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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8936
Forum Topic:

Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)
 
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chloethebull
halifax, Canada
Posts: 1183
14 years ago
May 11, 2011 16:08
good call on ur oil short dave..:)gl:)
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
May 11, 2011 16:02
And Chloe, gold is not at all "crazy" for analysis. Silver is crazy. Only way I can read silver is rely upon it broadly following gold directions. Nothing is ever 100% in synch however.
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
May 11, 2011 15:59
Chloe, I am almost pemanently positioned in gold one way or the other. Its my biggest earner over the years.

From last analysis post I had reckoned the move down was only waves 1,2 & 3 and it didnt look like a corrective run, i.e expecting 5 waves. I was wrong because the retracement went too high for a wave 4 (78.6% of W.3). So the run down to 1462 was a completed 5 series I now feel, albeit imperfect pattern. We can call that low W.1 or W.A. The alternate count is completed ABCDE corrective.

Currently I am short intra day which could convert to longer term position depending upon on price action.
chloethebull
halifax, Canada
Posts: 1183
14 years ago
May 11, 2011 15:42
dave are u fortunate to be trading the big moves in gold both up/down?absolute craziness lol..gl:)
Machiavelli
Posts: 113
14 years ago
May 11, 2011 15:03
Shameless self-promoter. :)) Congrats. Do you have your short on cable yet?
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
May 11, 2011 14:54
DaveO
N.Cornwall, UK


May 11, 2011 13:44 GMT
Member since Jan 2010 CL made the 50%ret level which conveniently coincided with 100% symmetry on the up pattern at 104.73. Inventory # in 45 mins but I am punting a short on smaller timeframe set-up.

DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
May 11, 2011 14:53
DaveO
N.Cornwall, UK


May 11, 2011 13:36 GMT
Member since Jan 2010 38.2% ret in the way at 391.24

DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
May 11, 2011 14:52
DaveO
N.Cornwall, UK


May 11, 2011 13:35 GMT
Member since Jan 2010 Copper corrective (basis daily t/f) looks like will extend down to the 127.2% potential ending at c.379.68. Much below that will mean change of count but pattern for "corrective" looking good (clean)

Machiavelli
Posted Anonymously
14 years ago
May 10, 2011 15:03
No problem. I now have an investigative project. I'll keep you posted if can come up w/ anything.
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
May 10, 2011 15:00
ah sorry, no idea but it works lol. Well known by some ES traders of old. Nothing much works in the ES these days except GS and their partners in crime ! (Be away for next 4 hrs, gt.)
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