As you move up to longer timeframes, the support and resistance areas become stronger. So the Daily will be more reliable than the 4H, and the weekly more than the daily and so on. 4H SR could be useful if you're trading intraday, but if you read ...

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Edit: You could fiddle that SR down to 77.50 and it would look more like a break-retest.....possible continuation. Hard to judge.

Gold Discussion

Malcolm... What's your take on the DXY's closure below weekly SR, proceeded by a bearish weekly pin, and taking into consideration that said pin was printed during Christmas? image

Gold Discussion

Also of interest, The DXY has failed to close above weekly SR following a bearish weekly pin at SR printed last week (admittedly, it was Christmas week). image image

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Saw some good looking stocks today. — Short TGRL and long DM (paper-trades) image image image image

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DXY looks the same only inverted....however, it's not at a "meaningful" SR zone to me, therefore a little questionable.

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I'm shorting facebook internet traffic first thing Sun. LOL>

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I hope everyone has a merry Christmas and a prosperous new year.

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aSandman and Kulu, Thanks for the suggestions earlier. Obviously I'm still trying to find "my way". I do like this quote however.

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Safety is on.

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Thanks Chris, Sunday gap has officially closed, now the question is, will it continue?

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image

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eurchf dropping like a stone for a sunday... bid 1.48.60 one hell of a stop hunt.

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If you like monthly pins, don't forget the usdcad. Two months ago. Still not violated. Lot's of action in oil and the Cad hasn't budged...I'm looking for a break--retest--continuation around 110.

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I hate that answer. LOL. I've succeeded in outlining a very vague 5 year plan, in consideration of how much experience plays a role. Hopefully 5 years from now I'll have a really nice track-record.

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Chris, Kind of a big question....When I look across my charts and find those really-big-turning-points, with daily pinbars, price will often head the right direction for 2-5 days, then come all the way back to test the pin. If I were lucky enough to ...

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euro..... — image

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That's why I'm smiling thinking about my (un-triggered) buy limit at 1.5029

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Stocks and gold have been mostly-positively correlated for most of the year, and the dollar vs gold and equities mostly-negatively correlated (-0.5). But if there is a true pattern (the kind you can exploit) it won't last forever, nothing does.

Gold Discussion

Am I the only one annoyed that whenever gold takes it's next dive it gives not even a hint? I'm looking to go long around the same area as Chris, but if it's gonna drop, I wouldn't mind an entry.

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