Gold daily TF
EW
keep in mind: Gold tends to have extended wave 5's
EW
keep in mind: Gold tends to have extended wave 5's
Disliked{quote} covered the 3550 long position @ 3664 for +114 covered the 3565 long position @ 3664 for +99 fully short againIgnored
Disliked{quote} do again offset 30% of my long time shorts with a long position here @ 3645Ignored
Dislikedhttp://www.forexfactory.com/showthre...74#post7514974 @ 3565 (just bought) (offsetting 30% of the shorts) @ 3550 @ 3546 @ 3540 @ 3535 @ 3531 when we get extended move, I will offset further shorts (when all got triggered, I am net balanced) @ 3521 @ 3510 @ 3502 @ 3592 @ 3582 XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX covered @ 3653: the 3510 for +143 the 3521 for + 132 the 3531 for +122 the 3535 for +118 the 3540 for +113 the 3546 for +107 that leaves me 40% net short with my long term position some may...Ignored
Disliked{quote} Yes, thanks for the reply, it all makes sense to me and definitely see it happening. I still consider myself as a novice in trading, not long before I started trading full-time now. In my initial days, there were many nice people who helped me a lot, one very nice person Fx-Ray helped me a lot with my learning and understanding of how things work. Don't know why he left FF for some reason. I still consider myself in my learning phase. There is so much and so very interesting things to learn and I come across one everyday. About my Gold,...Ignored
QuoteDislikedToday also is an important day NFP, lets see how it pans out. As per my understanding, we can't repeat last months strong number and if we get an average number, we might see some weakness in the US Dollar overall, which can push the Gold a bit up as well.
Disliked{quote} I would say as investment Gold might be bad thing to buy. Margin gold is out of question its defenetly bad buy but even physical could be too early. If you are keeping physical for 5 years then yes ok that will work but expecting any profits sooner might be problem. Paper longs add nothing to gold price, as FED can print way more than those longs distribute them to JP or GS and they can dump it down on strong supply creation. Physical demand is also yet not important enough becouse west still has enough gold in banks to deliver all extensive...Ignored
Disliked{quote} will load more towards the 3588 to 3635 distribution zone PO long @ 3637 @ 3633 @ 3618 @ 3602 @ 3590 when all get triggered, I am fully neutral If further down, I will go eventually net longIgnored