09/05/2014 Live Update

[fehro]

long long term GOLD/USD... green trend on GOLD is from 2001-2004 lows... major trend around $1200.. pink H&S doubtful, looks better on the monthly .. but if USD pops.. then crazy possible.. if they move in opposite directions... and IF the pattern plays out... but pink green line on GOLD near $1200 is key.. could morph into several other patterns... green bull flag, green triangle, etc, etc.. fwiw.

[BullBear52x]

bulls last stand short term.

[TraderGirl]

TSLA...if a bounce here...at least another leg down....

[jack black]

long long term GOLD/USD... green trend on GOLD is from 2001-2004 lows... major trend around $1200.. pink H&S doubtful, looks better on the monthly .. but if USD pops.. then crazy possible.. if they move in opposite directions... and IF the pattern plays out... but pink green line on GOLD near $1200 is key.. could morph into several other patterns... green bull flag, green triangle, etc, etc.. fwiw.

I honestly don't believe you can use TA for USD. When dollar broke down from the triangle in 2011, everyone sold dollar and bought gold. And then the opposite happened. I think one is better off to be contrarian and dollar is very overbought at the moment.

[Out of Bounds]

Russell is finding a way further south. I like watching the RUT because it tends to confirm or cap moves by the other majors.

[Cobra]

possible 3 push down. I won't be too bearish here.

[BullBear52x]

long long term GOLD/USD... green trend on GOLD is from 2001-2004 lows... major trend around $1200.. pink H&S doubtful, looks better on the monthly .. but if USD pops.. then crazy possible.. if they move in opposite directions... and IF the pattern plays out... but pink green line on GOLD near $1200 is key.. could morph into several other patterns... green bull flag, green triangle, etc, etc.. fwiw.

I honestly don't believe you can use TA for USD. When dollar broke down from the triangle in 2011, everyone sold dollar and bought gold. And then the opposite happened. I think one is better off to be contrarian and dollar is very overbought at the moment.

I called this TA chart. it's how ones uses it and how success trading it.

[jack black]

Looks like day 4 of making profit by buying BIS in AM and selling in PM.
I honestly believe biotech is a bubble.
Compare NASDAQ 1995-mid 2000 and IBB 2009-mid 2014. Both went up about 500% in 5 years.

[jack black]

I called this TA chart. it's how ones uses it and how success trading it.

???

[fehro]

long long term GOLD/USD... green trend on GOLD is from 2001-2004 lows... major trend around $1200.. pink H&S doubtful, looks better on the monthly .. but if USD pops.. then crazy possible.. if they move in opposite directions... and IF the pattern plays out... but pink green line on GOLD near $1200 is key.. could morph into several other patterns... green bull flag, green triangle, etc, etc.. fwiw.

I honestly don't believe you can use TA for USD. When dollar broke down from the triangle in 2011, everyone sold dollar and bought gold. And then the opposite happened. I think one is better off to be contrarian and dollar is very overbought at the moment.

USD is a weekly chart so slow moving but trending... yes the dollars is very overbought.. but also testing a 7 yr green trend line on a weekly time frame.. so some profit taking is in the cards.. but over it.. you could see another leg up... similar to 97-2001.. not exactly a straight up line.. lots of back and forth.. but overall trending up ...none the less.. again if trends/patterns hold.. fwiw.

[BullBear52x]

I called this TA chart. it's how ones uses it and how success trading it.

???

You said: I honestly don't believe you can use TA for USD
unless you meant using USD as TA indicator is no no, agreed.

[Out of Bounds]

Covered short - no gain lost commission only

[fehro]

long long term GOLD/USD... green trend on GOLD is from 2001-2004 lows... major trend around $1200.. pink H&S doubtful, looks better on the monthly .. but if USD pops.. then crazy possible.. if they move in opposite directions... and IF the pattern plays out... but pink green line on GOLD near $1200 is key.. could morph into several other patterns... green bull flag, green triangle, etc, etc.. fwiw.

