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Mr. Scott's Crayon Thread

  • #13,061
  • Aug 8, 2021 6:20am Aug 8, 2021 6:20am
Quoting squawk
EC Chart {image}
Hi Squawk still miss Mr S,,, what are you thoughts on gold please looking at this chart it is going down unless it breaks out of the box,,but look left,,,a nod to Mr S,,,,we can see the more unless same look, and the line through the 50 ema in both yellow ,,Cheers and Regards as ever E
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  • #13,062
  • Aug 8, 2021 6:28am Aug 8, 2021 6:28am
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  • #13,063
  • Edited Aug 10, 2021 2:01am Aug 9, 2021 8:39pm | Edited Aug 10, 2021 2:01am
Quoting elbert3
{quote} Hi Squawk still miss Mr S,,, what are you thoughts on gold please looking at this chart it is going down unless it breaks out of the box,,but look left,,,a nod to Mr S,,,,we can see the more unless same look, and the line through the 50 ema in both yellow ,,Cheers and Regards as ever E{image}
Hi Elbert, yeah it would be good to see Scotty around some time but suspect hes doing other things these days.

GOLD has been a frustrating trade for the last few years or so. My best trade came in Silver when the ratio with Gold had pushed out to extremes. I have had a few trades that looked liked they were getting a start the last couple of months only to have them return and drop me out at BE.

Long term strong level 1790ish and 1530ish

I have these charts and your levels both hit the long term areas well. Big break down yesterday to the lower end and may be a recovery here after capitulation from yesterday. I think if it breaks through here then 1500ish would be a strong buy.

All the best buddy.
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  • #13,064
  • Aug 10, 2021 11:14am Aug 10, 2021 11:14am
Quoting squawk
{quote} Hi Elbert, yeah it would be good to see Scotty around some time but suspect hes doing other things these days. GOLD has been a frustrating trade for the last few years or so. My best trade came in Silver when the ratio with Gold had pushed out to extremes. I have had a few trades that looked liked they were getting a start the last couple of months only to have them return and drop me out at BE. Long term strong level 1790ish and 1530ish I have these charts and your levels both hit the long term areas well. Big break down yesterday to the...
Hi Squawk thanks for the reply but it answered itself with the big sell on sunday night ,which i was on and if you see the chart it hit a big 61,8 fib where LOL Mr Soott would of had his tp i did not catch all but i bought into the trade and tp ai 1737 were i now have a sell,target 1550 and wait for it 1375 , now that would be a good buy,, i know you trade metals , look at the month chart platinum , let me know if you see doji for a good possible buy,,thanks again GGL and regards E
  • #13,065
  • Aug 10, 2021 11:17am Aug 10, 2021 11:17am
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Quoting squawk
{quote} Hi Elbert, yeah it would be good to see Scotty around some time but suspect hes doing other things these days. GOLD has been a frustrating trade for the last few years or so. My best trade came in Silver when the ratio with Gold had pushed out to extremes. I have had a few trades that looked liked they were getting a start the last couple of months only to have them return and drop me out at BE. Long term strong level 1790ish and 1530ish I have these charts and your levels both hit the long term areas well. Big break down yesterday to the...
the 161 ext mmm i have GU target 2450 area so it could lol ????? be possible,, then big up to 6500 in a years time,, the avitar box has a gap at 6500 lol,,its been there years now,, so never chase gaps ,,regards E
  • #13,066
  • Aug 12, 2021 1:04am Aug 12, 2021 1:04am
Quoting elbert3
{quote} Hi Squawk thanks for the reply but it answered itself with the big sell on sunday night ,which i was on and if you see the chart it hit a big 61,8 fib where LOL Mr Soott would of had his tp i did not catch all but i bought into the trade and tp ai 1737 were i now have a sell,target 1550 and wait for it 1375 , now that would be a good buy,, i know you trade metals , look at the month chart platinum , let me know if you see doji for a good possible buy,,thanks again GGL and regards E
Hi Elbert, I agree with you and think Platinum is undervalued at the moment, turning and testing extended lows. For me it represents good buying opp at the moment above gold.

https://www.tradingview.com/chart/wXbKYT4C/
  • #13,067
  • Aug 12, 2021 1:19am Aug 12, 2021 1:19am
Quoting squawk
{quote} Hi Elbert, I agree with you and think Platinum is undervalued at the moment, turning and testing extended lows. For me it represents good buying opp at the moment above gold. https://www.tradingview.com/chart/wXbKYT4C/
morning ,,well if your in it good luck i have a small trade in it,,regards
  • #13,068
  • Aug 12, 2021 1:53am Aug 12, 2021 1:53am
Quoting squawk
{quote} EG may be coming into an end taken all out here and just waiting. Trade doe not really have any edge at the moment. {image} {image}
EG was a great short trade in 2021 and now EG moving into an area thats looking interesting for possible longs.

