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Trading For Those With a 9-5 Job

  • #3,101
  • Nov 27, 2013 8:39pm Nov 27, 2013 8:39pm
To all 9/5'rs,

I want to wish everyone a great Thanksgiving holiday...even if you do not celebrate our holiday...give thanks to your grand parents, parents, children, sisters, brothers, dear friends...we all need it.

Olu, I was watching your charts on coffee and I think we are at some support here, but I will wait for the turn higher...most likely when the turn occurs with options of course.

A great patience builder here with this market.

Always remember...nothing last forever !

Just be ready !

humble golfer
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  • #3,102
  • Nov 28, 2013 12:08am Nov 28, 2013 12:08am
Quoting Olu
Dollar Index {image}

Hi Olu, it looks like I missed a lot of your thoughts while I was not receiving an alert that there are posts on your thread. Yes, $ seems ready to continue the up trend. I positioned myself short gold and short euro and I was also in time for short crude. GBP is not yet ready-I do not see a price action signle so I am waiting for it. I think we will enjoy a nice catch this time. Cheers
  • #3,103
  • Nov 28, 2013 8:25am Nov 28, 2013 8:25am
Quoting golferfx
To all 9/5'rs, I want to wish everyone a great Thanksgiving holiday...even if you do not celebrate our holiday...give thanks to your grand parents, parents, children, sisters, brothers, dear friends...we all need it. Olu, I was watching your charts on coffee and I think we are at some support here, but I will wait for the turn higher...most likely when the turn occurs with options of course. A great patience builder here with this market. Always remember...nothing last forever ! Just be ready ! humble golfer {image} {image}

Thanks Golfer for your chart. Saying Coffee is a patience builder is an understatement. You need to have the patience of an angel to trade it from the long side - which is where the next major trend is

You have a great Thanksgiving Holiday and all who celebrate it. I am using these 2 days to chill out and recharge my trading batteries

Olu
If you think you can or cannot do it you are correct
  • #3,104
  • Nov 28, 2013 8:29am Nov 28, 2013 8:29am
Happy thanks giving day to Olu and all of you here on the post. We do not celebrate it here but I remember it from my days in Toronto (especially the shopping thing). Happy holidays to all.
  • #3,105
  • Nov 29, 2013 12:07am Nov 29, 2013 12:07am
The prices of $ is attacking again the 80,5. If this support doesn´t hold today then it will open the way to the bears till the 79.
  • #3,106
  • Nov 29, 2013 9:07am Nov 29, 2013 9:07am
Rehab you are so right...
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If you think you can or cannot do it you are correct
  • #3,107
  • Nov 29, 2013 1:31pm Nov 29, 2013 1:31pm
Quoting srt
{quote} Olu, yes that was a pretty ugly bearish candle last week. I think as long as the support area holds it may go higher but if it closes below the support box, then new lows probably ahead. Price bounced pretty nice today to close above the support area. {image}
Coffee:
Support area still holding. Strong move up today.
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  • #3,108
  • Nov 29, 2013 1:39pm Nov 29, 2013 1:39pm
Silver:
Possible move higher?
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  • #3,109
  • Nov 30, 2013 3:13pm Nov 30, 2013 3:13pm
Quoting srt
{quote} Coffee: Support area still holding. Strong move up today. {image}
Yes Srt holding support and a strong up day on Friday. Once we clear 112 then we could really rocket... We'll see what Monday brings

Olu
If you think you can or cannot do it you are correct
  • #3,110
  • Nov 30, 2013 3:17pm Nov 30, 2013 3:17pm
Quoting srt
Silver: Possible move higher? {image}
Srt

Silver and Gold are buddies and I think there is a possibility of some upside for Gold (hence Silver) however I am of the mind that the upmove will just be a better selling opportunity. In cases like this I tend to wait for the selling....

