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  • #396,721
  • Feb 26, 2011 12:58am Feb 26, 2011 12:58am
Hi Traders,

would like to show the actual Elliott Wave count on Gold:

With Gold lagging Silver, Gold should make a new high in the coming days.

Ideal targets fib-wise 1445, 1529 or 1547, Murrey Math-wise 1437, 1453, 1500 or 1562.


Over the last weeks it got clear, that the top was not in, because on weekly chart one was not able to count an impulse down.

And it made no sense to me at all, why Gold should be the first asset to start a big drop.
Attached Image (click to enlarge)
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  • #396,722
  • Feb 26, 2011 2:38am Feb 26, 2011 2:38am
Quoting buonvangvn
http://www.forexfactory.com/showpost...stcount=396611
I see where this trade came from, very smart move, didnt have the balls to enter the position though since a couple of rather important zones were breached.

Attached Image (click to enlarge)
Click to Enlarge Name: eu123.PNG Size: 62 KB


Either way kudos on that trade.
It also failed to make a lower low. Expecting a recovery next week actually, it did manage to take out the compression on H1
  • #396,723
  • Feb 26, 2011 2:50am Feb 26, 2011 2:50am
Trading this week was sooo easy.
Attached Image (click to enlarge)
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  • #396,724
  • Feb 26, 2011 3:24am Feb 26, 2011 3:24am
Quoting infinitus
Hi Traders,

would like to show the actual Elliott Wave count on Gold:

With Gold lagging Silver, Gold should make a new high in the coming days.

Ideal targets fib-wise 1445, 1529 or 1547, Murrey Math-wise 1437, 1453, 1500 or 1562.


Over the last weeks it got clear, that the top was not in, because on weekly chart one was not able to count an impulse down.

And it made no sense to me at all, why Gold should be the first asset to start a big drop.
Infi,what about a silver count ?

(got a lot of long positions this month ; p)
Hero calls followed by margin calls...
  • #396,725
  • Feb 26, 2011 3:33am Feb 26, 2011 3:33am
Here is my Silver Phanti.
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  • #396,726
  • Feb 26, 2011 3:36am Feb 26, 2011 3:36am
And here it is zoomed with the fibs ( Price targets ) added.
See how nice price reacts all the time TP3 being hit for retrace. combined with that divergence no wonder silver dropped back a bit.
Attached Image (click to enlarge)
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  • #396,727
  • Feb 26, 2011 3:43am Feb 26, 2011 3:43am
Quoting hutrader
And here it is zoomed with the fibs ( Price targets ) added.
See how nice price reacts all the time TP3 being hit for retrace. combined with that divergence no wonder silver dropped back a bit.
yo rebounce down ok.....but how do u rate it for further weeks /months ?
Hero calls followed by margin calls...
  • #396,728
  • Feb 26, 2011 3:58am Feb 26, 2011 3:58am
Quoting kuroro001
Maybe you are the one who'll give me a lesson of PA, but let me give me a lesson first.

Let's start with the monthly, it will be fast...
Monthly ain't over...it doesn't mean anything. Its like saying the 1h candle is hammer when its halfway from being closed....it has no credits

Now the weekly....a hammer ? hmm nope.
We either have a different chart, or a different definition of a hammer.
What i see is a bouncing candle closing off its high cause of strong supply up there.

And finally the daily...the masterpiece.
In my eyes and in...
yes kuroro,month is not over jet but i expect personaly not a big move on monday,and also not a big down move,i think we need to break 3860 to reach 1.4,from there maybe a big down move...
Attached Image (click to enlarge)
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Money is made by sitting, not trading. Jesse L. Livermore
  • #396,729
  • Edited 4:43am Feb 26, 2011 3:59am | Edited 4:43am
Well that's the daily. According to Andrews it is pretty strong and very high since we deviated from the medium line. The question now is, this the 1 hour chart. You see that huge drop out but suddenly buyers appear. I've highlighted the red box what for me has to stay down for further downside move. But this is what makes the market :-) Fontu sees it different than you or me.
My best guess is to wait and see for monday, the bias short term is down. You can see the down targets. If break and close higher than upside targets are there as well on the chart. Usually take short in the 50 to 62 retracement.That 76.4 and W is my ultimate where I let go the shorts if taken in the 50~62 retracement. 4 out the 5 times works. I use pitch only because it's extreme high accuracy and hit rate what is in the 80%.
What I sometimes see is that it goes from TP1 reverses, and then the other side TP1 on fib.
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  • #396,730
  • Feb 26, 2011 5:18am Feb 26, 2011 5:18am
Militants bomb Iraq's largest oil refinery

