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High velocity trading

  • #1,801
  • Oct 24, 2011 10:18am Oct 24, 2011 10:18am
USDCAD now going south... 1.0034 now. Decision zone.
And gold heading up.
  • #1,802
  • Oct 24, 2011 10:27am Oct 24, 2011 10:27am
RR. What you think of trailing stop ? Do you use them sometime ?
  • #1,803
  • Oct 24, 2011 11:02am Oct 24, 2011 11:02am
Closed my gold position. No profit - No loss :s

Gold dont seem to have direction for now.
  • #1,804
  • Oct 24, 2011 12:20pm Oct 24, 2011 12:20pm
gold entry 1655 over the trendline. Tp ^1665.
Under the Wp, my entry is 1639, tp 1628
Attached Image (click to enlarge)
Click to Enlarge Name: velocity.gif Size: 29 KB
  • #1,805
  • Edited 2:51pm Oct 24, 2011 2:13pm | Edited 2:51pm
Is this was we call a triple top ? If this is, this mean weakness in gold and more downside to come.

Will wait for your reaction!

CHART: GOLD, TF: M30
Attached Image (click to enlarge)
Click to Enlarge Name: tripletop.jpg Size: 153 KB
  • #1,806
  • Oct 24, 2011 2:49pm Oct 24, 2011 2:49pm
it is tf w 1?
  • #1,807
  • Oct 24, 2011 2:50pm Oct 24, 2011 2:50pm
Quoting stevebalmmer
it is tf w 1?
No steve, sorry i should indicate. The TF is M30
  • #1,808
  • Oct 24, 2011 3:29pm Oct 24, 2011 3:29pm

it is go under the wp, i go short. 1638-1630
  • #1,809
  • Oct 24, 2011 6:25pm Oct 24, 2011 6:25pm
Quoting stevebalmmer

it is go under the wp, i go short. 1638-1630
Right now Gold seem to go nowhere... long day! I have no pending position as i just dont know where it will go...up or down...it almost reached the TP2 with a high at 1661.86 and since then its going no where. Will see the reaction next time it test WP. Right now...while im typing this is seem that gold will test WP again...i guess i had to say it was going no where to see it move!; )

USDCAD is also going no where for now... i have a pending short sell at
0.9984 with TP at 0.9788 as suggested by RR.


Les hope there is more action tomorrow.
  • #1,810
  • Oct 24, 2011 6:30pm Oct 24, 2011 6:30pm
Steve...Gold under WP. Your setup should be triggered soon! (hopefully)
  • #1,811
  • Oct 24, 2011 9:04pm Oct 24, 2011 9:04pm
Quoting BlackTexto
Steve...Gold under WP. Your setup should be triggered soon! (hopefully)
Bounce
  • #1,812
  • Oct 24, 2011 11:44pm Oct 24, 2011 11:44pm
usd-cad i hope go faster down!
  • #1,813
  • Oct 25, 2011 3:23am Oct 25, 2011 3:23am
Quoting ruffryders
http://img163.imageshack.us/img163/6...h423102011.png

Quick look @ UCAD H4. I suggest and will look to short sell soon. Proposed plan on the chart.
UCAD looking good, but not just there yet. Need to wait for a proper break of the decision area.
  • #1,814
  • Oct 25, 2011 3:29am Oct 25, 2011 3:29am
I think chances are good we will hit 1670-80 soon on GOLD
  • #1,815
  • Oct 25, 2011 3:37am Oct 25, 2011 3:37am
http://img90.imageshack.us/img90/119...0251020112.png

Guys just trade what you see. An M30 upside flag breakout and further PA strength. That happened last week, and right now the pattern is almost the same. Further strength expected now.
  • #1,816
  • Oct 25, 2011 3:38am Oct 25, 2011 3:38am
Quoting BlackTexto
Is this was we call a triple top ? If this is, this mean weakness in gold and more downside to come.

Will wait for your reaction!

CHART: GOLD, TF: M30
No it's not a triple top.

http://www.forex-trading-gurus.com/a...op-pattern.gif
  • #1,817
  • Oct 25, 2011 5:20am Oct 25, 2011 5:20am
Just want to thank ruffryders for the advices and learning he gives to newbies like me and for opening my mind to see the correct signals that before wasn't obvious.
Keep up the good job!

PS: Long from 1656.
  • #1,818
  • Oct 25, 2011 6:11am Oct 25, 2011 6:11am
Quoting dnvg
Just want to thank ruffryders for the advices and learning he gives to newbies like me and for opening my mind to see the correct signals that before wasn't obvious.
Keep up the good job!

PS: Long from 1656.
No problem man, you are most welcome!
  • #1,819
  • Oct 25, 2011 6:27am Oct 25, 2011 6:27am
Some learning questions to ruff: A time ago, it was said that Oil was probably going down to reach 90$, this cenario is still valid? If oil goes down, Gold can go down also? How strong is the Oil-Gold relation?
  • #1,820
  • Oct 25, 2011 6:36am Oct 25, 2011 6:36am
Quoting dnvg
Some learning questions to ruff: A time ago, it was said that Oil was probably going down to reach 90$, this cenario is still valid? If oil goes down, Gold can go down also? How strong is the Oil-Gold relation?
http://www.zealllc.com/c2005/Zeal040105A.gif

http://www.zealllc.com/c2005/Zeal040105B.gif

Correlation is pretty strong. It does change, however it's still present nowadays.

BRENT @ 90 per barrel? Probably not very likely, since we are above MP, QP as well. 100-120 is a 90% probable range until end of 2011.
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