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Good Thanks, would love to see some charts from you....missing those charts from u.



Quoting XTrade
Hey there!
I'm well, Thanks - hope everyone is well going into the Holiday's and New Years! Was just taking a bit of a break for end of year.
But, been meaning to make some end of year posts.
How bout yourself?

Some of this is also profit taking now..... End of year position squaring.
happy holidays



Quoting XTrade
Nothing is ever textbook with these patterns, or at least rarely. pulling up charts.
ahdts
whats happen will be if im open position buy @1649 ?
whats is your predict ?


Quoting XTrade
Was enjoying a little end of the year break and just riding some positions until today.

Gold is getting hammered due to news the past couple days, today it looks like the US GDP crushed it.

My analysis for the potential cup and handle on the weekly looks like it might be potentially shot now....


At least if she could have stayed around 1700 till after the new year it might have been ok.

The only good part of this is buying physical for cheap.

Silver loses the 30 handle and about 2 bucks in 3 days! Y I K E S!!!!!!

Time to post a chart. and...
ahdts
I know I said I wasn't going to post again this year but I'm sure some people are in deep sh#t today....

SI 240 Immaculate ABCD:

http://www.screencast.com/t/VXPBW2zbDpW


SI 240 note how the likely stops were fished:

http://www.screencast.com/t/PhzY3hvJs0b6


GC 240:

http://www.screencast.com/t/x4cSp8FG


Happy Hols once more

beeb

And please DO NOT REPOST THESE CHARTS.....
ok thanks






Quoting beeb
I know I said I wasn't going to post again this year but I'm sure some people are in deep sh#t today....

SI 240 Immaculate ABCD:


SI 240 note how the likely stops were fished:



GC 240:



Happy Hols once more

beeb

And please DO NOT REPOST THESE CHARTS.....
ahdts
Quoting Fizie
manipulated?? wow... huhuh thanks for the clarification sir..
Well when I said manipulated I was actually refering to the price and not literally the handle. Either way I am just speculating. What XT said about patterns rarely being textbook is a point worth remembering.

BTW Merry Christmas and Happy Holidays to all those concerned.
Education has its reward, ignorance has its price.
Quoting ahdts
ok thanks

errm ....... care to share what u understood from his charts .... which direction is it pointing to ?
Hold it into the new year with a low position size.

Working on a chart.

Quoting ahdts
whats happen will be if im open position buy @1649 ?
whats is your predict ?
GOLD & SILVER - Learning, Day Trade, Long Term, Discussion, Fundies, Techs
Quoting KADC
I hope you had the good sense to close this position before it dropped another $15 from where it was when you made this post. What was your reasoning behind opening a long at $1681?
I had closed the position before losing all money. Any how I will be come back soon with great passion.

I would like to narrate a few reason of my failure, although it is not appropriate forum but it may help to other and also I will review it help me to remove my deficiency.

1. Emotion: when ever market was against me I became emotional and purchased more and more instead of closing position.

2. Fair of failure: In my broker demo accounts I triplicate the initial investment within one month, and it happened two or three time, but with my real capital though I had good reason that marked would go positively but I was reluctant so could not make money.

3. Not obtaining the advice from expert: I have joined this forum on the day when my ship sunk.

4. Not using the stop loss limit

I would also like to share my strategy and their out come

Strategy 1: my firs strategy. open and closed the position on same day for few margin ( I left it because it was giving me low return)
Strategy 2:waiting that marked went at low then purchased and later on sold ( it was good strategy but due to my emotional behavior i could not continue)
Strategy 3: open position and wait for good time either it went worst but wait.( My last strategy of losing wealth)

Other expert kindly comments if they think some good advice in my point of view Future can be predicted but we are unpredictable

regards
Looks like we are on a weekly TL. I am looking at the possibility of the cup and handle panning out, but it looks as
though right were it was supposed to shoot up it shot down, on pos. US news and end of the year profit taking and position squaring.

