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  • #19,101
  • Nov 14, 2014 9:50am Nov 14, 2014 9:50am
Quoting elbert3
Morning chart later problems loading since I cleaned pc.. 1147,8 buy order sl 1145 target 1180 add 1161 if we can get up there ..
took the 47 trade off bang on 80,,,, 61 is locked on to 1171 tp 82
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  • #19,102
  • Nov 14, 2014 9:52am Nov 14, 2014 9:52am
Quoting griffinssoul
{quote} mcgross, if you ever need help just ask traders here - there is almost always a senior trader willing to help... CT for a start (one of the best traders on FF)
Dude, I'm not one of the best traders here.. IF I were I would be a multi-millionaire by now. On the dreamy note, if I ever become a substantial type multimillionaire, I'll treat all active & worthy members here :-)

---------

After about a week, we finally got some high voltage action on H1.. Lets see where price stabilizes..

IF Bulls can show submissive behavior early next week, there could be a nice opportunity to try shorts.
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Hello World!
  • #19,103
  • Nov 14, 2014 9:55am Nov 14, 2014 9:55am
What a week !

Closed all my longs for the week at profit. My Golden plate is clean now.

However I still have some other dirty plates filled with oil, yen and cable. Hope these get cleaned next week.

Have a nice weekend every one.
No guts, no glory
  • #19,104
  • Nov 14, 2014 9:57am Nov 14, 2014 9:57am
Quoting multi888
{quote} FXStreet (Mumbai) - Gold price received a shot in the arm since the Treasury yields in the US failed to sustain gains despite a better-than-expected US retail sales and Michigan confidence data. Gold traded 0.44% higher at USD 1166.30/Oz levels, while the ten-year treasury yields retreated to 2.347% from the day’s high of 2.377%. The two-year treasury yield declined to 0.536%, from the day’s high of 0.548%. Moreover, the yields have retreated despite the advance retail sales printing at 0.3% in October; higher than the market expectation...
You are overlooking the obvious! ClockTrader's explanation is more accurate given the timing of the sudden increase in price. Timed just after all the USA favourable news was collated for the day and many expecting a concomitant decrease in gold price with increased dollar strength. The market makers are ruthlessly stop loss hunting.
  • #19,105
  • Nov 14, 2014 10:01am Nov 14, 2014 10:01am
Quoting elbert3
{quote} took the 47 trade off bang on 80,,,, 61 is locked on to 1171 tp 82{image}
Good call mate!

Hello World!
  • #19,106
  • Nov 14, 2014 10:42am Nov 14, 2014 10:42am
Have a nice weekend fellas!

Trade Safe! Greenery to all!!
Hello World!
  • #19,107
  • Nov 14, 2014 10:47am Nov 14, 2014 10:47am
Quoting ClockTrader
{quote} Good call mate!
Thanks... i think my 2nd pp might be hit but is 82 gos i think 1200 is on the cards
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  • #19,108
  • Nov 14, 2014 11:03am Nov 14, 2014 11:03am
Quoting Steve J
{quote} You are overlooking the obvious! ClockTrader's explanation is more accurate given the timing of the sudden increase in price. Timed just after all the USA favourable news was collated for the day and many expecting a concomitant decrease in gold price with increased dollar strength. The market makers are ruthlessly stop loss hunting.
You could be right. We had a $20+ rise last Friday the 7th of November too, only for gold to retreat on Monday.
"The market can remain irrational longer than you can remain solvent"
  • #19,109
  • Nov 14, 2014 11:25am Nov 14, 2014 11:25am
Quoting Samsamall
Today is a boring day. On 30 minute time frame it is forming a triangle. IMO, the probability to go up is 70%, down only 30%. The RSI support moving up also. Just my opinion. Trade at your own risk. 30M {image} 15M {image} Pattern {image}

Hahah! I couldn't believe this!! Gold already touch the 1st weekly resistant line at the price 1190. So please be careful. I think we should wait for monday next week to see what is going on. Good luck every body.

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Trade at your own risk. Don't follow one's opinion.
  • #19,110
  • Nov 14, 2014 11:37am Nov 14, 2014 11:37am
Quoting elbert3
{quote} Thanks... i think my 2nd pp might be hit but is 82 gos i think 1200 is on the cards {image}
locked on 83
  • #19,111
  • Nov 14, 2014 11:44am Nov 14, 2014 11:44am
I see a complex wave (b) of an irregular flat correction as complete. Now bouncing back up on wave (c) towards somewhere above 1434 the top of (a).
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Elliott Wave for optimum entry, exit and risk management of trades
  • #19,112
  • Nov 14, 2014 12:04pm Nov 14, 2014 12:04pm
Guys, this ain't no stop-loss hunting, this is pure...

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...BEAR SLICING!

