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The Really Useless Thread

  • #93,501
  • Jun 1, 2012 9:23am Jun 1, 2012 9:23am
Quoting sisse
...well it has been there since the trend reversed with reversal candle in July 2011. Quarterly chart update before the last Q month.

sisse
if we d0 get -2281 it kicks the door wide open st to 2088
waiting to s gold again above 1634.63
1646.03 is a LM
those who can, do. those who cant, talk about those who can
  • #93,502
  • Jun 1, 2012 9:54am Jun 1, 2012 9:54am
Quoting gatorinla
if we d0 get -2281 it kicks the door wide open st to 2088
waiting to s gold again above 1634.63
1646.03 is a LM
too much excitement in Gold..
I agree it is limited.. to 1630ish but we may see turn even here.. confluencies from 1600 to 1630-40 .. all on Higher TF-es

I would be surprised if we take up from here..

4h and daily building a bearish divergence..
  • #93,503
  • Jun 1, 2012 10:07am Jun 1, 2012 10:07am
s/p under 200 ma day
those who can, do. those who cant, talk about those who can
  • #93,504
  • Jun 1, 2012 10:12am Jun 1, 2012 10:12am
Quoting gatorinla
s/p under 200 ma day
just about any important chart I have is sitting on or bounced off of significant support/resistance already. but what was the fart? an assumption?
  • #93,505
  • Jun 1, 2012 10:15am Jun 1, 2012 10:15am
Quoting Piters
too much excitement in Gold..
I agree it is limited.. to 1630ish but we may see turn even here.. confluencies from 1600 to 1630-40 .. all on Higher TF-es

I would be surprised if we take up from here..

4h and daily building a bearish divergence..
like the euro spike.. you have to put a news spike in perspective. i knew something was fishy.. i forgot about nfp. spikes not followed up by closes are bs many times. so we can treat them as though they never happened. but i still will not s gold unless that target is met or a LL.. below 1532.75... the spike may be bs but the pair already made the target for 1634.63
those who can, do. those who cant, talk about those who can
  • #93,506
  • Jun 1, 2012 10:21am Jun 1, 2012 10:21am
well, well, exiting moves, no casualties I hope....
Don't be a hero. Don't have an ego. Always question yourself
  • #93,507
  • Jun 1, 2012 10:21am Jun 1, 2012 10:21am
Quoting Mr Hatch
just about any important chart I have is sitting on or bounced off of significant support/resistance already. but what was the fart? an assumption?
i had dec highs as a pullback as a min in feb/march.. min means i don't have a target after the highs were touched.. target reached in this case i dont have another atm
those who can, do. those who cant, talk about those who can
  • #93,508
  • Jun 1, 2012 10:26am Jun 1, 2012 10:26am
divergence building on H4 - but the chart says it won't turn on a dime - looks to me like it's capped at 405 st before testing lower 300s again
Attached Image (click to enlarge)
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  • #93,509
  • Jun 1, 2012 10:26am Jun 1, 2012 10:26am
Quoting Piters
too much excitement in Gold..
I agree it is limited.. to 1630ish but we may see turn even here.. confluencies from 1600 to 1630-40 .. all on Higher TF-es

I would be surprised if we take up from here..

4h and daily building a bearish divergence..
the mid for the target is 1609.xx. its where we play atm
those who can, do. those who cant, talk about those who can
  • #93,510
  • Jun 1, 2012 10:29am Jun 1, 2012 10:29am
Quoting Mr Hatch
just about any important chart I have is sitting on or bounced off of significant support/resistance already. but what was the fart? an assumption?
target reached.. more times then not.. we spring back some. but it don't have too. it just does it more times then not.
those who can, do. those who cant, talk about those who can
  • #93,511
  • Jun 1, 2012 10:30am Jun 1, 2012 10:30am
Quoting gatorinla
s/p under 200 ma day
Yeap S&P in key levels. 1286.xx is the Key horizontal support (and also the 200 MA that everybody talk and track in stocks). I took the short on the retest of the break intraday but is not following down with much conviction. It was worth the try to make the break but is going nowhere so I am clearing all in the ES and closing week for trading.

