Gold Daytraders

Joules MM1 · 22 August 2015

AverageJoe said:
Did he also advice never to take things for granted? Silver just hit that resistance and rotated back down. I sure hope Gold do not follow its poor cousin as I bought some more gold stocks today!

1162.68 gold could be a tough level to close above

did he also advise to check the details.....oh, yes

for example: $DX

AverageJoe · 22 August 2015

Joules MM1 said:
did he also advise to check the details.....oh, yes

for example: $DX

View attachment 63954

Some of these intermarket stuff can be noise I don't need. I have decided before a trade where the exit points are when trade triggered. When money is at stake I can't think constructively so a planned strategy works best with me.

A good example was yesterday EURJPY long. I had my final target but the chart "looked" like price could continue to move up. And what did I do? Move the target profit up then thought it was smart to drill down to 5m and manage. Ended up shaken by the small time noise for a slight worse off exit by 5 pips only to realise if I waited another 5 mins, it would have shot up another 30 pips from my final exit level. I should have just followed the initial plan and got my objective.

Same thing happened on the Silver short before this, messed with the final target price and came out slightly worse off again. So this evening, I left the Fiber to do its own thing even though it is already way into the NYOpen session and got my target so the third trade was the one that met objective.

Only way for me is not to look at the trade so I trawl around forum to kill time! LOL

Have a good weekend.

Joules MM1 · 22 August 2015

AverageJoe said:
Some of these intermarket stuff can be noise I don't need.

Only way for me is not to look at the trade so I trawl around forum to kill time! LOL

Have a good weekend.

lol, too much "copper" mate : ....that site'll do ya head in

have a good weekend, too, AJ

AverageJoe · 22 August 2015

Joules MM1 said:
lol, too much "copper" mate : ....that site'll do ya head in

have a good weekend, too, AJ

Looks like this forum is taking a bit of my time too!

Joules MM1 · 25 August 2015

AverageJoe said:
Looks like this forum is taking a bit of my time too!

the most amazing few sessions have been a top distraction

silver taken a lot of heat w equities kickers and still holding its zone and gold prob saw several accounts readjust for equity demands so even tho $DX has take a smashing gold has failed to zoom....once speccie money comes back in i'd expect to see us lift again

in the meantime, equities, too mean for many,

don't go gentle into that good night

....and mind your heads on the bounce

AverageJoe · 26 August 2015

Joules MM1 said:
silver taken a lot of heat w equities kickers and still holding its zone and gold prob saw several accounts readjust for equity demands so even tho $DX has take a smashing gold has failed to zoom....once speccie money comes back in i'd expect to see us lift again

in the meantime, equities, too mean for many,
....and mind your heads on the bounce

Silver is worse than I thought. There is a strong support but I am not sure if it can hold this week. If you catch the 'falling knives' on gold stocks then let any good company fundamentals play out to attract the bargain hunters in time. I am not into bottom picking but if the fundamentals are compelling I just fire the buy and wait. Margins of course has to be calculated in AUD terms or else I am not interested.

Joules MM1 · 26 August 2015

AverageJoe said:
Silver is worse than I thought. There is a strong support but I am not sure if it can hold this week. If you catch the 'falling knives' on gold stocks then let any good company fundamentals play out to attract the bargain hunters in time. I am not into bottom picking but if the fundamentals are compelling I just fire the buy and wait. Margins of course has to be calculated in AUD terms or else I am not interested.

keep at hand the idea that for all the selling an account is soaking supply....keep at hand that there is a point of extreme emotive logic of flipping from one position to the next.....someone sells at the low and someone is buying at that level.....is the current low swing a buy point for silver....what's the propensity/history of price being bought up when everyone is giving up at major daily lows?

levels are levels

indexes are going thru their best whack period in a very long time..

Joules MM1 · 26 August 2015

mister Ash said:

http://www.asiaonthebid.com/content...are-getting-excited-again-but-is-it-too-early

pics you can actually see !

AverageJoe · 26 August 2015

Joules MM1 said:
keep at hand the idea that for all the selling an account is soaking supply....keep at hand that there is a point of extreme emotive logic of flipping from one position to the next.....someone sells at the low and someone is buying at that level.....is the current low swing a buy point for silver....what's the propensity/history of price being bought up when everyone is giving up at major daily lows?

levels are levels

indexes are going thru their best whack period in a very long time..

No counter trend play for me, does not suit my trading personality. The Fiber/Cable is leading the way with the sell off back to a USD strength and Rate rise expectations again. Side lines for me.

