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  • #3,521
  • Feb 12, 2014 4:28pm Feb 12, 2014 4:28pm
Silver

Srt
Resistance is really tough...

Olu
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If you think you can or cannot do it you are correct
  • #3,522
  • Feb 12, 2014 6:20pm Feb 12, 2014 6:20pm
Quoting Olu
Silver Srt Resistance is really tough... Olu {image}
Olu,

I agree 100%. Every time I think it might get through it gets pushed back down. Today it managed to push to 20.39 which is higher than the 20.28 it's been having a problem with. Maybe eating up some sell orders.
Look at how many times this area has provided support/resistance.
Even knowing this, I added today :-)
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  • #3,523
  • Feb 13, 2014 12:06am Feb 13, 2014 12:06am
Quoting Olu
Euro - update to post 3515 {image}
I am bearish $. IMHO, I think we will see now a retrace but bears will resume till at least the 80 region. euro is weak so I m not sure how much it will benefit from the weak $. I am waiting for a chance to jump into bull Gold, Dow and cable.
  • #3,524
  • Feb 13, 2014 2:20am Feb 13, 2014 2:20am
Quoting Olu
Euro - update to post 3515 {image}

update to post 3520

Had a nice short position going on yesterday. Woke up this morning to see it all gone! Was thinking this was the start of the downmove where I would be adding all the way on the downside. Now the euro is looking bullish. Go figure

Off to work...

Olu
If you think you can or cannot do it you are correct
  • #3,525
  • Feb 13, 2014 1:50pm Feb 13, 2014 1:50pm
Quoting srt
{quote} Olu, I agree 100%. Every time I think it might get through it gets pushed back down. Today it managed to push to 20.39 which is higher than the 20.28 it's been having a problem with. Maybe eating up some sell orders. Look at how many times this area has provided support/resistance. Even knowing this, I added today :-) {image}
Silver Watch

Silver lagged behind gold today as we had a more impulsive move up while silver is still in the channel (only just though). Will we get it tomorrow?

Olu
If you think you can or cannot do it you are correct
  • #3,526
  • Feb 13, 2014 2:29pm Feb 13, 2014 2:29pm
Dollar Index
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If you think you can or cannot do it you are correct
  • #3,527
  • Feb 13, 2014 5:24pm Feb 13, 2014 5:24pm
Quoting Olu
{quote} Silver Watch Silver lagged behind gold today as we had a more impulsive move up while silver is still in the channel (only just though). Will we get it tomorrow? Olu
Hi guys,
IMHO Silvers big brother is doing all the grunt work here. Once people believe that Gold is back in an uptrend then silver will really catch a bid and will move probably too quick for a lot of people to get on board for an optimal entry.
Silver was never going to lead the PM's out of this downtrend. Silver is very volatile and we will witness this soon enough once everyone realises we are going up again.
Massive potential this year in these two trades alone.
Good trading guys
  • #3,528
  • Feb 13, 2014 5:40pm Feb 13, 2014 5:40pm
Quoting mypipbull
{quote} Hi guys, IMHO Silvers big brother is doing all the grunt work here. Once people believe that Gold is back in an uptrend then silver will really catch a bid and will move probably too quick for a lot of people to get on board for an optimal entry. Silver was never going to lead the PM's out of this downtrend. Silver is very volatile and we will witness this soon enough once everyone realises we are going up again. Massive potential this year in these two trades alone. Good trading guys
  • #3,529
  • Feb 13, 2014 6:25pm Feb 13, 2014 6:25pm
Quoting mypipbull
{quote} Hi guys, IMHO Silvers big brother is doing all the grunt work here. Once people believe that Gold is back in an uptrend then silver will really catch a bid and will move probably too quick for a lot of people to get on board for an optimal entry. Silver was never going to lead the PM's out of this downtrend. Silver is very volatile and we will witness this soon enough once everyone realises we are going up again. Massive potential this year in these two trades alone. Good trading guys
What price should we get into silver ?
  • #3,530
  • Feb 13, 2014 7:18pm Feb 13, 2014 7:18pm
Quoting trexy123
{quote} What price should we get into silver ?
Tough question 19 would be nice!
I can't answer that for you. Depends on how you trade. Depends how close you want your stoploss to market action. Depends how high you think its going to go. As I type looks like we are breaking 20.60.....this could be a false breakout but I suspect not.
If you have a strong conviction about direction in any market I think you should use wide stops (and perhaps loosen your risk tolerance) but that's just me.