I honestly don't believe you can use TA for USD. When dollar broke down from the triangle in 2011, everyone sold dollar and bought gold. And then the opposite happened. I think one is better off to be contrarian and dollar is very overbought at the moment.

I called this TA chart. it's how ones uses it and how success trading it.

yes.. the KISS method.. don't anticipate & follow the rules! = success.

[Al_Dente]

Yesterday cum volume T-2104 swing sell signal
Yesterday’s spy candle was a key reversal (but some previous “key reversal days” failed... it’s fallible).
The "rules" for a key reversal top are to sell on the open following the reversal and to place stops just above the prior day's high

[Tutti]

long long term GOLD/USD... green trend on GOLD is from 2001-2004 lows... major trend around $1200.. pink H&S doubtful, looks better on the monthly .. but if USD pops.. then crazy possible.. if they move in opposite directions... and IF the pattern plays out... but pink green line on GOLD near $1200 is key.. could morph into several other patterns... green bull flag, green triangle, etc, etc.. fwiw.

I honestly don't believe you can use TA for USD. When dollar broke down from the triangle in 2011, everyone sold dollar and bought gold. And then the opposite happened. I think one is better off to be contrarian and dollar is very overbought at the moment.

Re technical analysis and the above. I've found that when looking at set ups if they look to obvious and/or there is a lot of noise around them, then the play,for me, is to aggressively fade, "everybody."

The only free cheese, my friend, is in a trap.

FreeCheese.jpg (44.83 KiB) Viewed 3336 times

[Al_Dente]

My rules for when a dead-cat bounce turns into a tradeable long INTRADAY:
1) higher lows, higher highs on the 5min
2) when Cobra says it’s a tradeable long INTRADAY

[jack black]

long long term GOLD/USD... green trend on GOLD is from 2001-2004 lows... major trend around $1200.. pink H&S doubtful, looks better on the monthly .. but if USD pops.. then crazy possible.. if they move in opposite directions... and IF the pattern plays out... but pink green line on GOLD near $1200 is key.. could morph into several other patterns... green bull flag, green triangle, etc, etc.. fwiw.

I honestly don't believe you can use TA for USD. When dollar broke down from the triangle in 2011, everyone sold dollar and bought gold. And then the opposite happened. I think one is better off to be contrarian and dollar is very overbought at the moment.

Re technical analysis and the above. I've found that when looking at set ups if they look to obvious and/or there is a lot of noise around them, then the play,for me, is to aggressively fade, "everybody."

The only free cheese, my friend, is in a trap.

FreeCheese.jpg

Well said! I do remember perfect TA settings with a lot of buzz and they all did fail. Market is basically about psychology. I do know a few psychologists that are successful at trading. Sadly I'm still learning.

[fehro]

Looks like day 4 of making profit by buying BIS in AM and selling in PM.
I honestly believe biotech is a bubble.
Compare NASDAQ 1995-mid 2000 and IBB 2009-mid 2014. Both went up about 500% in 5 years.

$BTK - weekly... not a pretty candle... at the moment...outside reversal / railroad tracks... gap down on monday.. island top

[Cobra]

it is 3 push down, so normally the rebound is 2 legged, it's 1st leg now.

[Mr. BachNut]

long long term GOLD/USD... green trend on GOLD is from 2001-2004 lows... major trend around $1200.. pink H&S doubtful, looks better on the monthly .. but if USD pops.. then crazy possible.. if they move in opposite directions... and IF the pattern plays out... but pink green line on GOLD near $1200 is key.. could morph into several other patterns... green bull flag, green triangle, etc, etc.. fwiw.

Watching silver pretty closely. Weekly chart.
Looking to make fourth hit on support. Each bounce has made lower high.
Descending triangle.
Big declining tops line for monthly trend.
A break of support may be good short. Hard to imagine a $3-$5 drop but pattern offers that possibility.
A break of triangle top/monthly declining tops line may be good long.
Don't care which and have no clue...