All Majors and Gold

Hi,

Now I need to reveal my trading platform and the chart what I see , since FF doesn't provide Xau/usd

There is what I see



Omg this is a 800 × 480 resolution Android MT4... well, that is what I see at my phone, on tablet is bigger, but on this I can be online very often...


Like I told it is a naked chard with max 1 MA. No reason to put more indicators there for me.
It is very easy to say an explanation AFTER the chart went on that direction, but I will explain how I am thinking.

Gold is not an intraday currency pair, like major ones, I would trade on weekly view or watch when both Eur and Usd are going to be weak, this should go strong.
If you take a look how much is the spread on this and how much is moving in 5 min, 1h than simply choose others for scalping at intraday.

Lets see:
From 6 aug you have a minor uptrend.
Around 12 -13 aug you had a pullback ( Monday Tuesday ), but wan't enough force to bypass that MA zone => uptrend should continue
And aug 19 back again.

This a perfect setup for me at Euro, many times traded like this, but needed fundamental confirmation too to trade with higher leverage!

There are a type of the non forex transactions which are starting Monday - Tuesday and they close at Friday.
Also bor bigger players there are the overnight fee, which they don't want to pay from Friday to Monday.
Sometimes you can see a gap at Eur/usd from Fiday to Monday even a 200 pip ( in this year I won one) thats why many are closing positions at Friday and re-take at Monday,Tuesday. G8, G20 meeting and whatever big events at week-end can push hardly.

If you see a currency pair acting like this: Monday and Tuesday slow up, Wednesday, Thursays up -up, than Friday at NY open to London close watch eyes for minor pullbacks Euro like 50-60 pips. If that doesn't happen and the price is pushed to the sky, than Monday will fall. Simple

If this chart would be Eur/usd I would expect a correction to 1355 even 1348 to continue the uptrend. But I don't know this gold thing, don't know how much is moving and when is moving (which news)
I would put 2x buy limit there in hope is one is filled ONLY AND ONLY IF FUNDAMENTALS IT CONFIRMS THE UPTREND!!!
- I wouldn't trade ever without watching the news, upcoming news release times, which hardly affects the currency pair.

For majors on this week this will be a mover:
Unemployment Claims http://www.forexfactory.com/calendar.php#detail=45512

I would close my intraday trades and hardly watch that news and his effects.

Also http://www.forexfactory.com/calendar.php#detail=44192 FOCM meetings interesting: sometimes 0 effect, sometimes just a little spike, and sometimes they are changing the trend instant. - thats why many EA fail and pure indicator systems fail and don't use any of them.

Because it is August and all big money makers are spending our money at exotic islands I don't trade with high leverage until 15 sept, because the movements are small a haotic.

Aug 1 - sept 15 is a Vacation
Dec 15- Jan 15 is a Vacation

You can try trading in this interval, but I see it is different. Many-many trade explorers shows a decreasing return and losses in this period!

Like I told I am watching gold to see what and why happens with other majors and understand why. The tread title says "All Majors and Gold" I took a risk to write here and meet new ppl

]

i have no problem anyone talk about other major pairs but my specialty is gold....write away, post charts and your view...it's pretty relax atmostphere

i myself can scalp or intraday trade gold...but people who are starting to trade gold they should by looking at d1 and w1 charts.

Agree 100% : if they want profit.

But they are novice and want actions so they will go to 1 min and 5 min charts Do you remember how it was when you have started?

I found a nice post here: http://www.forexfactory.com/showthre...40#post3576740

"The Majors daily range average from 100 to 250 points... Give me one good reason WHY you are unable to take 10 points from it everyday? "

I told in previous posts(for beginers): if you don't use ultra high leverage you can get with a little profit is hard to fail. But until you learn it is a long way and cost a lot of money, at least for me was expensive. Well, maybe not so expensive as the first 12 years of the school which gave a diploma, which worth nothing... but is not "lets click on mt4 platform 3x to get 1 million usd from 100 usd"

Hi everyone!Nice HSH pattern in H1 GOLD:

Yes... but it seems to maintain above 100 EMA???

guys

what's your view for gold .....

i myself still waiting for 141x level befoe re-evaluating my view

The Fed will likely taper...but just a bit...from $85 billion to $75 billion, as it does not want to upset markets. It really depends how U.S. home sales and unemployment figures print. The news has been mixed lately. Gold could sell off if U.S. news is uniformly good with taper hints from FOMC minutes, or it could just range higher with mixed news. It may be too early to see trend. In a few weeks, picture should be clearer.

http://www.bloomberg.com/news/2013-0...ring-bets.html

some ranging is needed ....certain key price points and resistance/support needs to be broken and stay broken for any price trend change or continuation....

fed tapers
what happens to money flow from emerging markets like india or brazil or asia....drop like crazy
will gold drop or will it actually rise as these countries will start to using gold as safe haven?
then after that september will have usa political back in business and will determine key things regarding taxes and interest rate increase and Bernake replacement decision
will gold then drop?
German election...how would EU do....
how would gold be reacting
Good times are a coming and will we be able to climb on for the roller coaster ride?

Instead of this:




I made this:



Congats to my performance )

Well, I still expecting to Euro have a pullback.

On Gold h1 doesn't looks good.
H4 depends: will reach the previous HH or will fall under HL.
I would close my position in profit now and I would wait the FOCM results.

here's my weekly view on gold


d1 zoomed for dates


this is first attempts on dates ....
be good please

Valid. I think shorts will be near 1,380.... 1375 has been a tough nut to crack

there is need of little bit help......
HOW ONE CAN IDENTIFY WHETHER A JAPANESE CANDLESTICK IS "HAMMER CANDLE" OR "HANGING MAN" CANDLESTICK? BECAUSE BOTH ARE IDENTICAL TO EACH OTHER.

See this picture

hi g ,

do you really think gold will head this lower in future ??





khizar javed

just update :
1346/44 need test or reject in near term. http://www.forexfactory.com/showthre...73#post6907673
fontu

that is my opinion...lower 1030.....needed support for the $2000 or higher

currently on hold on me trading
looking for break of 1344 for more downside
or else 141x break to the upside of at least 1550

usd news very positive and no reaction....i guess market is waiting for FOMC

10:00am
USD

Existing Home Sales


5.39M
5.15M
5.06M




10:30am
USD

Crude Oil Inventories


-1.4M
-1.6M
-2.8M

Yes, the exact situation , little bias remain down now & need the initial confirmation there at top 1344/46.
fontu

now I'm on the short side,

targets:

XAG/USD: 20.x - 21.x
XAU/USD: 130x - 131x