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High velocity trading

  • #1,921
  • Nov 3, 2011 6:51am Nov 3, 2011 6:51am
Gold h 4, on the double top 1748, i have a pending order , short at 1745.
  • #1,922
  • Nov 3, 2011 12:27pm Nov 3, 2011 12:27pm
Quoting danc
Just closed last possie.. ++100.. Notice DXY... below Mthly PPX and 1/4 ppx.... weekly mid 75.60 here we come....
Dan nicely done, great effort!
  • #1,923
  • Nov 3, 2011 12:28pm Nov 3, 2011 12:28pm
Aiming to short Gold...is it a good move or better to wait?
  • #1,924
  • Nov 3, 2011 1:53pm Nov 3, 2011 1:53pm
http://img64.imageshack.us/img64/1300/euh103112011.png

EU H1. Strong Res line. If PA can clear/break it, WP retest will be next up. Otherwise below MP we can turn bearish. However, currently above MP, so direction-wise we are undecided yet.
  • #1,925
  • Nov 3, 2011 1:56pm Nov 3, 2011 1:56pm
Quoting dnvg
Aiming to short Gold...is it a good move or better to wait?
no no no, looks like my scenario (D1) might be invalidated by a break above 1760. If you look @ D1 candles, you can see a strong reversal D1 candle @ Mp and also @ Wp. I might have been overconfident with my forecast.

Break above 60 will indicate further upside limited initially by 80 area.

Right now GOLD looks pretty strong.
  • #1,926
  • Nov 3, 2011 2:07pm Nov 3, 2011 2:07pm
GBP CHF SHORT @ CURRENT SL 30 TP 124 points.
  • #1,927
  • Nov 3, 2011 2:20pm Nov 3, 2011 2:20pm
and usd-chf short too.
  • #1,928
  • Nov 4, 2011 2:56am Nov 4, 2011 2:56am
Quoting ruffryders
GBP CHF SHORT @ CURRENT SL 30 TP 124 points.
SLed out with -24 (manually)
  • #1,929
  • Nov 4, 2011 3:03am Nov 4, 2011 3:03am
http://img842.imageshack.us/img842/4...h104112011.png
  • #1,930
  • Nov 4, 2011 3:05am Nov 4, 2011 3:05am
GOLD H1 chart. We are above WP and MP. Looking for a TL break and will try to straddle gold today. Personally prefer downside scenario, however break above 69-72 area will indicate upside capped by 1800 initially.

Lets see how it goes and try to cash out the potential TL break setup.
  • #1,931
  • Nov 4, 2011 3:33am Nov 4, 2011 3:33am
have a pending order above 1780,
  • #1,932
  • Nov 4, 2011 4:01am Nov 4, 2011 4:01am
Quoting stevebalmmer
have a pending order above 1780,
steve at the moment looks more like a downside resolution, lets wait and see if PA can trigger my short sell area.
  • #1,933
  • Nov 4, 2011 4:22am Nov 4, 2011 4:22am
yes, gold come back, i hope below till 1745. or 1730.
Question. today nfp ,hwat makes the gold chart, he go down and high,or stay on the side?
  • #1,934
  • Nov 4, 2011 4:27am Nov 4, 2011 4:27am
Quoting stevebalmmer
yes, gold come back, i hope below till 1745. or 1730.
Question. today nfp ,hwat makes the gold chart, he go down and high,or stay on the side?
Steve I really don't have any idea, however both scenarios are accounted for on my chart. Just use a stop no wider than 5 and TP 20-25 dollars from your entry point. There is definitely going to be a move today, which way - tough to tell. Momentum on GOLD is to the upside, however unless 69-72 area is broken, I won't go LONG. Momentum might also fade away, if we do a TL break to the downside. Then we can expect downside targets in 20-30 area.
  • #1,935
  • Nov 4, 2011 4:39am Nov 4, 2011 4:39am
http://img137.imageshack.us/img137/2...ndpivot011.png

It's important to note that GOLD is also above Quarterly Pivot (table posted on page 1 of the thread). That means that we can reach R1 now @ 1870, unless PA resolves to go below 1750. Currently PA contained above 1750 psychological level, so direction is undecided yet (Momentum, as noted previously, is to the upside - still personally I prefer downside).

Gotta keep eyes open now.
  • #1,936
  • Nov 4, 2011 4:42am Nov 4, 2011 4:42am
http://img97.imageshack.us/img97/941...h404112011.png
  • #1,937
  • Nov 4, 2011 4:43am Nov 4, 2011 4:43am
Above is H4 GOLD chart. It could be that Res is turning to Sup now. + above QP, MP, WP. So the summary - momentum is to the upside, we need for a clean break above 69-72 to consider LONG trade setups.
  • #1,938
  • Nov 4, 2011 4:43am Nov 4, 2011 4:43am
Now I feel good, since both scenarios are covered properly.
  • #1,939
  • Nov 4, 2011 4:44am Nov 4, 2011 4:44am
Now the waiting game is ON.
  • #1,940
  • Nov 4, 2011 4:46am Nov 4, 2011 4:46am
the waiting game is the bad time.
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