Friday's Gold Trade Setup

Friday's market was slow, and was not that inclined to put (a trade) nor participate but the price action and some recognition of the pattern in the Gold last Friday's session 'urge' me to place a small trade and test the market. First entry was a failure and got stopped for my stop was too close/tight. Did not bother to place another trade for it seems the market was not that favorable. After some few hours of watching the market action, decided to place one more try for I am quite positive with my conviction that there is this pattern that is emerging that might turn into a good setup. The overnight session formed a deep cup (or a 'w' like), and a 'triangle' like formation (as shown) led me to place a small trade. I'm actually anticipating a cup with a handle formation here, but it fails. Maybe by Monday's session the handle will materialize, let's see.

Entry:   12863; 9:35 am.
Exit:     12892; 11:02 am.
Gain:    29 points x $10 = $290.00
Note:   Able to recover the first loss of 10 points ($100)


(below is copy of real trade)
Order Book Filled
Snapshot 15 Nov 2013 9:05:15 AM

Buy/Sell Volume Fills Submit Time Time Account Market
Sell 1\1 1@12892 11:02:29.842 AM 11:02:29.855 AM traderdg1 SIM:Gold Dec13
Buy 1\1 1@12863 9:35:06.006 AM 9:35:06.105 AM traderdg1 SIM:Gold Dec13
Sell 1\1 1@12859 7:49:18.090 AM 9:25:07.217 AM traderdg1 SIM:Gold Dec13
Buy 1\1 1@12868 7:48:12.706 AM 7:48:17.430 AM traderdg1 SIM:Gold Dec13

Addendum: My decision to exit at the upper arrow was because of that 'indecision' bar, and the price action from this area at that time is not convincing from my standpoint. Other than that, the level of resistance is noticeable.

Overnight Trade Setup From Gold

As they said from Japanese words, making money is like digging (in) a sand with a pin ( a needle? or words to that effect), so to make money in trading you need to do something like this trade setup from Gold in the overnight session. You need to stay awake to be a Gold 'digger', in this kind of market or trading business, as an ordinary participant where your own advantage is your observation against the well capitalized/well equipped/brightest market participants, all you have to do is to snipe when they are out. Most of the time you can't beat them, but with patience like that 'words' from the 'arigatus', you can still outsmart them!

Short Trade Setup From Gold

Gold was indecisive from the overnight session only to drop hard late into the market closing. It formed an 'h' pattern like, as Jamie from the Wall Street Warrior always posted from his blog. I wonder what's going on with Jamie these past months, I haven't seen any new post. Anyhow, this 'classic' pattern from Gold today is one of his favorite trade setup.

Hard Landing From Gold

While all the major indices made a nice upwards move in Friday's market, the Gold suffered a hard landing to the floor (ouch...) as shown from this 15 minute chart. The market last Friday were all positive because of encouraging jobless report. But for the Gold which is my/the main instrument in tracking/finding trades suffered the most. Not able to catch this encouraging 'short' due to some pressing matters, that could have been a slam. Been missing a lot of moves lately, will just bounce the next time around.

* The reason I'm quite busy is because of my project, I am building my own customized (just for fun) target shooting made from scratch. I am building a 22 LR 1911 model that I will convert from a 1911 airsoft blowback pistol, I don't know if it will work, but I am just experimenting it just to have something to do and to practice my own learning in gunsmithing hobby. Below are some of my parts that I have already in mind/ready to acquire for my initial preparation.

Specifications:
- Velocity: 320 fps (0.2 g BB) / Range 90-100 feet
- Barrel Length: 5 inches / 12 cm
- Magazine Capacity: 17 Rounds
Features:
- Full Metal Construction
- Fixed Front & Rear Sights
- Authentic Trademarks
- Green Gas Blowback Action
- Accuracy Proven


$95.99
Item Code:
GP-PS-1911-0516
UPC Code:
29858805056
Guns Styles / Models:
1911 Airsoft Pistol
Airsoft Manufacturers:
Soft Air Cyber Gun & Palco
Manufacturer Part No: 18050516
Stock: Ships in 1 Week
Model: 1911 GBB Airsoft Gun

GSG .22LR 1911 Conversion Kit w/ 10rd Magazine GER1911CONV
Special Price: $149.99

Quick Overview

A drop in slide conversion kit from German Sports Guns. Converts your .45 1911 pistol to a .22LR 1911 pistol. Comes with slide, barrel,one ten round magazine, and instructions in a plastic storage case.

