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  • #7,921
  • Jul 12, 2011 10:57pm Jul 12, 2011 10:57pm
OANDA platform about 1565.50
still positive in daily
positive in 4h
seems about to be positive in 1h
  • #7,922
  • Jul 12, 2011 11:30pm Jul 12, 2011 11:30pm
I have a Gold position open since 1520.. big question is, if I should take profits or keep it open.. maybe gold can resume back, before it goes up. But considering bernanke speech, we dont know. I think it can't hurt to keep it open, in the worst case I can keep it open until ir resumes back to 1600.. and Im not losing any money in interest because my AUDUSD open position generates positive interest and I pay gold interest and get a profit.

Only problem is if gold does what it did in the beginning of MAY, it went to 1575 and then went down for 2 months, with a bounce back to 1550 in the middle.
The Black Swan: The Impact of the Highly Improbable
  • #7,923
  • Jul 13, 2011 12:06am Jul 13, 2011 12:06am
Quoting lilpip
one day at a time.
daily monday
37.34
35.20-58
33.82

gold weekly
1566
1526
1486
monday
1549-53
1524
1495
with eye on 1515 response
tue silvr drop down and tested yearly breakout area of 34.64 with a close above quarterly and weekly trend guide 35.38-58.
monday gold broke through projected highs and came back for a close at projected highs 1553.
tues. 1557 gold close is above tue. projected highs and weekly highs of 1566.
Heres where it gets interesting.
1551 was the yearly projected highs and we know what silver did last year once we started off with a couple days closing above its yearly projected high of 21.89 last year and 34.64 this year.
We added the previous years range on top of the projected high price so we knew what area to take partials and reward ourselves.
first things first and see where our weekly close is at since we have our dailys giving us a heads up.
Back to getting interesting.
Normally price at new quarter start will rotate back to monthly or quarterly trend guide or pivot (which silver reached quarterly and gold did monthly) and then extend out.
In my book Its good to take partials from the 1496 area for reward and keep eyes open for 1577 area response.
gold daily
1579-81
1549
1531
  • #7,924
  • Edited 12:53am Jul 13, 2011 12:35am | Edited 12:53am
Quoting XTrade
LilPip,

Do you know how to do a screenshot?

We can walk you through the process so that you will now be able to post all the charts you want!
thanks for the offer and one day I will take you up on that as I would like to know how.
As far as my charts go theres nothing on them but candles.
Using the floor traders pivot I just keep in mind where price is at within each timeframes trend.
For example 1577 is projected highs for the month.
even though we have been heading north I would not be adding to but taking partials and watching this 1577 and daily highs area 1579-81 response (candle formations) on the 5 min. to see if she rotates back towards weekly pivot or starts trending from a yearly breakout.
almost forgot, we do also have quarterly highs at 1594 to contend with.
  • #7,925
  • Jul 13, 2011 2:38am Jul 13, 2011 2:38am
Nice uptrend. Target to reach previous high resistance.
Its a free ride now. Too bad i using oanada platform. Would like to keep the long and went for short term short at the red line.

Will it break these week or next week.....hmmm.
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  • #7,926
  • Jul 13, 2011 6:00am Jul 13, 2011 6:00am
Quoting jinsen
Nice uptrend. Target to reach previous high resistance.
Its a free ride now. Too bad i using oanada platform. Would like to keep the long and went for short term short at the red line.

