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  • #174,321
  • Dec 18, 2009 3:28pm Dec 18, 2009 3:28pm
Quoting SkyzerFX
"Gold has bounced decently today...Importantly, it will close well above the top of the cloud,
which open higher to start next week at 1098.50. Had it closed below 1098.50, it had the potential
to open inside the cloud to start next week, suggesting further weakness ahead. That no longer seems
likely and instead suggests some corrective potential higher. The Tenkan line is up at 1132.06.
On the day, gold looks to be posting a long-legged and that's another indication of a potential
reversal/correction of recent weakness."

1.43+ holds after...
Ok can we stop referring to gold, this is a currency forum. You need currency to buy gold, gold is not god. It will not feed you stop the hype around it. Other commodities such as wheat, are better as they are depressed on historic basis.
  • #174,322
  • Dec 18, 2009 3:32pm Dec 18, 2009 3:32pm
Quoting lloydblankfe
Ok can we stop referring to gold, this is a currency forum. You need currency to buy gold, gold is not god. It will not feed you stop the hype around it. Other commodities such as wheat, are better as they are depressed on historic basis.
Donīt mean to be rude but skyzer is just referring to gold because of correlation reasons. If you read through the Aussie-Thread, you will find people referring to gold even more often.

So it is not the wrong thread for him :-)

Happy Holydays!
  • #174,323
  • Dec 18, 2009 4:21pm Dec 18, 2009 4:21pm
Quoting lloydblankfe
Ok can we stop referring to gold, this is a currency forum. You need currency to buy gold, gold is not god. It will not feed you stop the hype around it. Other commodities such as wheat, are better as they are depressed on historic basis.

You need gold to make currency.
Traders are smartasses
  • #174,324
  • Dec 18, 2009 5:53pm Dec 18, 2009 5:53pm
Well, I would not get too excited about this little run to close the day...that was just short covering to close the week.
  • #174,325
  • Dec 18, 2009 6:03pm Dec 18, 2009 6:03pm
Quoting Matt99
A hammer might be closing on the daily..Is it valid?
Not necessarily, because this is the end of the week, the downtrend breakout was this week, and the fundamentals are shaky right now in many areas. This can be interpreted as market indecision depending on what angle you approach the issue from.
  • #174,326
  • Dec 18, 2009 6:53pm Dec 18, 2009 6:53pm
Quoting 4rexLady_de
Donīt mean to be rude but skyzer is just referring to gold because of correlation reasons. If you read through the Aussie-Thread, you will find people referring to gold even more often.

So it is not the wrong thread for him :-)

Happy Holydays!
Over past several decades only 15percent of golds performance is tied to value of dollar, according to analysts
  • #174,327
  • Dec 18, 2009 7:23pm Dec 18, 2009 7:23pm
Quoting Matt99
A hammer might be closing on the daily..Is it valid?
No hammer, if anthing is a Doji.
  • #174,328
  • Dec 18, 2009 7:37pm Dec 18, 2009 7:37pm
Quoting wwwin
Well, I would not get too excited about this little run to close the day...that was just short covering to close the week.
I think there was more than short covering involved. When they paint the charts up 20 pips after the close, you know somebody has something valuable in the vice.. Then again, with so little commercial involvement in the market at this time of the year, the trading desks can earn their Christmas bonus without upsetting the cart.

Also, several brokerages seemed to have taken major long positions, specially in cable. I recieved a couple of unsolicited recomendations today supporting that position. On was a straight long cable, which was ok. The other was a suicidal position; They recomended short GBP at 1.6202, with a stoploss at 1.6250 and a TP back at today's low??? Doh!
Ah Luv the smell of a good prediction in the mornin!
  • #174,329
  • Edited 1:02am Dec 19, 2009 12:14am | Edited 1:02am
Morning to all , hope done well last week.

Thanks to nAVIN2007 showing tl in monthly chart as seen before going to bed last night . was a nice temporary stop for the week.

