Generally I have found the market often turns on the 3rd candle (40%), 4th candle (60%), 5th Candle (80%). On the 4 hr chart there still might be a little more room for the upside. A prominent wick is what will establish that the market is going to ...

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Agreed! Very gutsy buy call at 1277...at that point I was a bear! I only changed my view after the NFP and when it broke 1306 the first time around....super EGKID!

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The cup and handle has not matured fully as yet; eventhough this is spotted well, i think the bearish engulfing on the last top will never let it go up and breakthrough (atleast in the short and intermediate terms)

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image I think gold should move within these channels (as these also coincide with the 1316/1318 level of resistance). Untill or unless gold does not break these channels I'm holding my buys...

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I think the main issue and confusion has got to do with time frames...Hedge funds/ Investment banks operate with a very different mind set and they do position trades which often last anywhere 3 months to 1 year...So for them to say Gold will go ...

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everything is down today! the markets, usd index has fallen, even us bonds...Strange day?! the close of the 4 hr candle should determine near term direction (either above or below the spinning top)...Also on the 4 hr chart Gold should find support ...

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Awesome and wise suggestion...!its to hard to say...Its better to wait for 1306 break for confirmation i supose...

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I agree.. I think the next 4 hrs are crucial..there is a spinning top on the 4 hr chart...break on either side could take the market in either direction of your flag...but since it is closer to the top line plus 1300 resistance and plus as you ...

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Sure...but ill it break 1300 resistance first? or will it retest lower level then pull back?

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Sure...but ill it break 1300 resistance first? or will it retest lower level then pull back?

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Asian economies needing cash to inject in the economy should be bullish for gold... the speculation about china trying to boost their economy should be bullish...hence there is much uncertainty at this point about golds direction; but as I said ...

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Ofcourse... everyone has different ways.. i for one would never want to say short the daily but go long on the 15 min...the probability of those trades being successful is reduced. I only trade the daily, 4hr and 1hr charts, and I only like to take ...

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I agree.."hedging' is an ego thing...Its about not being wrong! I used to do that alot... Havn't done it lately! ciao

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p.s Have you considered twitter for the signals?

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thanks CT! This is a grt thread....Hopefully we all can gain from this... I'm going to sign up for the signals... thank you again.. have an awesome weekend -Cheers!

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Or maybe are you referring to R-multiples??

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LOL...i agree, I hear you... but i can't wait 3 to 10 years for that...I need a reason to go long for the medium/long term..quiet frankly there is none...except maybe if india in the near term lifts their quota's on imports of gold...other then ...

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You are right...but if you said that to me 2 years ago; I would definitely agree the the upper side has no limit...but now with the economy improving and possible interest rate hikes...Its gonna be super tough for gold to make new highs and start a ...

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Its the moment of truth.... :S

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thats a good philosophy? what do you think about keeping the 50 day sma as a benchmark...If above only take long trades and if below only short. there is some good filteration like this...plus a little more opportunity to trade..."controlled greed" ...

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