Will it break these week or next week.....hmmm.
it does not allow hedge in a same account. you have to split your money into two accounts.
  • #7,927
  • Jul 13, 2011 7:20am Jul 13, 2011 7:20am
Quoting lilpip
tue silvr drop down and tested yearly breakout area of 34.64 with a close above quarterly and weekly trend guide 35.38-58.
monday gold broke through projected highs and came back for a close at projected highs 1553.
tues. 1557 gold close is above tue. projected highs and weekly highs of 1566.
Heres where it gets interesting.
1551 was the yearly projected highs and we know what silver did last year once we started off with a couple days closing above its yearly projected high of 21.89 last year and 34.64 this year.
We added the previous years range...
thanks for that daily! what's your view on Bernanke tonight? I still see a shoot up just because of that fundie
trading is my zen
  • #7,928
  • Jul 13, 2011 7:32am Jul 13, 2011 7:32am
Hi guy
From a well researched point of view, the best way to trade gold, silver or any stock markets is the most simplest and most profitable way out there. Buy on Monday, sell monday night, sell on friday and buy back on friday night. Do some backtesting and you will probably come up with around 89% success rate.
  • #7,929
  • Edited 8:19am Jul 13, 2011 7:55am | Edited 8:19am
Quoting whet412
Hi guy
From a well researched point of view, the best way to trade gold, silver or any stock markets is the most simplest and most profitable way out there. Buy on Monday, sell monday night, sell on friday and buy back on friday night. Do some backtesting and you will probably come up with around 89% success rate.

do you have data for gold and silver?

tia

beeb

edit - noting that you are in NZ does "morning" etc vary according to timezone?
  • #7,930
  • Jul 13, 2011 7:57am Jul 13, 2011 7:57am
Quoting whet412
Hi guy
From a well researched point of view, the best way to trade gold, silver or any stock markets is the most simplest and most profitable way out there. Buy on Monday, sell monday night, sell on friday and buy back on friday night. Do some backtesting and you will probably come up with around 89% success rate.
Since you had backtest. 89% is out of how many trade. Your backtest started from when?
  • #7,931
  • Jul 13, 2011 8:15am Jul 13, 2011 8:15am
Quoting whet412
Hi guy
....Buy on Monday, sell monday night, sell on friday and buy back on friday night......
Imho, i don't think anyone who's trading anything arround here: currencies or commodities will apply that, i know i wouldn't, there is no technical or any kind of analysis, it's just pure luck or russian roulette with the money.
  • #7,932
  • Jul 13, 2011 8:38am Jul 13, 2011 8:38am
New Highs on the way.

NZD H4 just surpassed SMA 50 resistance area, looking for 100 pct retracement.
AUD Next at bat.

Longs on both.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,933
  • Jul 13, 2011 8:39am Jul 13, 2011 8:39am
On Breakout target 1 1625 zone
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,934
  • Jul 13, 2011 8:43am Jul 13, 2011 8:43am
Since this is from researched point of view let's see some backup,
like backtest results, charts, dates, OHLCs etc.

One might Argue Buy monday, sell friday.


Quoting whet412
Hi guy
From a well researched point of view, the best way to trade gold, silver or any stock markets is the most simplest and most profitable way out there. Buy on Monday, sell monday night, sell on friday and buy back on friday night. Do some backtesting and you will probably come up with around 89% success rate.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #7,935
  • Jul 13, 2011 8:54am Jul 13, 2011 8:54am
Quoting XTrade
Since this is from researched point of view let's see some backup,
like backtest results, charts, dates, OHLCs etc.

One might Argue Buy monday, sell friday.

g'day XTrade - also note (s)he's in New Zealand, so what is Monday morning there etc etc....

beeb
  • #7,936
  • Jul 13, 2011 9:00am Jul 13, 2011 9:00am
Anyone here knows where we can watch live the testimony of Mr Bernanke, thx?
  • #7,937
  • Jul 13, 2011 9:08am Jul 13, 2011 9:08am
Interesting now, new high, new high. Only virtual money but I would say we going to see some correction soon before some bouncing around.

Either that or it is going for 1600.
  • #7,938
  • Jul 13, 2011 9:10am Jul 13, 2011 9:10am
Hi everyone,

QE3 is coming up and there you go gold is popping up. Print Bernanke, we love you...
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #7,939
  • Jul 13, 2011 9:12am Jul 13, 2011 9:12am
is feeling jazzy ............warm summer night with too much wine.

1612
1593
1579

1560

1547
1527
1514

IBFX's customised daily pivots - me loves 'em.
trading is my zen
  • #7,940
  • Jul 13, 2011 9:12am Jul 13, 2011 9:12am
Quoting Bootleger
Hi everyone,

QE3 is coming up...
I'm with you brother
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