https://www.forexfactory.com/attachm...1&d=1616481812
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  • #13,069
  • Aug 15, 2021 2:24am Aug 15, 2021 2:24am
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morning just thoughts on this might be a bit early for a trade on the small tl or see how it goes around this area . Long or shorts but it’s been in the new now as it could take over Bitcoin in the long run .?! So a nice confirm her could be a good in or for a retrace and look back again once the levels and with a fib .. regards E
  • #13,070
  • Aug 16, 2021 3:45am Aug 16, 2021 3:45am
Quoting elbert3
{image}{image}{image}morning just thoughts on this might be a bit early for a trade on the small tl or see how it goes around this area . Long or shorts but it’s been in the new now as it could take over Bitcoin in the long run .?! So a nice confirm her could be a good in or for a retrace and look back again once the levels and with a fib .. regards E
Nice trade E.
  • #13,071
  • Aug 18, 2021 1:59pm Aug 18, 2021 1:59pm
Holding my longs in gold here but a key area for reversal 1790 - 95
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  • #13,072
  • Aug 18, 2021 2:06pm Aug 18, 2021 2:06pm
EU Couple of areas I like the repurchase of Euros.
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  • #13,073
  • Edited 2:32pm Aug 18, 2021 2:19pm | Edited 2:32pm
USD/CAD and Crude
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  • #13,074
  • Aug 18, 2021 2:23pm Aug 18, 2021 2:23pm
Quoting squawk
Coffee all out one of my best trades for the year. Most soft commodities have put gold to shame. {image} {image}
Coffee has no directional advantage now.
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  • #13,075
  • Aug 18, 2021 2:27pm Aug 18, 2021 2:27pm
NATGAS is another to keep an eye on. normally lags crude moves. Looks like maybe another possible flush-out move to upside is needed.
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  • #13,076
  • Aug 21, 2021 12:58am Aug 21, 2021 12:58am
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[quote=squawk;13673208]Holding my longs in gold here but a key area for reversal 1790 - 95 {image} {image} {image} {image} {image}[/morning . In short on gold and look at my ethusd I will do a full chart later , still in bed now lol regards
  • #13,077
  • Aug 21, 2021 1:00am Aug 21, 2021 1:00am
https://www.dailyfx.com/forex/techni...ly-Losses.html Might find some interesting read
  • #13,078
  • Edited 4:54pm Aug 21, 2021 4:29pm | Edited 4:54pm
Quoting squawk
NATGAS is another to keep an eye on. normally lags crude moves. Looks like maybe another possible flush-out move to upside is needed. {image}
Hi, NATGAS looks as if its about to start a new trend.

this is what i can see with possible targets.

we have what seems to be a confirmed Marubozu candlestick.

The last time a Marubozu candlestick formed was 1 Nov 2020 and afterward NATGAS moved DOWN +-17% to its 50 week ema . The uptrend from 28 June 2020 preceding the candle formation was +-66%. The uptrend starting from 11 April 2021 which ended at the current candlestick formation on 15 august 2021 was +-43%.

This time around the distance to its 50 week ema is +-25% below... only time will tell if it will behave in a similar way it has in the past.

daily chart and possible targets on the 4HR.

A sign of relative weakness- the daily RSI is below the 50line and it recently failed to close below its daily 50ema.

possible targets on the 4HR - previous resistance likely to act as support -2 thin black lines are +-12 and 18% below.

The thick green line is the +- 25% current position of the weekly 50ema.

I have a Strong feeling it will break the support line it tested on Thursday which coincidentally is its 50ema too.

i will sell some NATGAS next week just not sure of an appropriate stop loss.
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Trend_Masters
  • #13,079
  • Aug 30, 2021 12:19am Aug 30, 2021 12:19am
Quoting squawk
NATGAS is another to keep an eye on. normally lags crude moves. Looks like maybe another possible flush-out move to upside is needed. {image}
Flush out GAP up in crude. This area def warrants a look for shorts. But could bounce around here I think.
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  • #13,080
  • Edited Sep 1, 2021 2:28am Aug 31, 2021 11:38pm | Edited Sep 1, 2021 2:28am
Quoting squawk
AN nice setup to wait for if it gets there. {image}
AN moving down into zone. Things to keep in mind are that AUS's main states have been in lockdown and quite possible next figures to come out of AUS will be negative and NZ is expected to be the first to raise rates so their lockdown figures will affect their currency more than others. This could be a slow burn back to 105 - 106 over the coming months with a possible downside. Scaling in for a long trade.
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