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  • #581
  • Aug 25, 2013 4:15am Aug 25, 2013 4:15am
The 30 Tnote - And they reckon Gold is in a bubble lol.

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  • #582
  • Sep 2, 2013 10:41pm Sep 2, 2013 10:41pm
Have been on holiday for the last few weeks. Back into things now.
  • #583
  • Sep 2, 2013 11:02pm Sep 2, 2013 11:02pm
Gold

We have seen some really nice moves to the upside of late. We did stop at obvious resistance and pullback as you would expect.

It's fair to say that many are seeing this pullback as the possible resumption of the downtrend and that's a reasonable assumption for the bears (and they may well be right).

However, this pullback looks pretty orderly and does not seem to reflect rapid selling and I think this is an important clue. The speed of market moves is an underrated aspect of chart reading IMHO. This combined with yesterday printing a nice bull reversal bar I am only seeing this as a pullback to buy. A bar this obvious is important because if it fails there will most likely be a new leg down. If it yields then the uptrend could really get away and probably break the 1425ish layer.


I have long orders on a break of this bar.
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  • #584
  • Sep 3, 2013 1:51am Sep 3, 2013 1:51am
Quoting mypipbull
Gold We have seen some really nice moves to the upside of late. We did stop at obvious resistance and pullback as you would expect. It's fair to say that many are seeing this pullback as the possible resumption of the downtrend and that's a reasonable assumption for the bears (and they may well be right). However, this pullback looks pretty orderly and does not seem to reflect rapid selling and I think this is an important clue. The speed of market moves is an underrated aspect of chart reading IMHO. This combined with yesterday printing a nice...
I think your orderly point is a good one, it does look like it has some strength pushing it, its at an interesting point on my chart, the 200 wma is acting as resistance with the 1418 area but its being supported by 20 wma, both ma's seem to have strength and flow in this market. also Aussie
is currently strong across the board atm imho. I suppose this weeks data and all the event news will have some bearing too, more upside ?

Hope your break was a good one..

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Memories caught in time but never forgotten
  • #585
  • Sep 3, 2013 1:52pm Sep 3, 2013 1:52pm
Quoting mypipbull
Have been on holiday for the last few weeks. Back into things now.

Welcome back MPB. I took a break as well. Now lets make some pips

Olu
If you think you can or cannot do it you are correct
  • #586
  • Sep 3, 2013 4:54pm Sep 3, 2013 4:54pm
Quoting j4d
{quote} I think your orderly point is a good one, it does look like it has some strength pushing it, its at an interesting point on my chart, the 200 wma is acting as resistance with the 1418 area but its being supported by 20 wma, both ma's seem to have strength and flow in this market. also Aussie is currently strong across the board atm imho. I suppose this weeks data and all the event news will have some bearing too, more upside ? Hope your break was a good one.
Every trading week is interesting these days
Break was really good. How was yours?
  • #587
  • Sep 3, 2013 4:55pm Sep 3, 2013 4:55pm
Quoting Olu
{quote} Welcome back MPB. I took a break as well. Now lets make some pips Olu
Thanks O, hope you enjoyed your time off too. Now get back to work!!
  • #588
  • Sep 4, 2013 12:31am Sep 4, 2013 12:31am
Soybeans - Short Opened

I shorted Soybeans this morning.
Weekly chart shows price at resistance level.
On the weekly chart Bar1 is a very clear shooting star tapping resistance and tanking.
On the daily it looks like we have tested again and failed.
Seasonal chart also favours the short side here.
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  • #589
  • Sep 4, 2013 2:14am Sep 4, 2013 2:14am
Quoting mypipbull
{quote} Every trading week is interesting these days Break was really good. How was yours?
You can say that again, mad year isnt it...

Holiday was great thanks, just what i and the family needed to be honest, problem is my kids all have post holiday blues..
when they were getting ready for school this morning Ive never known the house so quiet ..
Memories caught in time but never forgotten
  • #590
  • Sep 4, 2013 9:21pm Sep 4, 2013 9:21pm
Quoting j4d
{quote} You can say that again, mad year isnt it... Holiday was great thanks, just what i and the family needed to be honest, problem is my kids all have post holiday blues.. when they were getting ready for school this morning Ive never known the house so quiet ..
The kids don't know how easy they have it.....
  • #591
  • Sep 4, 2013 9:22pm Sep 4, 2013 9:22pm
Crude - Short Orders

This could be a volatile market given the 'war' risk but I got a short signal today.

This trade must be considered a counter trend trade as the prevailing trend is up. It does look to be struggling to get much higher. We did see a strong attempt that got knocked back pretty hard. I note COT favours the short side of this market. The signal is a bearish inside day. I see a resistance level respected here too. Price is in the upper end of the broader trend (sell high buy low). Although this is an early attempt I am happy to take this risk on at a reduced rate. This market can runaway very fast offering no pullbacks to sell (or buy to the upside), sometimes you have to anticipate moves with a little less confirmation. A break above will have me cancelling orders.
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  • #592
  • Sep 4, 2013 10:18pm Sep 4, 2013 10:18pm
USD/CHF - Short Orders


This is a basic little sell at the top of a range type trade. It is in-line with the larger trend but short term is countertrend. Selling a break.
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  • #593
  • Sep 5, 2013 5:17pm Sep 5, 2013 5:17pm
Quoting mypipbull
Crude - Short Orders
Orders cancelled. Going to wait for more evidence.
  • #594
  • Sep 5, 2013 5:22pm Sep 5, 2013 5:22pm
Quoting mypipbull
USD/CHF - Short Orders
Orders cancelled, yesterdays high blown away....should probably get long!
  • #595
  • Sep 5, 2013 5:52pm Sep 5, 2013 5:52pm
Quoting mypipbull
{quote} Orders cancelled, yesterdays high blown away....should probably get long!

I agree MPB long is the way forward on this one

Olu
If you think you can or cannot do it you are correct
  • #596
  • Sep 9, 2013 9:19pm Sep 9, 2013 9:19pm
Quoting mypipbull
Soybeans - Short Opened I shorted Soybeans this morning. Weekly chart shows price at resistance level. On the weekly chart Bar1 is a very clear shooting star tapping resistance and tanking. On the daily it looks like we have tested again and failed. Seasonal chart also favours the short side here. {image} {image} {image}
Stop lowered to just above recent High as shown.
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  • #597
  • Sep 9, 2013 9:22pm Sep 9, 2013 9:22pm
AUD/CAD & AUD/NZD - Long orders placed

I'm pretty bullish the AUD based on COT and also the current market structure unfolding.
Buy orders above Bar1 on both charts.
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  • #598
  • Sep 10, 2013 11:12pm Sep 10, 2013 11:12pm
EUR/USD - Short Orders

Shorting below the Low of Bar2 with SL above High of Bar1
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  • #599
  • Sep 11, 2013 8:46am Sep 11, 2013 8:46am
Quoting mypipbull
EUR/USD - Short Orders Shorting below the Low of Bar2 with SL above High of Bar1 {image}

I agree with this trade MPB. I was just about to put up something about this on my thread. Hope it works out for us. If it elects. My reasons was the 3280 represents the 50% fib retracement of the initial downmove and price is having problems getting above there.

Olu
If you think you can or cannot do it you are correct
  • #600
  • Sep 11, 2013 9:09pm Sep 11, 2013 9:09pm
Quoting Olu
{quote} I agree with this trade MPB. I was just about to put up something about this on my thread. Hope it works out for us. If it elects. My reasons was the 3280 represents the 50% fib retracement of the initial downmove and price is having problems getting above there. Olu
Ended up cancelling these orders....big move up....will wait a little longer
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