Short term gold targets

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Reasons for gold to possibly catch a bounce between 1530 & 1477 areas.. Possible test of the 61.8 [1644] shown here before heading lower?

Or simply head straight for hell?
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A look at the daily $SPX

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Who TF knows?! LMAO

Click picture to enlarge

Interesting #message from #FXCM #FX

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Trading Hours


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FXCM Extends Market Hours

FXCM has exciting news. In response to popular demand, we have decided to extend our market hours. In the past FXCM has opened between 5PM and 5:15PM ET on Sundays, and has closed at 4PM ET on Fridays. Starting December 9, FXCM will close at approximately 5PM ET on Fridays, giving you more opportunities to place trades and/or manage your risk. Please note that spreads may be wider between 4PM ET and 5PM ET because there are fewer liquidity providers offering prices during that time.

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A change I kinda like myself.. However, use it wisely..

Greg

Daily not so bullish $AUDUSD @simplegreen67

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I want to buy #gold too but not just yet - Here's where I'd LOVE to buy!

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Right there around 1213 would be the gold buy of the century..

;)

Weekly chart, click to enlarge


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To whom it may concern $GBPAUD m1 chart #FX

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Long from 1.5242 and 1.5233

Guest Post" QUAD TUNNEL CHARTING - Fred Adams @simplegreen67 on twitter #FX #trading

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I'm excited to have this post from a good trading friend! If you be an FX newbie looking for a place to start or a more experienced trader frustrated with searching for an effective "system" this post might be for you.

I can vouch for much of this system as I use parts of it myself, including the quad tunnel which Fred introduced to me. Thanks Fred!

So if, for whatever reason, you are in search of something to try in forex I can promise you this is definitely worth a look!

Greg

Source
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by Fred Adams @simplegreen67 on twitter

First I should introduce myself...I am moderator of the top FOREX board on Investorshub.com and handle there is simplegreen...on Twitter I am known as @simplegreen67.

Have been training traders and have been a technicals geek for quite a number of years and wanted to share one of my best technical toys.I call it a Quad Tunnel and all of my traders wouldnt trade without it..nor would I!

Years ago I was introduced to what some call a Tunnel.. I was not very impressed with it but believed it had merit and a solid base in Gann theory so I went to work and designed the Quad Tunnel which is absolutely my best work. It still amazes me that is has such power across all time frames. For sake of convenience I will refer to it simply as QT in much of my discussion.

The QT is built easily on any charting program.. its simply 4 color coded EMAs..but this complete template is specific to the MT4 charting program.

EMA(121)...red
EMA(144)...yellow
EMA(169)...green
EMA(196)...purple

Color coding is important! With the color codes I can merely glance at a chart and know instantly if its bearish or bullish simply by the position of EMA(196) ..purple line.

If 196 is at top of QT then 196 is resistance(bearish posture relative to time frame being viewed)... If 196 is on bottom of QT then it shows a bullish posture.

A Tunnel Twist is when the QT twists or turns over and thats important to watch for. Its the transition from bull to bear or bear to bull. As you install and gain experience in the use the QT you will readily see how it functions relative to price action.

This is a very simple yet powerful tool for a traders technical war chest.

I will now move on to the template design or chart setup that I use the Quad Tunnel in along with the other components of this template which is my best chart layout to date.. its VERY effective in making pips!

There are several other moving averages you need to install now.

EMA(625)
EMA(676)

This makes what I call an Extreme Tunnel and doesnt come into play very often but when it does it becomes a very powerful support/resistance area.

Next there are 3 Multi Time frame Movings avgs

MTF EMA(62) set for one min TF
MTF EMA(196)set for one min TF
MTF EMA(196)set for 5 min TF

This allows me to go to any TF chart and see exactly the condition of M1 EMA(62) and both M1 and M5 QT represented by an MTF EMA(196) on both M1 and M5 settings.

Now we move on to last part of main chart panel. I use 3 Dochian Channels..

Donchian(9)..white
Donchian(26)...red
Donchian(52)...yellow

Notice that the parameters for Donchian channels are same parameters used on a standard Ichimoku Cloud.. 9,26,52 and thats the logic behind using these params on the Donchian Channels.

Next I move on to the indicator overlay at bottom of chart.

