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998 replies to this topic
#15
Posted 13 February 2010 - 06:15 AM
I have seen some gold trader on the forum, so I think I will share my 2 cents on gold.
There are quite a bit of alternative counts on gold, and by the way it is confusing to count elliot waves on gold. But this is my best count. The triangle in wave VI) may be little confusing to lot of people, but it just fulfills all the conditions.
I dont know how you guys trade using RSI and Stochastics, I certainly do not have that art.
Anyways, guys in short there are good chances that gold might cross over 1200 again. but wave (iv) can be little confusing. If there are more subdivisions get out of gold. I will exit if it crosses 1 tick below 1023. If I will see consolidation on gold meaning wave iv extending in time I will buy more gold (means take more leverage).
There are quite a bit of alternative counts on gold, and by the way it is confusing to count elliot waves on gold. But this is my best count. The triangle in wave VI) may be little confusing to lot of people, but it just fulfills all the conditions.
I dont know how you guys trade using RSI and Stochastics, I certainly do not have that art.
Anyways, guys in short there are good chances that gold might cross over 1200 again. but wave (iv) can be little confusing. If there are more subdivisions get out of gold. I will exit if it crosses 1 tick below 1023. If I will see consolidation on gold meaning wave iv extending in time I will buy more gold (means take more leverage).
#16
Posted 13 February 2010 - 06:44 AM
Median Line Studies on GOLD Weekly Chart...
I dont use classical TA, so this stuff might looks like alien technology, but it works for sure.
I am attaching a median line with combinaiton of Fibonacci studies on gold.
In short the chart is saying, if price cross above the blue medina line in the highlighted green area, gold is bullish, but if it resist at the blue line and rebounds back, we have good chances of coming back testing the red line below .
On the positive side this week's closing is above the median line of counter pitchfork, and also rebounded of Fib arc 38% level, we have a good bullish scenario.
I dont use classical TA, so this stuff might looks like alien technology, but it works for sure.
I am attaching a median line with combinaiton of Fibonacci studies on gold.
In short the chart is saying, if price cross above the blue medina line in the highlighted green area, gold is bullish, but if it resist at the blue line and rebounds back, we have good chances of coming back testing the red line below .
On the positive side this week's closing is above the median line of counter pitchfork, and also rebounded of Fib arc 38% level, we have a good bullish scenario.
#18
Posted 13 February 2010 - 05:56 PM
I have loads of intentions to switch towards gold n quit kse but have no idea how to start....Farzooq sb, azam sb, african baba n others pls help....I have asked IGI they will send me the a/c opening forms but u ppl tell how it works I am confused
