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RichRock

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RichRock last won the day on March 9

RichRock had the most liked content!

About RichRock

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    UK
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  1. ****SOLD***** 3 x 10oz Queens Beasts, 2017. Capsules have scratches, coins have never been removed from capsules and are in excellent condition.
  2. wanted WANTED ENGELHARD & JOHNSON MATTHEY SILVER BARS/INGOTS

    Welcome. What size/s are you looking for?
  3. Richard Rock's Trading and Chart Analysis

    Closed my 16.50 Silver long here at 16.50 after waiting 10 days for this price action to get going. Made a grand total of +0%. Stalled a couple of days ago and dipping now just after Non Farms Payroll, jumping out incase we have an avalanche. Still holding Gold short from over a month ago (check previous posts for charts etc). The last month has been very slow, but not too concerned as I only managed a couple % loss during a month that subsequently turned out to be a large monthly pin bar on Silver. The question is, how long before the crap hits the fan and panic reappears in the market? I'm looking forward to some volatility in the weeks/months ahead.
  4. Richard Rock's Trading and Chart Analysis

    Clipped out @ breakeven @ 16.42. +0%. Long 16.50, stop 15.58, possible target +18.48/54, Risk: 2%, going back to longer term trade. Levels on Chart.
  5. Richard Rock's Trading and Chart Analysis

    Previous Silver Short @16.17 stopped out, -1%. Gone long here at 16.42, Stop 16.38, Stop to break even @ 16.47, 0.5%, target open. Current price at time of posting:16.45
  6. Richard Rock's Trading and Chart Analysis

    I discussed a possible Silver Short set up in a previous post here, but looking at price action, I have decided to enter here at 16.17, just shy of the original price. I am changing the original stop level and going for a mid term trade, new stop is at 16.47, slightly above a confluence of Fibonacci levels (these Fib levels will depend on individual broker's decision of the flash crash bottom price). Risk is reduced from the original 2% to 1% as I don't have much room for error with a smaller stop level due to Silver's volatility. Looking at the original chart (1st Chart below), you can see the reasons I was looking for this price point, and in the newer chart today, you can see this level reached. Many factors come into play at this $16.17-20 level. As I see it (2nd Chart below): We are about to touch the mid term upper trend line, sometimes price falls before actual levels reached due to others (like me) not wanting to miss the main move and jumping in a few pips early. Others waiting for higher levels may be disappointed (or not, if I am wrong.) Price is at the longer term trend line (broken through on the 3rd of July) and we are now testing this previous support level, price stalling here may ensure a firm support turned resistance area. Stops can be brought much lower and allow a higher profit target % with a lower risk of 1% to achieve an as yet undecided profit level. Profit level will depend on price action, I will be babysitting this trade until in the green and stop brought to break even before trailing. As we know, the market is the market and I could be completely wrong, but in my view this could be a worthwhile entry point. Details of all trades on my blog RichardRockFX
  7. Richard Rock's Trading and Chart Analysis

    If you are looking for a live Silver chart to stick on your website, then most people use this one, should be ok for your Vietnam web because it allows you to change the chart language, and supplied with html code, it posts quite small on webpages if you want, but they want you to link back:https://www.kitconet.com/
  8. for sale Lot of 5x silver Britannia's less than spot

    And there was me thinking 'I'll grab that in a moment...'
  9. Goldsilver.be: no progress. Are they on holiday?

    Transferwise is good, goldsilver will have received your funds if the transferwise site/email told you they received them.
  10. Richard Rock's Trading and Chart Analysis

