Gold Bullish or Bearish

[SunTrader 10]

There is demand for Gold in Asia, and Western Paper Gold is selling out....

Think you hit the nail on the head.

 

We will probably know the downtrend has resumed when Asia (the traders that is) start selling again and volume picks up.

 

Or London or New York. :shrug:

 

More likely all of the above.

[bobcollett 10]

http://www.traderslaboratory.com/forums/general-discussion/10302-picture-day-64.html#post183309

 

Hi Patuca

I see you got your photo on TL :haha::haha:

[bobcollett 10]

ASIA Gold sideways this morning

I have added an oscillator ,RSI , to my chart.

Now I dont think much about these techno things, but I hoped to find over bought conditions.

It shows that Gold has NOT been over bought for a year.

Does that make sense?

It also shows that at -20, Gold is a BUY, every time.

And it shows that it falls each time it touches the 50 line.

Can I trade using this info.?

Techno traders please help.

regards

bobc

PS Astro charts show TURN date yesterday for DOW & DAX

Expect a pullback.

The Germans are very into Astro trading. The last big TURN date... 22nd May saw the DAX fall sharply . I think Kuokom trades the DAX. Be careful Kuokom

[SunTrader 10]

I use RSI but with OB/OS levels of 60/40 but not actually to look for overbought/oversold conditions - instead as a trend identifier.

 

In an uptrend oscillator shouldn't (with minor exceptions) go below 40 and the flip side in downtrend (again with minor exceptions) shouldn't go above 60.

 

Exactly as your mentioned although you were keying in on the 50 mid level line.

 

How about this put an RSI with a length of 2, yes 2 and OB/OS of 95/5. The oscillator naturally flips back and forth rapidly so rather than include in the attached pic which would look skitterish on a years worth of data I have just added to price bars arrows on the day after, for say a 95 or higher OB or 5 or lower OS reading on Monday, arrow for entry is by Tuesday's bar.

 

Some were premature like any signal so of course I don't use this in isolation if I were to take the signal. Only when other factors confirm.

[Patuca 13]

http://www.traderslaboratory.com/forums/general-discussion/10302-picture-day-64.html#post183309

 

Hi Patuca

I see you got your photo on TL :haha::haha:

see what happens to bears in a bull market? Edited July 17, 2013 by Patuca

[Ammeo 10]

Gold selloff is really a significant event in the history of Gold trading. John Paulson made a big mistake this time betting that Gold will climb higher forever and he will pay for that mistake big money..

[Patuca 13]

Gold selloff is really a significant event in the history of Gold trading. John Paulson made a big mistake this time betting that Gold will climb higher forever and he will pay for that mistake big money..

..well i guess we all make mistakes...we all have to pay for our mistakes...well most of the time...however...before the story is over he may well end up vindicated...time will tell

[Patuca 13]

Possible long in es1677.25 on breakout...for scalp

Edited July 17, 2013 by Patuca

[Patuca 13]

Now short for scalp 1677.50 for 1 point 1/2 position

[Patuca 13]

Out of 1/2 stop moved to 1676.50 for rest of position

[Patuca 13]

Out of second 1/2 at 1674.50

[Patuca 13]

Possible long did not pan out so. Ended up being gunning stops on a failed breakout. That low close ...high vol ...on 9:35 failed breakout bar was the signal to reverse ones thinking to short and look for a shorting entry. In scalping always have stops in place..they are beloved for scalping...range bound scalping short at top..long at the bottom...not for the weak hearted. Typical range behaviour ...many times..race to the bottom..reverse...race to top..traders thing it will breakout...breakouts fail 70% of time...you cannot determine when the breakout occurs until it happens. It can be on either side of the range...you can make an educated case but the odds are against you as in failed breakout i mentioned above.

Edited July 17, 2013 by Patuca

[Patuca 13]

I gotta go but that is how i trade ranges..mostly scalping..of course depending on size of range top to bottom..some you scalp and swing a portion.

 

Total points extracted on this scalp. 1 pt on 1/2 of position..3 points on second half..that can be a fairly good in short time if one is say doing 6 to 10 lots at a time..even at 2 lots it is

$ 200.00. See.. here we go again..after trade ...race back to the top of range and now racing back down...again...ATM machine...just pop the card in ..have stops in place ..drink some of capt Bobs coffee and relax....if machine does not dispense cash soon then very quickly remove card and wait and see what happens. It is very difficult to predict direction in scalping as things happen too fast and when you are old you cannot think fast...therefore it becomes easier to trade typical "range behaviour" in scalping always putting stops in just in case you are wrong and the markets makes the breakout which at some point in time it always will. Strategically the market is constantly cycling between trends and ranges..tactically.. many are the means to extract dinero or lose dinero in the strategic context in which price finds itself..in anthropological terms you could call this the contexualization of price :rofl: :rofl:

 

Gotta go...

 

Granted scalping is potataoe chip money (unless you do it in large size)...If you want some more potatoe chip money you could race over to steve46 thread as he is constantly reverting back and pulling money out with his little own ATM machine..nothing wrong with that..with size you could make a load of dinero...then take off and go fishing...

 

P.S. The coffee atm is at the moment broken down for repairs as it had a breakout.

 

The gold ATM has worked quite nicely today.....

