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Daily Trading Strategies on Gold/Forex
- Thread starter Gold Trader
- Start date
current price @ 615.5
short @ 615.5
stop @ 618.5
target @ 608
short @ 615.5
stop @ 618.5
target @ 608
short @ 617.5
stop @ 621
target @ 608
stop @ 621
target @ 608
gosh ... the market is making fools of alot of people
yesterday late in the day I think at least 500 -1000 contracts
were sold late in the day ... pushing prices lower a few $$$
at the time they looked "smart"
with todays action I would think those sales are looking
"stupid" ....
I assume the funds reversed ...
yesterday late in the day I think at least 500 -1000 contracts
were sold late in the day ... pushing prices lower a few $$$
at the time they looked "smart"
with todays action I would think those sales are looking
"stupid" ....
I assume the funds reversed ...
Quote from SethArb:
gosh ... the market is making fools of alot of people
yesterday late in the day I think at least 500 -1000 contracts
were sold late in the day ... pushing prices lower a few $$$
at the time they looked "smart"
with todays action I would think those sales are looking
"stupid" ....
I assume the funds reversed ...
The market is there to fool most of the people. To be honest, i thoguht crude was the one who should have a move like that, and yet crude is going nowhere.
Quote from SethArb:
gosh ... the market is making fools of alot of people
yesterday late in the day I think at least 500 -1000 contracts
were sold late in the day ... pushing prices lower a few $$$
at the time they looked "smart"
with todays action I would think those sales are looking
"stupid" ....
I assume the funds reversed ...
yes. you are right.
in fact, people should make a lot of money today.
but i dont think they would. they would miss big part of the move in the beginning. they (i was included) would not realise until it is too late.
i tried to ignore my system signals. i was too obsessed with previous day's strong selling. and target with fib ret around 608.
but gold just retraced 23.6% and resumed the uptrend.
the best thing is whether it works or not, if we tested a system, we have to believe it and stick with it. we should not think too much.
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when it started i doubt about the strength.
early warning started to show direction change.
but i thought it would still be tranding range and thinking about possible bear flag. big mistake.
according to my system short positions should be closed out when we start to see early warning-blue and wait for buy signal to become blue, then long.
but we have been through sideways market for a week. so i just ignored it.
early warning started to show direction change.
but i thought it would still be tranding range and thinking about possible bear flag. big mistake.
according to my system short positions should be closed out when we start to see early warning-blue and wait for buy signal to become blue, then long.
but we have been through sideways market for a week. so i just ignored it.
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Quote from phil1424:
i just went long (GLD) @ 62.99. what do you think gold trader , good long term invest or not ? thanks
that is a very nice entry. bcos that is the breakout level.
in the weekly chart, trend started to change last a few days ago.
i hope once it is started it will be going very high. but of course, there will be intraday ups and downs.