60 min Flow in International Commodities.

[beethoven]

Looks like there would hardly be any Pivots now, we have to use WRB stoplosses

I was playing the daily chart till now. But today's gap up (which is virgin new territory for Gold) forces me to rethink and move my stops high up as - I think - gold is in its last gasp upwards (exhaustion). It will correct any time now, so am moving the stops as per 60 min flow now. Saint will not approve of this switchover as this is basically giving in to greed.
Lets see how things turn out.
Bee

 

[Prabhjeet]

Even I was following Daily charts Bee, but after many Adds using Daily Pivots, I have now got into very large position and looking at these sharp upmoves after prolonged uptrend looks like we may reverse soon , hence switched to 60 min. charts

 

[Prabhjeet]

Is somebody following Copper, looks like the Breakout that it gave at 175 was a False Breakout, flowing pretty well on 60 min. charts though

 

[musicjunkie]

nobody looking at 2 bar for gold 60min?

MJ-

 

[Saint]

GOLD 60min FLOW:

Gap up over consolidation,WRB followed by 3 more bullish bars......2 bar method comes into play.

As 4th Bar not clearly away from the 3rd bar high,my stops remain at the low of the first bar.....basically LOD-f

Saint

 

[Saint]

Is somebody following Copper, looks like the Breakout that it gave at 175 was a False Breakout, flowing pretty well on 60 min. charts though

Yes,Prabhjeet....what we thought of as a possible new move turned out to be a rising wedge,or a bear flag,however you draw your lines....more importantly,a bearish pattern.

Saint

 

[Prabhjeet]

Yes,Prabhjeet....what we thought of as a possible new move turned out to be a rising wedge,or a bear flag,however you draw your lines....more importantly,a bearish pattern.

Saint

Already drawn my envelopes around Copper sir and intrestingly if I had followed the envelopes that I discussed earlier in this thread, would have never gone long then

Waiting for Breakdown now

 

[santhosh44]

what a move 2day.. gold above 15350

 

[Saint]

what a move 2day.. gold above 15350

SAR to 15186-f

Saint

 

[Saint]

A WRB after a series of Bullish Bars....in 10mins,stops raised to 15248-f

Saint