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  • #361
  • Oct 17, 2019 5:26pm Oct 17, 2019 5:26pm
Quoting detector
{quote} EF, will need some pretty good strong news to hit my breakup target, it's struggling to hold this position, Chinusa deal may not be enough, rate cuts together may just do it but this cannot go on for ever, how can an index have such a stellar rise and pundits talk about recession, D
I think the path of least resistance is still higher. The economic data is still decent and we're probably getting another rate cut soon. It's definitely not going to go on forever, but there's still time on the clock and for now I'm resting on the 'greater fool theory'. lol

If you look at bonds, gold, eurodollars, etc verses equities they're telling a macro different story. They're indicating a recession is coming while equities just keep marching higher. The divergence is pretty absurd if you think about it, but it happens at the end of every cycle.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #362
  • Oct 17, 2019 5:55pm Oct 17, 2019 5:55pm
Quoting Ef5
{quote} I think the path of least resistance is still higher. The economic data is still decent and we're probably getting another rate cut soon. It's definitely not going to go on forever, but there's still time on the clock and for now I'm resting on the 'greater fool theory'. lol If you look at bonds, gold, eurodollars, etc verses equities they're telling a macro different story. They're indicating a recession is coming while equities just keep marching higher. The divergence is pretty absurd if you think about it, but it happens at the end of...
TC brought this up a while back along with the phrase "The Great Unravelling" suppose those who can read the bonds/equity markets can or have a feeling/indicator over time, trouble is you never hear much, their acting before the event, we are the last to know, I find the news is the dam, this is one of my indicators, like there going to tell us the whole truth.
Pundits talking about the US being at full employment, this was a similar case before the UK recession/ banks collapse, "every boat rises in a high tide", trouble was, when it went out, it took the safe, great post Ef, this thread and others on FF see well informed, considering we're all at the coal face ourselves, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #363
  • Oct 17, 2019 6:03pm Oct 17, 2019 6:03pm
Turning in soon, away tomorrow so will miss the session, I'm getting too attached to you Guys/Gals, back the weekend though, keep the home fires burning, will keep the Dow & GJ on alert for closing, still live and not doing bad, GJ leading the way Dow as I expect may linger a little until mid Asia session, good trading all,will look in early tomorrow before the off, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #364
  • Oct 17, 2019 6:05pm Oct 17, 2019 6:05pm
Quoting detector
{quote} TC brought this up a while back along with the phrase "The Great Unravelling" suppose those who can read the bonds/equity markets can or have a feeling/indicator over time, trouble is you never hear much, their acting before the event, we are the last to know, I find the news is the dam, this is one of my indicators, like there going to tell us the whole truth. Pundits talking about the US being at full employment, this was a similar case before the UK recession/ banks collapse, "every boat rises in a high tide", trouble was, when it went...
I plan on putting on a huge short position once we get an advance-decline line divergence. It could be awhile before that happens, but that indicator has worked really well over the years and allows for low risk entries. From there I'll probably stay short 6-18 months. Trust me, I'm really eager to put the trade on but I think it is still a little too early.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #365
  • Oct 17, 2019 6:23pm Oct 17, 2019 6:23pm
Quoting Ef5
{quote} I plan on putting on a huge short position once we get an advance-decline line divergence. It could be awhile before that happens, but that indicator has worked really well over the years and allows for low risk entries. From there I'll probably stay short 6-18 months. Trust me, I'm really eager to put the trade on but I think it is still a little too early.
Keep us informed Ef for any sign of it setting up, we're all gathering pace here for keeping on the right side, only tonight, Deuce's input (appreciated ) about the cease fire and positive news outlook had me on guard,this is becoming priceless in our trading quest, eyes and ears, speak soon, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #366
  • Oct 18, 2019 12:14am Oct 18, 2019 12:14am
GJ closed for profit Dow still open for now, gold had a flurry over the rising res line but back under now,possible another attempt to push higher, speak soon all, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #367
  • Oct 18, 2019 1:12am Oct 18, 2019 1:12am
Inserted Video
persistence and determination alone are omnipotent
  • #368
  • Oct 18, 2019 10:02am Oct 18, 2019 10:02am
Dow short now closed and in profit, still away so no trading, have a good weekend everyone and speak soon,D
I don't need to be good at the game, only good enough to beat my opponent,
  • #369
  • Oct 18, 2019 10:56am Oct 18, 2019 10:56am
Quoting detector
{quote} Keep us informed Ef for any sign of it setting up, we're all gathering pace here for keeping on the right side, only tonight, Deuce's input (appreciated ) about the cease fire and positive news outlook had me on guard,this is becoming priceless in our trading quest, eyes and ears, speak soon, D
I’ll definitely keep you guys informed. Have a great weekend detector!
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #370
  • Oct 18, 2019 11:04am Oct 18, 2019 11:04am
GOLD TURNS FLAT ABOVE $1,490 AS USD REMAINS UNDER PRESSURE
18 October 2019, 19:00

 

  1. US Dollar Index dropped below 97.40 in the American session.
  2. Fed's Clarida says monetary policy is not on a preset course.
  3. Wall Street's main indexes stay in the negative territory.