Stochastics Histogram(24,3,3)
Overlay is a TRIX(7,2)

-----------------------------------------

That completes the building of the chart template that I use and will post this chart ..its an AUD/USD M30

Below the chart I have links for MT4 custom indicators needed.The MTF MA indie is functional but cant locate the exact source for the one I use so you may or not be pleased with the version I provide a link for.



Be sure to check out Fred's trading room on Investorshub.com

Get some gold?

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Talk about a f'ed up looking monthly chart.. Meet $EURAUD

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[Click chart to enlarge]

Going to be an anal #trading day? $GBPUSD m1 chart

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Interesting monthly candle $AUDUSD

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Greg

You too can trade FX like the Primary Dealers

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MF Global.. leverage 40 to 1

Jefferies.. leverage 13 to 1

Why so much leverage?

Deep pockets, that's why.. When you get all the free fiat and bailouts you want from the Federal Reserve Bank you NEVER have to accept a losing trade!

These guys "bet wrong" all the time but they simply, strategically, add to their losers until they can either achieve a break even trade or make a profit.

You can trade this way too!

But I NEVER use even 13 to 1 leverage.. Due to account size and risk.

Once in a great while I may get to 4 or 5 to 1 but, generally speaking, by then I'm quite terrified! LMAO

If you have a 300,000.00 account you can very comfortably trade 10.00 per pip..

A 30,000.00 account? 1.00 per pip

A 3,000.00 account? 0.10 per pip

A 300.00 account? 0.01 per pip

Using this technique you can pretty much do whatever TF you want in the market without fear of being virtually destroyed by one or two bad trades.

3 lots = no leverage. 6 lots = 2 to 1. 12 lots = 4 to 1. Etc etc..

Leverage is VERY important and often overlooked or not properly understood.

Be careful out there for God's sake!

Greg

It sure SEEMS like #FXCM is #stealing my #fiat at times @JasonForex

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Here is the same one minute chart on my instaforex demo platform.. Very odd..



Buyer beware..

Greg

#FX #trader wannabies.. this is serious shiite

---

First, if you don't already have something, you MUST have something else in your life that you LOVE doing that also requires concentration and execution.

That might be golf. It could be playing guitar. I suppose it could even be f'ing beautiful women.

Anyway.. the point being that you have something else in your life that you greatly enjoy, easy to do but difficult to master.

My own personal choice is 9-ball and I'm lucky in that I have a wife who enjoys playing too.

It soon became evident to me that there are times I seem to shoot very well and times that I don't shoot well at all.

When I'm not shooting well at all I tell my son I'm playing "knock the ball around" because that's what I do.. Nothing seems to want to work right, nothing will go down.

I shoot crappy when when I'm distracted. If I'm disinterested and just passing time, just knocking the ball around.

What I eventually realized is that when I'm shooting carelessly and not executing, even easy, shots I guarantee you my trading is suffering the same fate.

And when I am sharp in the market, running off nice long strings of winners, I'm very likely shooting a great 9-ball game.

So all I'm trying to relay here is that you need to at least listen to yourself. If you're in a foul mood, if your golf game sucks and you don't know, or particularly care, why, take extra precautions when trading or don't trade at all.

It just might improve your bottom line.

In the end it's the concentration and dedication to execution that matter.

Oh, and having a f'ing plan doesn't hurt either LMAO

So get with the program and join me in taking ALL the fiat away from those f'ing Primary Dealers and banks!

Taxpayers are counting on us to get all their fiat back from those bastards..

Lets not let them down.

Greg

m15 $EURAUD

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Daily $SPX is a confusing mess to me

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Check this monthly $SPX chart - $SPY

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Greg

Failure to execute due to fear must end.. $AUDUSD daily

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Failure to execute due to fear must end..

A touch of the bullish 23.6 and the bullish 13 EMA after a bearish 161.8 completion move MUST be traded long..

Yet I did not trade it..

Greg
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hanging on a bearish 23.6.. $EURGBP

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But it still seems like gambling.. euro pretty damned bullish at the moment.. no matter what one might think..

Some TRIX divergence but not stoch..
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Greg

Bear market is here! Are you prepared?

