Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Catching Big Waves - a trader's journal of surfing the the markets
Stop tightened again. If GC is going to move, it should not break the low pivot of the day. Volume is incredibly light and short sellers from early this morning may get stuck.
Still watching gold for what appears to be the beginnings of a wave 5. There is now a clear pivot in place that would invalidate the move, and thus a point to measure overal extreme risk. The break out of the symmetrical triangle was enoug for me to now consider this wave 5, until proven different. Volume was ver light and gold has been stuck in a very tight trading range for the past 24 hours.
I have added crude back to my screen setup this morning, making a new workspace to monitor both crude and gold. I have no immediate opinion on crude, other than it recently found support at the bottom of a channel, then found resistance again at the midpoint.
I am in no hurry to take a trade this week. had two GC entries yesterday, both offering 30-50 tick profits but I refused to close the trade as part of my current mental conditioning.