GU looks like it has momentum to reach 1.435 before resuming the downtrend, the candle for today looks decently healthy (for the bulls that is). and i also think the oscillators have to reset a bit more before diving again.

looks like usd/chf is about to resume its upmove after pulling back to the 50% fib line of the previous move, where coincidentally, is also very close to a support level. the close is still not in but it looks like a doji will come out today.

i didn;t say he was wrong, quite the contrary actually.

hussin, its not that your analysis is mistaken, so dont be so hard on yourself. economic and environmental factors changed, especially oil and gold prices, which invalidated your analysis.

silverheat: i think the mat hold pattern requires very specific things, like the 3 middle candles being inside the range of the first and candles have to be a certain colour. but i think the logic behind the mat hold pattern is present here. market ...

looking at the monthly chart, it looks like a triangle is forming. it could break either way, but i think we may see a nice bounce to 1000-1050 before heading lower. market is severely oversold and 800 seems to be holding so far.

you may be right about the sp being overbought. it fell 5% today and ended just a hair above 800, may be the beginning of another down move after 2 days of consolidation. chances are i will open another short on the index tomorrow. but i cant help ...

its heading north with a lot of momentum at the moment, might slow down to catch its breath soon though

maybe, looks like it wants to continue the big picture uptrend

i dont think so, it just made a new high

same to you. maybe it'll hit 5114 again and we can ride it all the way back up

that exactly where i got my short too lol. so far so good!

went short at 3540 last night and woke up to a nice surprise of a 220 pip profit. i think for now the move has exhausted itself, it will probably retrace to 3385 (61% fibo level) area before heading south again

oh i see, you had a problem with me calling the candle a "hammer", thought you had a problem with my analysis. tbh, i dont pay too much attention to the names, only the candle's meaning, so that might have confused some people. so hussin, do you ...

because the hammer at that point at the chart is also known as a hanging man, for more details on the meaning of the hanging man candle see url

im looking to short GU too, but its managed to climb back above resistance which makes it scary to enter short here. everything depends on how it closes (on the daily) but at the present, this bounce seems to be running out of steam

Chart forecasts bearish conditions for gold IMHO: 1) hammer on the last day suggests trend is about to reverse and 1a) the candle occurs right under a descending trendline 1b) candle occurs right at a moving average, while the close is above this ...

im beginning to think so as well, there seems to be enough buying pressure to keep from breaking 1.20, and the fundamentals are working against CAD with oil and gold retreating today

i'm tempted to short this pair based on the bar configuration and because its at resistance, but just a heads up that the NZD trade balance is coming out today so event risk is kind of high