Tip Alert: Possible Long For Gold

Shown is the 15-minute chart of Gold, triangle formed, possible long.

Possible Entry: 1275
Target Exit: 1281
Stop: 1272
Note: Let see if it will work (experimenting for Tip Alert trade update)

Gold Short Trade Setup

Good timing to short the market today, for it's the first day of the week, participants are not that inclined to rally the market. Nice timing if you can enter short at the 'push-up' as shown from the upper red arrow and exit (cover) at the support (lower arrow).

Just for the info...

Though I have been involved in the market as a trader, it doesn't mean I don't believe in 'confounding interest', so just to show my investment philosophy in the long term, I am showing my small investment from this firm (as shown below), hoping I can share something.

Also, I might lessen my market participation in the coming months or so for I need to balance my involvement in the market for I sense that too much (or deep connection) participation is not that quite good on my part, so I am planning to accept a new challenge to my previous endeavor as an Electrical Engineer, I am inclined to accept an offer as a 'Quality Control Specialist' in a cable company here in Anaheim, California, it manufactures large quantity of low voltage cable that supplies globally. So it's a new challenge for me and I will give it a good shot. At least, I have some diversion from the market, I can balance myself.

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.