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  • #341
  • Sep 3, 2021 9:13am Sep 3, 2021 9:13am
Quoting elbert3
just left a sell order 1.822.50 if it hits and stop at 1.826.50… that is also !!??? A possible long the next could be 1840 . Let’s see . I would be 60/40 at this time my order fills 1.775area could be the target . But let’s play it out first . But stops are advised around this time
mm few pips out of that but not as i thought but lets just see , no preasure to jump
  • #342
  • Sep 3, 2021 10:17am Sep 3, 2021 10:17am
If Gold can pass Resistan on 1830, I'm really sure if Gold will reach Resistan 2 on 1850.
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  • #343
  • Sep 3, 2021 10:56am Sep 3, 2021 10:56am
Quoting fxmasterdxb
Its make or break time, this 4hr close (which will br 30 mins after NFP) will tell alot about gold direction, bullish close would mean continuation of up swing, bearish close (which i anticipate) would mean the start of correction of course this is my opinion and my interpretation of the chart, im flat for the time being as no signal is triggered per my system yet As a side note, AU/GU/EU seems to be setting for a deeper correction too
This is the 4hr candle i was referring, i should have followed my plan and long but did not, anyway, im not jumping in at this time now, we will wait for a good retrace to enter long.

This upswing should terminate around 1870
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  • #344
  • Sep 3, 2021 10:58am Sep 3, 2021 10:58am
Could we see a new high today?
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  • #345
  • Sep 3, 2021 12:53pm Sep 3, 2021 12:53pm
Target 1840
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  • #346
  • Sep 3, 2021 1:00pm Sep 3, 2021 1:00pm
Quoting fxmasterdxb
Could we see a new high today? {image}
I hope so, my tp is 1857
Say, “He Is Allah, [Who Is] One, Allah, the Eternal Refuge.
  • #347
  • Sep 3, 2021 4:54pm Sep 3, 2021 4:54pm
1778 targets
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  • #348
  • Sep 3, 2021 4:58pm Sep 3, 2021 4:58pm
Quoting fxmasterdxb
This upswing should terminate around 1870
1880-1900.
Everyone can see the chart, but only a few can actually read it.
  • #349
  • Sep 3, 2021 5:27pm Sep 3, 2021 5:27pm
Quoting forex baraka
{quote} I hope so, my tp is 1857
No new high created, i expected gold to crash the resistance around 1834
Now I have two scenarios for the coming week:

1. Minor retrace to 1821-1817 before continuation to 1860-70

2. Continuation of up swing towards 1837 then minor retrace of 10$ before continuation of up swing

Im more inclined for scenario one and have placed buy limits around the levels aforementioned

on weekly TF, what worries me that PA stalled on fib retracement 61.8 as attached, in an ideal scenario i would have hoped for a close a little higher but that does not mean anything yet as next would we could continue and close above
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  • #350
  • Sep 3, 2021 5:29pm Sep 3, 2021 5:29pm
Quoting OnlineAddict
{quote} 1880-1900.
Temporarly, nothing goes up straight without a retracement, my target for this year is above 2000!
  • #351
  • Sep 3, 2021 5:31pm Sep 3, 2021 5:31pm
Quoting elbert3
1778 targets {image}
Yes I have this number in mind, on daily and weekly we don't have any meaningful retracement i agree, but check the past few years, PA has gone up/down for 180-200$ without a real retracement

I think PA will hit 1860-1870 before any real retracement

Plus a move to 1775 now will negate the bullish move that it has been building since a while, at least it needs to break the previous resistance by 20-25$ and the retrace
  • #352
  • Sep 4, 2021 1:00am Sep 4, 2021 1:00am
Quoting fxmasterdxb
{quote} Yes I have this number in mind, on daily and weekly we don't have any meaningful retracement i agree, but check the past few years, PA has gone up/down for 180-200$ without a real retracement I think PA will hit 1860-1870 before any real retracement Plus a move to 1775 now will negate the bullish move that it has been building since a while, at least it needs to break the previous resistance by 20-25$ and the retrace
Morning I do think even lower than that . The rise of so many crypto currency looks like it’s here to stay . I have had good results in the past 2 weeks . Eth Córdoba . Are 2 I have and have seen 20% return in 2 weeks there snouts . So with that in mind I think there is going to be a migration from gold . Lol I remember years ago ABAMRO Bank in jersey advertising gold would go to 600$ at the time gold was half that and I remember laughing at it .. omg if I only took note then .. 1500 and the possibility of 1350 area . If you look back weeks ago I posted charts in Mr Scott’s thread which made me think that way .. GL Regards E
  • #353
  • Sep 4, 2021 2:36am Sep 4, 2021 2:36am
Quoting elbert3
{quote} Morning I do think even lower than that . The rise of so many crypto currency looks like it’s here to stay . I have had good results in the past 2 weeks . Eth Córdoba . Are 2 I have and have seen 20% return in 2 weeks there snouts . So with that in mind I think there is going to be a migration from gold . Lol I remember years ago ABAMRO Bank in jersey advertising gold would go to 600$ at the time gold was half that and I remember laughing at it .. omg if I only took note then .. 1500 and the possibility of 1350 area . If you look back weeks...
I respect your point of view, I think gold will always be a safe heaven, yes alot of money has flown to crypto but if there’s one thing we learnt from history since many thousand years back, it would be that gold will always have the highest value no matter what other metal/currencies/crypto currencies rise.

