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    • waleed.khan replied Apr 25, 2014

      Well depends... The push up was considerable on the daily chart; and it seems like a bullish hammer is in; so this could be the start of a new trend up and if that is the case then yes definitely 1310 will be taken out, but i would keep an eye out ...

      Only Gold!
    • waleed.khan replied Apr 25, 2014

      My chart looks very similar to yours... I changed sides once price hit 1297..& indeed 1301 is crucial (it must break as 200 sma is there...) What are your tp expectations...1310 or 1330 or do you think this trend can ride to 1394 like last times ...

      Only Gold!
    • waleed.khan replied Apr 24, 2014

      True! I read somewhere or was it Jesse Livermore (i don't remember?) but its said that traders tend to lose most [and if not more] of what they have earned during the trend, towards the end of a trend! It is clearly a wait and see situation right ...

      Only Gold!
    • waleed.khan replied Apr 24, 2014

      I could never ever have bought at those levels and then sell at 1299...That is against the trend trading; which people are more likely to lose than win. One might get lucky a few times but in the long run trying to catch tops and bottoms is a losing ...

      Only Gold!
    • waleed.khan replied Apr 24, 2014

      Cold war tactics... Russia sends fighter jets in drills along the border (retaliating to nato drills) Quite ironically gold hit its 50% fib level of retracement too... (algo trading???)

      Only Gold!
    • waleed.khan replied Apr 24, 2014

      There still seems to be a lot of momentum towards the sell; as prices keep bouncing off the 23.6% fib level retracement and have yet to hit the 38 and 50% levels on the 5 minute chart! I expect 1263 touch at reports if we keep hitting the 23.6% ...

      Only Gold!
    • waleed.khan replied Apr 24, 2014

      A bearish hammer on the hourly chart might push gold prices lower in the near short term or if it doesn't break the lower trend line then then PA could reverse and go the other way too...

      Only Gold!
    • waleed.khan replied Apr 23, 2014

      Indeed it should... but gold just seems to have gulped the news down, whereas all other pairs are reacting (look at EURUSD) for instance! The shooting star on 4hr chart looks dangerous. If Gold does not rise today; it is headed down to 1262 - 1250 ...

      Only Gold!
    • waleed.khan replied Apr 22, 2014

      Indeed... Hence one should scale into shorts for a nice swing trade! Cheers! [edit] * I am short term long though... entry 1289, SL 1288 profit target 1295/1300/1305... Quick scalp (light trade)

      Only Gold!