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Mr. Scott's Crayon Thread

  • #10,441
  • Sep 26, 2017 4:20am Sep 26, 2017 4:20am
Quoting Lalu
{quote} Putting a few levels on the monthly. {image}
Big move Ben. That would help with the inflation story.

I like 60 for the first test then I think 75 - 80 is there if it breaks over coming months. I'm long from 48 but looking to add in at 49 - 50 on any pullback. If it falls back below 48 again then I'm out.
  • #10,442
  • Sep 26, 2017 4:24am Sep 26, 2017 4:24am
Quoting squawk
{quote} Nice bearish close. {image} {image} {image} {image}
Taken half out from this move. Run the range and running into the price.
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  • #10,443
  • Sep 26, 2017 4:57am Sep 26, 2017 4:57am
Quoting squawk
The last few weeks have seen substantial sell-off on Iron Ore contracts and Aussie is looking interesting but thinks downside will be capped to that 77 ish area. Chart is IO futures and Aussie. Steel has yet to roll over if it will. {image} {image} {image} {image}
Some thoughts AU if we get some momentum on the downside. Although think it will be more supported than most medium term.
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  • #10,444
  • Sep 26, 2017 7:05am Sep 26, 2017 7:05am
Quoting Lalu
{quote} Putting a few levels on the monthly. {image}
lot of room if can break 100...
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #10,445
  • Sep 26, 2017 7:10am Sep 26, 2017 7:10am
Quoting squawk
{quote} An important area for the EU, remaining short, no reason to get out yet. {image} {image}
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #10,446
  • Sep 26, 2017 9:25am Sep 26, 2017 9:25am
hi guys,

Gold: on my last short trade from 1317 was stopped out yesterday on NK news at 1297. Opened short again at 1310 today . lets see how much it gives. As long as it stays below 1321 and no unpredictable NK or Yellen comments ,i m expecting this for a ride down for first level at 1288 ,once that gives away then 1277.

https://www.tradingview.com/x/lZb7Pjer/
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  • #10,447
  • Edited 2:42pm Sep 26, 2017 2:22pm | Edited 2:42pm
10-year controlling GOLD and Yen trades for me at the moment. The chart is 10-year and Yen, at an important junction. Lower is still there but thought it may have been there by now if it was going to. Surprising that the bond bulls have not been able to close that Gap yet! but will set up a nice flag pattern if it does.
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  • #10,448
  • Sep 26, 2017 2:24pm Sep 26, 2017 2:24pm
Yen Gold
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  • #10,449
  • Sep 26, 2017 2:25pm Sep 26, 2017 2:25pm
10 year and EU. Euro giving first signs of pairing positions and possible momentum shift.
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  • #10,450
  • Sep 27, 2017 1:11am Sep 27, 2017 1:11am
Quoting Mr. Scott
Peso {image}
Maybe Scott. I've been in this trade for too long now let's hope it goes this time. The gain this year seems to be overstretched but honestly thought it would be a faster rebound. 2 weeks and counting now.
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  • #10,451
  • Sep 27, 2017 2:12am Sep 27, 2017 2:12am
eu

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It's all about bucks, kid. The rest is conversation.
  • #10,452
  • Sep 27, 2017 2:23am Sep 27, 2017 2:23am
hi guys,

Gold Update: so far so good ,trade is moving in the expected direction. if this breaks 128x then we may have more down 1277-1272.

Squak/Lalu/Scott: Squak nice charts on gold by you. Thanks for sharing those other charts you look prior to gold trade. I had been trading gold for almost a decade. The other chart i see for gold trade/direction is Gold/Silver Ratio . Its (gold and gold/silver ratio) is inversely co-related. Let me know if you want to see chart,i will share it.

Nowadays trading gold is very risky ,its reacting a lot to fundamentals specially the ones from NK. Before I used to position trade gold but it was not working out(profit wise i.e leaving the cash on table) for me. so now the strategy i use on gold is intraday or small swings based. Since gold's daily average move is 8-15$ move ,so i try to grab as much as i can irrespective of direction and thats working out way better than the position trades. For example in a 30$ swing ,i may catch 40-50$ move.

