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Good job swanieBullTart wrote:Still watching the Iran and Oil setup here... ZH posted a Reuters report that the EU has agreed on an embargo of Iranian oil in principle.
BS Alert: Iranian Oil - BS 4
As a nominated BS (Black Swan) monitor, I am giving this a BS level of 4.
BS level goes from 5 to 1, with 1 meaning that BS event is just about to happen.
I MISSED YOUuempel wrote:Thanks and Happy New Year!Al_Dente wrote:1 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =250028427
True.alvian33 wrote:well if I always wait and see, I will never trade, I need to trade based on what I expect and then see, otherwise, it's not tradingKENA wrote:In addition to Cobras quote..Look at the GLD chart from last April..You will see it had a sideways move then big leg up then Sept big dn leg .Then developed a H & S and now broke dn.( this chart has a lot of education in it) It has support at 143 but could have more dn side. But who knows..Wait and see.alvian33 wrote:Cobra, what do you think of Gold? Do you think it's a short, will it retest the lows? or better to stay away for now? thanks
Trendline also correlates with a 61.8% fib retracefehro wrote:just a tad lower?
No rush, it is probably better if you never trade.alvian33 wrote: well if I always wait and see, I will never trade, I need to trade based on what I expect and then see, otherwise, it's not trading
Cobra I cannot find your explanation of L1 L2 etc. Where do I find it??Cobra wrote:Normally, there should be a 2nd leg down, but I won't short this L1 (if indeed, not yet now) on EMA20. I'd wait at least L2.
Cobra wrote:Normally, there should be a 2nd leg down, but I won't short this L1 (if indeed, not yet now) on EMA20. I'd wait at least L2.
looking like second leg up here. -_-lqiantobe wrote:Cobra wrote:Normally, there should be a 2nd leg down, but I won't short this L1 (if indeed, not yet now) on EMA20. I'd wait at least L2.
second leg is coming