dmedin

I don't have the sophisticated skills that you do @Mercury but here all signs point to gold being in a 'very strong uptrend'. There's no point whistling in the wind; don't go short when the trend is obviously and inexorably up.

It's still snaking its way down. When it bounces off (rather than breaking through) the short-term MAs then I feel better about being short; the 'proper' daily MAs still suggest it's coming down. The daily MAs also look like the price will fall a bit more - 10 is sharply negative and 50 is flattening out. There is a wide gap between 50 and 200. Also: the bid/offer spread is still enormous.

Seems to be range-bound right now. Frustrating; will need a decisive break along with increased volume in order to know which way to go on this.

Very nice analysis (which I have not yet fully digested), my own humble opinion is that Yen is not worth trading because it's so heavily manipulated.

If your Chromebook supports running Linux applications then yes: https://www.prorealtime.com/en/faq/help_support You also need to have Java installed.

@Mercury Where is the sense and methodology in a market that drops 5 - 6% after a Donald Trump tweet and then recoups 100% of its losses and then some in the space of three days? The answer is no, I can't really - because whether or not the price will follow the indicators is uncertain. All I can do is limit the amount that I might lose.

@Foxy Every time I look back at 1hr or even 15m charts I see clear signs of when I should have gone long or short, but I never seem to be able to do this very well until after the fact. Sad!

Hindsight could make me rich! Look how easy it is to trade when you see the completed pattern in front of you!

@Foxy I've tried 15 min charts before ... I found it a lot of work for little gain as you are really in the market and back out again very quickly before all your profits evaporate. Lots of work for little reward and a high chance of losing lots of money if you trade too many times is what I found. The right response to the recent move was to stand aside and not take part, I guess.

@Mercury How on earth do you know what overbought/oversold extremes are when the market slides 6% on one day and then slides all the way back up again the very next day?

@Foxy Futures put me off because the spread on them is so big. I'd rather pay a few pence interest for a holding of a few days.

I remain hopeful that it will fall further in order to 'converge' with its 200 day SMA (regression to the mean?) At that point we will think about going long and holding 😺 Again my timing is pretty bad!

It held above 577 and now it looks like it will have another go at 655, let's see if it can break it and stay above and then we will think about going long and holding... (might even buy real shares lol!)

@Mercury Very well-called.

I'm jealous

To be fair I don't believe the problem is the IG or the platform. The 'big players' are manipulating the markets like crazy right now and all the small fish (you and me) are being eaten alive. It's f__ing ridiculous.

At this moment in time I feel like I shouldn't be trading anything ... except maybe taking long-term positions on a few select stocks. Stay the heck away from indices as they are swinging up and down every day in huge, random bursts, pretty much the same with FX. And we have people telling us that gold will drop when it's rising and rising and rising. Stay the hell away if you have any reservations.

I've said it once and I'll say it again, day trading is a TOTAL mug's game. ALL of the people you see promoting it are chancers, liars and cretins. Somebody please stop me ... I'm addicted to something that is hurting me!

PRT is faster to load charts. Are you trading in live most days? Just go into your account settings and turn it on. It will say if you are eligible for free access. They will email you if that changes, before charging you.

Looks promising!

Cripes! Brent is dropping like a brick!

As an aside, I'm starting to really dislike these sudden massive drops and immediate reversals of U.S. stocks. It almost makes me want to avoid them altogether, along with the indices. How can anyone trade such randomness? If gold closes the week above 1500 then I am tempted to go long to see if it hits the next Fibonacci target of 1586.

Apropos of which, their most recent results only cover October 2018. I have noticed a large amount of bad trades and I would not be surprised if they are not updating their stats because they have lost an enormous amount of money. Additionally, These performance figures refer to simulated past trading performance on forex and stock trading. Suggests that they do not trade their own signals with their own money. That's a big red flag and I'm surprised they get away with it, being FCA regulated.

@Mercury I would already have cashed in my profits (if I was so fortunate) ... would like to see the price around 1450 before I'd be comfortable going long just now.

Did you fill out the 'Dealing U.S. stock' form under your account settings? There are some markets where they 'deem' people outside of the U.S. 'unsuitable' even if you have filled out the form, however.