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Bear market is here! Are you prepared? <-- source
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Mike Larson | Friday, October 7, 2011 at 7:30 am

Have you viewed the brand new video presentation Martin Weiss and I have put together yet? Have you clicked here to watch America’s Financial Doomsday — at absolutely no cost?

I sure as heck hope so. Because I’m convinced more than ever that we are entering a new bear market, and a double-dip recession. And if you do NOT follow the powerful, step-by-step instructions we give here — to both protect your wealth and profit — I believe you’re going to regret it.

Why do I say that?

Because the evidence of a renewed bear market and economic slump is irrefutable. Just consider:

* The Dow has dropped 2,000 points in less than three months …

* The S&P 500 has dropped roughly 20 percent — the classic definition of a bear market …

* The Russell 2000 Index of smaller capitalization stocks just dropped to the lowest in 13 months …

As if that weren’t enough, the cost of obtaining dollars to pay off dollar-based loans is surging to three-year highs in Europe. Credit default swap costs for insurance on bank bonds — and European sovereign debt — is at or near record highs. Junk bond yields are soaring, while issuance of mortgage bonds and leveraged loans is plunging. Those are straightforward credit market indicators of extreme stress.

Meanwhile, on the economic front:

* The Conference Board’s index that tracks how tough it is for consumers to find a job surged to the highest since 1983 …

* Challenger, Gray & Christmas tracked more than 115,000 corporate layoff announcements in September, the most since April 2009!

* Home construction dropped 5.3 percent in August, pending home sales fell for the second month in a row, and new home sales slumped to the lowest since February.

Why a Replay of 2008
Is All but Inevitable!

Why are we back in the soup again? Why did the great post-recession rally fizzle out? Simple: We tried to paper over our problems with the same failed policies that got us into the mess in the first place!

We tried to combat a debt crisis brought about by borrowing and spending too much money we didn’t have by borrowing and spending even MORE money we didn’t have!

We tried to combat excessive leverage brought about by keeping interest rates too low and money too easy by pushing rates even lower and easing monetary policy even further!

We tried to deal with mega-banks that had delved too deeply in complex financial instruments by bailing them out and merging them into even BIGGER mega-institutions, rather than letting weak banks fail and chopping them up into more manageable entities!

Advertisement

Most importantly, and tragically, policymakers from Washington to Frankfurt to Tokyo learned the wrong lesson from the 2008 meltdown. They decided we should have a policy of “No more Lehmans” — regardless of the costs.


“This crisis has the potential to be a lot worse than Lehman Brothers.” — George Soros, hedge fund investor.
So now rather than just having a bunch of troubled banks dragging us down, we have troubled banks AND troubled sovereign nations! Greece is already on the verge of default, while Portugal and Ireland aren’t far behind.

Italy’s debt rating was just slashed three notches by Moody’s, while France’s debt costs are soaring due to fear its AAA is in jeopardy. Even the core of Europe — Germany — is taking heat as its potential bailout tab climbs sky-high!

Your Crucial Steps
for Self-Defense!

Nobody would like to be optimistic more than me. But as I’ve said repeatedly, when it comes to the markets, I have to be a REALIST. Hope has no place in investing strategy. So I continue to counsel you to:

Eliminate most of your stock exposure, taking advantage of bear market rallies to do so at better prices.
Eliminate exposure to real estate and riskier bonds, with the understanding that higher REIT or junk bond YIELDS don’t mean squat when the PRICE of your income-generating investments is tanking.
Add inverse ETFs as hedges and profit-generating vehicles on rallies until the big-picture fundamental and technical outlook changes.
Again, you’ll find much more detailed instructions in our America’s Financial Doomsday video, accessible online for free here.

Until next time,

Mike

Mike Larson graduated from Boston University with a B.S. degree in Journalism and a B.A. degree in English in 1998, and went to work for Bankrate.com. There, he learned the mortgage and interest rates markets inside and out. Mike then joined Weiss Research in 2001. He is the editor of Safe Money, Safe Money's Crisis Trader, and LEAPS Options Alert. He is often quoted by the New York Sun, Washington Post, Reuters, Dow Jones Newswires, Orlando Sentinel, Palm Beach Post and Sun-Sentinel, and he has appeared on CNN, Bloomberg Television and CNBC.