Good trading
  • #3,531
  • Feb 14, 2014 2:28am Feb 14, 2014 2:28am
Quoting srt
{quote} Olu, I agree 100%. Every time I think it might get through it gets pushed back down. Today it managed to push to 20.39 which is higher than the 20.28 it's been having a problem with. Maybe eating up some sell orders. Look at how many times this area has provided support/resistance. Even knowing this, I added today :-) {image}

Well done Srt. You stuck to your plan and it came through. Past 21.00 we could get more upside as the traders holding back (quoting MPB) join the party

Olu
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If you think you can or cannot do it you are correct
  • #3,532
  • Feb 14, 2014 3:08am Feb 14, 2014 3:08am
I agree Olu, the best thing is if you have enough capital to stick to the big picture.
  • #3,533
  • Feb 14, 2014 2:47pm Feb 14, 2014 2:47pm
Hi Readers of the thread

I have had a torrid week and I am glad the week is over. I have not made any money this week In fact early on in the week I made some but gave it all back and then some. So I will be fresh for the coming week i.e do a reset. I will be sharing my game plan and observations as usual on Sunday not saturday.

Olu
If you think you can or cannot do it you are correct
  • #3,534
  • Feb 14, 2014 6:09pm Feb 14, 2014 6:09pm
Quoting Olu
{quote} Well done Srt. You stuck to your plan and it came through. Past 21.00 we could get more upside as the traders holding back (quoting MPB) join the party Olu {image}
Thanks Olu.

It could have tanked @ resistance just as easily so maybe I was just lucky :-)
I'm not good @ chasing markets so I didn't want to miss the large move I thought was coming.
I think today begins a big trend reversal but a few more trading days will tell if it holds.
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  • #3,535
  • Feb 14, 2014 6:11pm Feb 14, 2014 6:11pm
Quoting Olu
Hi Readers of the thread I have had a torrid week and I am glad the week is over. I have not made any money this week In fact early on in the week I made some but gave it all back and then some. So I will be fresh for the coming week i.e do a reset. I will be sharing my game plan and observations as usual on Sunday not saturday. Olu
Sorry to hear about a rough week. We've all had plenty or we're not traders.
Good thing is you get to start at zero again Monday.
Enjoy the weekend!
  • #3,536
  • Feb 16, 2014 6:21am Feb 16, 2014 6:21am
Yes Olu, you do very well by resting and looking forward. This trading. You have experience and u do good analysis and MM( thats my impression about your,), so you will recover and make more. Plz share ur view as alawys,i learn alot from u. Cheers
  • #3,537
  • Feb 16, 2014 6:33am Feb 16, 2014 6:33am
Guys have you got a view on gbpusd?
  • #3,538
  • Feb 16, 2014 11:04am Feb 16, 2014 11:04am
Quoting trexy123
Guys have you got a view on gbpusd?
Right now, Sterling is at major resistance against both the dollar and euro in addition to being very overbought. I suspect that a near-term continuation is dependent on above consensus inflation (tuesday) and employment figures (wednesday).
Twitter - @Jimbaloo
  • #3,539
  • Feb 16, 2014 12:23pm Feb 16, 2014 12:23pm
Quoting trexy123
Guys have you got a view on gbpusd?
I think the real trade in the eurusd, audusd, gbpusd, nzdusd is to the downside. We might need to wait out a bit of more upside. The $ has been massively hammered and a turn is round the corner
If you think you can or cannot do it you are correct
  • #3,540
  • Feb 16, 2014 2:04pm Feb 16, 2014 2:04pm
DXY has room to fall by an additional 0.4pp before it hits support and becomes oversold, in a strict sense.
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GDP growth and PMI figures in the eurozone have recently surprised on the upside. The ECB has also signaled that MP is likely to stay unchanged unless persistent disinflation becomes the reality in core countries.
Attached Image (click to enlarge)
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A double bottom has formed on the daily chart which if triggered (res around 1.371) signals a move to at least 1.39.
Twitter - @Jimbaloo
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