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High velocity trading

  • #541
  • Sep 27, 2011 10:21am Sep 27, 2011 10:21am
Quoting ruffryders
hmmmm still looks like GOLD is gonna go down to 1618. I will try small short order 1646-48 area. Will use a tight SL and probably if stopped won't reenter.
please note 1653 is MS1 and strong level

If gold starts to drop we need to cover AU longs
  • #542
  • Sep 27, 2011 10:22am Sep 27, 2011 10:22am
Quoting ruffryders
please note 1653 is MS1 and strong level

If gold starts to drop we need to cover AU longs
To cover AU longs....what you mean ? (we will have to close positions ?)
  • #543
  • Sep 27, 2011 10:24am Sep 27, 2011 10:24am
Quoting BlackTexto
To cover AU longs....what you mean ? (we will have to close positions ?)
yes exactly! currently AU is way above WP (9934) so the trade is still in good shape.
  • #544
  • Sep 27, 2011 10:28am Sep 27, 2011 10:28am
ok I'm out of AU longs. Price seems to be stuck @ 50-60 area.

will look for reentries soon time. Also ADR is cleared, so not much room available on the upside.
  • #545
  • Sep 27, 2011 10:29am Sep 27, 2011 10:29am
Quoting ruffryders
ok I'm out of AU longs. Price seems to be stuck @ 50-60 area.

will look for reentries soon time. Also ADR is cleared, so not much room available on the upside.
if you want to re-enter long AU look for reversal candles, if it drops to WP (40 area). If M30 candle reversed and WP gets rejected, look to enter longs once again.
  • #546
  • Sep 27, 2011 10:30am Sep 27, 2011 10:30am
Quoting ruffryders
if you want to re-enter long AU look for reversal candles, if it drops to WP (40 area). If M30 candle reversed and WP gets rejected, look to enter longs once again.
Reason to get out - DBL TOP on BRENT @ WP
  • #547
  • Sep 27, 2011 10:31am Sep 27, 2011 10:31am
http://img405.imageshack.us/img405/4...uck2709201.png
  • #548
  • Sep 27, 2011 10:32am Sep 27, 2011 10:32am
Quoting ruffryders
http://img405.imageshack.us/img405/4...uck2709201.png
Are you short already ? What is your entry point ?
  • #549
  • Sep 27, 2011 10:37am Sep 27, 2011 10:37am
Ok. XAU USD. Need to watch 1640 area now. If we drop to 1640 I would look for M5-M15 reversal candle. I think we will reach 1700 after a retrace. Good entries are in range of 1620-1640. I actually don't think PA will be able to go much lower below 1640. So one can look for reversal near 1640 and enter long for TP @ 1700.

Right now I think we will go lower for sure.
  • #550
  • Sep 27, 2011 10:38am Sep 27, 2011 10:38am
Quoting BlackTexto
Are you short already ? What is your entry point ?
no trades on BRENT. Just using it for hints on gold and AU PA.
  • #551
  • Sep 27, 2011 10:39am Sep 27, 2011 10:39am
Quoting ruffryders
no trades on BRENT. Just using it for hints on gold and AU PA.
Silver already going down guys. GOLD will follow shortly.
  • #552
  • Sep 27, 2011 10:48am Sep 27, 2011 10:48am
Quoting ruffryders
http://img405.imageshack.us/img405/4...uck2709201.png
BRENT M30 closed as bearish engulfer. What's that mean? We are going lower.
  • #553
  • Sep 27, 2011 11:08am Sep 27, 2011 11:08am
Quoting ruffryders
Ok. XAU USD. Need to watch 1640 area now. If we drop to 1640 I would look for M5-M15 reversal candle. I think we will reach 1700 after a retrace. Good entries are in range of 1620-1640. I actually don't think PA will be able to go much lower below 1640. So one can look for reversal near 1640 and enter long for TP @ 1700.

Right now I think we will go lower for sure.
Reversal to 1700 is already happening ?
  • #554
  • Sep 27, 2011 11:10am Sep 27, 2011 11:10am
Quoting BlackTexto
Reversal to 1700 is already happening ?
No I don't think so. I want to see PA reach 40 area before we can try for 1700. Besides most active trading session was out 1 hour ago, so I doubt that we can do much damage today (what's left of the day anyway).
  • #555
  • Sep 27, 2011 11:13am Sep 27, 2011 11:13am
Quoting ruffryders
No I don't think so. I want to see PA reach 40 area before we can try for 1700. Besides most active trading session was out 1 hour ago, so I doubt that we can do much damage today (what's left of the day anyway).
even if we do reach 1700 it would be a fast spike and rejection kinda thing. That's when I plan to short sell (upon WP rejection). I think the upwards move is overrated on gold, and we will likely proceed lower upon WP rejection.

As a summary - whatever happens I'm looking to short sell around 1700 area.
  • #556
  • Sep 27, 2011 11:49am Sep 27, 2011 11:49am
I was jogging, and what unties of the Forex market, he well starts whom I am at home, then he often makes nothing. To 20 gmt time movement might still walk in.
  • #557
  • Sep 27, 2011 12:22pm Sep 27, 2011 12:22pm
where you come from?
  • #558
  • Sep 27, 2011 12:22pm Sep 27, 2011 12:22pm
Quoting stevebalmmer
where you come from?
From Canada, Montreal

Where you guys from ?
  • #559
  • Sep 27, 2011 12:32pm Sep 27, 2011 12:32pm
Moscow, Russia. But spend more time in West Siberia @ the oil field. That's a pretty damn cold place, last winter it got to -60 C. Still some years you get to see the amazing aurora borealis, which is worth staying in the extreme conditions. This place is so cold, that when you go out to the federal highway, you usually notify someone of your course, since sometimes the car breaks down in the middle of nowhere with no cellphone reception. Gotta love west siberia for that. Catching a plane tmrw.

Montreal, Canada is an awesome place. Heard in Alberta you guys got nice oil sands reserves, seen the Discovery movie about the company, which runs one extracting operation there. Pretty advanced high-tech stuff for sure, compared to our field it looks like some alien-technology.
  • #560
  • Sep 27, 2011 12:38pm Sep 27, 2011 12:38pm
Quoting ruffryders
Montreal, Canada is an awesome place. Heard in Alberta you guys got nice oil sands reserves, seen the Discovery movie about the company, which runs one extracting operation there. Pretty advanced high-tech stuff for sure, compared to our field it looks like some alien-technology.
I love the sentence "like some alien-technology"! lol Yes its very advanced and cost of extracting is very high!

Here is montreal its very cold during winter...but not -60. We see -30C oftenly here.

Never saw an aurora borealis with my own eyes...if you can, take some pictures and share them with us! I then be able to say i know someone who saw one! lol

Have a safe trip tmrw!

Cheers
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