Ofcourse this is my personal opinion only
  • #354
  • Sep 4, 2021 4:37am Sep 4, 2021 4:37am
Quoting fxmasterdxb
{quote} I respect your point of view, I think gold will always be a safe heaven, yes alot of money has flown to crypto but if there’s one thing we learnt from history since many thousand years back, it would be that gold will always have the highest value no matter what other metal/currencies/crypto currencies rise. Ofcourse this is my personal opinion only
Gold is severely undervalued relative to fiat currencies, stocks and crypto. All it needs is a big name to endorse it and it will fly. Maybe a double in the next year or two. Especially with runaway inflation right around the corner.
Observation is the path to discovery.
  • #355
  • Sep 5, 2021 12:46am Sep 5, 2021 12:46am
Quoting fxmasterdxb
{quote} No new high created, i expected gold to crash the resistance around 1834 Now I have two scenarios for the coming week: 1. Minor retrace to 1821-1817 before continuation to 1860-70 2. Continuation of up swing towards 1837 then minor retrace of 10$ before continuation of up swing Im more inclined for scenario one and have placed buy limits around the levels aforementioned on weekly TF, what worries me that PA stalled on fib retracement 61.8 as attached, in an ideal scenario i would have hoped for a close a little higher but that does not mean...
After opening gap correction {if there is}, price could retrace to a little above 1839, then, pullback to the swap zone of 1800/1801, before the rally to 1864/1865 thereabout.

No trade idea is infallible though. PA is always key.
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...watchfully wait, indulge and the pips shall follow !
  • #356
  • Edited 11:57am Sep 5, 2021 11:34am | Edited 11:57am
I am trading gold only now and have been doing extremely well. These are my rules and things I have learned:
1. MT5 account should be Netting rather than Hedging--FXChoice offers this
2. I only trade during times of strong volume and when direction is clear up or down
3. I primarily trade the 15 and 30m charts to monitor trends/direction (using 1 and 5m for my trigger) then let the trades run as long as I can
4. Keep positions sizes low and scale in as the price action moves in my favor. I cut my ideal lot size by 1/5 and then scale in 5 orders and then go much larger when trends are strong
5. Do not use stop losses ever--I use my eyes and the mouse to exit positions.
6. Maximize pips by watching the price action continue in my favor--rarely use arbitrary take profits during strong trends. Only occasionally will use take profits but try to avoid them when volumes and trends are strong.
7. I never leave my desk while I have a position even if it takes hours (we all know how gold can play during high volumes!)

This may sound weird but by taking my ideal lot sizes and dividing them by 5, then scaling in and having my entry price averaged in as appropriate, has removed almost all of the emotional problems that I was having. When trades go against me early on, my position sizes should still be low so it doesn't hurt much. Then I can usually watch the trends and wait for reversals, then scale and average in. If I am fully in my ideal position sizes after a while and the trade goes against me, I will exit the trade and should be in profit.

Since XAUUSD often moves 100-200 pips several times per day, it is possible to get some of these if you have time to wait for them and then catch the ride.

Scaling in as the trade develops in my favor, then maximizing major position sizes and waiting hours for pips as the trend continues, is allowing me to make huge gains once or twice per day.
  • #357
  • Sep 5, 2021 9:46pm Sep 5, 2021 9:46pm
looks' like a worth it place to sale, i enter here, as this is last resistance before gold fly,
sell gold stop loss above 1833 and target 1800 for this week and maybe 1600 or below,
  • #358
  • Sep 6, 2021 3:06am Sep 6, 2021 3:06am
Those are my potential longing areas, 1817 is my main interest
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  • #359
  • Sep 6, 2021 5:10am Sep 6, 2021 5:10am
[quote=fxmasterdxb;13695078]Those are my potential longing areas, 1817 is my main interest {image}[/qu

Same analysis for me I'm waiting for 1817-1819. I would like to see price break the 1831 area too
  • #360
  • Sep 6, 2021 5:12am Sep 6, 2021 5:12am
Quoting fxmasterdxb
Those are my potential longing areas, 1817 is my main interest {image}
same thoughts. But not today.. dont like how PA flow
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