 

P.S. do not do what i say do and never do what i do....and remember in my dipstick opinion es is bearish and gold is bullish. up is down and down is up....

 

:ciao::ciao:

[tradingwizzard 10]

I gotta go but that is how i trade ranges..mostly scalping..of course depending on size of range top to bottom..some you scalp and swing a portion.

 

Total points extracted on this scalp. 1 pt on 1/2 of position..3 points on second half..that can be a fairly good in short time if one is say doing 6 to 10 lots at a time..even at 2 lots it is

$ 200.00. See.. here we go again..after trade ...race back to the top of range and now racing back down...again...ATM machine...just pop the card in ..have stops in place ..drink some of capt Bobs coffee and relax....if machine does not dispense cash soon then very quickly remove card and wait and see what happens. It is very difficult to predict direction in scalping as things happen too fast and when you are old you cannot think fast...therefore it becomes easier to trade typical "range behaviour" in scalping always putting stops in just in case you are wrong and the markets makes the breakout which at some point in time it always will. Strategically the market is constantly cycling between trends and ranges..tactically.. many are the means to extract dinero or lose dinero in the strategic context in which price finds itself..in anthropological terms you could call this the contexualization of price :rofl: :rofl:

 

Gotta go...

 

Granted scalping is potataoe chip money (unless you do it in large size)...If you want some more potatoe chip money you could race over to steve46 thread as he is constantly reverting back and pulling money out with his little own ATM machine..nothing wrong with that..with size you could make a load of dinero...then take off and go fishing...

 

P.S. The coffee atm is at the moment broken down for repairs as it had a breakout.

 

The gold ATM has worked quite nicely today.....

 

P.S. do not do what i say do and never do what i do....and remember in my dipstick opinion es is bearish and gold is bullish. up is down and down is up....

 

:ciao::ciao:

 

nicely done, nicely done

[SunTrader 10]

Brilliant!

 

Long term trend (past two years) is down and someone scalps the other direction then scalps with the trend.

 

All the while market is down more than a percent alone today.

 

Again, brilliant.

[Patuca 13]

For those of you that are eyegate instead of eargate people (possibly suntrader??) :rofl:

 

Well here is a picture..figure it out...

[Patuca 13]

nicely done, nicely done

thank you...seldom do i get positive any comments ...i feel little better already..

[Patuca 13]

Brilliant!

 

 

Again, brilliant.

 

Thanks...rarely do i ever hear those words....i am feeling much better now!

[Patuca 13]

Capt Bob did you trade the gold ATM machine today or were you too busy looking at the RSI? just wondering...:)

Edited July 18, 2013 by Patuca

[bobcollett 10]

Capt Bob did you trade the gold ATM today or were you too busy looking at the RSI? just wondering...:)

 

Hi Patuca

No ,its nighttime here in South Africa......ZZZZZZZZZZZZZZZZZ

But yesterday at 4.20 pm , my time,,Gold broke 1301

Fortunately it was Wednesday afternoon, Golf day.

Otherwise I would have bought and been stopped out 20 minutes later

So there is a god.

regards

bobc

[Patuca 13]

Hi Patuca

No ,its nighttime here in South Africa......ZZZZZZZZZZZZZZZZZ

But yesterday at 4.20 pm , my time,,Gold broke 1301

Fortunately it was Wednesday afternoon, Golf day.

Otherwise I would have bought and been stopped out 20 minutes later

So there is a god.

regards

bobc

Ok capt Bob..."there is always a right time to do the right thing" or "the time is always right to do what is right" Dr. King

 

it was time for shorting not longing.... It was time for trading not playing golf. sleep can wait too...you snooze..you lose....

 

do you think Dr King studied W.D.?

Edited July 18, 2013 by Patuca

[Patuca 13]

Time for sleeping..good night...:sleep:

[bobcollett 10]

Ok capt Bob..."there is aways a right time to do the right thing" Dr. King

 

it was time for shorting not longing.... It was time for trading not playing golf. sleep can wait too...you snooze..you lose....

 

do you think Dr King studied W.D.?

 

Hello Patuca

Dr. King.....hm,hm,hm...you give me little clues about yourself

Now that I,m fully awake and had a chance to look at yesterday, I ask myself,would I have bought at 1302.

Last week Ben said QE was continuing.... the $ fell and Gold went up.

Yesterday Ben said QE was continuing.....the $ went up and Gold fell.

I would have assumed the $ to fall further, and bought Gold... and lost my cash.

regards

bob

PS Madmarket scientist. Please read Dr. Kings quote a few times , and then remove the insulting post by some vender over on Beyond Taylor. You know what I,m referring to.

[Patuca 13]

Hello Patuca

Dr. King.....hm,hm,hm...you give me little clues about yourself

things are not as they appear...and as they are they shall be....

[bobcollett 10]

I have a NEW PLAN

Gold is consolidating in a tight band with support at 1270 and big resistance at 1300

Its still a bear market, but I am still a little bullish ,short term

I think I can scalp 20 points .

BUY at 1278

Sell at 1298

Stop at 1269 and enter short,because then its one way down to 1200

But I still need an edge to buy.... a strengthening $

I wonder if anyone has some info , if the $ goes up 100 pips , Gold drops $5 , or similar.

regards

bobc