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You're right. The SL or TC is there to give us a relative clue as to our relative position. If you notice my hinge in red, the price refused to continue down on two occasions. Once around 85 and then around 85.53. Both these showed that the buyers when they lowered bids weren't getting hits...

I have looked at it, usually using hourly and then going for the longer term trade. However, the practical aspect of it has been that once I start focusing on 1 min or so, I end up exiting based on it as well. Using the hourly is a bit better and can be used to enter longer term positions a...

The daily is in view today. The price tried a BO above the hinge that failed, but on the way down couldn't go below the apex of the hinge. The price after bouncing at the hinge with buyers coming it to support it is rising out above. 88 was a potentially risky level which has now been...

I was using hourly chart, but looking at the 5 mins revealed the same thing, that price was having trouble going down. I don't like to sit there when price isn't moving in my direction. Today's was a net profit trade of $2.5 :). I had to wait close to two weeks to get a chance for entry, but...

I exited as price is stuck in a range and I don't want to sit here to find out which side wins the battle. My anticipation was to the downside which didn't pan out, even though price isn't going up much either. In the absence of price not doing what I had expected it to do I am going to...

Q's hourly have given a short signal. I'll be looking into getting in now. In case price refuses to go down of course a scratch will be the case. Gringo Edit1: Demand is seems serious. I am close to exiting if a weakness doesn't show up soon.

When looking at price from the beginning of this bull market i.e., from Mar 2009, we can see that price has been on an upward trajectory. The red trend channel represents this longer term bull trend. Currently price has broken the DL of the more aggressive upward sloping trend channel. We are...

NQ hourly has breached the DL but not convincingly. Just because a line is broken doesn't mean it's because of weakness. This appears to be broken in time, while the price was moving sideways. So far, the buyers are willing to bid prices up and are holding 1610. I am keeping an eye on this...

QQQ are closer to the trend line of the downward sloping trend channel. There's also a hinge highlighting the indecision of the buyers and sellers. I haven't been able to find anything clear enough to take a position. Perhaps it's the May blues or perhaps it's just a brief rest. What I am...

So what's your verdict regarding the direction of gold and bond for the month of May? The numbers are out.

Price didn't continue down and I got tired of sitting. Scratch. NQ 3570 area held where the buyers came in. To me it seems the traders are not certain what's in the books and I only follow them. If the leaders are unsure, what's a follower to do? I would rather sit out and enjoy the day...

NQ has a RET now. In case price weakens it becomes a short. Q's are similar. If buyers are not willing to bid price up, higher than the previous swing high, and start lowering their bid, it would be a sign to get ready for the downside. On the other hand if buyers are willing to raise their...

When you took your long above the range I went long there as well. Then I realized I was getting sucked into the intra-day web. Then price started dropping so I got out. There is a lure to faster movement.

I did see an increase of 10% in my sim capital. I wonder where it came from. Gringo

Short Q's has been closed. I went long just looking at the strength price was showing. This is probably a shorter term trade. Edit: And short term it was. :)

Hourly: Q's jumped up in the morning and appeared to be gaining steam. I gave price some space to see whether it was a one last push up or a sustained increase in demand. As it turned out price dropped within an hour or so and was heading lower. Later price bounced up from the lows. A...

It's quite possible. Although, I don't pay attention to the fundamentals or the news much. If the fundamentals justify a weakness in gold, the buyers will lower their bids and sellers will have to chase them down. The trader will simply have to adjust to price moving in a different direction...

As noted above, the price is gold is bouncing at the mid of the 1200 to 1400 range. Whether the price decides to go up or down from here is something I am not privy to, but a rise here would warrant a trader to look upwards. Well, in a way the lack of down move the second time halting around...

Nothing much to do, other than wait and let it play out. Price is moving down one step at a time. It is finding some demand from buyers around the median of the trend channel. Gringo

QQQ is around the upper TC. The hourly broke DL, had a RET, and now is falling. This constitutes a short for me. Above the TC I won't stay short. Gringo