So also checking the monthly chart if seen anything .Price just entered a congestion zone between 1.4337 to 1.3739 and retraced to exactly the entry level.Do not see much to back again but 1.4375 most probable & even to 1.4405/1.4457 not impossible .
Anyway price should reach 1.3739 ( arround 50% fib) for max retracement or wave b of great A down having max stall arround 38.2% fib 1.41 at the middle.
and nothing to worry as shorters like me now.
thanks ,
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #174,330
  • Dec 19, 2009 2:24am Dec 19, 2009 2:24am
Quoting TaoTrader
Not necessarily, because this is the end of the week, the downtrend breakout was this week, and the fundamentals are shaky right now in many areas. This can be interpreted as market indecision depending on what angle you approach the issue from.
Thanks for your response! I am a newbie so I'm not approaching any angle. But it has going downhill for som time and a hammer usually mean a reversal. That is why I asked if it was valid ,to get response from someone with more experience. Maybe the daily will go upp but the monthly and weekly still going down?
  • #174,331
  • Dec 19, 2009 2:33am Dec 19, 2009 2:33am
Quoting wwwin
No hammer, if anthing is a Doji.
Yeah I see it now...strange it closed as hammer with my broker...So what does a doji mean ,up or down in the daily?
  • #174,332
  • Dec 19, 2009 2:47am Dec 19, 2009 2:47am
Quoting The Fool
Speaking of spikes - do you trade the CHF pairs? What was up with that 100-pip spike short on E/C today? And do you think the SNB will come to call for one the other way?

SNB will probably come in at 1.4750-4800 area....2ndary bullish butterfly pattern there for me.....EU will probably sink to 4150-4180 200 sma on daily....i thought 4030 but thats probably too extreme
it had seemed so obvious at the time
  • #174,333
  • Edited 7:23am Dec 19, 2009 5:07am | Edited 7:23am
Important points ...
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Discipline + Patience - Fear - Greed = Success
  • #174,334
  • Dec 19, 2009 5:36am Dec 19, 2009 5:36am
Quoting arezab
Important points ...
nice, which one is the reference line for the slope?

on the first chart i guess the top, but the second
Invincibility lies in the defence, the possibility of victory in the attack
  • #174,335
  • Dec 19, 2009 7:15am Dec 19, 2009 7:15am
Quoting silverheat
nice, which one is the reference line for the slope?

on the first chart i guess the top, but the second
All the same ... they look different in angle just because of different TFs Actually the main reference line for both chart is the 4th and 5th line in second chart from top ... the ones in the middle.
Discipline + Patience - Fear - Greed = Success
  • #174,336
  • Dec 19, 2009 8:56am Dec 19, 2009 8:56am
Quoting arezab
All the same ... they look different in angle just because of different TFs Actually the main reference line for both chart is the 4th and 5th line in second chart from top ... the ones in the middle.
thanks! keep it up
Invincibility lies in the defence, the possibility of victory in the attack
  • #174,337
  • Dec 19, 2009 9:02am Dec 19, 2009 9:02am
Quoting arezab
Important points ...
very good chart prepared,very impressive.keep it up.
  • #174,338
  • Dec 19, 2009 9:31am Dec 19, 2009 9:31am
Quoting arezab
All the same ... they look different in angle just because of different TFs Actually the main reference line for both chart is the 4th and 5th line in second chart from top ... the ones in the middle.
have u named ur system as prime on myfxbook?
  • #174,339
  • Dec 19, 2009 9:50am Dec 19, 2009 9:50am
What will you be looking? As i will be watching this area......
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  • #174,340
  • Dec 19, 2009 10:17am Dec 19, 2009 10:17am
I am following EURUSD and AUDUSD and both have completed the first drop according to my time cycles. They both should rally for a few days; the AUDUSD has a cycle high turn due on the 24th Dec, but i think it could come a day earlier.

EURUSD is due on the 28th, so i will chase this up on the longs until the 24th, then look at signals to start closing out and reversing.

The markets have showed their hand now on my cycle analysis and we should drop into March.
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