By the way, you should close those orders now while you have the opportunity. It looks like PA is going to fabulous new highs but its not - when PA reverses now it will go down relentlessly to 1330 then later to 1310. Trust me on this. Closing now ...

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

condolences again. Seriously though, you cannot be going to market with that kind of money. You are new in the market and you WILL lose money learning in the first year of trading. Even when you then increase your account capital to something larger ...

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

morfasie, here you go. this should clarify what i mean by a, b, c, d and e. Target price is in the blue zone and target date is Friday or next week. Just a projection - don't wager any money on it. Although it doesn't look like it, EW is actually ...

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

For anyone scalping and believing trend has turned down: we've had three waves today - (a) (b) and (c). Next a (d) wave can push back into the 1350s so don't spill your coffee!

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

Hahaha haaa! AUDUSD is now coming down to my "double top" shorts

Sultans of Swing

Good Luck, PT. You're doing this for the team - I know many traders who, like me, harbour seriously negative sentiments toward the indexes and you taking some profits off this raahted S&P will give us all joy!

Sultans of Swing

Sorry to hear that. Everyone here knows the feeling! 1) Stop trading for now and assess what happened. Write in your journal and formulate the rule(s) that will prevent this in future. 2) Read up about ending diagonals (ED) - they are quite common ...

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

oh my buddha! that's some powerful move... don't forget that it's 2 steps forward 1 step backward - there are willing sellers who will cash out as soon as price seems relatively overbought. Technically, i don't see 1420 as possible now because we ...

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

This is good advice since a correction usually happens in 3 waves - looking at the technical chart it seems 1330 is a good level for wave (a) to end, wave (b) to move upward and then finally wave (c) should breach 1330 to the downside and finish the ...

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

Sounds good. Good Luck . Looking at your chart, that is a beautiful wave going up - a bit raggedy with uncertainty but, still, it heralds great things to come..

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

I reckon it was just time - no news - no specific reason... I guess most of the drop till now is profit taking with the bears joining in. Once near 1330 PA should bounce and retrace - only then will the bears will capitulate - just my thoughts on ...

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

hi XTrade and friends, aw shucks... i really missed the ending diagonal blow-off by not heeding Ramses's advice to change my count. I was being over-exhuberant in my confidence that PA had turned down because I had 5 waves complete - and now look: ...

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

Rhodie, Fair enough, I must have misread your meaning first thing after I woke up... Sounds like things are really rough in the Republic of London! Sorry to hear that and I hope that damage and injury is limited.

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

good idea. the US data could see a spike up.

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

the market seems reluctant to let go of the highs and PA is drifting sideways even as the wave degrees are increasing in magnitude and latent power. I guess once the majority "click" that correction is underway and join in, PA should drop like ...

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

I misunderstood your post first time round - you wanted to know the reversal point going up, right? and i told you the wave top So what are you looking for in the NY session with regards to Gold? Any particular levels or PA move perhaps? I'm ...

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

Gold EW count update Hi all, As you know I've been focussing on Gold analysis and trades for a while. I've got Gold at the start of Intermediate wave 2 down (to 1310 area) and once complete - perhaps this week or next - we'll see the strange ...

Sultans of Swing

hi Islander, IMO the turning point (down) was the subsequent impulse high around 1354. I'm shorting this 2nd wave down to 1310 area. Probably a zigzag lasting a few days or the week - so multiple stints with a few long scalps too. edit: good - i ...

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

I just noticed that PA is repeating exactly the same wave pattern in M5 as it printed in M15 right at the start of this advance (wave 1/a) on my most recent chart) - if the pattern holds then we are about to go up in an impulse! Otherwise it may ...

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

hi fxjay, thanks for saying. (actually i thought my chart was too cluttered - but nice to know someone can read it!) I spent some time this morning making sense of what EW degree Gold may be in. To make a long story short, I believe we're in Cycle ...

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