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gold advise
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Professor53h

Member Since Nov 20, 2015  23 posts New format of RSI reverse trading (Professor53h) Feb 01 2016 at 08:14
Better check your weekly charts guys!!!!! Its almost at the top of its range. Should be headed down again very soon. JUST FYI.

Work Hard and Play Harder!!
stian

Member Since Nov 14, 2015  279 posts stian Feb 01 2016 at 08:16
It will probably revisit 1122-1125 on bad chinese dat, but then head for 1110-1115 levels again.

mlawson71

Member Since Dec 11, 2015  845 posts mlawson71 Feb 03 2016 at 11:49
Gold is still struggling to break above 1128. Considering the hanged man candlestick on the daily time-frame I think it will start dropping soon.

MagicalMan

Member Since Nov 14, 2014  3 posts Ed Magic (MagicalMan) Feb 04 2016 at 07:25
Gold would be a good short right now back to 1130

Map out all your trades
mlawson71

Member Since Dec 11, 2015  845 posts mlawson71 Feb 04 2016 at 13:00
Gold broke above 1128 and kept rising, next resistance is at 1150.

Chikot

Member Since Jan 14, 2010  2299 posts Chikot Feb 06 2016 at 09:34
forumnoob posted:
i like to have advise from experienced traders,
will gold rise or drop and where should i open trade and put s/l and t/p

for upcomming 3 to 5 days.

and wish the community the best in trading .


I truly hope you are not short.
It is also a lesson in trying to force trades.

dianajs

Member Since Dec 09, 2015  432 posts dianajs Feb 07 2016 at 07:43
Gold has almost reached 1180. I wonder whether there'll be a breakout above that. So much for it reaching 1000 for now.

Chikot

Member Since Jan 14, 2010  2299 posts Chikot Feb 07 2016 at 12:40
It is at monthly resistance but momentum is strong. Who knows. It is waiting time.

mlawson71

Member Since Dec 11, 2015  845 posts mlawson71 Feb 08 2016 at 12:05
Chikot posted:
It is at monthly resistance but momentum is strong. Who knows. It is waiting time.


I agree. The resistance is around 1180 - 1185. I, personally, wouldn't open new longs before a breakout above that level.

Chikot

Member Since Jan 14, 2010  2299 posts Chikot Feb 08 2016 at 19:03
My my. I pity those who went short and did not cover those shorts.
I was short few times but covered all and stopped even trying. it looked clearly that Gold as about to move much high. Frankly, I hate to pick tops and bottoms. it is not my game. I tried and won't do it again. Who knows, it might be reversal of the down trend. In this case I will be waiting for signal. still might reverse and drop to $1000. nobody knows what this thing is up to, but considering indexes are dropping and confidence is tanking Gold might reverse. It is second month up for Gold.


mlawson71 posted:
Chikot posted:
It is at monthly resistance but momentum is strong. Who knows. It is waiting time.


I agree. The resistance is around 1180 - 1185. I, personally, wouldn't open new longs before a breakout above that level.

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