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  • #158,361
  • Nov 3, 2009 9:31am Nov 3, 2009 9:31am
Quoting NightMoves
, however taking long positions right now based on this time frame could mean heavy drawdowns before it returns to the upside, I guess that is what I was getting at....
I agree with you, but technically we're still in an uptrend. I think it's a little insane to go long at the moment, but that's just me .
  • #158,362
  • Nov 3, 2009 9:33am Nov 3, 2009 9:33am
Quoting acumen
looking heavy right now.

.4700 is psych level and near S1.

should bounce if we move up.

m
Could be. But that's a beautiful ledge formation on the 1H at the bottom of the downtrend. With MACD (1H) starting to gravitate to the short side, I'm watching to see if the ledge does, in fact break.
  • #158,363
  • Nov 3, 2009 9:34am Nov 3, 2009 9:34am
Quoting acumen
looking heavy right now.

.4700 is psych level and near S1.

should bounce if we move up.

m
also 38.2% fib
  • #158,364
  • Nov 3, 2009 9:34am Nov 3, 2009 9:34am
LTD was broken on daily chart and candle was closed on H4 below the LTD too
so bearish DV completely confirm and it turns on so I don't think to buy for EUR
some corrections to up prepare better chance for selling i think
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  • #158,365
  • Nov 3, 2009 9:35am Nov 3, 2009 9:35am
Quoting acumen
looking heavy right now.

.4700 is psych level and near S1.

should bounce if we move up.

m
Thanks. Looks like we could be moving up.
  • #158,366
  • Nov 3, 2009 9:37am Nov 3, 2009 9:37am
Quoting Mr J
I agree with you, but technically we're still in an uptrend. I think it's a little insane to go long at the moment, but that's just me .
Yes sir, absolutely the uptrend is still intact and strong, and I am looking for a confiormation that it is going to continue, but it is still nice to squeak some pips out of the smaller trend that develop within the bigger ones
  • #158,367
  • Nov 3, 2009 9:41am Nov 3, 2009 9:41am
Double bottom, is this a sign for a turnaround?
  • #158,368
  • Nov 3, 2009 9:44am Nov 3, 2009 9:44am
Well, IMHO the daily is still intact. I am bullish till it is confirmed broken, plus the 61.8 fibo is doing its job also. My charts are speaking to me. Would I listen?
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  • #158,369
  • Nov 3, 2009 9:44am Nov 3, 2009 9:44am
caution!! be aware about ending year money cash flow can make some big wave during ending month each year usually help $ demands ! is that right?!
  • #158,370
  • Nov 3, 2009 9:47am Nov 3, 2009 9:47am
Quoting SwissKinseb
anyone follow me? i move SL to Break Even
sl @ break even, change my tp @ 1.4720
  • #158,371
  • Nov 3, 2009 9:49am Nov 3, 2009 9:49am
Quoting acumen
looking heavy right now.

.4700 is psych level and near S1.

should bounce if we move up.

m
Will take a scalp around.4695, with an eye on the dow and the possible break of wedge formation.
  • #158,372
  • Nov 3, 2009 9:52am Nov 3, 2009 9:52am
Quoting NightMoves
but it is still nice to squeak some pips out of the smaller trend that develop within the bigger ones
More accurately for me would be that it saves me pips (since it temporarily lessens my longterm position).
  • #158,373
  • Nov 3, 2009 9:53am Nov 3, 2009 9:53am
Quoting TheLastCoke
Well, IMHO the daily is still intact. I am bullish till it is confirmed broken, plus the 61.8 fibo is doing its job also. My charts are speaking to me. Would I listen?
That's correct if you are a position traders. But what about other intraday and intraweek traders?
  • #158,374
  • Nov 3, 2009 9:54am Nov 3, 2009 9:54am
What a move in gold... reaching 1081+ new high
Getting it right is NOT as important as not getting it wrong.
  • #158,375
  • Nov 3, 2009 9:56am Nov 3, 2009 9:56am
Quoting investor_me
That's correct if you are a position traders. But what about other intraday and intraweek traders?
Some position traders are also swing and intraday traders.
  • #158,376
  • Nov 3, 2009 10:00am Nov 3, 2009 10:00am
Don't know what to make in this spike in gold. Anyone? Inflation hedging (ahead of rate decision)? global warfare threat? I don't understand it.
"If it was good enough for Gann, it's good enough for me..."
  • #158,377
  • Nov 3, 2009 10:01am Nov 3, 2009 10:01am
Quoting SwissKinseb
sl @ break even, change my tp @ 1.4720
My take profit is 1.4720 also!
  • #158,378
  • Nov 3, 2009 10:03am Nov 3, 2009 10:03am
Quoting Jack Herer
also 38.2% fib
that was good for 20.

m
  • #158,379
  • Nov 3, 2009 10:04am Nov 3, 2009 10:04am
Quoting Jack Herer
also 38.2% fib
Thanks for thr heads-up. Took my entry at the fib, of.4695 and exitted @ .4685 for 10 pips.
  • #158,380
  • Nov 3, 2009 10:05am Nov 3, 2009 10:05am
Quoting acumen
looking heavy right now.

.4700 is psych level and near S1.

should bounce if we move up.

m

SPY about too go green should give us enough energy to test the oo
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