DislikedSorry for the newb Q, but do CL and GC futures contracts correlate exactly with FX oil and gold?Ignored
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #34,521
- Sep 3, 2015 9:49am Sep 3, 2015 9:49am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #34,523
- Edited 1:18am Sep 4, 2015 12:54am | Edited 1:18am
{quote} Got that right, that it isto believe manipulation - the tinfoil heat wearers favorite rationalization for their losses.
You can always make money tomorrow provided you don't lose it today.
- #34,524
- Sep 4, 2015 8:03am Sep 4, 2015 8:03am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #34,526
- Sep 9, 2015 10:17am Sep 9, 2015 10:17am
- Joined May 2011 | Status: [Forex]X-Ray | 4,835 Posts
- #34,529
- Sep 9, 2015 12:20pm Sep 9, 2015 12:20pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #34,531
- Sep 9, 2015 1:58pm Sep 9, 2015 1:58pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #34,533
- Edited 9:37am Sep 11, 2015 9:12am | Edited 9:37am
Few charts:
Price rebound two months ago from confluence of 3 supports: trendline, support of 02.2010 and ema 144 of monthly chart.
Price of gold is currently too high to buy and too low to sell.
My strategy on next week:
-Buy if price stops at about 1060 with tp at daily ema 55 (about 1130)
-Sell if price goes up to 1186 OR I if can see a clear rebound of daily ema 144 (about 1160, "clear" means I can see a weakness in candles and big volume).
Price rebound two months ago from confluence of 3 supports: trendline, support of 02.2010 and ema 144 of monthly chart.
Price of gold is currently too high to buy and too low to sell.
My strategy on next week:
-Buy if price stops at about 1060 with tp at daily ema 55 (about 1130)
-Sell if price goes up to 1186 OR I if can see a clear rebound of daily ema 144 (about 1160, "clear" means I can see a weakness in candles and big volume).
- #34,534
- Sep 11, 2015 1:35pm Sep 11, 2015 1:35pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
Few charts: {image} Price rebound two months ago from confluence of 3 supports: trendline, support of 02.2010 and ema 144 of monthly chart. {image} Price of gold is currently too high to buy and too low to sell. My strategy on next week: -Buy if price stops at about 1060 with tp at daily ema 55 (about 1130) -Sell if price goes up to 1186 OR I if can see a clear rebound of daily ema 144 (about 1160, "clear" means I can see a weakness in candles and big volume).
Nice. And finally someone using a MA that makes perfect sense. 144 the only square fib number but also when it is plotted on a monthly chart it represents a symmetrical 12 year cycle (12X12 months). Which I'm sure you already know.
I can never understand why someone uses a 200 MA {standard follow the crowd stock market setting} instead of a 250 MA close to a yearly cycle on a daily timeframe, but then even more so when they still use this 200 period when going to shorter timeframes like hourly or 5minute. Instead of using one based on multiples of 12. Strange.
Anyway looks like your monthly target zone is similar to what I see on quarterly:
