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Noooo its still bullish lol atleast I hope it is...
......if my EW count is right then we are in 4th wave....and the structure is still developing.
choose a job you love and you will never have to work a day in your life
- Joined Feb 2011 | Status: Trader | 1,204 Posts
{quote} i would love to see your chart for a bull.....actually my anticipation is down to levels 1st about 1000 and then down to about 800 and then the bulls are going come crashing through the china porcelain shop...
anyways, if you're counting waves, wave 2 was actually a deep retracement to 61.8, so wave 4 should be shallow. also wave 3 is too short, it is only the 113 extension of the very low. hmm... wait i guess you're not doing daily, nvm....
edit: basically, im expecting a spike up with a gap up on monday to finish this swing. yesterdays bar was very bullish. the 38.2% retracement of structure is at 23.19, so im aiming for 23....
{quote} k lol.... i think silver (edit: well, SLW) still needs to get to around 23 before that happens, with a possible target of 24. Therefore gold is also bullish. I dont have a chart... well see whos right
choose a job you love and you will never have to work a day in your life
Welcome back unclezoot. I am not sure whether its a shark or not as this is not part of my thought process, however I am in this trade(ROW told me too 
). My stop is at 4500. its pretty close to my stops, but according to harmony it should be at its weakest point, but overall strength is up and row and I are playing with fire shorting down to 4180-4130 level. Down 44pips on 1 so far. Just working harmony. I'm stop out or profit
Row: still in it?
). My stop is at 4500. its pretty close to my stops, but according to harmony it should be at its weakest point, but overall strength is up and row and I are playing with fire shorting down to 4180-4130 level. Down 44pips on 1 so far. Just working harmony. I'm stop out or profitRow: still in it?
Empower Your Mind
Welcome back unclezoot. I am not sure whether its a shark or not as this is not part of my thought process, however I am in this trade(ROW told me too
- Joined Feb 2011 | Status: Trader | 1,204 Posts
{quote} I agree with about silver. 1st target fib 61%
unfortunately, silver and gold is positively correlated so one of us has to be wrong
if one goes up, then the other one does also, though they go up differently percentage-wise. may the best analysis win! (though i do think it might go down, but i don't think the high is quite in yet)cheers
edit: i actually use a custom tool i programmed (fibonacci circle + tangent s/r lines), and according to that the current high is significant, but I think there is an even more significant high higher up. I think this is a continuation move where it pauses and goes on
Welcome back unclezoot. I am not sure whether its a shark or not as this is not part of my thought process, however I am in this trade(ROW told me too
(Thanks for the feedback liemo)
By the way, did you see where that bearish Gartley I posted midweek ended up in the end?
I'm not listening to you anymore!
Seriously though, I only had a single trade open on that one (44 pips), and even if I had say 3 open (TP1: 38.2%CD, TP2: 62%CD, TP3: lower) and trade management, I'm not convinced I would have had a strategy enabling me to progressively lower stops based on fibonacci.i.e. I probably would have chickened out and taken the profit at the lower A leg I think
Any thoughts on stop losses generally?
haha.Harmony told me price went up to my target area I posted on that chart from last week , it did then it drop GOOD. I was exhausted and I forgot set my limit order and I was kicking myself, that next morning but other trades oh well.
We'll get'em next week. payback time. back to work have a good weekend traders
We'll get'em next week. payback time. back to work have a good weekend traders
Empower Your Mind
