Note how quiet the gold market has gone. I smell blood... What is the old saw, never short a quiet market? Would not want to be sitting short now, thats for sure. If any of the big boys fancy buying a few thousand to push it higher, here would be the place.
I wrote the above at 06:54 EST. Look what happened to the volume just after. ET: not just for pikers. Looks like there was indeed some big boy buying...I wonder who... Out, 1460.2. It may go higher...later.
Is todays example good enough? Gave my entry price and target in advance. You must appreciate I'm live trading multiple markets and this is about the quickest I can do it. That is 4/4 on this thread. Any interest in predicting without trendlines?
You just use price and volume ? I think you have been timely and transparent, others might be haters due to envy.
Yes. No trendlines, no indicators, no textbook stuff, no DOM. I had given some of my reasoning for the gold longs over on Rearden Metal's call thread. I was inspired by RM's short gold call before the big break and his generosity in sharing and inspiring others, so thought I'd participate a little more here. It has been an interesting experience, but I'll have to stop here as I trade many markets and fun as this is, its also distracting. More seriously, my trading performance could be a lot better than it is, and I need to devote serious time and effort to overcoming my weaknesses. Once you get complacent in this business, might as well pack it in, so must keep pushing myself to the next level. I'd hoped that there would be some more interest, replies, which may lead to discussions about ways of predicting other than using trendlines, fibs, what is in the textbooks and on websites - but there doesn't appear to be. Anyway, the answers are out there for those prepared to really work at it and learn to think correctly. Continued success to you all.
I've never traded gold futures. But it seems that you are able to identify extreme oversold/overbought conditions accurately, and trade accordingly ..... Just my two cents.
============= Thanks for the charts; just for fun, lets dont try to predict, that way our fun maybe profitable in the long term .Not a prediction Long term trends for silver + gold are both up; but that is not a prediction.LOL==================================
Excellent trades ! So you do not see HFT affecting your entries ? Do you rely on price/volume action to determine exact timing or you determine level beforehand and you enter once price touched 1450.0. Here is my last shortterm trade in audusd. I enter without price confirmation. Price moved max 1 pt above my level. Reading other people's mind would be best i can describe method. TL has played role in decision to select level. Used 10 pips stop.