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Price is everything

  • #25,421
  • Dec 14, 2011 7:02pm Dec 14, 2011 7:02pm
Quoting spicymonkey
hi, a qn on ytd's gold. couldn't locate a relevant supply level prior to this.
Attachment
SMonkey - this was a period of consolidation. buyers could not sustain enough momentum to run prices higher. when this happens sell orders control the mkt.
  • #25,422
  • Dec 14, 2011 7:27pm Dec 14, 2011 7:27pm
Quoting spicymonkey
hi, a qn on ytd's gold. couldn't locate a relevant supply level prior to this.
Attachment
In response to the question on your chart:

We're following the people placing the orders

Those people often act on privileged information, so the why can be tough

But they can't hide their orders
  • #25,423
  • Dec 14, 2011 8:25pm Dec 14, 2011 8:25pm
Quoting spicymonkey
hi, a qn on ytd's gold. couldn't locate a relevant supply level prior to this.
Attachment
I believe you need to look a bit further left.
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  • #25,424
  • Dec 14, 2011 8:27pm Dec 14, 2011 8:27pm
Here's what I'll be watching tomorrow

See you guys in 7-8hrs
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  • #25,425
  • Dec 14, 2011 9:40pm Dec 14, 2011 9:40pm
almost there
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  • #25,426
  • Dec 14, 2011 10:02pm Dec 14, 2011 10:02pm
short if 4840 hits again
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  • #25,427
  • Dec 14, 2011 11:47pm Dec 14, 2011 11:47pm
Quoting tobinare
I believe you need to look a bit further left.
thanks DO,frankk,tobinare.

hi tobinare,
i did see the level, was strong supply as px moved down rapidly from there. but the visit up the next day used the level many times, and i thought the battle was over, with the bulls winning. so a level that has already played out will still hv significance after quite some time?
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hi DO,
so more prudent for price to make a move (referring to the recent activity ard $1640), like in this case px start moving downwards, leaving the level, before i commit to a position? as we will never know who will win n should wait for a PA (like engulfing) to appear.
  • #25,428
  • Dec 15, 2011 12:02am Dec 15, 2011 12:02am
short EU
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  • #25,429
  • Dec 15, 2011 12:09am Dec 15, 2011 12:09am
Quoting vasmiza
short EU
closed some @ this point
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  • #25,430
  • Dec 15, 2011 12:36am Dec 15, 2011 12:36am
Quoting spicymonkey
thanks DO,frankk,tobinare.

hi tobinare,
i did see the level, was strong supply as px moved down rapidly from there. but the visit up the next day used the level many times, and i thought the battle was over, with the bulls winning. so a level that has already played out will still hv significance after quite some time?
Attachment

Attachment

hi DO,
so more prudent for price to make a move (referring to the recent activity ard $1640), like in this case px start moving downwards, leaving the level, before i commit to...
Better to study and practice the smaller timeframe and apply the knowledge on the larger timeframe during major trends like this weeks fall in gold. But to answer your question, the significance of levels can last years, months, days, minutes. If you haven't yet, watch/read the Sam Sieden tutorials where he points this out.

Here's my take on the euro demonstrating what I pointed out on the Gold on the smaller time frame. As I type its working great.
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  • #25,431
  • Dec 15, 2011 12:43am Dec 15, 2011 12:43am
long cable
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  • #25,432
  • Dec 15, 2011 12:47am Dec 15, 2011 12:47am
hi all,

just shorted euro at 1.3021. TG at 1.3003.

Edited: closed all at TG.
Attached Image(s) (click to enlarge)
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  • #25,433
  • Dec 15, 2011 12:52am Dec 15, 2011 12:52am
Bonjour,
EU
sold @1.3020, should be a nice upper lock if price went down below 1.30.
Rien ne sert de courir il faut partir à point.
  • #25,434
  • Dec 15, 2011 1:13am Dec 15, 2011 1:13am
Quoting flytox
Bonjour,
EU
sold @1.3020, should be a nice upper lock if price went down below 1.30.
locked.
no tg being an upper lock. Worth it to maintain short over 1.3010 if it happens we are entering a new EU south trading range.
Rien ne sert de courir il faut partir à point.
  • #25,435
  • Dec 15, 2011 1:34am Dec 15, 2011 1:34am
Quoting flytox
locked.
no tg being an upper lock. Worth it to maintain short over 1.3010 if it happens we are entering a new EU south trading range.
added 2 (RTP for details).
Rien ne sert de courir il faut partir à point.
  • #25,436
  • Edited 2:21am Dec 15, 2011 1:57am | Edited 2:21am
Hi all,

just longed euro at 1.2974 . TG at 1.2992.

Edited: got out at -4 pips. Didnt seem like having any momentum now.
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  • #25,437
  • Dec 15, 2011 2:31am Dec 15, 2011 2:31am
if 15500 hits again im short
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  • #25,438
  • Dec 15, 2011 2:52am Dec 15, 2011 2:52am
played the break long cable
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  • #25,439
  • Dec 15, 2011 2:56am Dec 15, 2011 2:56am
Quoting vasmiza
played the break long cable
amazing, that resistant contains a lot OF sellers SL, when it break, it will be a good momentum for the buyer.
very nice trade buddy
I love PIE and RTP
  • #25,440
  • Dec 15, 2011 3:00am Dec 15, 2011 3:00am
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CBI Industrial Trends Survey - Orders (MoM) (Dec) -23%-20%
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