Tokyo Session – Gold Analysis, 03-10-2014

Tokyo Session – Gold Analysis, 03-10-2014

Analysis Kang Gun Technical

Please visit the author blog at http://www.lemurianfx.com/

It's now we analyze the chart using "KG Wave"

Session market operates Tokyo recently and the price of gold in the open at 1213.45 price. Price dropped straight down the opening price. Observing the movement of gold a few days back, when viewed from the point B at a price of 1231.31 till now, the waves that form wave pattern formed looks still down. The wave pattern down from point B will be failed if price able to move above 1223.35.

But if considered from the point C 1204.48 to the current price, then the waves that form wave patterns seen already shaping Up. And Wave Pattern Up from point C will be failed if price able to move below the price of 1204.64. Yesterday on Thursday successfully recorded the highest price of gold at 1222.42 at the Tokyo session, and then the price moves back down and hit a session low of 1208.74 in London. Observing the current move down based on the movements that occurred yesterday of 1222.42 points, then I can conclude that the current gold was in the area between 1208.74 and 1219.04 Sideway.

Based on the earlier wave pattern approach 1223.35 points and 1204.64 points is a benchmark that can be used to determine where the next trend of the movement of gold. That is, if the price moves above 1223.35 then in view of point B wave patterns that occur will form a wave pattern Ride, and this would certainly increase the probability the price to move up to point B or maybe even higher. Conversely, if the price moves below 1204.64, then in view of point C wave patterns that occur will form a wave pattern down, and also means that the probability for the price to move towards point C may be lower or greater.

Similarly, analysis today hopefully useful and help your strategy today, and I also hope that you all want to spread the link of this analysis in social media you use. Thank you.

TOKYO SESSION – GOLD Analysis, 02-10-2014

TOKYO SESSION – GOLD Analysis, 02-10-2014

Analysis Kang Gun Technical

Please visit http://lemurianfx.com/ for further information

There are six points I marked on the chart to observe the wave pattern of price movements that points A, B, C, D, E and F. And of the last three observation points, namely D, E and F, appear only on observations made from the point D form a wave pattern down, the other of the two observation points E and F waves that form wave patterns still show Up.

The wave pattern down from point D will be failed if the price is able to move up higher than 1220.13 and Wave Pattern Up from point E will failed if the price is able to move down lower than 1204.64. Currently 1220.13 price point E in my opinion is very important because if price able to move higher than the mean wave pattern of point D will change form a wave pattern up. While the point D at this time is one of the lowest point of the main wave movements that make up the gold.

Hope it helps and inspires you all today.

Source : http://lemurianfx.com/tokyo-session-gold-02-10-2014/

NEW YORK SESSION – GOLD Analysis, 01-10-2014

NEW YORK SESSION – GOLD Analysis, 01-10-2014

Analysis Kang Gun Technical

Please visit http://www.lemurianfx.com/

I try to look at what happened on tonight's gold movement from point C, D and E based on the picture above. From point C waves are formed is still in Wave Pattern Up, and this pattern will be failed if prices go down lower than 1204.48. From point D waves that form wave patterns are still in the fall, and this pattern will be failed if the price moves up higher than 1220.13. From point E waves that occur already formed wave down pattern, and this pattern will be failed if the price moves up higher than 1211.81.

Downward movement of gold in view of 1220.13 points reaching its lowest point at 1204.64 which occurred in the Tokyo market session this afternoon. The current price is in the range of 1209.68, meaning that when viewed from the point E 1220.13 then the movement is currently located in Sideway Movement Patterns. And Sideway movement pattern that occurs at this time is in between 1204.64 to 1210.42 while the highest price at this time.

Hopefully this information helps you all your trading strategy tonight, goodnight.
Source http://lemurianfx.com/newyork-session-gold-01-10-2014/

TOKYO SESSION – GOLD, 01-10-2014 by KG

TOKYO SESSION – GOLD, 01-10-2014 by KG

Analysis Kang Gun Technical

You can see full analysis here http://www.lemurianfx.com/

Formation or wave patterns that form the gold this morning looks interesting. Look at the image below:

When viewed from point A and B, then price waves formed at this time is already showing wave pattern down, whereas if viewed from a point C then when the wave Pattern still shows up. From point D waves formed prices still are in a wave pattern down.

Wave patterns up from point C would be failed if gold was able to move down below the price1204.48. While the wave patterns down from point D will be failed if price was able to move up the price above 1220.13. Observe the movement down that happened from the point of 1220.13, in the picture above is clearly visible that the pattern of price movements is currently located in the area between Sideway 1204.77 up to 1211.81.

Source : http://lemurianfx.com/tokyo-session-gold-01-10-2014/

Why You Must Bactesting

Why You Must Bactesting

basic Technical

Backtesting is the phase that must be traversed a trader. Backtesting is the test of a trading system using past data history. By conducting a backtesting expected traders can find out the weaknesses and strengths of a trading system so that it could be a consideration whether the systems are suitable for running. By conducting a backtesting makes us different to a gambler. Because the data is valid based on backtesting while gamblers use good luck. Of course you're a genuine traders instead?

 

Backtesting is very necessary because it helps the trader to determine when the entry or exit. By knowing when the entry and exit points then expected the trader can calculate odds and money management. And when confronted with the real market trader he doesn't hesitate with its own trading system.Backtesting can also increase the confidence of a trader. Because he was convinced by his trading system after he does backtesting.

 

There are two kinds of ways to do that is with backtesting manual way or use the EA (Expert Advisor). There are advantages and disadvantages of each. For the manual way would of course be time consuming, because we have to test one by one. But more efficient because we do not need to order EA. Whereas EA have advantages over time-saving and efficient, but we must reserve in advance or EA we are able to make it on their own. Makes its own EA, required special programming skills.

 

Are you already doing Bactesting of your trading system?

Don't Be an Emotional Trader

Don't Be an Emotional Trader

psychology

In his book "The Disciplined Trader" Mark Douglas says that there are seven characteristics of the objective, they are:

1. you don't feel pressured to do something.

2. you don't feel fear.

3. you don't feel fabricated.

4. you don't feel justified or condemned.

5. you are aware that the market is telling you to do a certain thing, then you do it.

6. you can rate or observing the market as is the case when you don't have any position (even if You're in a certain position).

7. you don't focus on the money, but the structure of the market.

When you can see these traits in yourself, then you've done the right thing. In trading, you don't have to be 100% correct, but you have to be objective.

Martin J. Pring says that a trader must not be "married" or "hostile" of a pair of currencies, because the pair had given the profit or loss. Once again, be objective in choosing a pair of currencies based on fact, combined technical analysis fundamental analysis as well as a good money management.