http://www.msnbc.msn.com/id/41791987...deastn_africa/
  • #396,731
  • Feb 26, 2011 5:35am Feb 26, 2011 5:35am
Quoting mokonni
Militants bomb Iraq's largest oil refinery

http://www.msnbc.msn.com/id/41791987...deastn_africa/
hmmm this might decrease the supply of oil = price gettin higher....anyway lets c....

will have a lot of fights and struggles in the near east comin weeks.

Phanti.
Hero calls followed by margin calls...
  • #396,732
  • Feb 26, 2011 5:40am Feb 26, 2011 5:40am
hutrader,

Is your Fib indicator posted @ post #396772 avaliable to share. I like its layout on the chart. If not thanks anyway.

____________________
  • #396,733
  • Edited 7:23am Feb 26, 2011 7:07am | Edited 7:23am
lets c what tues gmt open says. (Monday close) #396767
dont count count your chickens before they are shitting on your porch.
Attached Image (click to enlarge)
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those who can, do. those who cant, talk about those who can
  • #396,734
  • Feb 26, 2011 7:08am Feb 26, 2011 7:08am
Quoting acetrader
hutrader,

Is your Fib indicator posted @ post #396772 avaliable to share. I like its layout on the chart. If not thanks anyway.

____________________
just found this one on the mq4 website here's the link, see if you like it and if so download,,,, it's free and i have no affiliation.
just thought you'd like to know
oops forgot link
http://codebase.mql4.com/7290
  • #396,735
  • Feb 26, 2011 7:14am Feb 26, 2011 7:14am
Quoting PhAnTi'
hmmm this might decrease the supply of oil = price gettin higher....anyway lets c....

will have a lot of fights and struggles in the near east comin weeks.

Phanti.
its a refinery.. its gonna affect the ones using the distillates. find out who is using iraq distillates. it may not be a big deal. the ones buying crude may not be affected. if its just for iraq's use, it may not matter.
those who can, do. those who cant, talk about those who can
  • #396,736
  • Feb 26, 2011 7:20am Feb 26, 2011 7:20am
Quoting gatorinla
lets c what tues gmt open says. (Monday close)
on the charts..
Attached Image(s) (click to enlarge)
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those who can, do. those who cant, talk about those who can
  • #396,737
  • Edited 7:41am Feb 26, 2011 7:21am | Edited 7:41am
hi everyone,

most of you probably know about this, if so just consider it a friendly reminder. There is an inverted H&S on the daily(also known as inverted 3 Buddas. My experience is that the larger patterns may or may not come thru and this one may fall into the "TO BIG TO NOT FAIL" catagory. However, it does have it's pro's but i'll let you decide without my input.

The pattern maybe a little hard to to see because of the rounded head and shoulders on my screen, hence 3 Buddas according to Nison. I hd to adjust my screen to get it to look like this
Attached Image
  • #396,738
  • Feb 26, 2011 7:49am Feb 26, 2011 7:49am
Between all of the excellent postings and charts by Fontu, Gator, Hut and many more we still don't know which way this thing is going to go so;
My Mantra for next week is "What the h*ll, just follow the road signs and don't pick up any hitchhikers"
  • #396,739
  • Feb 26, 2011 7:52am Feb 26, 2011 7:52am
Quoting PhAnTi'
Infi,what about a silver count ?

(got a lot of long positions this month ; p)
Hi Phanti,

hope you have a nice weekend. Am busy right now with an Congress.

Have never counted silver. When I get the time I will do it later.

Schönes Wochenende,

Markus


By the way: quick analysis:

Silver seems to be in a subwave 4 of its final wave 5. Target: 36.18-37.70
  • #396,740
  • Feb 26, 2011 8:01am Feb 26, 2011 8:01am
Quoting gordonfx
Between all of the excellent postings and charts by Fontu, Gator, Hut and many more we still don't know which way this thing is going to go so;
My Mantra for next week is "What the h*ll, just follow the road signs and don't pick up any hitchhikers"

all the risks borne by passengers
only an analysis, and I'm always wrong, don't follow me,
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