The GSG conversion kit is designed for full sized (Gold Cup/Government/Combat Commander) 1911 frames (it will not fit the Officers/Titan sized frames), and it comes with the parts kit to work on both 70- and 80-series type 1911 pistols.

Is "STUCK" or STOCK...that's sucks...*

Stuck futures up on hopes stimulus to continue; Tesla stumbles

Reuters – 11 minutes ago

 

By Chuck Mikolajczak

 

NEW YORK (Reuters) - U.S. stock index futures rose on Wednesday on the possibility the Federal Reserve may keep stimulus measures in place longer than anticipated ahead of data key later this week on the labor market and economic growth.

John Williams, president of the San Francisco Federal Reserve Bank, said Tuesday the Fed should wait for stronger evidence of economic momentum before pulling back on its massive bond-buying program, but should then announce a definitive end to the stimulus.

Adding to speculation about a more dovish Fed, two of the Federal Reserve's top staff economists made the case in new research papers for more aggressive action by the U.S. central bank to drive down unemployment by promising to hold interest rates lower for longer.

Many market participants have expected the Fed to hold off on scaling back its $85 billion monthly bond purchases due to expectations that a partial government shutdown in early October has hurt the economy.

The S&P 500 (^GSPC) is up 23.6 percent for the year, putting it on track for its best yearly performance since 2003, boosted in large part by the Fed's stimulus measures.

S&P 500 futures rose 8.8 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 67 points and Nasdaq 100 futures added 12.25 points.

Tesla Motors Inc (TSLA) shares slumped 11.1 percent to $157.15 before the opening bell after the electric car maker forecast a weaker-than-expected fourth-quarter profit and posted third-quarter Model S deliveries that disappointed some analysts.

Microsoft Corp (MSFT) edged up 0.6 percent to $36.85 in premarket trading after sources familiar with the matter said the world's largest software maker had narrowed its list of external candidates to replace Chief Executive Steve Ballmer to about five people, including Ford Motor Co (NYS:F) chief Alan Mulally and former Nokia (HEX:NOK1V) CEO Stephen Elop.

As earnings season moves into its tail end, S&P companies expected to report earnings on Wednesday include Qualcomm Inc (QCOM) and Whole Foods Market Inc (WFM).

According to Thomson Reuters data, of 404 companies in the S&P 500 that reported results through Tuesday morning, 69.6 percent beat Wall Street's expectations, above the long-term average of 63 percent. However, just 53.3 percent beat revenue forecasts, below the 61 percent average since 2002.
European shares rose, erasing the previous session's losses, on better-than-expected results. (.EU)

Most Asian markets were little changed amid uncertainty over monetary policy in the United States and Europe, though Japanese stocks rose, thanks to gains in major car makers.


* Just read this column from Yahoo news...

Halloween Market

It's the first day of November, a Halloween day, no idea if the market is conducive to trade or participate today, the way I can see from the market today is quite confusing. Maybe there might be a last 'minute' trade before the close, but I think lots of noise might happen early in the market. Though the indices are on the positive trend as of this posting, the futures are in quandary. We'll see how it goes, will just do net surfing for the day and do some/search other activity/interest for some diversion, sometimes we need to take a break/stay away from the market once in a while. Though it's so hard to be away from the market when you are so 'attached' to it (seems better than having a partner?), especially if you sleep and breath with the market, in bad times and in good times, in losing and in winning, love the market is what you do.

!@#$%^&*(+? Setup For Thursday

With this 15 minute chart from Crude, I don't know ever since I learned trading in '07, no idea if I can trade this s#$%@&*...

Addendum: I think it's for Halloween?