Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)

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DaveO

N.Cornwall, UK

Posts: 5733

13 years ago

Aug 2, 2011 23:37

yes, I have targets at 11738 and 11463. Below that 11112. Stock indices been easy money, compartively speaking.

subway90

Posts: 1078

13 years ago

Aug 2, 2011 23:28

would see more downside for US stocks.... 12100 should have held for DOW... but clearly broke thru it...

could see some bounce at 11700/750... but it's likely headed to 11400 strong support...

if 11400 holds.. could see 1 final rally to 13500/600 b4 selloff...
if 11400 breaks and settles below that level... could've seen the top and headed lower already...

jacek

Melbourne, Australia

Posts: 2579

13 years ago

Aug 2, 2011 20:48

G'day Dave looks like we hit my target zone.. like you voodoo analysis:-) here is mine..

DaveO

N.Cornwall, UK

Posts: 5733

13 years ago

Aug 2, 2011 19:33

If it is in a wave 3 in the series commenced from the 5th May low the 4day consolidation from the 19th to 22nd July is likely to be the halfway beer stop. This would project end of wave 3 at c.1715 prior to any significant retracement for wave 4. Need to classify as voodoo as the counts are less than clear. For scalp fades if today current candle low at 1620 were breached without the trend resist line @ 1650 being significantly penetrated it might justify a short play. Current price 1646.3.

DaveO

N.Cornwall, UK

Posts: 5733

13 years ago

Aug 2, 2011 19:15

Gold within a knats whisker of the upper trend resist line @1650. I suspect it will break it. Not much else to go on with all projections already taken out and momentum still looking good from the 1478 low.

Gunjack

London, UK

Posts: 1184

13 years ago

Aug 1, 2011 16:07

Hey Nor looks like you got your wish of lower CL earlier than expected.

DaveO

N.Cornwall, UK

Posts: 5733

13 years ago

Aug 1, 2011 11:16

Gunjack, if you managed to profit with a scalp play then I can only congratulate you and say well done, good job. My issue is the way in which we all make analysis posts or trade calls. The posts need to be meaningful, contain sufficient information to explain why a trade is being taken or why specific levels are perceived to be significant S&R's. You will remember my dislike of someone who used to post his "gut feel". I did not think that anyones "gut" was terribly significant or relevant to others in the absence of more information to qualify why the gut was saying what it was feeling.

The other difficulty here is a diverse range of timeframes being traded where one trader may be influenced by daily/weekly charts and the next trader is trading the 5 min t/f. This can lead to much confusion if posts are not sufficiently detailed.

gl and gt to you.

jacek

Melbourne, Australia

Posts: 2579

13 years ago

Aug 1, 2011 0:18

and they lived happily ever after..:-)
http://www.youtube.com/watch?v=oJB3t8O3wiY

Gunjack

London, UK

Posts: 1184

13 years ago

Jul 31, 2011 15:37

Agreed. And I will keep my caustic comments to myself. Gd luck to you