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phantom
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Yes, it is above your 89 period ma...but you'd have to have very, very deep pockets to trade gold the way you pose it... gold is "bullish" when the market is rising, imho, not when prices are dropping against some LT moving avg... and I don't write this to argue with you... I write this for the traders out there who actually want to make money trading...
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which is exactly why I use moving averages more than lines...the monthly gold chart clearly shows a downward bias for the last 20 months or so... you can fight the truth all you want, but that doesn't change the truth... just sayin'... Luv, Phantom
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This chart is clearly demonstrating price rejection. Whether this qualifies as a setup in my book depends on the nature of the breakout that led to this test and subsequent price rejection.
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It all depends on where the market goes...
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This is a monthly Gold chart. Doesn't look too bullish to me... Luv, Phantom
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The Most Interesting Women In The World ?
phantom replied to Mysticforex's topic in General Discussion
I didn't see the choice for the woman sitting next to the most interesting man in the world... -
Not too sure I see the correlation, but, okay!
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Just got this on my FB feed... THERE ARE NO EASY ROADS TO SUCCESS "Whatever you want in life, you must give up something to get it. The greater the value, the greater the sacrifice required of you. Everything has a price. There’s a price to pay if you want to make things better, and a price to pay for just leaving things as they are. Nothing worthwhile ever comes easily. Work, continuous work and hard work, is the only way to accomplish results that last. Use your imagination more than your memory to achieve success. The highway to success is a toll road. There is no success at bargain basement prices." If this doesn't apply to futures trading, nothing does... Luv, Phantom
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Hi Voodoo, See posts #170, #175! Luv, Phantom
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Hello all! Here's to the new year bringing you everything your heart desires... Happy new year, and may God bless you and yours! Luv, Phantom
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I've been away from the thread for a couple weeks, so sorry for the delay in the reply... Feel free to post a chart and ask a question as long as its relevant to the content on this thread. I'll address it eventually... Luv, Phantom
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Hi Bob, The daily crude chart shows a couple of things to take note of... First, we can clearly see rising consolidation zones on the chart, as depicted by the purple ovals. Secondly, notice the failed test of the 20 period moving average with a strong move away from and upward as depicted by the big green candlestick 6 periods ago. IMHO, crude is in a solid uptrend and if I were trading for a multiday move, I would look to enter on a break above 95.00 which is slightly above the current consolidation boundary, and would expect a test of 96.10 as seen in the May consolidation, with a continuation back into the 100.00-102.60 region, which is the April lower consolidation boundary. Good luck! Luv, Phantom
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Originally Posted by bobcollett » "July crude oil futures closed at $88 today!!" Thats a train smash Please comment... Thiis is the daily chart for July Crude. Since the beginning of the year, crude has gone through several phases of price evolution. Since price movement is nothing more than a series of tests, the market is apparently phasing upward for the month of February and then step-channeling downward until the beginning of May where it dumped. Try to think of each of these price channels (one per purple oval) as an opportunity to create "kinetic energy" which could, at times, catapult the market into massive movement. The two ovals forming throughout the months of March and April were storing that kinetic energy to, in this instance, force the CL market into the 80 dollar range. Don't want to speculate on the politics behind the move. Better to focus on the chart and ignore the clutter. It is what it is, so I hope you understand that in order to make money, you have to learn to go with the market no matter what its geopolitical backdrop... Luv, Phantom
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Hi Bob! As far as getting killed here? You well know how many times traders lay in waiting while I was trying to teach over on my thread...None of this really phases me anymore... I'll talk about CL over on my thread later today. Gotta run errands now. Talk soon, Phantom
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Ya know, when I was in Perth a number of years ago, I did notice a little something something...I can't speak to the bad temper part, but as far as the driving aggressiveness-Aussies make NY taxicab drivers look tame!
