA: INDESCRIBABLE


Quoting HiddenGap
{quote} Very nice. I hope you got some of it. No predictions. From my perspective, they (the Smart Money) really only gave one chance to get in on the 60 min. chart. Check out the chart below. Seeing the wide spread down bar on volume less than the previous two intervals, could have alerted one to what was going to happen. In VSA, we call this type of bar No Selling Pressure. Price does change behavior and the we then do see the bars turn Blue, Chart Mode turn Bullish and price trade above the BPL. What we would then want to see is a down bar on...
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Hello World!
  • #18,878
  • Nov 7, 2014 9:34pm Nov 7, 2014 9:34pm
Quoting Karpa
{quote} maybe USD has weakened or there's true physical demand or instead pure spaculation/profit taking let's see next week, gotta go Have a nice weekend
There are 3 major reasons which I talked about before this shoot took place. I was telling this to a good trader who had like 10-20 lots or a lot more of shorts in DARK GREEN, I don't think anyone has shared so much greenery here before (in this thread).

Att.. pics say it all.
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Hello World!
  • #18,879
  • Nov 8, 2014 2:07am Nov 8, 2014 2:07am
Quoting abokwaik
I was out most of the day as Friday is my official holiday. However my orders did well as I was cheking through my mobile every hour or so. I cleaned my pot once I reached my weekly target. Looking at the current price I might have done better if I were online. It was a very nice day for GOLD since long time. Have a nice weekend.
Hi abokwaik, looks like you're making great gains here, keep going mate!
  • #18,880
  • Nov 8, 2014 2:08am Nov 8, 2014 2:08am
Quoting hollowhead
Ahh!! Got stuck in a meeting and got caught out badly. Had to take drastic action, which led to closing out all my trades. I know I'm going to regret it, but I'd built so heavily, I had to ensure I bagged some of it. Trades until worth anything until they're closed. Will start building again next week. Have a good weekend all.
hollowhead!!! What the %#@& happened - last time (like yesterday?) I saw you were up like 50% or something like that?! That's horrible to see mate but just shake it off and get back on track.
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