Last week was pretty much a bearish consolidation across US indices, would expect a breakdown out of that this week. Euro continues to look ill. Terminally I suspect.
Last week was pretty much a bearish consolidation across US indices, would expect a breakdown out of that this week. Euro continues to look ill. Terminally I suspect.
Why do I keep hearing the Jaws theme in my head.....
Take a look at my chart in a previous post for Dax. We might see a move to 6.700 area and short with targets to 6.400 area. So, sell on rallies!
Yes I suspect the DAX could see a very rough period ahead as the market begins to price in how well its export driven economy will do without the rest of the Eurozone economies tied into the same currency.
Yes I suspect the DAX could see a very rough period ahead as the market begins to price in how well its export driven economy will do without the rest of the Eurozone economies tied into the same currency.
Yes we should sell on rallies - when and if we reach 1200 in S&P500 then we should expect more QE - FeD tends to intervene at 15% declines.
Not the best of the charts but 1564-65 on gold if supp and heads above 1574 should be able to continue to 1585.. A break under 1566 clean points to a possible move to 1552 extending lower to 1540..
silver 28.15-20 main supp beside the current supp and this is also the base of the org descending triangle..
USD 10047-50 expected to top for the day..
On a side note did a layout on SPX where by it should hit 1333-35 and lift off..
Charts a bit later...
gotta run......
GL and happy trading..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
Just finished a depth analysis on gold..
Weekly is showing a clear breakout on the weekly at 1605 and calls for a move to 1505-10..
8 hrs is a kicker chart showing a long lasting TL play which is supported of GOLD at 1557 and hence to buy off this lvl and to sell under to it.
A nice corrective bounce off 1557 is likely to head to 1600-07 for a failure there is a sell off for a 1505 play..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
Gold investors are the least optimistic in 5 weeks as due to political problems in Europe. All gains of 2012 have been lost recently as investor turn to USD seeing stronger-than-expected US economic growth.
Gold had risen 14% percent to $1,792.70 by Feb. 28 on the Comex in New York, before falling to $1,585 today.
Bullion reached a record $1,923.70 in September 2011. Prices have since fallen as as the USD became the safehaven asset. Barclays lowered its 2012 forecast by 8 percent to $1,716 yesterday because of political problems and mounting debt in Europe and concern that Asian (especially Chinese) economy growth will continue to slow.
In 1 or 2 lines tell us if you are Long, Short or Flat any of the indices.
If you want to add a stop, limit, or price, feel free. Chart not necessary!
Let's HAVE Some Fun With THIS and see how many posts we can rack up to get a feel of the real time sentiment!
I am Long Euro 1.2834
Last edited by Gregory McLeod; 05-14-2012 at 09:18 AM.
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Trader, Gregory McLeod moderates the DailyFX Forum.
If you are a new user to the DailyFX Forum, or not sure where to get started, please go to: How To use the DailyFX Forum and Introduce Yourself! Section. I’ll introduce you to the community and point you in the right direction.
Please use the “Ask the expert” section to ask me trading questions or reply to me in this thread.
Webinar: Watch me Trade Live Tuesday, Wednesday, and Thursday at 5:30 ET/9:30 GMT inPip & Run Trading Room.
Trader, Gregory McLeod moderates the DailyFX Forum.
If you are a new user to the DailyFX Forum, or not sure where to get started, please go to: How To use the DailyFX Forum and Introduce Yourself! Section. I’ll introduce you to the community and point you in the right direction.
Please use the “Ask the expert” section to ask me trading questions or reply to me in this thread.
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Apple Computer- $724/Share before end of month-- Just my weird calculus.
Trader, Gregory McLeod moderates the DailyFX Forum.
If you are a new user to the DailyFX Forum, or not sure where to get started, please go to: How To use the DailyFX Forum and Introduce Yourself! Section. I’ll introduce you to the community and point you in the right direction.
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Gold
I have been short on Gold from 1621.56. Will hold ‘til convinced of Northerly turn. All currencies have continual annoying 60% to 75% retracements. Why should Gold be any different..??? Next target 1550 then 1440.…..
I see the "Ghost with Mittens" pattern on that Gold weekly chart. I love Woodies CCI pattern names
Trader, Gregory McLeod moderates the DailyFX Forum.
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Originally Posted by tradetime 
