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  • #21,121
  • Jan 7, 2015 7:21am Jan 7, 2015 7:21am
weird reaction against the good data, uj going up eu going down but gold try to hold
  • #21,122
  • Jan 7, 2015 7:29am Jan 7, 2015 7:29am
Quoting kuroro001
{quote} No worries! Back to trading, looks like Gold is bought at this low today. But i'll still be looking to short the highs
still has room... hmmm i think

looking at H4
  • #21,123
  • Jan 7, 2015 7:35am Jan 7, 2015 7:35am
1208 was a strong resistance for going up and it sees it is a good support now.
  • #21,124
  • Jan 7, 2015 7:58am Jan 7, 2015 7:58am
  •  Kah
  • | Joined Jun 2012 | Status: Patience is the Key to Success! | 150 Posts
Good day to all!

Long time - took a complete off from everything to celebrate a wonderful Christmas followed by a great opening to the New Year with so many resolutions being made.

Gold has been been treating me well - tried longs starting from 1173 and held them till today but got out of them at 1211.76 as I again see a bearish setup coming up.

M-30, has a confirmation when it breached 1215.30 (chart attached)

H-1, is testing 1208.50 which is playing in as a support, if taken out we will move to H-4 support at around 1198.50 (charts attached)

We all have our own ways of trading, mine are completely different, I trade fundamentally correlated technicals, I have developed my own systems - working out great for me so far.

It has been a great start of the year and I wish the same to all out there.

Last but not the least patience is the key.

Moved on to shorts again from 1218.50 and will keep adding more on its way south.

Cheers,
KAH
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GOLDeM30.png Size: 25 KB
Click to Enlarge Name: GOLDeH1.png Size: 23 KB
Click to Enlarge Name: GOLDeH4.png Size: 27 KB
  • #21,125
  • Jan 7, 2015 8:14am Jan 7, 2015 8:14am
Quoting Kah
Good day to all! Long time - took a complete off from everything to celebrate a wonderful Christmas followed by a great opening to the New Year with so many resolutions being made. Gold has been been treating me well - tried longs starting from 1173 and held them till today but got out of them at 1211.76 as I again see a bearish setup coming up. M-30, has a confirmation when it breached 1215.30 (chart attached) H-1, is testing 1208.50 which is playing in as a support, if taken out we will move to H-4 support at around 1198.50 (charts attached) We...
do you mean to short again in next retracement at 18** ? or you shorted it already? thanks!!
  • #21,126
  • Jan 7, 2015 8:24am Jan 7, 2015 8:24am
  •  Kah
  • | Joined Jun 2012 | Status: Patience is the Key to Success! | 150 Posts
Shorted it already at 1218.50.

Adding more on the breach of every support mentioned.

Cheers,
KAH
  • #21,127
  • Edited 8:46am Jan 7, 2015 8:32am | Edited 8:46am
The sellers have took short against this movement from 1220 . But it should be vey short to 1200 or before...
  • #21,128
  • Jan 7, 2015 8:32am Jan 7, 2015 8:32am
I think we could see gold move higher to 1288, especially if there are reservations about timing of rate increase amongst FED members in FOMC minutes. Given talk of deflation and the ECB moves, plus China weakening and continued fear of a Greek exit, intermediate term bias is long gold IMHO.

I am going to trade a bit more cautiously as clear direction has not been established. On the other hand, there looks to be some really excellent trading opportunities in the S&P, oil and some non dollar currency pairs.
"The market can remain irrational longer than you can remain solvent"
  • #21,129
  • Jan 7, 2015 8:32am Jan 7, 2015 8:32am
Quoting Kah
Shorted it already at 1218.50. Adding more on the breach of every support mentioned. Cheers, KAH
i would not want to hear opinions of it to retrace up so high, thats why got worried and asked LOL

anyway will never know exactly where market goes.

hope it stays low, thank you for replying.
  • #21,130
  • Jan 7, 2015 8:33am Jan 7, 2015 8:33am
Looking for todays bottom to remain intact, upper TL on 5M TF to be breached for further upside intraday.