S&P close is REALLY the one to watch. Irish referendum passed (as expected) but a worse than expected NFP (3 in a row) will bring some aftershocks soon if risk stays in control and US markets lose foot again for 3 time in 4 years and join the party down.

Any coordinated action with free money or any sign of FED QE will make me blindly buy at these level betting to all time highs in US markets for the end of the year that can only be delayed by euro collapse (greexit, etc).

We'll see

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #93,512
  • Jun 1, 2012 10:39am Jun 1, 2012 10:39am
Quoting Mr Hatch
just about any important chart I have is sitting on or bounced off of significant support/resistance already. but what was the fart? an assumption?
there is a chart for the dow posted a few weeks back. that shows what happens more times then not
Attached Image (click to enlarge)
Click to Enlarge Name: yen.PNG Size: 46 KB
those who can, do. those who cant, talk about those who can
  • #93,513
  • Jun 1, 2012 10:46am Jun 1, 2012 10:46am
Quoting gatorinla
back.. i don't hear it anymore.
im scared
hatch its not the original post, but it is the chart.. the green box happens more times then not. a pullback in a bullish move. just on a bigger scale makes it seem grim atm.. since it takes years. #91042 if Romany/Obama wins he will take credit on the green box bounce. , but it will not have anything to do with who is in office. its just a normal move
those who can, do. those who cant, talk about those who can
  • #93,514
  • Jun 1, 2012 10:52am Jun 1, 2012 10:52am
s 408 10 sl
  • #93,515
  • Jun 1, 2012 10:52am Jun 1, 2012 10:52am
Quoting gatorinla
there is a chart for the dow posted a few weeks back. that shows what happens more times then not
its bullish on the n side of the line. although i dont state it.. its always that way.. its always a s/r until its not
those who can, do. those who cant, talk about those who can
  • #93,516
  • Jun 1, 2012 10:53am Jun 1, 2012 10:53am
Quoting Mr Hatch
just about any important chart I have is sitting on or bounced off of significant support/resistance already. but what was the fart? an assumption?
Well IMO it doesn't look that difficult this time.

Given the current circumstances:

1. Dollar overbought via risk with "bad" NFP opens QE bla bla. QE makes dollar weak and gold strong. So buy gold, sell dollars

2. Macroeconomic numbers across the world with Europe in full control and some major countries in recession (i.e UK) are starting to spread globally (EU as whole is the biggest trading actor in the world) Chinese numbers were also very weak, Brazil also felt the impact and was force to play with interest rates. Oil felt like a rock leading the way and pointing to economic slowdown.

So pullback globally in equities to "after" 2008 recession recovery break outs.

3. Europe soup opera and with Greece still playing with fire. Full Risk and banking panic. Euro at extreme levels oversold so NFP fantastic opp for profit taking at support.

4. Finally, and more importantly, Strong voices and rumors on a coordinated action across the world to pump liquidity in the system. They have done it before (++++20% rallies after that) so ride the markets to S/R and force public money to come in ...wait for the confirmation or break down(or up) if they don't intervene...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #93,517
  • Jun 1, 2012 11:01am Jun 1, 2012 11:01am
Quoting chazzle
s 408 10 sl
whatever - next up 515?
  • #93,518
  • Jun 1, 2012 11:03am Jun 1, 2012 11:03am
added one at 2420
those who can, do. those who cant, talk about those who can
  • #93,519
  • Jun 1, 2012 11:05am Jun 1, 2012 11:05am
Quoting gatorinla
added one at 2420
reason, we just closed the h at 1418x.. bulls wanted 2420..
those who can, do. those who cant, talk about those who can
  • #93,520
  • Jun 1, 2012 11:07am Jun 1, 2012 11:07am
Quoting gatorinla
reason, we just closed the h at 1418x.. bulls wanted 2420..
long or short?
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