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CL Redux
- Thread starter schizo
- Start date
unbelievable -- after shorting, and shorting, and coming away with a bunch of breakevens, i don't short the last bar and there's the pop i was looking for... will try .16
ADD and out .18 ... what a frustrating afternoon. was up over 120 ticks and now only up about 90 again. I can snatch defeat from the jaws of victory during moves like this is seems.
ADD and out .18 ... what a frustrating afternoon. was up over 120 ticks and now only up about 90 again. I can snatch defeat from the jaws of victory during moves like this is seems.
Quote from DonCorleone:
JD, to answer your earlier question...
yes, there was that 20ema on 5 min chart. but i didnt know that til later. what i based my trade on at that moment was one of my fib retracement levels i had drawn in previously. it was right at 82.6 so as i saw the price hesitate there i took it on the long side. i hope that helps.
Thanks buddy -- I see that now, right at 38.2 to the dot. Add the EMA buyers and I suppose that's a recipe for a good long!
Unfortunately I did not buy in the 50's, as there were lower high's, and price had that "rolling over" look to it ... I saw the buying come in, but I thought it might be a fake up, before a move down. Actually, I should say that I DID buy, but it was too early and did not hold onto it (I was about 20 minutes too early, and bought again 10 minutes later). Did not persist and buy again as I probably should have.
By the way, I did not see your posts until just now--I think sometimes ET does not show the post immediately for some reason ..
I must say that this afternoon's losses by me was a classic example of "knowing" what is going to happen (I use that term loosely because no one knows), per my post about the "if it gets below .25, it's had it's last hoorah" ... yet, actually losing money while trying to follow what I said! It's classic--the analysis was correct, yet I did not capitalize. I think I was spoiled by the fast activity earlier today, and I began to expect price to move in my favor 50 ticks with no retracements. Unfortunately I lost money, while having the correct premise. While my downside target was .53, and we actually got to 82.00, I should have EASILY made money and finished even more up today.
http://www.bloomberg.com/news/2011-...st-weekly-run-since-2007-on-haven-demand.html
Gold Tops $1,880 in Longest Weekly Rally Since â07
"<b>Gold is the currency of the world at the moment, with the world convinced that the monetary and fiscal authorities are likely to do nothing right and everything wrong when it comes to resolving the worldâs current fiscal problems </b>,â Dennis Gartman, the economist who correctly forecast 2008âs commodities slump, said in his daily Gartman Letter today.
"<b>.Medium term </b>- the disorder of the global monetary system
<b> and long-term </b> -inflation threat will amplify goldâs nature as a currency and an inflation hedge,â
said Cai Hongyu, an analyst at China International Capital Corp., the countryâs biggest investment bank.
Gold Tops $1,880 in Longest Weekly Rally Since â07
"<b>Gold is the currency of the world at the moment, with the world convinced that the monetary and fiscal authorities are likely to do nothing right and everything wrong when it comes to resolving the worldâs current fiscal problems </b>,â Dennis Gartman, the economist who correctly forecast 2008âs commodities slump, said in his daily Gartman Letter today.
"<b>.Medium term </b>- the disorder of the global monetary system
<b> and long-term </b> -inflation threat will amplify goldâs nature as a currency and an inflation hedge,â
said Cai Hongyu, an analyst at China International Capital Corp., the countryâs biggest investment bank.
Short 82.10