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nice idea to sell now 1706 and exit 1702 for short, and dont forget for this week gold at sell condition. from 1706 is area sell to 1672. the recomendaion is sell for short and long.


Quoting KADC
Scalping-wise, I'm tempted to agree and have twice almost placed small "grocery money" shorts at $1706 to exit at $1701; however, I would not go short if we break above $1707 as that looks to me to be the "line in the sand" on shorter-term charts which would have me going long upon a retest from above.

Longer term, because daily RSI has failed to retest the support line (solid blue) I would like to see it breach the descending RSI resistance line (dotted blue) before I commit to going long.

Price-action-wise gold is in the bottom support...
ahdts
Quoting XTrade
How's everyone doing? This is going to be a bit slow until after January.

Great time to buy physical.

XT.
I'm doing great. How are you doing? I'm still accumulating physical, and buying AGQ (ProShares Ultra Silver ETF, leveraged 2x) on the dips.
Get money, don't let money get you.
163.20 on GLD has a chance to be the bottom in my opinion. Not really the cleanest looking charts I've seen, but a viable entry time that is low risk.
Twitter: @zusch_fx -- Preselecting trending pairs on a weekly basis.
Quoting beeb
GC 240 - perfect abcd formation:

http://www.screencast.com/t/ewy3WnNLA

beeb
i am not familiar with what is ABCD formation .... what will happen next ? care to elaborate ? thanks .
  • ddinnov
    Joined Feb 2010
Quoting XTrade
How's everyone doing? This is going to be a bit slow until after January.

Great time to buy physical.

XT.
I joined the physical club today (gold)

Bought XAG/USD (spread bet) on this daily bounce - if it can clear 34.30(ish) I reckon it might take a pop at 35.00

This is quite an interesting article....:

http://www.bloomberg.com/news/2012-1...m-for-qe4.html
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Quoting TheArcher
i am not familiar with what is ABCD formation .... what will happen next ? care to elaborate ? thanks .
It is a completed pattern AB=CD

beeb
S&R
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A chart helps those who can read it.
Quoting geniusztc
S&R
Nice chart



beeb
Quoting beeb
It is a completed pattern AB=CD

beeb
if AB= CD , what should we expect to happen next ... a rise in price, a fall in price or a range play ?

what pattern is that ?
Quoting beeb
Nice chart



beeb
what is that u see and read in the chart that uninitiated mere mortals like us are missing in the chart ? what is the significance of those arrows in the chart ? what is he trying to convey in his chart ? we too would be happy to be in the know .
Quoting beeb
Nice chart



beeb
now we have the light SL chance.
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A chart helps those who can read it.
Quoting TheArcher
if AB= CD , what should we expect to happen next ... a rise in price, a fall in price or a range play ?

what pattern is that ?
The action at the P - half way along the CD line - implies that there will be a reaction at the D. As there was....

beeb
Quoting TheArcher
what is that u see and read in the chart that uninitiated mere mortals like us are missing in the chart ? what is the significance of those arrows in the chart ? what is he trying to convey in his chart ? we too would be happy to be in the know .
the trendline that was drawn acts as a median support and resistance....once the candle goes below it, it will drop and rise towards the tl and if it doesnt break then drop again. once it stays above then it becomes support....so right now it it above so chances it will go up then get attracted again to tl for support....does it make sense now
Wooooohooooo or Boooooohooooo
Quoting beeb
The action at the P - half way along the CD line - implies that there will be a reaction at the D. As there was....

beeb

Simple Harmonic Pattern

Quoting TheArcher
what is that u see and read in the chart that uninitiated mere mortals like us are missing in the chart ? what is the significance of those arrows in the chart ? what is he trying to convey in his chart ? we too would be happy to be in the know .
The chart in question is showing a trend line the daily silver charts which has served many times as support and resistance.

To expand on your comment though, there are a lot of charts being posted that could benefit from more commentary from the people posting them as the significance isn't necessarily clear to everyone.
Quoting gnomoneey
the trendline that was drawn acts as a median support and resistance....once the candle goes below it, it will drop and rise towards the tl and if it doesnt break then drop again. once it stays above then it becomes support....so right now it it above so chances it will go up then get attracted again to tl for support....does it make sense now
yes that much i guessed ..... yes it makes sense ... tks

will it be like this till FOMC ?
Quoting KADC
.

To expand on your comment though, there are a lot of charts being posted that could benefit from more commentary from the people posting them as the significance isn't necessarily clear to everyone.
hear ! hear !

..... looking back , a few of my latest charts are guilty as charged ...
thought the simple MAs and indicators were obvious and self-explanatory ....
anyway , will keep ur suggestion in mind next time i post charts

Quoting TheArcher
Simple Harmonic Pattern

That's the basic concept - it gives an idea of an area of likely retracement, though I would not suggest using it in isolation...... A further refinement is the use of the P as detailed above

beeb
similar with sliver.

never forget the big chart.
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A chart helps those who can read it.
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