Olu
If you think you can or cannot do it you are correct
  • #3,111
  • Nov 30, 2013 7:46pm Nov 30, 2013 7:46pm
Any thoughts on selling Usdcad?
  • #3,112
  • Dec 1, 2013 7:10am Dec 1, 2013 7:10am
Quoting Olu
{quote} Srt Silver and Gold are buddies and I think there is a possibility of some upside for Gold (hence Silver) however I am of the mind that the upmove will just be a better selling opportunity. In cases like this I tend to wait for the selling.... Olu
Yes Olu, I might be early in this one. I probably shouldn't have posted it as this is more of a longer-term trade as I'll hold this one for months & will add if it goes lower. I agree that gold & silver are highly correlated but I chose silver since nearly 50% of silver is used for industrial needs but gold is mostly a currency with a bit used for jewelry so if prices go lower at least silver is being used up & if miners cut production with prices too low, the supply/demand will eventually push prices higher or stop the fall.

The weekly chart shows this is where price really started a move higher so maybe this area holds as support even if it moves a bit lower. We'll see.
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  • #3,113
  • Edited 1:38pm Dec 1, 2013 12:14pm | Edited 1:38pm
Quoting Olu
Rehab you are so right... {image} {image} {image}

both candles, the monthly and the weekly, are tricky how they closed. while monthly candle showing rejection of trend-support, weekly candle close showing that the rejection is weak!! But, if you add that the 80.5 support managed to hold on Friday, then $ probably is/will consolidate or as Olu says it will go up. I agree with SRT to wait for a selling opertunity on Gold (and oil). I will close my longs. last weak I did nice swings on both SRT: nice that you are puting charts for long-term trades, keep up sharing the nice work.
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  • #3,114
  • Dec 1, 2013 1:34pm Dec 1, 2013 1:34pm
Forgot to say that COT is showing that although Gold is not really at extreem, oil is at .
  • #3,115
  • Dec 1, 2013 5:22pm Dec 1, 2013 5:22pm
Quoting srt
{quote} Yes Olu, I might be early in this one. I probably shouldn't have posted it as this is more of a longer-term trade as I'll hold this one for months & will add if it goes lower. I agree that gold & silver are highly correlated but I chose silver since nearly 50% of silver is used for industrial needs but gold is mostly a currency with a bit used for jewelry so if prices go lower at least silver is being used up & if miners cut production with prices too low, the supply/demand will eventually push prices higher or stop the fall. The weekly...

Srt Thanks for the long term chart. It is leading me to think that the low is nearish and that the money move might be upwards. However till there is technical damage to the downtrend I cant be sure about getting long. I also agree that even though silver and gold are correlated there is less 'gaming' with silver than gold which has more diverse fundamentals than silver

Olu
If you think you can or cannot do it you are correct
  • #3,116
  • Dec 1, 2013 5:28pm Dec 1, 2013 5:28pm
Quoting trexy123
Any thoughts on selling Usdcad?

Hi Trexy123

I am not thinking of selling usdcad at the moment for 2 reasons

I am bulish US$ (probably foolishly so) looking for an upturn in the $ index
I am bearish crude oil hence weaker cad

Because of the above double whammy I am not in a mind to sell usdcad. If it falls I will be looking for buying opportunities for much higher prices

Olu
If you think you can or cannot do it you are correct
  • #3,117
  • Dec 1, 2013 5:30pm Dec 1, 2013 5:30pm
Quoting rehab
Forgot to say that COT is showing that although Gold is not really at extreem, oil is at .

I agree gold might have more downside. However there might be some upmove albeit temporary (imho) in store

Olu
If you think you can or cannot do it you are correct
  • #3,118
  • Dec 2, 2013 6:56am Dec 2, 2013 6:56am
We have a bounce in the Dollar Index. Is it for real?
Attached Image
If you think you can or cannot do it you are correct
  • #3,119
  • Dec 2, 2013 8:21am Dec 2, 2013 8:21am
Quoting Olu
We have a bounce in the Dollar Index. Is it for real? {image}
Happy Olu? you have been a faithful to $-bulls .
  • #3,120
  • Dec 2, 2013 8:29am Dec 2, 2013 8:29am
Quoting rehab
{quote} Happy Olu? you have been a faithful to $-bulls .

Rehab

I laughed out loud when I read your message. I put my hands up unashamedly a member of the Dollar Bulls League. I wont hesitate to sell it though if that is where the profit is.

Nice post...

Olu
If you think you can or cannot do it you are correct
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