    The last week's trades: Uneventful week for my trades, apart from my EUR/USD being stopped out at -1% in the chop at upper trendline. Not looking for a re-entry here, I don't revenge trade. Will stand aside on the Euro for now. The Gold short is slightly in profit, but could go into negative whilst the longs think they have a chance before they get slapped. It's a long term trade and I'm playing the weekly/monthly's on that one, so no stress there. If it drops hard from here, then fine and dandy. Silver pending order placed on Friday @16.20 got to about 16.10 before retreating. Want to see a spike through my Short entry zone into a cluster of stops and some capitulation to enable a hard fast drop. Will hold order into Asian open, because as you know, tongue in cheek, Silver traders like to sell the total annual world Silver production during the first few mins at start of Asia into the lowest volume possible. Some would call it rigging, some would call it stupidity. I would call the recent moves in precious metals the normal 'nothing to see here' scenario and simply a spirited drive to flush out all last remaining longs in the market. The bottom may be a fair distance away yet, there is blood on the streets, but it's not quite flowing enough for me to long the precious metals just yet. Time will tell. Upcoming trading week: I Shorted GBP/USD last year at the 1.3350 level and was as surprised as everyone else when we hit 1.24. Good increase to the account. I was even more surprised when it carried on down another few hundred in a 'flash crash' (many of these flash crashes around these days, aren't there?), much to the dismay of the Bank of England and British importers. I have been waiting on the sidelines forever and had marked an area of around 1.3275-1.3375 for another short re-entry. I'm thinking, as a contrarian and outside of the sheeple pen, that most GBP shorts are going to be cleared out here above 1.30 resistance broken on Friday. The Shorts will jump ship into confident Longs only to be dropped hard from 1.33 ish, and I mean a long hard drop to retest the bottom. We are only a couple of hundred pips here at 1.3070 from a possible Short entry point, but I want to see how Asia throws the dice tomorrow night. Janet Yellen began to behave like a schizophrenic during her briefing this week and can't decide if the US Economy is doing well and rates need to rise quickly, or if indeed she has just been lying and the rates are coming home to a Zeroville near you. One thing I can guarantee, the smart money left the stock market a few months ago. Smart money knows when stupid people lie. This coming week is going to be one of two things, shockingly frantic and surprising, or shockingly static. The days of nicely up and nicely down trends and plenty of volume disappeared after the 2008 Central Bank comedy show. I will post a GBP/USD Chart as soon as I enter, if the opportunity presents itself above 1.32-33 area Details of all trades: RichardRockFX
  11. Richard Rock's Trading and Chart Analysis

    EUR/USD Stopped out for -1% due to choppy action as predicted in first post, was worth a shot though due to high reward/low risk. XAU/USD in the green at moment. Looking for a GBP/USD Short soon around 1.32-33 levels, will post update when nearer price, currently @ 1.3075 Pending XAG/USD Short, 2% @ 16.20:
  12. Richard Rock's Trading and Chart Analysis

    Hi, this thread is aimed at people who already have some knowledge of trading, however if you are completely new to trading and want to learn the basics, I recommend this free course here: Learn Forex Trading that will take you through the basics step by step from complete novice to being able to take your first trades. It concentrates on Forex, but the principles are mostly the same across all markets. If you have any questions, I or others will be able to help if you post them here: http://thesilverforum.com/forum/66-general-market-trading-discussions/ Hope this helps, Rich
  13. I use Candlesticks in my trading. Other traders use bars, lines, or just numbers. Candlesticks are more effective in longer time frames such as Daily/Weekly/Monthly, but I also use them right down to 4hr/1hr and 30 mins to get a general idea for fine tuning an entry/exit. What is a Candlestick? If you look on my recent simple chart for Gold below, the red and blue vertical rectangles are called candlesticks. Blue is a bullish candle and red is a bearish candle. Various colours can be used, such as black/white/green/red etc, but the main thing is to be able to quickly glance at charts and recognise instantly what is going on with the price action in that particular time frame. : Each Candlestick tells a story and consists of an opening price, closing price, high and low for that time period, such as below. In this scenario, the white candle is bullish and the black is bearish. Candlesticks can be used to determine potential trade setups due to the patterns they can make. These are Candlestick formations and show me the price action and areas of potential trend reversals, or confirmation of the trend. There are numerous formations, but by studying these patterns you will come to see them over and over again in your charts. They are not be any means definitive, some have a higher chance of success than others and what can look like a definite reversal can turn out to be completely wrong. These formations are a guide, but the market can change direction quickly and violently at any point rendering your 'perfect setup' invalid. This is just the nature of the beast and over time you will come to recognise 'painting the charts' and other tactics to entice traders into to wrong side of the market. Brief description of many common candlestick formations: By looking at the charts, we begin to see how these formations signal possible price reversals in a down trend: ...and in an uptrend: Patience is the name of the game and not rushing into the market, but instead allowing the market to present you the best opportunity for your entries and exits.
  14. Sovereigns , bullion or numismatics

    Secondhand Sovereigns from HGM or Atkinsons