|
PureBytes Links
Trading Reference Links
|
Greetings Traders:
Follow-ups of market actions on Spot Gold from Friday's Close: Late Friday
market's action suggested a "shake out" for both the longs and shorts; not
tradable at that particular juncture but later formed a symmetrical triangle
to work on. The pattern suggested the market has already shifted to the buy
side of the market already. As anticipated, the early Asian opening of Gold
has traded higher; breaking out of the symmetrical triangle. As long as the
depicted Triangle isn't being violated to the downside; traders should look
for long setups on any reasonable pullbacks. Please also note that, to keep
in perspective, the market has also formed a POTENTIAL Gartley 222 in the
240-mins timeframe; along with a DAILY POTENTIAL "h" formation. At this
point in time, I will simply observe the current pullback actions of the
breakout in the 5-min timeframe for possible long entries. Please note that
it is important to get confirmation signal of the current pullback in order
for the long entry to play out. From a pattern perspective, as mentioned,
we have a symmetrical triangle to work on now. In terms of Harmonics, we
have two possible Harmonic patterns: 1) Gartley 222 and 2) AB = CD. Take
care.
Have a good one
Jeff Harteam
-----Original Message-----
From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On
Behalf Of Jeffrey Harteam
Sent: Friday, April 25, 2008 12:19 PM
To: OLM Group
Cc: Real Traders Group
Subject: [RT] Re: Spot Gold
Greetings Traders:
Further follow-ups of market actions to a post earlier this morning on Spot
Gold: From an intraday perspective, it turned out that gold was unwilling
to go lower; and has developed another bigger Gartley 222 Harmonics pattern
to go long again at the break of the down trend line towards point D (Please
note that there was another pattern at point D to confirm for a long with
very minimal risk exposure; which is the "h" pattern depicted). At the then
potential bottoming of the Gartley 222 at point D; it was contained by 3
fibs retracements & extension. (100%, 100% & 78.6%). The Exponential Moving
Average in slate blue is the 150 Exp.MovAvg; obviously could not contain the
current up move. It is now up to 250 Exp.MovAvg (in Black) to do its part to
stall prices. Break of the 250 Exp.MovAvg confirms intraday low is seen and
traders should look for long setups thereafter. Take care.
Have a good one
Jeff Harteam
-----Original Message-----
From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On
Behalf Of Jeffrey Harteam
Sent: Friday, April 25, 2008 6:53 AM
To: realtraders@xxxxxxxxxxxxxxx
Subject: RE: [RT] Re: Spot Gold
Hi Chas:
It is a demonstration that harmonics patterns occur quite often on various
markets, especially the Gold market. Yes, I did short the gold all the way
down yesterday; and traded for a swing up when I spotted the Gartley
Harmonics. Although, on other higher intraday timeframes; Short setups are
still in favor. At this juncture, the depicted Gartley Harmonics has given
me a +US3.00- profit (I close the longs already; as I'm still in favor of
the short setups on other higher intraday timeframes); and the 'swing up'
from Gartley pattern could very well be the Wave C of an A-B-C corrective.
Over all, the market is still on a sell mode. Hope I clear things up a bit.
Take care.
Have a good one
Jeff Harteam
-----Original Message-----
From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On
Behalf Of Charles Meyer
Sent: Friday, April 25, 2008 5:13 AM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] Re: Spot Gold
Jeff-
Is this for a trade? I'm not quite sure I understand the
consequences of
your charts. Uhh...I think you're saying that it was a
buy today for a
trade tomorrow; or for a swing up?
Best regards,
Chas
----
On Fri, 25 Apr 2008 06:25:04 +0800
"Jeffrey Harteam" <jharteam@xxxxxxxxxxxxxx> wrote:
> Greetings Traders:
>
> I hope everyone has benefited from last night's heavy
>intraday sell off of
> the Gold market. Gold has also formed a Gartley 222
>Harmonic pattern in the
> late trading hours; For now, intraday bottoming of the
>Gold market is in
> place. Please find attached JPGS for the said Harmonic
>Pattern in the 1-min
> and 5-min timeframes. Take care.
>
> Have a good one
> Jeff Harteam
------------------------------------
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/realtraders/
<*> Your email settings:
Individual Email | Traditional
<*> To change settings online go to:
http://groups.yahoo.com/group/realtraders/join
(Yahoo! ID required)
<*> To change settings via email:
mailto:realtraders-digest@xxxxxxxxxxxxxxx
mailto:realtraders-fullfeatured@xxxxxxxxxxxxxxx
<*> To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
Attachment:
AU 04282008 Harmonics (i).jpg
Description: JPEG image
Attachment:
AU 04282008 Harmonics (ii).jpg
Description: JPEG image
Attachment:
AU 04282008 Harmonics (iii).jpg
Description: JPEG image
Attachment:
AU 04282008 Harmonics (iv).jpg
Description: JPEG image
|
