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High velocity trading

  • #441
  • Sep 26, 2011 12:45am Sep 26, 2011 12:45am
Quoting ruffryders
careful, for the reasons I highlighted above. BRENT is melting down and looks like it's not gonna stop.
Thanks RR... yeah i am out Totaly..about 2 hrs ago,,
  • #442
  • Sep 26, 2011 8:05am Sep 26, 2011 8:05am
Hi RR,

I hope you had a nice week end!

Wow! This drop in gold and silver is massive! I have to say its very tempting to get in long!

But i dont know what to think about it. I feel it can still go downside. The comex margin raise at the end of this business day so this will for sure affect at the downside.

My biggest worry is the world economic situation wich has everything to push gold price up. Im kind of lost and dont know what to think of the whole situation.

Any advice will be greatly appreciate!

Thank you RR.
  • #443
  • Sep 26, 2011 2:10pm Sep 26, 2011 2:10pm
hello rr,
i dont can install the template, i work with firefox. i can not open with winrar.
  • #444
  • Sep 26, 2011 2:11pm Sep 26, 2011 2:11pm
Quoting stevebalmmer
hello rr,
i dont can install the template, i work with firefox. i can not open with winrar.
You have to copy and paste the files in your
MetaTrader/Experts/Indicators folder.

Ill download them and ill let you know if it works for me.

By the way...the files are not compressed so you dont have
to decompressed them.
  • #445
  • Sep 26, 2011 2:16pm Sep 26, 2011 2:16pm
Quoting stevebalmmer
hello rr,
i dont can install the template, i work with firefox. i can not open with winrar.
you just need to download the files and put them in Metatrader4 Directory under TEMPLATES. You dont need to use WINRAR.
  • #446
  • Sep 26, 2011 2:17pm Sep 26, 2011 2:17pm
Quoting stevebalmmer
hello rr,
i dont can install the template, i work with firefox. i can not open with winrar.
Ok, so there is a total of 5 files.
- 4 files have extension .ex4
- 1 file have extension .tpl

You have to put the .ex4 files in this forlder:
c:/Programs Files/MetaTrader/experts/indicators

You have to put the .tpl file in this folder:
c:/Programs Files/MetaTrader/templates

I tested them and they work perfect for me!

Thank you very much RR for sharing your Tools!
  • #447
  • Sep 26, 2011 2:19pm Sep 26, 2011 2:19pm
Quoting BlackTexto
Hi RR,

I hope you had a nice week end!

Wow! This drop in gold and silver is massive! I have to say its very tempting to get in long!

But i dont know what to think about it. I feel it can still go downside. The comex margin raise at the end of this business day so this will for sure affect at the downside.

My biggest worry is the world economic situation wich has everything to push gold price up. Im kind of lost and dont know what to think of the whole situation.

Any advice will be greatly appreciate!

Thank you RR.
Man gotta trade what we see on the charts.

On the M30 charts we see price action setting up for triangle break out. Above 1643 we can expect a retest of weekly pivot @ 1700. Below 1565 we can expect further downside on gold limited by 1500. Can we reach 1500 this week? Hard to say, but this would be like an ultimate BUY level.

Also as I said times and times before, we gotta monitor BRENT prices. If oil slides further below 100, we can expect more downside on GOLD.
  • #448
  • Sep 26, 2011 2:20pm Sep 26, 2011 2:20pm
pending short sell order GBP JPY @ 118.35 SL 25 TP @116.88
  • #449
  • Sep 26, 2011 2:23pm Sep 26, 2011 2:23pm
Quoting ruffryders
Man gotta trade what we see on the charts.

On the M30 charts we see price action setting up for triangle break out. Above 1643 we can expect a retest of weekly pivot @ 1700. Below 1565 we can expect further downside on gold limited by 1500. Can we reach 1500 this week? Hard to say, but this would be like an ultimate BUY level.

Also as I said times and times before, we gotta monitor BRENT prices. If oil slides further below 100, we can expect more downside on GOLD.
Actually i have a profitable long positions, but im not confident gold will go up. As you said, 1500 may be the next bottom. Insane market ! lol

Can you explain me why Brent is so important for Gold Price ? Thank you RR and im happy to see you in the thread! Im here since this moring and its now 15:23 where i live! Long day studying the charts....one day ill understant it like a second language! hopefully...
  • #450
  • Sep 26, 2011 2:28pm Sep 26, 2011 2:28pm
Quoting ruffryders
GBP NZD H4 - looking for tech confluence for price action reversal

http://img153.imageshack.us/img153/4...h425092011.png

My gameplan here - look for PA to reverse in the highlighted area. Use a tight stop @ MR1 + 40 pips. Look for M30-H1 reversal red stick in the highlighted area. Short sell. Set TP1 @ + 150 TP2 @ + 300 pips.

This looks like a very interesting trade setup.
sold this @ 2.0157. SL never challenged (+40). current price is 9963. I'm fairly confident TP1 (+150 pips) reached. TP2 need to be prepared for a retrace, however 85% confident will be reached this week!
  • #451
  • Sep 26, 2011 2:45pm Sep 26, 2011 2:45pm
http://img217.imageshack.us/img217/5...h426092011.png

Lets have a look at BRENT H4 charts. It seems PA found support @ MS1 level @ 102.20, which is also represented by H4 green reversal stick.