After dropping to a daily low of $1,485, the XAU/USD pair staged a modest rebound during the American trading hours and turned flat on the day near $1,492. However, despite the broad-based selling pressure surrounding the USD this week, the pair struggled to gain traction as the upbeat risk sentiment on hopes of a Brexit deal made it difficult for safe-havens to find demand. Although the proposed deal is subject to the UK parliament's vote on Saturday, investors seem reluctant to price the possibility of the UK crashing out of the EU.
US Dollar Index falls for the third straight week
On the other hand, disappointing macroeconomic data releases from the US earlier in the week and the strong performance of major European currencies, such as the GBP and the EUR, caused the Greenback to suffer losses against its rivals and helped the pair limit its losses.
As of writing, the US Dollar Index was at its lowest level in nearly two months at 97.35, erasing 1% since Monday.
While speaking at an event organized by the CFA Institute in Boston on Friday, Richard Clarida, the Federal Reserve Board of Governors Vice-Chair, refrained from delivering a hawkish message and repeated that the Fed's monetary policy was not on a preset course and said that the policy decisions will be made "meeting by meeting" to put additional weight on the USD's shoulders.
Technical levels to watch for

persistence and determination alone are omnipotent
  • #371
  • Oct 18, 2019 2:42pm Oct 18, 2019 2:42pm
Inserted Video
persistence and determination alone are omnipotent
  • #372
  • Oct 20, 2019 7:20am Oct 20, 2019 7:20am
Quoting Ll1979
GOLD TURNS FLAT ABOVE $1,490 AS USD REMAINS UNDER PRESSURE 18 October 2019, 19:00 US Dollar Index dropped below 97.40 in the American session. Fed's Clarida says monetary policy is not on a preset course. Wall Street's main indexes stay in the negative territory. After dropping to a daily low of $1,485, the XAU/USD pair staged a modest rebound during the American trading hours and turned flat on the day near $1,492. However, despite the broad-based selling pressure surrounding the USD this week, the pair struggled to gain traction as the upbeat...
Hello Li, hope your well, had gold rising, on the hourly it's still there but the 4hr is still under the weather although the open tonight may gap up, if not then expect it to wane to a possible 1460, still under the 200 on the 4hr, get above this then 1530, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #373
  • Oct 20, 2019 7:45am Oct 20, 2019 7:45am
Quoting detector
{quote} Hello Li, hope your well, had gold rising, on the hourly it's still there but the 4hr is still under the weather although the open tonight may gap up, if not then expect it to wane to a possible 1460, still under the 200 on the 4hr, get above this then 1530, D
Gold is ranging at the moment. Time for some support/resistance trades . Grand master is doing well i see
persistence and determination alone are omnipotent
  • #374
  • Oct 20, 2019 7:50am Oct 20, 2019 7:50am
Quoting Ll1979
https://youtu.be/vTnbQu9DQxM
Li, have bitcoin possibly hitting around 5000, any lower 2000-3000, however think the 5000 mark is more realistic, it may not even go "that" low but the five mark is quite a big round number, still have an eye to buy, will be trying to keep out of the markets, (other than BC, if an op arises) until brexit, feel the swings could be exaggerated, making charting useless, may or may not, but we shall see, great posts as ever, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #375
  • Oct 20, 2019 7:59am Oct 20, 2019 7:59am
Quoting detector
{quote} Li, have bitcoin possibly hitting around 5000, any lower 2000-3000, however think the 5000 mark is more realistic, it may not even go "that" low but the five mark is quite a big round number, still have an eye to buy, will be trying to keep out of the markets, (other than BC, if an op arises) until brexit, feel the swings could be exaggerated, making charting useless, may or may not, but we shall see, great posts as ever, D
Weekly chart indicates a close below 7600 opens the door for 5600 area.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20191020-145437_Chrome.jpg Size: 368 KB
persistence and determination alone are omnipotent
  • #376
  • Oct 20, 2019 8:07am Oct 20, 2019 8:07am
Quoting Ll1979
{quote} Gold is ranging at the moment. Time for some support/resistance trades . Grand master is doing well i see
Yeah, would be great to see some pivot charts, have the daily on a rising support, however the indi's are at a cliff face so keeping away until clarity, Grand Master, trooping along, 2 forward, one back, more than happy, squeezed some out of the GJ and pleased on my exit, it reversed, pleased with the Dow, although it continued, a lesson here for me, anything can happen from the point of taking a profit, be content and never dwell of what could have been as it could have been a loss, thanks,D
I don't need to be good at the game, only good enough to beat my opponent,
  • #377
  • Oct 20, 2019 8:12am Oct 20, 2019 8:12am
Quoting Ll1979
{quote} Weekly chart indicates a close below 7600 opens the door for 5600 area. {image}
I had it around the same level but think the 5 mark will be too much of a magnet, feel the buyers could be thinking the same, sellers too, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #378
  • Oct 20, 2019 8:33am Oct 20, 2019 8:33am
WTI provided a good opportunity on Friday but unfortunately was getting whipped with the price until it broke, I have it a little mixed, 4hr is on a rising support line and broken through a falling res line (on the daily also) a bounce taking it to a rising res line 54.50+ in failing this 52.50, for that very reason, keeping on the sidelines, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #379
  • Oct 20, 2019 11:13am Oct 20, 2019 11:13am
Quoting detector
WTI provided a good opportunity on Friday but unfortunately was getting whipped with the price until it broke, I have it a little mixed, 4hr is on a rising support line and broken through a falling res line (on the daily also) a bounce taking it to a rising res line 54.50+ in failing this 52.50, for that very reason, keeping on the sidelines, D
Wti gives some conflicting values from both a technical and fundamental point if view.
persistence and determination alone are omnipotent
  • #380
  • Oct 20, 2019 4:15pm Oct 20, 2019 4:15pm
Bit coin gap up, a position without doubt to sell, but at some risk, the value is in the buy side, just my op, D
I don't need to be good at the game, only good enough to beat my opponent,
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