Less is more...
  • #19,113
  • Nov 14, 2014 12:15pm Nov 14, 2014 12:15pm
Quoting Samsamall
{quote} Hahah! I couldn't believe this!! Gold already touch the 1st weekly resistant line at the price 1190. So please be careful. I think we should wait for monday next week to see what is going on. Good luck every body. {image}
Zerohedge says it is due to Swiss Gold Initiative...which if it doesn't pass, will likely crash gold prices.
"The market can remain irrational longer than you can remain solvent"
  • #19,114
  • Nov 14, 2014 12:30pm Nov 14, 2014 12:30pm
Holy.

Im not touching gold market today, i dont think price will hold, bears will again take the market down once more.
  • #19,115
  • Nov 14, 2014 12:31pm Nov 14, 2014 12:31pm
Quoting NWGstudent
Holy. Im not touching gold market today, i dont think price will hold, bears will again take the market down once more.
bears will chop the price
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  • #19,116
  • Edited 2:20pm Nov 14, 2014 1:44pm | Edited 2:20pm
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i called the short at 1336 to 1140 I was told NO WAY its going long, i called the long at 1140 when are people going to realise fibs work and all the crap you hear on the news is to throw you off!!!!!! It was a beautiful 61.8 monthly retracement if it goes to my 70.5 so be it 1047 - but 2400 still holds

do you really think that when price was at 1798 they new about Crimea - and all the troubles in the world? Has nothing to do with it, it may cause valleys and peaks as it moves lower but its all calculated years in advance where price is going, the market is fixed no ifs ands or buts.......

turn off the news dont listen and just trade the charts!!!!! Of course there will be a retracement lower, this was a news spike but bears are about done, next target over 2400 call me crazy lol

If I called 1312 when it was at 1767 I would have been called nuts then as well, it took a bonus level on the way down to the 200 fib at 1168 we called 1312 at 1772

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  • #19,117
  • Nov 14, 2014 1:52pm Nov 14, 2014 1:52pm
That was then and this is now.
I predict that it will go up to 1526.
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  • #19,118
  • Nov 14, 2014 2:01pm Nov 14, 2014 2:01pm
That was then and this is now
I predict that it will go up to 1526
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  • #19,119
  • Nov 14, 2014 2:15pm Nov 14, 2014 2:15pm
Quoting iaveight
i called the short at 1336 to 1140 I was told NO WAY its going long, i called the long at 1140 when are people going to realise fibs work and all the crap you hear on the news is to throw you off!!!!!! turn off the news dont listen and just trade the charts!!!!! Of course there will be a retracement lower, this was a news spike but bears are about done, next target over 2400 call me crazy lol
I whole heartedly agree with your statement...there should be a disclaimer before the funnymentals are released saying,"for entertainment purposes ONLY". When "just trading the charts" ...I would add that you need to be objective when trading the charts.... no bulls no bears...just what are the charts telling you.

Having said that, I think you maybe a bit premature on the 2400 target. I've shorted gold here @1188,63 tgt in the short term @1129. I believe 1095/99 is viable and lower before we get the reversal in the trend which seems to be what you are trading unless I misunderstood your statement.
I may not be right...BUT, I am never wrong
  • #19,120
  • Edited 2:43pm Nov 14, 2014 2:25pm | Edited 2:43pm
Quoting Spartanholds
{quote} I whole heartedly agree with your statement...there should be a disclaimer before the funnymentals are released saying,"for entertainment purposes ONLY". When "just trading the charts" ...I would add that you need to be objective when trading the charts.... no bulls no bears...just what are the charts telling you. Having said that, I think you maybe a bit premature on the 2400 target. I've shorted gold here @1188,63 tgt in the short term @1129. I believe 1095/99 is viable and lower before we get the reversal in the trend which seems to be...
I am not saying it will reach 2400 in the next 12 months I am telling you what my fib is telling me, all indicators LAG , its a visual representation of what price has started to do, IMO fibs are the only leading indicator telling you where price will go in the future........ I cant say how long it will take to get there (because i am not versed in fib time tool), 2 years ect but at that level I know to short again !!! Price bounced between two monthly fib levels 1312 and 1184 not quite touching my monthly fib level at 1168 , now that it did I have turned bullish, If price breaks and holds my 200 fib from below then 936 would be next target but that is not viable as mines would shut and there would be no supply and lots of demand......... I told a forum today - GBP USD hit short target on weekly fib, not an hour later news comes out and reverses it over 100 pips....

I see your target which is a tiny doji on the monthly ( an order block in supply demand circles) if you notice price touched this monthly doji already on the upside wick , with the low created last week

Hurdles I use for price is monthly fibs price travels between them finally coming to touch each fib level if drawn correctly

On the way up hurdles 1312 - 1400 1443 1476 1554 ect based on monthly fib levels
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