I waited and watched it get back up to 1725 and managed to get out my long unscathed Quite glad about that - felt a bit like a scalper/day trader for a while there - was split second stuff!
Anything can happen.
GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies
Gold futures & XAU 77 replies
Daytrade - XAU/USD & XAG/USD 14 replies
XAU/JPY & XAG/JPY 13 replies
Successful XAU/USD traders 7 replies
Dislikedbeeb & xtrade
Can it be assumed that we have seen the last leg of the correction or we'll likely continue this 1700-1720-1730-1739 range for a little longer?
I got my 2 buy limits in @ 1720 and 1710. Kind of even now. Stoploss @1650 (use microlots anyways).
Cheers.Ignored
Dislikedbeeb & xtrade
Can it be assumed that we have seen the last leg of the correction or we'll likely continue this 1700-1720-1730-1739 range for a little longer?
I got my 2 buy limits in @ 1720 and 1710. Kind of even now. Stoploss @1650 (use microlots anyways).
Cheers.Ignored
DislikedI also use much tighter stops on my positions than many on here, so if I'm wrong I live to fight another day...see post # 25,513Ignored
Dislikednow the head and shoulder should be done we reached 1705 if it didnt break we will be up after that
that my reading happy to hear any other opinionIgnored
DislikedI'm relaxed but I put a lot of info out here - 250+ views of a chart and one comment kinda pisses me off sometimes......
beebIgnored
DislikedThanks KADC
Here's SI 20 min:
http://www.screencast.com/t/ZHeXwpfm
Blue lines show the horizontal range but I'm more interested in the series of circled highs that are progressively lower in the fork. Price needs to take out some of these highs in the slope of the fork to rejuvenate the bullish move.....
beebIgnored
DislikedI still feel the bias is a little tilted to bull side though whole economic situation around the world now is so complicated and it's so hard to read where these prices might swing. In this age of price manipulation and QEs, it's only wise to thread carefully with positions until Jan-Feb.
Cheers.Ignored
DislikedThe bull or bear bias is relative to your investment time frame. If you're scalping or day-trading, your bias will obviously change much more frequenly than someone who, for example, got in long at $1685 and intends to hold until the top of the next leg up.
Here's a charts showing a 20-year annual average which I consider when buying ETFs, whereas for futures, stocks, and Forex I look at the candles, trend lines, and RSI on the daily, hourly, and five-minute charts for entry and exit targets.
http://www.equityclock.com/charts/go...easonal-chart/
Note...Ignored
DislikedKADC,
I have a medium term approach to trading. Looking at the daily chart closely, i feel this moment is only a correction face. By the time the looming US fiscal tragedy, excessive QEs and euro debt burden comes live in 2013 (they still have room now), the currencies may likely become worthless and metals might be a safe haven. It is great USD's having a fake ride now. It also will not be long before it's fall of like magnitude.
I have 2 long positions @1710 and 1720 which i do not intend to quit. I'm however hoping that price could drop...Ignored
DislikedSince nobody is saying anything here's SI weekly with some lines that I find quite interesting, and 60,3,3 stochastics at the bottom:
http://www.screencast.com/t/mkaOhnERGRxu
beebIgnored
DislikedOk guys, here good profitable setup. Sell gold at 1725-1728. SL 1740. Tp 1700. Reverse should be at 1728. If you will sit al day you can try to squeeze SL.Ignored