Thanks again guys for great content.

https://www.tradingview.com/x/9YgWZopf/
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  • #10,453
  • Sep 27, 2017 2:30am Sep 27, 2017 2:30am
Quoting Lalu
{quote} Tasty hors d'euvre. And a quick sorbet. Now bring on the main course. {image} {image}
Marigolds off, fingernails sharpened. Maybe makes her move today.

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It's all about bucks, kid. The rest is conversation.
  • #10,454
  • Sep 27, 2017 3:10am Sep 27, 2017 3:10am
Quoting ssaqeel
hi guys, Gold Update: so far so good ,trade is moving in the expected direction. if this breaks 128x then we may have more down 1277-1272. Squak/Lalu/Scott: Squak nice charts on gold by you. Thanks for sharing those other charts you look prior to gold trade. I had been trading gold for almost a decade. The other chart i see for gold trade/direction is Gold/Silver Ratio . Its (gold and gold/silver ratio) is inversely co-related. Let me know if you want to see chart,i will share it. Nowadays trading gold is very risky ,its reacting a lot to fundamentals...
My feeling is that we're at an important juncture here since the main three I look at are lining up together Gold 1290ish, eu 1.17 ish, Dax12700ish. Break those levels and they probably run imv.

Re gold, this my favourite gold stock and as you can see it's pretty accurate. They can work for each other when making decisions on one or the other. Eu/dax used to have a near perfect negative correlation which really helped make trade decisions but then all of a sudden it stopped working. I blame the Canadians and Trump of course. If it wasn't for Trump there'd be no unhappiness in the world and we could all be as one big blob. Little people will play pro basketball and cats will bark. Except for the feckin Canadians, G excluded. Although Scott may disagree on the last bit.

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It's all about bucks, kid. The rest is conversation.
  • #10,455
  • Sep 27, 2017 3:23am Sep 27, 2017 3:23am
Quoting Lalu
{quote} My feeling is that we're at an important juncture here since the main three I look at are lining up together Gold 1290ish, eu 1.17 ish, Dax12700ish. Break those levels and they probably run imv. Re gold, this my favourite gold stock and as you can see it's pretty accurate. They can work for each other when making decisions on one or the other. Eu/dax used to have a near perfect negative correlation which really helped make trade decisions but then all of a sudden it stopped working. I blame the Canadians and Trump of course. If it wasn't...
lol damnit me 2 Canadian.

Well for co-relation theory its mostly on n off type. thats the reason i try to grab as much i can of that daily gold move.
  • #10,456
  • Sep 27, 2017 3:48am Sep 27, 2017 3:48am
Quoting ssaqeel
{quote} lol damnit me 2 Canadian. Well for co-relation theory its mostly on n off type. thats the reason i try to grab as much i can of that daily gold move.
No offence ssaqeel I like Canadians really. It's that I've been slapped by Ucad so many times and just need someone to blame, other than myself.
It's all about bucks, kid. The rest is conversation.
  • #10,457
  • Sep 27, 2017 5:07am Sep 27, 2017 5:07am
[quote=squawk;10333057]

Squawk: i see that you are expert in AU n NU . Any trade plan for today's NZD cash rate?
https://www.tradingview.com/x/FRMcsKx7/
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  • #10,458
  • Sep 27, 2017 5:48am Sep 27, 2017 5:48am
[quote=ssaqeel;10333959]
Quoting squawk
Squawk: i see that you are expert in AU n NU . Any trade plan for today's NZD cash rate? https://www.tradingview.com/x/FRMcsKx7/ {image}
Ssaqeel Expert! would use that term lightly. Avoiding small errors as I sweep to my grand fallacy.

In all seriousness, I closed out most of my orders and have set limits similar to what you have on your charts. Don't expect much as far as shocks in verbiage from RBNZ but if we get a decent pullback I have some there. My extension target is 68 longer terms based on continued uncertainty and closing of IR spreads in coming months.

Good luck.
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  • #10,459
  • Sep 27, 2017 7:20am Sep 27, 2017 7:20am
Quoting Lalu
eu {image}
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #10,460
  • Sep 27, 2017 7:44am Sep 27, 2017 7:44am
Quoting squawk
{quote} Maybe Scott. I've been in this trade for too long now let's hope it goes this time. The gain this year seems to be overstretched but honestly thought it would be a faster rebound. 2 weeks and counting now. {image} {image}
she big heavy chart, but nice weekly/monthly......
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The world you desire can be won. It exists.. it is real.. it is possible..
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