It does look like a valid reversal signal to me, so least we can expect is retest of weekly pivot @ 106.50. This also would confirm a WP retest on gold.
  • #452
  • Sep 26, 2011 2:59pm Sep 26, 2011 2:59pm
http://img571.imageshack.us/img571/8...h126092011.png

USDX H1. I believe we are topping out before a correction. This is not a major long-term top. This is visualized by the ping-pong in a tight range. Dollar is ready for a retrace. Current quote is 7815 near WP. I think we are going to break WP and head to WS1 @ 77.20.

This should give some room for EU/GU to gain upside momentum, however not for a long time.

Overall I see dollar being stronger, and trading way higher beyond current levels. However all good things take time, so right now me figures come time for the correction.
  • #453
  • Sep 26, 2011 3:07pm Sep 26, 2011 3:07pm
Alright, they say HTF all the way, so lets zoom out on USDX to Daily.

Here's USDX D1 chart

http://img855.imageshack.us/img855/2...d1reversal.png

As you can see we are in the process of closing a very nice reversal candlestick @ an important level. This is a strong indication of reversal.

Lets add this to the BRENT analysis. All in all, higher BRENT, lower USDX is going to support higher EU/GU/AU.

So if you are not long EU/GU/AU yet, get it.

I'm currently long GU with tight SL and will add more above 5590.
AUD USD built a nice base for reversal. I will go long @ 9892 SL 30 TP + 250. Also can add above current congestion area ( 9840-9870). 9892-9912 looks good to me to initiate LONG trades on AU.
  • #454
  • Sep 26, 2011 3:10pm Sep 26, 2011 3:10pm
http://img10.imageshack.us/img10/553...1260920112.png

Here's the same USDX H1 chart with some mark up. Easy to figure out why USDX is going lower now, isn't it?
  • #455
  • Sep 26, 2011 3:16pm Sep 26, 2011 3:16pm
Quoting BlackTexto
Ok, so there is a total of 5 files.
- 4 files have extension .ex4
- 1 file have extension .tpl

You have to put the .ex4 files in this forlder:
c:/Programs Files/MetaTrader/experts/indicators

You have to put the .tpl file in this folder:
c:/Programs Files/MetaTrader/templates

I tested them and they work perfect for me!

Thank you very much RR for sharing your Tools!
No problem at all, you are welcome!
  • #456
  • Sep 26, 2011 3:17pm Sep 26, 2011 3:17pm
Quoting ruffryders

I'm currently long GU with tight SL and will add more above 5590.
AUD USD built a nice base for reversal. I will go long @ 9892 SL 30 TP + 250. Also can add above current congestion area ( 9840-9870). 9892-9912 looks good to me to initiate LONG trades on AU.
Im also long with GU at 5524. I have a tight stop and i set my TP at 5668 like you suggest in a preivous post. In profit for now!
  • #457
  • Sep 26, 2011 3:22pm Sep 26, 2011 3:22pm
http://img231.imageshack.us/img231/9...ldtriangle.png

Here's the gold triangle setup. The chart is M30 XAUUSD. Like posted previously, I expect retest of WP. Brent supports this scenario.

Why BRENT is important? Because there is a historical correlation between gold and oil prices. The link is deep, and it's hard to explain / not obvious - however refute it or not, the correlation is there and it's shown it's strength recently 0 in the downmove.
  • #458
  • Sep 26, 2011 3:29pm Sep 26, 2011 3:29pm
Quoting ruffryders
http://img231.imageshack.us/img231/9...ldtriangle.png

Here's the gold triangle setup. The chart is M30 XAUUSD. Like posted previously, I expect retest of WP. Brent supports this scenario.

Why BRENT is important? Because there is a historical correlation between gold and oil prices. The link is deep, and it's hard to explain / not obvious - however refute it or not, the correlation is there and it's shown it's strength recently 0 in the downmove.
Great! I appreciate your explanation. Well i remember a day where i lost all my demo account balance trading gold and oil at the same time and both of them dropped like crazy at the same time. I didn't know if it was a correlation between gold and oil... or if it was just a random situation.

With what you say, it confirm that there is a correlation in gold and oil and as you said....Brent was very stable and not much downside.

(What time is it actually RR at your city. Here is 16:29 and its end of working day!)
  • #459
  • Sep 26, 2011 3:30pm Sep 26, 2011 3:30pm
If you want to risk for 1700 on gold right now is the best R/R for LONGs.

I'm in long myself with SL @ 1615. TP @ 1700.

Wish you good luck guys, whichever way you choose to trade this. THough I still recommend going LONG.
  • #460
  • Sep 26, 2011 3:56pm Sep 26, 2011 3:56pm
Quoting ruffryders
If you want to risk for 1700 on gold right now is the best R/R for LONGs.

I'm in long myself with SL @ 1615. TP @ 1700.

Wish you good luck guys, whichever way you choose to trade this. THough I still recommend going LONG.
Should we consider this to this position. This can push price lower ?

http://www.zerohedge.com/news/shangh...lver-margin-20

Thank you
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