Here is a simple way to trade the Gold drop. On the left is the H1 chart of the May drop. On the right is the H1 current chart. The white line is a 10 period EMA. Sell when price approaches the 10 EMA. Close after 15 to 20 dollar drop. Sell again ...

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I just closed half the gold shorts. I expect a bounce around this level. Not much, maybe $10 but will reenter when completed.

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I trade with my Extreme TMA system. I have a thread for it that I started in 2012. I have changed it quite a bit since those days, and it is still making steady pips today. The MA´s are just for visual reference and are not part of the system itself. ...

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I am trailing price by $7, so if it bounces, no problem. It looks pretty solid down though. I would not try to catch this falling knife...

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The Gold Sell Megatrade is going well. Entered at 2467 and now 2445 and getting better. Hopefully will reach TP by Monday if all goes well.

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I know. I will probably get stopped out. If I do, I will reenter after the first Red H4 candle close.

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By the way, I am in on the Gold Sell Megatrade. Entered at 2467 and if it drops, will ride it to the Green TP line. Already set the stop at BE, so no risk on this ride.

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I am probably wrong, but I have gotten burnt too many times in the distant past with TDI H4 divergences...

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TDI inputs attached. The chart is H4.

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I will refrain from joining you in this one. On the attached H4 chart, the divergence on the TDI is very clear. EU is at a very overbought level, if the 10 MA (White) crosses the 20 EMA (Orange) it could be a big drop. I will watch from the ...

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I would set the TP to 2366 which is the 61.8 Fib of the upswing. That would be a similar fall to the one in May. If it breaks down, I will trail the stop giving it room to breath and let the TP or the SL take me out. You would know it is happening ...

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I cloned the channel (Pink) from the upswing in May and applied it to the current swing. They are uncannily similar. We´ll see if we get the same results.

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What trendline are you referring to? Thanks.

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Pedro, when the market goes against you more than 5% DD, do you ever advise hedging instead of taking the loss? I have rarely been successful hedging myself so I generally clean the slate...

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You can count me in for the seminar. I am eager to learn more about harmonics.

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Is that a M1 TMA on your chart? What indi are you using?

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Where do you see the bottom of the retracement swing? I have the 38.2 Fib retracement at 2402.

Gold

I don´t think they will cut till the end of the year and after they see what happens after the election, but you never know. The Fed is usually behing the curve so who knows.

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It should be a repeat of what happened in 2016. The dollar stronger and the Euro weaker. Gold weaker. This should play out till the election. Remember also that Trump will hit China with a 10% tariff. That will also increase inflation in the short ...

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Exactly... and a lot more to come during the next few months...

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