Gold overall, is bearish!

1. Sitting on monthly KS. (right bottom chart)
2. If chikou on weekly breaks out of kumo, we will see south rush for gold. (right top chart)
3. Made a strong bearish pullback on the daily KS (middle top chart)

I am just waiting for the chikou to get out of kumo to further sell.


Attached thumbnail(s)

yes hit my SL already , lucky i set 1655 , if not deep shit haahha

wow...jus back from happy hour....duno im lucky or what........its better not to enter any trade now......(i almost lose everything while im happy hour-ing) should i say double happiness??/ heheheh...
good nite everyone!!!!!!

'Grexit' news is making EUR drop badly.. On the other hand everyone moving into USD as a safe haven. I think gold will be dropping badly for the time being, until Greece settle their problem.. just my opinion

Kwill, i believe your saying that gold will drop badly....but i forecast there will be some rebound UP for today....so i Long at 1559....it might not be right, but worth a try for me...

SL 1548 TP not sure, up to what i feel reasonable....expecting 1588 if the market allows....

i'm still on the buying side at this moment..
previous position went down the drain. did't cover that position on pullback ...
anyway.. 1H chart developing something good...
went in at breakout level .. let's see how long can we go

poks, wish us luck!...1h chart on 1oclock does show something i believe.....hope my forecast 1588 today will accomplish....but actually im happy enough if it reach 1575 1st resistant value

you went in too early eh mr rime
1563.73 is the level i'm looking at to break to 158x ...
on 1D pin bar formation after trying to take last week low might just help..
anyway ... watch out your SL level .... lol

This post has been edited by poks: May 24 2012, 03:01 PM

hehe....close few profitable trade at 1562 jus now...cuz i went in some small trade at 1555....

set my SL to 1538 now for the little lot remains....
yes poks, agree with wat u said, went in too early!....thats y close some of the trade...so my remains trade can hav bigger gaps of SL and TP....

hopefully to get something fruitfull today!
on my own forecast, it if break 1545.....then everything will be different liao...
so, might even close my trade earlier than 1538 if it break 1545 clean...

below is my own forecast graph....

anything goes below my forecast line, will be another story....

---

Added on May 24, 2012, 3:40 pmin some trade at 1555...SL 1550 (my break even profit....) dont try to count my profit !...hahaha

---

Added on May 24, 2012, 5:35 pmFruit is coming in!~....not fruitFULL enough onli....
closed all my 1555 trade for 30pips.....

now stil left the little trade of 1559....switch my SL to 1554... if hit my SL, then will reconsider everything....as it means trying to break the support level for 3rd time liao to me..

good luck!...did u go into anything poks?

---

Added on May 24, 2012, 6:05 pmthe last little trade taken profit...will trade after 8 pm today....good luck everyone!....

poks, let me know your forecast....u onli will long if they went above 1563?....

This post has been edited by mr.rime: May 24 2012, 06:05 PM

I was in at 1555 earlier at pullback...
If price close above 156x .. I view it as buy..
Wil not add position till monday high is taken out..

how do u trade is it scalping??

i don't actually scalp.. mr rime do...
i hold my position longer... and i trade seldom ... busy with other thing..
this is the pullback i was referring to... see the blue bold line ...
after bouncing previous low... i can only assume it to be buy + pin bar on 1D ... entry??? depends on you.
the pink line can be a good entry/support.. if it fail... then it'll be a range trading ...



Attached thumbnail(s)

Bro poks,i see a down trend frm 1h hr at 7pm..jus take a down frm 1566.....SL 1573...

---

Added on May 24, 2012, 8:47 pmToo fast...switched my SL to 1576... Nearly!

---

Added on May 24, 2012, 9:06 pmClose half my losing trade.....too bad,gt the wrong way today...1581 will close evything...my own wrong signal..

This post has been edited by mr.rime: May 24 2012, 09:06 PM

looks like head n shoulder .

may i know u put in how much money to trade forex?? an mini a/c??

ohhh... can't see that...
just $50 ....

here's some fun reading ..
http://www.hardrightedge.com/tactics/swing/goldenrules.htm
http://www.hardrightedge.com/tactics/swing/losingmoney.htm

This post has been edited by poks: May 24 2012, 11:05 PM

r trading mini account. my friend said there rmany HFT high frequentcy trader.

okie!... the end of the day!!.... doing good!! not as fruitful as i expected...but still doing good!!.... have a trade long at 1561....SL 1551.. will let it run til tomorrow. good nite and see again tomolo!

---

Added on May 25, 2012, 11:44 amLong gold at 1552..yest lot still holding...n SL larger at 1525...learning the way to trade longer now..expecting today 1d chart green!

---

Added on May 25, 2012, 3:06 pmClose my 1551 trade at 1561....back to long small lil trade of 1561

This post has been edited by mr.rime: May 25 2012, 03:06 PM

hi all sifu's here, any advise where to get my first online forex trade account? I wants to try to invest with small amount of $ to learn it, any recommended sites for a beginner to read up? thank you

This post has been edited by skydrake: May 25 2012, 03:33 PM

careful man...
the down trend line holding really strong last night ...
there might be someone around the corner to sell