If price breaks down on 1640.50, first major support line is 1625.40 /1620.74. Before that, 2 smaller: 61.8% Day Support at 1639.06 and 23.6% Day Support at 1629.35. And price did break it. I will wait for it to come back and confirm it as a ...

Gold Mining - Using Each Trading Day's Trend

Just like I am waiting for bigger pullbacks and they don't come always, so there are times I miss my train. Still learning the price movement. Still looking at 1640.50, price is holding it. If it does hold it, I expect bigger growth. We'll see.

Gold Mining - Using Each Trading Day's Trend

Update: closed long at 1648.78, looking for another entry around 1645. image Did some scalping at 1645, now waiting for possible pullback down to 1643.76 (50% QS), wouldn't be surprised if price makes pullback to 1640.50 due to the upcoming news.

Gold Mining - Using Each Trading Day's Trend

Price found support at 1640.50, first resistance line 1643.76 (50% Quarter Resistance). One more push down and buy to the next resistance at 1648.78 (100% DR). Also H4 candle opened above 1640.50

Gold Mining - Using Each Trading Day's Trend

Looking at 1640.50. If price can't break it right now,it will become resistance line and price should fall down to 1629.35/1625.40. If price breaks 1640.50 I will wait for it to retest it again as a support line and enter long.

Gold Mining - Using Each Trading Day's Trend

Morning Bite, yesterday Gold did some huge movement. I will look its behavior at 1625.40 (61.8% WS) - 1623. 34 (100% DS). It is possible price will find support there. If it does, buy up to 1648.78 (100% DR) - 1655.61 (38.2% WR). If it doesn't reach ...

Gold Mining - Using Each Trading Day's Trend

Yeah, huge movement. Didn't expect this high today, maximum to 1619. Will see tomorrow for new opportunities.

Gold Mining - Using Each Trading Day's Trend

Of course, I closed my trading at 1604.40 with nice profit, scalping. Looking for another entry. Closed it because I feel more comfortable with it after this expansion. Do what you feel comfortable with.

Gold Mining - Using Each Trading Day's Trend

This time entered long at 1601.35 SL 15 pips, TP 1616.00 Will see the movement, possible to close earlier

Gold Mining - Using Each Trading Day's Trend

I've read it, great intro. "A Good enough Trading System has losses, but the Winnings cover the losses and over time makes the trader profitable". Profit should always be greater than loss. I tend to have risk:reward 1:2. That way I can afford ...

Gold Mining - Using Each Trading Day's Trend

I agree, the only way to know if you were right is to let your plan to be fulfilled.

Gold Mining - Using Each Trading Day's Trend

Didn't go long, need to see price action from 1600-1604. If price holds again 1600 it could go up. Not sure yet.

Gold Mining - Using Each Trading Day's Trend

Run while you can. No trading for me for now, 1600 is there, bull could jump in front of me. Stay alive!

Gold Mining - Using Each Trading Day's Trend

I expect one more push up to 1604.70 maybe little higher and I will enter short there with TP 1600, and small SL 15 pips. I hope my expectations will come true, but never know.

Gold Mining - Using Each Trading Day's Trend

Stay alive. Be prepared for anything.

Gold Mining - Using Each Trading Day's Trend

Yes it went up to 1604.70, now we will see is 1600 going to become support. For up I am aiming 1616.07 on week level, but as you mentioned 1619.23 is day resistance, easily price could go there.

Gold Mining - Using Each Trading Day's Trend

USD - FOMC Member Mester Speaks, but not sure how big impact will be. Any thoughts?

Gold Mining - Using Each Trading Day's Trend

Thanks. Price is again on it's way to 1600. Let's see what happens next. Next resistance is at 1604.70 But I think price could go lower. Everything is possible.

Gold Mining - Using Each Trading Day's Trend

Morning Bite, price did find support at 1585.86 and it tried to break 1600.97 2 times at H4 chart. I will look a behavior of price at 1600.97. If price can't break it again, short down to 1570.76 (23.6% Week Support (WS)) which is also price's daily ...

Gold Mining - Using Each Trading Day's Trend

For me the deciding line is 1600.97 (100% Week). Above buy, below sell. For now, no trading until I see is that line going to be support or resistance.

Gold Mining - Using Each Trading Day's Trend