I need more historical data from stock indices CFDs for backtesting purposes. I have only data from the last 2 months via MT4. Mick Kock told me I should ask Jason Rogers. So I do now.
Oil looks like it could be forming a "bear flag" pattern under its uptrend line. If that pattern holds and the trend line acts as resistance, then "look out below"!
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you arent sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and Ill introduce you to the community and point you in the right direction. I look forward to hearing from you.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
Oil looks like it could be forming a "bear flag" pattern under its uptrend line. If that pattern holds and the trend line acts as resistance, then "look out below"!
I agree Sean it looks weak..but didn't you hear...oil is now free from the gulf of mexico..
Your views/comments and those of others are welcomed but based on studies of the charts I see gold prices moving up from there current levels to the 1270 per ounce zone. The rapid decline in prices from the high of 1251.75 has clearly found support at 1214.60 which represents a 67% retracement of the rally from 1196.40 to 1251.75. The price of 1214.60 was retested and held firm with strong support and help from the golden triangle (.618 fib). The turn has been happening slowly but surely. This is my trade:
Buy Gold/USD at 1,218.00 Stop at 1,207.00 Target = 1,269.00
The parabolic rise in euro gold looks to be just about over...
926-908 area looks good.
I don't quite see it as a good short just yet, US Gold still has strength and I'm looking for 1285 before we go sideways for 4-6 weeks. However the next assault on gold i'm sure euro gold will be the place to be short.
Last edited by speculator84; 06-15-2010 at 07:54 AM.
Your views/comments and those of others are welcomed but based on studies of the charts I see gold prices moving up from there current levels to the 1270 per ounce zone. The rapid decline in prices from the high of 1251.75 has clearly found support at 1214.60 which represents a 67% retracement of the rally from 1196.40 to 1251.75. The price of 1214.60 was retested and held firm with strong support and help from the golden triangle (.618 fib). The turn has been happening slowly but surely. This is my trade:
Buy Gold/USD at 1,218.00 Stop at 1,207.00 Target = 1,269.00
The parabolic rise in euro gold looks to be just about over...
926-908 area looks good.
I don't quite see it as a good short just yet, US Gold still has strength and I'm looking for 1285 before we go sideways for 4-6 weeks. However the next assault on gold i'm sure euro gold will be the place to be short.
Wow, and I thought you were an eternal "gold bull". hehe!
Yeah, both gold and oil have headed higher this morning.
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you arent sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and Ill introduce you to the community and point you in the right direction. I look forward to hearing from you.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
Trade paper gold like it's candy and buy physical like there is no tomorrow.
I will not be fooled on the next 200$ take down.
Gold & oil still rallying overall...looks like stocks may have one more really nice push higher before collapsing. We'll see.
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you arent sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and Ill introduce you to the community and point you in the right direction. I look forward to hearing from you.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you arent sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and Ill introduce you to the community and point you in the right direction. I look forward to hearing from you.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
Check back there too..because there should be even more videos coming. We did over 60 presentations there over two days.
Enjoy!
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you arent sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and Ill introduce you to the community and point you in the right direction. I look forward to hearing from you.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.