Gold buy off of measured move

FX:XAUUSD   Gold Spot / U.S. Dollar
381 26 1
Gold             should bounce off the 1305-1307 level off a measured move of triangle breakout and 50% fib from june low to august high. Strong daily close below this level and price could head down to the 61.8 fib at 1277
i dont think so gold should go below 1180 around $970-$990
I am not a bull or bear, will traded S&R as it happens. One possibility I see setting up is a H&S, with neckline at 18 9 2013 low on the daily. Break of neckline would be piling on the shorts. Bounce off the neckline would scalp the bounce.
isomorph fxtrader66
sounds advice.
alex.a fxtrader66
I'm kind of newbie here. What is S& R and H&S(head and shoulder??) ... TF by isomorph ???
isomorph alex.a
S/R = SPPT/RSST = support/resistance
H&S = correct
TF = timeframe
TL = trendline
SL = stop loss
TP = take profit = target
DPP = daily pivot point
MPP = monthly pivot point
WPP = weekly pivot point
DPS1 = daily support 1 pivot point and so on
SG = stop grabber
DB = double bottom
DT = double top
TB = triple bottom
TT = triple top
HH = higher high
LH = lower high
HL = higher low
LL = lower low
BB = bollinger band
BB1 = bollinger band standard deviation 1 band
BB2 = bollinger band standard deviation 2 band
mid-BB = middle bollinger line
OB = overbought
OS = oversold

Joe DiNapoli terminology:
K-area = 2 different fib retrace level from 2 different structures drawn with the same end point but different starting point; when 38.2% and 61.8% retrace levels are kinda close together, they define a confluence area called K-area
a fib trend line projection structure (ABCD) has COP, OP, and XOP levels, i.e. COP = compressed objective point = 61.8%, OP = objective point = 100%, XOP = eXtended objective point = 127.2% or 161.8%

if you are new to all this, head on over to forexpeacearmy.com and peruse sive morten's analysis of gold and eur/usd (daily and free and excellent and a great example of simplicity, all based on Joe DiNapoli's approach). sive also has written an extensive online book with everything you need to know to trade well, in the edu section of same site, always all for free.

hope this helps.
alex.a isomorph
It was a single greatest help that I have ever gotten ~ thanks -
isomorph alex.a
you're welcome. that's what a social app should be for. help each other instead of just spouting BS at each other and posing. 1 small step at a time, 1 small step at a time ... and maybe the world will get better.
alex.a isomorph
What is BS? May I ask?
isomorph alex.a
BS is slang and means 'bullshit'
where are you from? i guess you are not a native english speaker. what's your native language? maybe i can translate it.
alex.a isomorph
I'm just not into internet enough to acquire knowledge about all those abbreviation... ><
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