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Only Gold!

  • #23,821
  • Feb 25, 2015 4:04am Feb 25, 2015 4:04am
Quoting melvinlimmy
Okay bulls step aside( you've done your part) Let bears take over Sell Tp at 1160 SL 1220 {image} {image} {image}
To target 1160 it will be good to have D1 on your side completely. By the looks (your last chart) Chikou still above Kumo?
  • #23,822
  • Feb 25, 2015 4:08am Feb 25, 2015 4:08am
Quoting goldngreen
{quote} To target 1160 it will be good to have D1 on your side completely. By the looks (your last chart) Chikou still above Kumo?
Agreed. And his TP target have very low probability of hitting, unless some news appear and favor his direction.A problem with Ichimoku I used is slow entry level, unless you found your right tf and risk tolerance.
The only winner is the one who survive the longest...
  • #23,823
  • Feb 25, 2015 4:14am Feb 25, 2015 4:14am
Quoting kinspk
{quote} Agreed. And his TP target have very low probability of hitting, unless some news appear and favor his direction.A problem with Ichimoku I used is slow entry level, unless you found your right tf and risk tolerance.
Yep.

Though h4 is quite clear - that may drive it down to 1180 or so before heading up.

D1 Ichi IMO has just completed a retrace downwards and needs to retest the top of kumo if it wants to head further south.

Though, like you said, some news may upset the equilibrium.
  • #23,824
  • Feb 25, 2015 4:14am Feb 25, 2015 4:14am
Quoting kinspk
{quote} Agreed. And his TP target have very low probability of hitting, unless some news appear and favor his direction.A problem with Ichimoku I used is slow entry level, unless you found your right tf and risk tolerance.
Yes it won't be easy to print some new lows, but i'm not a big buyer yet.

What i use to look at in the past with euro are the big gaps. For the past few years, every time a retail gap appeared and the price went away 800/1000 pips from it, it used to retrace back to it. But the euro has a gap at 1,32xx and 1,20xx, pretty far away.

If dollar sell off appear, Gold should rise back up.

But i've noticed there is good inverted correlation between Gold and yen. When Euro rise and yen pairs fall, its good to buy Gold

I'm flat for now, but looking to short Gold for 1195,xx at least. Maybe the move already started
COT: The precious data ignored
  • #23,825
  • Feb 25, 2015 4:23am Feb 25, 2015 4:23am
Thanks for the comments, IMO this trade is a free ride, H4 is clear.PA move downwards close to 1200 i will move my stop loss to my entry price thus creating a free trade & since theres no swap for gold, i can just ride the downward wave.
  • #23,826
  • Feb 25, 2015 4:27am Feb 25, 2015 4:27am
Quoting melvinlimmy
Thanks for the comments, IMO this trade is a free ride, H4 is clear.PA move downwards close to 1200 i will move my stop loss to my entry price thus creating a free trade & since theres no swap for gold, i can just ride the downward wave.
Cool, u r using trade interceptor too. Btw bro, whats ur entry price?
The only winner is the one who survive the longest...
  • #23,827
  • Feb 25, 2015 4:40am Feb 25, 2015 4:40am
Quoting kinspk
{quote} Cool, u r using trade interceptor too. Btw bro, whats ur entry price?
Yea mt4 just looks to messy.1209.8
  • #23,828
  • Feb 25, 2015 4:55am Feb 25, 2015 4:55am
double bottom is appearing on hourly chart, reversal might be around the corner. It may reverse after hitting 1202 area which is 61.7 fib of d.b. pattern. IMO. Would love to have an expert opinion because I'm still a learner.
  • #23,829
  • Feb 25, 2015 5:21am Feb 25, 2015 5:21am
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  • #23,830
  • Feb 25, 2015 6:23am Feb 25, 2015 6:23am
Still no shorts here, maybe after Yellen speech

But so far its like it wants more upside.
COT: The precious data ignored
  • #23,831
  • Feb 25, 2015 6:33am Feb 25, 2015 6:33am
added long position @1209.34 with SL @1205.35
Trust yourself maybe will be wrong,doubt yourself absolutely will be wrong
  • #23,832
  • Feb 25, 2015 6:56am Feb 25, 2015 6:56am
Quoting kuroro001
Still no shorts here, maybe after Yellen speech But so far its like it wants more upside.
Yellen going to speak again?
The only winner is the one who survive the longest...
  • #23,833
  • Feb 25, 2015 7:01am Feb 25, 2015 7:01am
Quoting kinspk
{quote} Yellen going to speak again?
Yeah.. 10.p.m. eastern time.

And 11.30 p.m. got draghi testifies before ECB
  • #23,834
  • Feb 25, 2015 7:30am Feb 25, 2015 7:30am
Yea. Q & A.

Drinking night. Not going take her q&a too serious. Good luck guys.
The only winner is the one who survive the longest...
  • #23,835
  • Feb 25, 2015 7:59am Feb 25, 2015 7:59am
@Goldminer: Thanks! Waiting for it to breach 1210.
@Kinspk: Enjoy your night! IMO there will be hardly anything different for Yellen or Draghi to say. Market has already built their sentiment about Greece and Rates.
  • #23,836
  • Feb 25, 2015 8:04am Feb 25, 2015 8:04am
Gold short TP 1200

Again Long from 1200.
  • #23,837
  • Feb 25, 2015 8:14am Feb 25, 2015 8:14am
Quoting Raider
Gold short TP 1200 Again Long from 1200.
I took profits on trades a bit early at 1210...now long at 1204 with first target of 1224.
"The market can remain irrational longer than you can remain solvent"
  • #23,838
  • Feb 25, 2015 9:12am Feb 25, 2015 9:12am
What a crap day, boring, nothing to do unless boring scalps
COT: The precious data ignored
  • #23,839
  • Feb 25, 2015 9:16am Feb 25, 2015 9:16am
Quoting kuroro001
What a crap day, boring, nothing to do unless boring scalps

Agreed...but it does look like the calm before the storm, so keep the faith.
"The market can remain irrational longer than you can remain solvent"
  • #23,840
  • Feb 25, 2015 9:23am Feb 25, 2015 9:23am
Gold seems wants to go up...
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