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TheSurgeon

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Posts posted by TheSurgeon

  1. Cheers  and , I'm not that worried about fundamentals. Gold's still being held by the central bank's (and rich people) in vaults and mining recovery rates are dropping globally so my long term bias is positive.

     

    The break above the monthly downtrend seems to have bottomed at 1260 but will wait and see. 

  2. Just went long at 5020. Stop at 4994. Its early days but the daily chart is looking bullish (up until strong resistance at 5200) so I hope to hold this position for a couple of days and exit at around that level.

  3. There was a good bounce off the channel (easiest to see on the 4hr charts) at 5150 overnight. Depending on how the market opens 5160 could be another "bottom" and a good level to go long at. Alternatively, if it opens strongly it could be a case of watching and waiting for any pullbacks.

  4. Haha cheers ...

     

    That reminds me of a good quote:

    If success was easy, everyone would be doing it. Haha.

     

    On a more positive note, I got back my loss (and then some) in the evening - going long at 5163 at 3pm and closing out at 5186 in out of trading. Didnt post that one live as the sign-in to the forum was acting up.

     

    No particular strategy for today but I think theres room for a move up in the next day or two so I might try to go long somewhere below the 4hr MA if the opportunity presents itself.

     

     

  5. Cheers everyone for your input!

     

    I might try an experiment and post details of my CFD trades live- entry/proposed exit/stop loss.

     

    I (like everyone) hate getting stopped out so I would be interested in what people think of my trade set ups.

  6. Interesting leads from the US - up near the 17500 level which is close to the weekly/monthly downtrend that started last year. For some reason I get the feeling that the "smart money" has called the bottom for the ASX (at around 4850) but people couldve said that about the Christmas rally - so I'll wait and see what lows we see next. H&S didn't pan out the way I'd traded but my stop was a bit tight at 5200 so I was out even before the move down to 5150. Hope some of you took a bit of IG's money overnight haha.

  7. Not sure what to think of the price action leading up to and after closing. I made the mistake of going in too early (it was hairy there for a bit, but I wasnt stopped out or anything so will see how it goes).

  8. Haha - I was wrong on both counts, but if you check out the latest chart you can see where the 'real' downtrend line is (see the collapse at around 5128). Will be interesting to see if it holds on overnight. Could be a big move either side from the looks of things, might be forming a (bit of awonky) head and shoulders at 5180 or it could capitulate completely. Hard to tell.

     

    Btw - what does everyone use for Volume data? The IG CFD doesn't have it.

  9. Yeah. Im expecting lows as well. Not sure when itll happen but if it reaches either 5120 or touches the 4hr MA then I reckon it'll fall down to 5030. If that breaks then theres even more pain ahead for the bulls.

  10. That sucks . I closed out of a short CFD when the fake morning rally came through, feeling pretty silly now :S ... but i think there should be a couple of shorting opportunities in the next couple of days though even if the "easy money" is gone.

  11. Yeah- with the ECB coming in overnight think I might take the day off, its probably not a smart time to short on a technical set up (even with the 200dma and long term downtrend at around 5180). Think today might be bullish or sticky. What do you reckon ?

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