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  • #1,341
  • Oct 13, 2011 12:39am Oct 13, 2011 12:39am
Hi,

any suggestion for gold today
  • #1,342
  • Oct 13, 2011 12:44am Oct 13, 2011 12:44am
Quoting jaimini
Hi,

any suggestion for gold today
yeah I'm watching it. Same H1 chart with the channel setup. If we can reach 1650-55 area I'd look into buying. Otherwise we can do CONSO. 1675 is quarterly pivot, 1692 is monthly pivot. So while price is locked in this range, there's so much we can do.
  • #1,343
  • Oct 13, 2011 12:47am Oct 13, 2011 12:47am
Quoting ruffryders
yeah I'm watching it. Same H1 chart with the channel setup. If we can reach 1650-55 area I'd look into buying. Otherwise we can do CONSO. 1675 is quarterly pivot, 1692 is monthly pivot. So while price is locked in this range, there's so much we can do.
http://img43.imageshack.us/img43/6581/brent13102011.png

This one here is BRENT H1. Would be good to see GOLD retreat to 50-55 area, and then look for BRENT to start picking strength and do this scenario on the chart. This surely will give GOLD a boost.
  • #1,344
  • Oct 13, 2011 12:50am Oct 13, 2011 12:50am
Quoting jaimini
Hi,

any suggestion for gold today
http://img651.imageshack.us/img651/1...on13102011.png

In fact if you look at the chart of H1 GOLD that I posted here mupliple times, we had a clean rejection on Monthly Pivot @ 1692, which is indicated by H1 green reversal candle. That was a clear signal to short sell. However that was when I was not around (out at a business dinner last night).

So right now we just sit it out and see how price reacts near 50-55 area.
  • #1,345
  • Oct 13, 2011 1:48am Oct 13, 2011 1:48am
Quoting ruffryders

In fact if you look at the chart of H1 GOLD that I posted here mupliple times, we had a clean rejection on Monthly Pivot @ 1692, which is indicated by H1 green reversal candle. That was a clear signal to short sell. However that was when I was not around (out at a business dinner last night).

So right now we just sit it out and see how price reacts near 50-55 area.
looks like 1670 is playin short term support role
  • #1,346
  • Oct 13, 2011 2:42am Oct 13, 2011 2:42am
Quoting jaimini
looks like 1670 is playin short term support role
might be, but to me personally 1675-92 is a nomans land, so I'm not even interested in GOLD for right now.
  • #1,347
  • Oct 13, 2011 2:47am Oct 13, 2011 2:47am
Hi,

I have added your TL break indicator only and now my chart look like this
I think something wrong here

so I need to do some indicator settings ?
Attached Image (click to enlarge)
Click to Enlarge Name: 10-13-2011 1-15-57 PM.png Size: 16 KB
  • #1,348
  • Oct 13, 2011 2:49am Oct 13, 2011 2:49am
Quoting ruffryders
might be, but to me personally 1675-92 is a nomans land, so I'm not even interested in GOLD for right now.
You might be right though, might be time to update GOLD H1 channel slope, since looks like silver/BRENT found support as well @ current levels.

http://img508.imageshack.us/img508/2...nel1310201.png
  • #1,349
  • Oct 13, 2011 2:51am Oct 13, 2011 2:51am
Quoting jaimini
Hi,

I have added your TL break indicator only and now my chart look like this
I think something wrong here

so I need to do some indicator settings ?
Nope that looks just fine, the deal though the read out is in Russian, I will see if I can change the code so it will display the text in english.

Just don't use it on M1, I'd recommend M15-M30 timeframes for best use.
  • #1,350
  • Oct 13, 2011 2:58am Oct 13, 2011 2:58am
Quoting ruffryders
Nope that looks just fine, the deal though the read out is in Russian, I will see if I can change the code so it will display the text in english.

Just don't use it on M1, I'd recommend M15-M30 timeframes for best use.
you have shared mq4 file so if you know english translation I can update it in metaeditor
  • #1,351
  • Oct 13, 2011 2:59am Oct 13, 2011 2:59am
Quoting ruffryders
Nope that looks just fine, the deal though the read out is in Russian, I will see if I can change the code so it will display the text in english.

Just don't use it on M1, I'd recommend M15-M30 timeframes for best use.
http://img209.imageshack.us/img209/9548/tl13102011.png

Ok managed to update it and make the read out in ENGLISH. Here's an M15 GOLD setup. TL broken to the upside, targets highlighted on the cahrt. Read out in enlgish as well.

Updated indicator attached. Also will update page 1.
Attached File(s)
File Type: mq4 Ind-TD-DeMark-ENG.mq4   15 KB | 230 downloads
  • #1,352
  • Oct 13, 2011 3:09am Oct 13, 2011 3:09am
guys GU could be a downside TL break now.
  • #1,353
  • Oct 13, 2011 3:11am Oct 13, 2011 3:11am
Quoting ruffryders
guys GU could be a downside TL break now.
http://img4.imageshack.us/img4/921/gutl13102011.png
  • #1,354
  • Oct 13, 2011 3:22am Oct 13, 2011 3:22am
Quoting ruffryders
guys GU could be a downside TL break now.
what would be SL if we short now
  • #1,355
  • Oct 13, 2011 3:22am Oct 13, 2011 3:22am
guys just don't think it's a change of direction, I personally view it is a mild retrace. GU support seen @ 5620-40 area.

The retrace was expected, because yesterday we almost covered twice as much as ADR on majors.
  • #1,356
  • Oct 13, 2011 3:24am Oct 13, 2011 3:24am
Quoting jaimini
what would be SL if we short now
when you enter based on TL break SL is alway previous high. Proper entry was once M15 candle closed below MP level. Right now it can do a pullback.
  • #1,357
  • Oct 13, 2011 3:24am Oct 13, 2011 3:24am
Quoting ruffryders
when you enter based on TL break SL is alway previous high. Proper entry was once M15 candle closed below MP level. Right now it can do a pullback.
GU TP is 20-40 area.
  • #1,358
  • Oct 13, 2011 3:26am Oct 13, 2011 3:26am
Quoting ruffryders
GU TP is 20-40 area.
pullback will also depend on coming event of GBP
  • #1,359
  • Oct 13, 2011 3:33am Oct 13, 2011 3:33am
Quoting jaimini
pullback will also depend on coming event of GBP
news is in favour of GU
will it trigger pullback?
what's your opinion
  • #1,360
  • Oct 13, 2011 3:34am Oct 13, 2011 3:34am
Quoting jaimini
pullback will also depend on coming event of GBP
it's not going to affect the downside targets.
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