Gold drops farther, breaking 2007 year end close along with 2007 peak, sending dollar into a bull run.
With 4967 taken it out becomes resistance today.
Phil your comments are awaited.
Gold drops farther, breaking 2007 year end close along with 2007 peak, sending dollar into a bull run.
With 4967 taken it out becomes resistance today.
Phil your comments are awaited.
In the 3 years I've been around this forum I have never given my opinion on the market. The reality is I spend time thinking about it and don't have any opinion at all. I find the remarks provided here to be random guesses and I look at them for amusement value only.Originally Posted by ;
Who cares where gold closed in 2007? Did you believe number had some magical powers? The dollar was gaining strength prior to today. Do you believe 4967 is resistance? How can that make you a better trader? Are you going to create prospective trading choices off of that number?
I am not attempting to be an ass but I really do know it sort of sounds like that. I simply don't think much of what's stated here actually matters. When it comes to market opinoins that I don't have any respect for what others believe and, for that reason, I reasonably presume that they would care less about mine.
Today this chart is quite too great, examine the consistency.
That is weekly with sept 05 low 1.1640 and current top 1.6035
At the current week, EU went all the way back to 5094 level at 5088 approx and fell back.
Opening the way for 4356 or 61.8% of the Entire move.
Only a rest of 5094 may negaste this view.
I believe that is the best statement I've read yet here at the factory. I believe you have to be utterly impartial to be able trade efficiently, while I've not fully attained the state of mind, I'm gaining on it.Originally Posted by ;
I don't know why people need to reevaluate things much, self love I guess, however, trading is best when dull and simple.
Just my 2 pips.
here's an easy 4h chart.
Price is wayyyyy oversold, attained 161.8 extension, 4h and daily doji/pinbar, and also a wonderful diamond reversal pattern on 4h. These contribute to 2 situations. .
1) a retracement to 1.510x as a first goal then 1.530x as another goal.
2) a complete alteration.
I personally prefer the first situation.
In this particular case the diamond has about 90% probability for a continuation pattern. So, 1.4650-70 is the most likely goal before the end of the week.Originally Posted by ;
There isn't any such thing as a diamond continuation pattern. . .until today. You need to give your creation a name.Originally Posted by ;
Thank you for the advice. I already did. But not just now. About 12 years ago. Where had you been?Originally Posted by ;
This is the most obvious continuation diamond case on the weekly EUR/USD chart that a complete TA idiot must have the ability to identify properly.