Jump to content

Condor

Community Member
  • Posts

    199
  • Joined

  • Last visited

Condor's Achievements

Regular Contributor

Regular Contributor (4/10)

0

Reputation

  1. Here's maybe a curve ball for you - I'm wondering if the inverse correlation between XAU and USD has broken down somewhat. I've been watching Gold & Silver more closely than anything and it seems to me upside in the $ is not being reflected so strongly in the metals as before a week or so ago. Thats why we havent seen the retraces of such depth as previously & I'm thinking even if $ stronger today we won't get such a pullback in XAU XAG. C ps. and both been observing the MA on 4H quite nicely since the 3rd June when reversal occured.
  2. ..and forgot to say Silver is looking interesting to me aswell in tandem with Gold. C
  3. Well with that move up in the markets yesterday Gold certainly went South... Still looking for that bottom to get back in and my original idea of the 1200 area buy zone is looking more likely given this what seems like a juiced up Lance Armstrong type US500 performance! The middle tramline is close to what you had  and I was playing with the idea of the range either side of that with the upper and lower // as to if they could be meaningful or not. C 
  4. My higher buy zone is 1230 area (in chart above)which was the area from which the 1302 recent high was launched from. Currently 1237. Otherwise if it goes through that area then the 1200 zone comes into play as you say  I kind of think that it all depends when a shock / drop in stocks hits as to which it will be. C
  5. Gold still making its way down.. ABC correction altho maybe not where I placed my labels ... still tracking for the end of the retrace. Expect that will come when the stock markets get a jolt..wonder if the bank being closed in Singapore could be the start of something. C 
  6. it's v.interesting how this Gold Price action is developing . My buy zone is perhaps an optimistic retrace of the gains made. Of course watching as we go the price action and indicators may cause me to revise the level at which I get Long again (currently Flat). It's good to knock this about with you & get a better result as the outcome of the discussion. This is where the community is really helping. Thanks C
  7. reckon the tramline is/has broken? the FED minutes on June rate possibility has done it for USD strength. So now hoping new trend down to my buy zone...we'll see. C 
  8. agree  seems to me unclear where it could go - i'm staying out. C
  9. I see what you mean  I'm looking at the 4H and shows Mom Div. to me. Looks like it could crack and drop. I'll start tracking as you've pointed out. C
  10. yes good point - i'll be watching that tramline - i can see that it is strong with a few touchpoints making it a good line. C
  11. I'm still expecting a retrace down to your middle purple tramline line area (weekly) which is Bold Green Line (daily) . I'm determined not to get Long again until then. Maybe it's an ABC retrace and looking at price action since 1303 top a week or so ago it seems to me to be lower lows , lower highs pattern (early days i know) but it fits with my bigger picture. That said I'm not confident enough to go short which would be the right thing to do IF my scenario holds water. C
  12. the tea leaves are speaking to us...
  13. looked like Gold and Silver were turning around so I exited for profit - glad i did as price action has come right back.
  14. Great points  ..yes ive been folllowing Burford and found the hard way 3% isnt enough but I'm heading in the right direction now i believe. From Friday to today things are going much better and i'm going to fund up my account soon. Hence i am exercising patience as best i can and can see the value in that. Fortunately my entry on GBPUSD is far away from current market price ( by 150pts) thats massive for me & I can relax on that one. It's only a single entry so I'll have to judge my exit. If dollar continues to strengthen then maybe I can make 2nd entry short but i guess we're some distance from knowing that or indeed if it reverses exit for profit. I'd also like to get short EURUSD so will study again to find entry. NZDUSD isn't mainstream but when i looked at price chart seemed clear and i found entry that worked so i'm happy on that and kind of gives me a split bet across 2 mkts against USD. Silver has worked out better for me since I closed my Longs in Gold and i'm in with a reasonable headroom and a 2nd entry which is also now in profit with stop at BE. Basically I havent been this well setup as this since i started 24/3: I've got 3 free rides going so hoping for some joy finally. Your posts have really helped I must say so thanks very much. C
  15. thanks  it's one of the few Ive got correct . I have tried shorting earlier already on Gold but got stopped out when it spiked and took me out at BE. Where I have succesfully entered Short is on Silver at 1757 now at 1732 so I've got stop at BE and fingers crossed the new down trend is in with lower lows, lower highs. I'd like to get back in to Gold short but don't feel happy to right now. I'm thinking GOLD is an ABC down and to get on the C but trying to read the tea leaves on that is not clear. C ps. I'm still struggling on Indices to get entry correct - doing better on GBPUSD / NZDUSD / Silver
×
×
  • Create New...