Seems the USDX - Swissy and Gold all rose today, oil and indicies south.
GOLD & SILVER - Learning, Day Trade, Long Term, Discussion, Fundies, Techs
it is at times like this that makes one wonder the reliablity of the technical analysis and the chart patterns.

if it is manipulated , how far to trust the TAs ?
Quoting kshahzad
I had closed the position before losing all money. Any how I will be come back soon with great passion.

I would like to narrate a few reason of my failure, although it is not appropriate forum but it may help to other and also I will review it help me to remove my deficiency.

1. Emotion: when ever market was against me I became emotional and purchased more and more instead of closing position.

2. Fair of failure: In my broker demo accounts I triplicate the initial investment within one month, and it happened two or three time, but with my...
I have same long position but @ 1697 ... but still didnt close ... I have hedged the position by selling @ 1684 ... I will wait untill price drops under 1635 to close the short position ... price will move up again ... next month ... and thats for sure
let the chart to be your chauffeur ... -Forexmnstr-
  • KADC
    Joined Apr 2012
Quoting forexmnstr
I have same long position but @ 1697 ... but still didnt close ... I have hedged the position by selling @ 1684 ... I will wait untill price drops under 1635 to close the short position ... price will move up again ... next month ... and thats for sure
I had $1635 as a target as well but moved it up to $1637.50 for Feb GC, just above Thursday's low. I may place a short at $1663ish, the confluence of the 38.2% retracement of the fall since Tuesday and the 61.8% retracement of Thursday's fall if gold is still around that level when the European session opens Sunday night. I'll use a trailing stop rather than an exit target in case, like last year, we get a sudden spike down past $1635 (to be followed by an equally sudden spike up).
http://www.kingworldnews.com/kingwor...w_Maguire.html

beeb
  • KADC
    Joined Apr 2012
Quoting beeb
http://www.kingworldnews.com/kingwor...w_Maguire.html

beeb
Here's the link to part 2:

http://www.kingworldnews.com/kingwor...__Part_II.html
Looks like for xmas period gold could go higher, to 1668 level. Sellof was the reaction to fiscall cliff progress, and nothing happened. Also here is big risks in egypt, earthquaqe possibility and many reasons to risk aversion.
  • KADC
    Joined Apr 2012
I have an order to short Feb GC from $1662. In addition to the confluence I mentioned 3 posts ago, it is also the 50% retracement of the full move from May's low to October's high. Another equal step down would hit roughly $1620 though I don't have anything else coinciding with that level. $1630, $1600, and $1585 are more significant support targets on the daily chart and we'll just have to wait until the 27th to see how low the banks are willing to push gold before they buy it back. Of course, there's no guarantee of a repeat of what happened last year but to my way of thinking it seems likely.

Attached Image (click to enlarge)
Click to Enlarge Name: gold 1 hour.jpg Size: 477 KB
Quoting KADC
I have an order to short Feb GC from $1662. In addition to the confluence I mentioned 3 posts ago, it is also the 50% retracement of the full move from May's low to October's high. Another equal step down would hit roughly $1620 though I don't have anything else coinciding with that level. $1630, $1600, and $1585 are more significant support targets on the daily chart and we'll just have to wait until the 27th to see how low the banks are willing to push gold before they buy it back. Of course, there's no guarantee of a repeat of what happened...
Could you share us your trading strategy, how you predict the market?

regards
  • KADC
    Joined Apr 2012
Quoting kshahzad
Could you share us your trading strategy, how you predict the market?

regards
I post my thoughts about the market and my charts fairly regularly, as do many others, so if you're new to this forum you should read some of the older posts. For this specific position you don't have to go back very far.

RSI on the five minute chart just broke below the support line and it's bounced off the resistance line on the hourly chart so gold it looks like it may be turning around at $1666; however, that doesn't correlate to any of my trendlines other than as minor resistance nor any Fibonacci levels so I'm out if it breaks above $1666.
What is happening ... gold is rising back ... retracing back to 1700 I guess ... guys just close your short positions right away as i did
let the chart to be your chauffeur ... -Forexmnstr-
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