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Magnetic Line Trading with KiwiOz

  • #721
  • Jul 17, 2014 6:01am Jul 17, 2014 6:01am
Bitcoin heading for 587.
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  • #722
  • Jul 17, 2014 6:03am Jul 17, 2014 6:03am
DAX.. I like the look of this set-up. I may be proved wrong but I do like the look of it.
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  • #723
  • Jul 17, 2014 6:12am Jul 17, 2014 6:12am
Quoting KiwiOz
DAX.. I like the look of this set-up. I may be proved wrong but I do like the look of it. {image}
On the 4H chart Dax has hit strong support, so if it is to turn North again, now is it's chance..
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  • #724
  • Jul 17, 2014 4:24pm Jul 17, 2014 4:24pm
Quoting magpietrader
I missed the gold TD line break earlier, but could be setting up for a retrace then move to target of 1320 {image}
Woke up this am to the Malaysian plane being shot down... and gold hitting it's target at 1320. SL was at 1295.42 with a manual entry before going to bed at 1301.96 for more than 2:1 risk. Still long for half the initial trade and SL moved to 1313.
Question for KiwiOz, what do you do overnight with stops - do you use trailing or just leave them static?

Cheers.
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  • #725
  • Jul 18, 2014 5:05am Jul 18, 2014 5:05am
Quoting magpietrader
{quote} Woke up this am to the Malaysian plane being shot down... and gold hitting it's target at 1320. SL was at 1295.42 with a manual entry before going to bed at 1301.96 for more than 2:1 risk. Still long for half the initial trade and SL moved to 1313. Question for KiwiOz, what do you do overnight with stops - do you use trailing or just leave them static? Cheers. {image}
I only use static stops, sometimes no stops. Pays to be sure of the direction before taking the trade. Cheers.
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  • #726
  • Jul 18, 2014 6:05am Jul 18, 2014 6:05am
Quoting KiwiOz
{quote} I only use static stops, sometimes no stops. Pays to be sure of the direction before taking the trade. Cheers.
"no stops"... Braver than me but cheers for the reply!

Currently short the ftse as there was a TD line break, plus LaGarde's (potentially) 'dreaded' 20th July coming up. Let's see what Monday looks like before confirmation of any conspiracies.

Have to say, thanks for the pdfs (did you write them?) and this thread, "Never rush a trade Make haste slowly" is a good thing to keep in mind and reminded me what my goals really are... I could write a book on the mental side of trading, as over the years 90% has been balanced and profitable, but the 10% can really spoil things if you let it... Good to be back into it again and have a good weekend!
  • #727
  • Jul 18, 2014 6:05am Jul 18, 2014 6:05am
Does anyone else see gold going for 1332 on 4hr?
  • #728
  • Jul 18, 2014 7:46am Jul 18, 2014 7:46am
Quoting the-game
Does anyone else see gold going for 1332 on 4hr?
Make that 1232 & I will say I do...
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  • #729
  • Jul 18, 2014 7:48am Jul 18, 2014 7:48am
Quoting magpietrader
{quote} "no stops"... Braver than me but cheers for the reply! Currently short the ftse as there was a TD line break, plus LaGarde's (potentially) 'dreaded' 20th July coming up. Let's see what Monday looks like before confirmation of any conspiracies. Have to say, thanks for the pdfs (did you write them?) and this thread, "Never rush a trade Make haste slowly" is a good thing to keep in mind and reminded me what my goals really are... I could write a book on the mental side of trading, as over the years 90% has been balanced and profitable, but...
Cheers mate....No the PDFs are from Tom Demark whose original system I base mine on..
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  • #730
  • Jul 18, 2014 7:48am Jul 18, 2014 7:48am
Quoting KiwiOz
{quote} Make that 1232 & I will say I do...
hey kiwi,,,,

plaaa load gold and silver recent chart plzzz
  • #731
  • Jul 18, 2014 8:04am Jul 18, 2014 8:04am
Quoting devang
{quote} hey kiwi,,,, plaaa load gold and silver recent chart plzzz
Cheers mate...
Gold appears headed for 1238...Should be a good trade so long as it does not turn & shoot through the resistance trend line.
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  • #732
  • Jul 18, 2014 8:08am Jul 18, 2014 8:08am
Ozzie is being an ar$$hole...Spiking worse than Gold... Should keep coming down now.
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  • #733
  • Jul 18, 2014 8:36am Jul 18, 2014 8:36am
Hi Ian,

That's how I see Gold. It is between two strong support/resistance areas.
Its obvious it has touched first target line (yellow) and its now heading for second target (magenta).

Happy Trades
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Focus only on what truly matters!
  • #734
  • Jul 18, 2014 8:54am Jul 18, 2014 8:54am
Additional to the 1H TF, if it can screw trough the yellow resistance line on 4H it will reach another 2 targets: 1330 and 1335.. after that again another resistance line waiting at 1339.. so Gold is struggeling today.

Happy Trades
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Focus only on what truly matters!
  • #735
  • Jul 20, 2014 10:01pm Jul 20, 2014 10:01pm
The commodities have been driving relentlessly North but this cannot go on forever & there are signs of exhaustion.
Signs of retracements are starting to show. The only question is how far down will the retracement go.?? I say retracement because I believe they all have much higher goals long term but retracements have happened in the past & will in the future. Only price action above the current highs will convince me to go long.
The S&P500 (SPX500) is a good example..
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  • #736
  • Jul 21, 2014 2:28am Jul 21, 2014 2:28am
Quoting KiwiOz
The commodities have been driving relentlessly North but this cannot go on forever & there are signs of exhaustion. Signs of retracements are starting to show. The only question is how far down will the retracement go.?? I say retracement because I believe they all have much higher goals long term but retracements have happened in the past & will in the future. Only price action above the current highs will convince me to go long. The S&P500 (SPX500) is a good example.. {image} {image} {image} {image}
Uhhh...hmmm Im long and holding...might break consolidation...Just a tought
Too Much Is Never Enough
  • #737
  • Jul 21, 2014 6:27pm Jul 21, 2014 6:27pm
Gold setting up in a triangle with odds in favour of an up move, however watch for the short on a break...
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  • #738
  • Jul 22, 2014 3:34am Jul 22, 2014 3:34am
weekly view on EUR/USD

IF ANY MISTAKE THEN PLEASE TELL ME KIWI
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  • #739
  • Jul 22, 2014 3:46am Jul 22, 2014 3:46am
Quoting devang
weekly view on EUR/USD IF ANY MISTAKE THEN PLEASE TELL ME KIWI {image}
Looks really good mate. I would also draw in the lines from the 1st wave. this will show you where a major retrace should happen. saves nasty surprises.
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  • #740
  • Jul 22, 2014 3:57am Jul 22, 2014 3:57am
Quoting KiwiOz
{quote} Looks really good mate. I would also draw in the lines from the 1st wave. this will show you where a major retrace should happen. saves nasty surprises. {image}
Hey Ian whats upp??
Too Much Is Never Enough
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