UTL holding as resistance then looking to short intraday back inside channel.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-01-07 at 15.30.59.png Size: 244 KB
To live a successful life, we must lose our fear of being wrong
  • #21,131
  • Jan 7, 2015 8:40am Jan 7, 2015 8:40am
the weekly we find the moving average (50) @ 1270 so we have uptrend which has started before few days a go. ..also we need alower figure to buy with it..specialy it seems likely to go up...I thing the price has finished testing 1200 may be maximum 1196 ..
  • #21,132
  • Jan 7, 2015 9:17am Jan 7, 2015 9:17am
I shorted at 1216 as well. IMO 1223 is a pretty strong resistance and it couldn't close above that level and if it does we might see rally to 1233 level again. ATM, 1210 is standing pretty strong and if we break below we might retest 1200 level again.
  • #21,133
  • Jan 7, 2015 9:31am Jan 7, 2015 9:31am
Quoting anton.olff
I think we could see gold move higher to 1288, especially if there are reservations about timing of rate increase amongst FED members in FOMC minutes. Given talk of deflation and the ECB moves, plus China weakening and continued fear of a Greek exit, intermediate term bias is long gold IMHO. I am going to trade a bit more cautiously as clear direction has not been established. On the other hand, there looks to be some really excellent trading opportunities in the S&P, oil and some non dollar currency pairs.
Quoting berda
{quote} Hi CT, I'm trying short at 1214.39, targeting 1206.32 (hopefully..) Wish me luck.. Thanks for your suggestions mate.. Green pips to you and all.. amen.. {image}
@1211

I am expecting a burst into North.. this Bull Biz may carry on..

Expecting serious PA during the remainder US session & remainder week.

I'll await a HUGE PEAK-OUT..
Hello World!
  • #21,134
  • Jan 7, 2015 9:40am Jan 7, 2015 9:40am
some tough up tries at m1 m5 graphs, we will see stop hunting till fomc minutes i guess.
  • #21,135
  • Jan 7, 2015 10:37am Jan 7, 2015 10:37am
Intraday UTL of channel respected so far.

Looking for a clear break of either end for next major move.

Currently holding a short looking for 1208 for next position.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2015-01-07 at 17.35.18.png Size: 102 KB
To live a successful life, we must lose our fear of being wrong
  • #21,136
  • Jan 7, 2015 10:58am Jan 7, 2015 10:58am
Quoting EatPIPs
Intraday UTL of channel respected so far. Looking for a clear break of either end for next major move. Currently holding a short looking for 1208 for next position. {image}
I've enter to early, but I have faith in trend line waiting for 1208
Attached Image (click to enlarge)
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Mining gold
  • #21,137
  • Jan 7, 2015 11:00am Jan 7, 2015 11:00am
I am looking to long gold, but not until it touches this level.
Attached Image (click to enlarge)
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  • #21,138
  • Jan 7, 2015 11:11am Jan 7, 2015 11:11am
Quoting TriLLi
{quote} I've enter to early, but I have faith in trend line waiting for 1208 {image}
IMO, a break of the LTL will send PA to 1207 where current strong support sits. Would expect a little consolidation here and if it were to continue south further for the remainder of the week, I would be targeting 1198 which also sits firmly on the 38.2 FIB. Any extension of a move down to these levels could extend to 1188-1189.

As much as I want to buy this market, technically on the larger TFs we have touched the UTL of the downward channel from 2012, its been breached but not closed into let alone had any form of follow through. Until 3 complete days of closure above that UTL channel 1250+ is confirmed - only then would I be looking for longer term buys.

Saying that, I have been both buying and selling under current market conditions for a few bucks in both directions banking what I can.

1208-1207 is my next deciding point of short term direction, either remain channel trading or break below into the prices mentioned above.

***Please do not follow my analysis - trade your own charts. Above is just my view on how I see things. A break and close above 1220 could send it to 1233. Just looking for PA to blow out of current short term channel either direction positions set.
To live a successful life, we must lose our fear of being wrong
  • #21,139
  • Jan 7, 2015 1:02pm Jan 7, 2015 1:02pm
Quoting ClockTrader
{quote} {quote} @1211 I am expecting a burst into North.. this Bull Biz may carry on.. Expecting serious PA during the remainder US session & remainder week. I'll await a HUGE PEAK-OUT..
Not climbing as expected..
Hello World!
  • #21,140
  • Jan 7, 2015 1:05pm Jan 7, 2015 1:05pm
FOMC Meeting Minutes started. where we go from here 1210???
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