Joules MM1 · 26 August 2015

AverageJoe said:
No counter trend play for me, does not suit my trading personality. The Fiber/Cable is leading the way with the sell off back to a USD strength and Rate rise expectations again. Side lines for me.

fair enough

silver is at the put-up or shut-up line already .....forget the rate rise, aint gunna happen...
equities suddenly looking steady a she rises .....

gold can still slink around here for a while and looks fairly mod pullback for mine

Joules MM1 · 26 August 2015

$SILVER

made anew weekly low today .......i suspect a giant shake

bought the low swing ....this'll be interesting given the bullish tone equities have today

http://finviz.com/futures_charts.ashx?t=SI&p=d1 (see it here)

metals parallel with $DX ? ......sometimes they run together for several months

Joules MM1 · 27 August 2015

Joules MM1 said:
$SILVER

made anew weekly low today .......i suspect a giant shake

bought the low swing ....this'll be interesting given the bullish tone equities have today

http://finviz.com/futures_charts.ashx?t=SI&p=d1 (see it here)

metals parallel with $DX ? ......sometimes they run together for several months

i was wrong, had a tiny swing but made a run of the mill few cents and immediately ran out of bids
much like downtrends tend to do.....STO at 14.12's the downside opens up 13.63's and 13.03's

remain long xauusd

Joules MM1 · 27 August 2015

i've been distracting myself with attention on indexes and trading metals like a brain surgeon with welding gloves

closed STO on #silver, remain BTO #xauusd

AverageJoe · 27 August 2015

Silver is the ultimate collapse in price after that huge run up on the monthly. I am just looking for a short here. A possibility is to play a retrace on price running up on yesterday's bear bar break. Risky as the pullback is shallow and could quite easily shoot through resistance. I think I'll let this one go for the time being.

Joules MM1 · 28 August 2015

AverageJoe said:
Silver is the ultimate collapse in price.....

be a lot of retailers thinking that same thing.....prob a few mid-level managers being caught in a tight squeez after the weekly low taken out

slow to take off there's plenty of reversal energy there now....will need a cupla days to prove but longs looks good again

on this chart gold has retraced back to the 50% zone....that seems normal return area to me

arrows=BTO

14.92's next hurdle for $SILVER .....

--------------------------------

U.S. second-quarter GDP revised to show larger 3.7% gain

Published: Aug 27, 2015 8:30 a.m. ET

http://www.marketwatch.com/story/us...to-show-larger-37-gain-2015-08-27?siteid=bnbh

inflationary swell in a falling tide?

AverageJoe · 28 August 2015

Joules MM1 said:
on this chart gold has retraced back to the 50% zone....that seems normal return area to me

Yes I got that fib level too but I just look left to right and I see a big trend down so I suspect it is only temporary in nature. However if it can for a higher base from here then maybe the start of a reversal.

Not tradable for me in between levels.

Uncle Festivus · 8 March 2016

Another wedge to break out of?

The risk-on trade looks to be running out of steam so back to risk-off for another surge higher?

Joules MM1 · 27 March 2016

the "where is it heading" thread has an abundance of the usual topique du waffle

and .......this thread....

"just because there have been no complaints doesnt mean everyone's happy with their parachutes..."

quite so, Benny Hill, quite so

Uncle Festivus · 28 March 2016

Joules MM1 said:
the "where is it heading" thread has an abundance of the usual topique du waffle

In the absence of any posts at all then contributing something is at least an opinion?

Joules MM1 said:
and .......this thread....

"just because there have been no complaints doesnt mean everyone's happy with their parachutes..."

quite so, Benny Hill, quite so

You are/were the biggest contributor here - are you directing your comment to yourself? So what is your opinion?

“Both optimists and pessimists contribute to our society. The optimist invents the airplane and the pessimist the parachute.”

cynic · 29 March 2016

Joules MM1 said:
the "where is it heading" thread has an abundance of the usual topique du waffle

and .......this thread....

"just because there have been no complaints doesnt mean everyone's happy with their parachutes..."

quite so, Benny Hill, quite so

QuiteTrue.

My main complaint thus far has been your prolonged absence from posting to this thread. I haven't been game to enquire after regular posters in the "where are they now?" thread on account of last year's tragic event.

I am certain that I am not alone in saying that I am glad you're still with us.

As for pm's, given that I seldom trade them, I have a somewhat limited understanding of their price behaviours and that is the reason why I find contributions from posters like yourself so insightful.

Whilst I do also enjoy contributions from those leaning further towards the gold bug conspiracy theory end of the spectrum, I would hate to see this thread become imbalanced to the point of losing touch with reality. So Joules please, please keep posting your insights!

Come now! No need to be shy!

If you do this for me, I'll promise to be your best friend for the next two hours!!

Gold Daytraders

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