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Gold Mining - Using Each Trading Day's Trend

  • #61
  • Mar 4, 2020 7:32am Mar 4, 2020 7:32am
Quoting BiteFX
I am still with the pull back sell at 1645 I entered this morning. And the one of yesterday, am finding a better way to exit it.
After that, I will go long. Am watching 1616.75
Learn... Work Hard... Trade Alone
  • #62
  • Mar 4, 2020 7:35am Mar 4, 2020 7:35am
Quoting BiteFX
I like BIG KILLS...But they don't come always
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.
Always expect unexpected.
  • #63
  • Mar 4, 2020 7:39am Mar 4, 2020 7:39am
Quoting BiteFX
{quote} After that, I will go long. Am watching 1616.75
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 resistance line.
Always expect unexpected.
  • #64
  • Mar 4, 2020 7:48am Mar 4, 2020 7:48am
Quoting Skoljkica
{quote} 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 resistance line.
Ouk...Let's keep the money rolling in
Learn... Work Hard... Trade Alone
  • #65
  • Mar 4, 2020 7:57am Mar 4, 2020 7:57am
Skoljkica, are your charts from a PC or Phone?
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  • #66
  • Mar 4, 2020 8:00am Mar 4, 2020 8:00am
Quoting BiteFX
Skoljkica, are your charts from a PC or Phone?
From PC
Always expect unexpected.
  • #67
  • Mar 4, 2020 8:03am Mar 4, 2020 8:03am
Price is again above 1640.50. It did find support at 1639.06 (61.8%DS). Still looking prices behavior. No trading before this 1640.50 is confirmed as a support or resistance. 1641.42 is for some reason hard to break.
Attached Image
Always expect unexpected.
  • #68
  • Mar 4, 2020 8:35am Mar 4, 2020 8:35am
Why we need to careful going long now is because, these areas were the very areas bears sent bulls down from. And now, they are back there again.
One needs to be really careful going long right about now.
Learn... Work Hard... Trade Alone
  • #69
  • Mar 4, 2020 8:44am Mar 4, 2020 8:44am
Quoting BiteFX
Why we need to careful going long now is because, these areas were the very areas bears sent bulls down from. And now, they are back there again. One needs to be really careful going long right about now.
But, my scalper friend, Skoljkica is doing great.
Well done bro.
Learn... Work Hard... Trade Alone
  • #70
  • Mar 4, 2020 9:18am Mar 4, 2020 9:18am
Quoting BiteFX
{quote} But, my scalper friend, Skoljkica is doing great. Well done bro.
Thanks bro.

It takes time and courage to start scalping. Sometimes I am still struggling am I going to close the trade or not. So I have decided, every time I think about closing it, I will do that. Sometimes is right, sometimes not, but still I am calm and happy with trading. The worst thing is when positive trading turns into negative because I didn't close it the first time I thought that is the right thing to do.

And I don't like to leave trading open while I am not in front of the screen.

The price is again at 1640.50. Be careful, stay alive.
Always expect unexpected.
  • #71
  • Edited 9:41am Mar 4, 2020 9:28am | Edited 9:41am
Price went below 1639.06 (61.8% DS)
I expect it go down to 1636.06 (50% DS) and confirm 1639.06 or even 1640.50 as a resistance if going down.
Before that no trading, especially shorting, for me.
Attached Image
Always expect unexpected.
  • #72
  • Mar 4, 2020 9:41am Mar 4, 2020 9:41am
Quoting Skoljkica
{quote} Thanks bro. It takes time and courage to start scalping. Sometimes I am still struggling am I going to close the trade or not. So I have decided, every time I think about closing it, I will do that. Sometimes is right, sometimes not, but still I am calm and happy with trading. The worst thing is when positive trading turns into negative because I didn't close it the first time I thought that is the right thing to do. And I don't like to leave trading open while I am not in front of the screen. The price is again at 1640.50. Be careful, stay...
Yeah...
I closed the sell of today sluggishly some moment ago for 70pips.
Waiting for the one of yesterday to cancel out Monday's profit and then, I will close it.
Learn... Work Hard... Trade Alone
  • #73
  • Mar 4, 2020 9:49am Mar 4, 2020 9:49am
Quoting BiteFX
{quote} Yeah... I closed the sell of today sluggishly some moment ago for 70pips. Waiting for the one of yesterday to cancel out Monday's profit and then, I will close it.
Nice, 70 pips.
Just be careful, it is possible that price will go more up again if it breaks 1641.42 and finds support there. Otherwise, we go down.
Watch the price action.
Always expect unexpected.
  • #74
  • Mar 4, 2020 10:03am Mar 4, 2020 10:03am
I am done for today. London closed. Will look for new opportunities tomorrow.
Always expect unexpected.
  • #75
  • Mar 4, 2020 10:24am Mar 4, 2020 10:24am
Quoting Skoljkica
I am done for today. London closed. Will look for new opportunities tomorrow.
Alright bro... We Stay Alive!
Learn... Work Hard... Trade Alone
  • #76
  • Edited 11:42pm Mar 4, 2020 6:38pm | Edited 11:42pm
March 05, 2020.
Like I said Yesterday, bears won the day, even though the market created a high that was higher than the previous trading day.
Price found Support at 1634.23. And Resistance did a good job too.

Today,
*chart showing a bullish pennant formation.
*Bearish Trend lines are crossed downwards.
*Bears will have a little pull back. And then, Bulls will continue.
Trade Idea: Looking to Buy Support/ Breakout

I placed a Buy stop order at Pivot-1640.40 in case of an early breakout to the upside, I won't be left out of the party.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200305_011611_136.jpg Size: 160 KB
Learn... Work Hard... Trade Alone
  • #77
  • Mar 5, 2020 2:16am Mar 5, 2020 2:16am
Morning Bite, hope you're well.

Looking at charts it looks like nothing has changed since yesterday. Price is again around 1640.50 and again above it buy, below sell.

But also price found resistance at 1642.83 (100% Month Resistance) and above is also 1643.76 (50% Quarter Resistance).
Maybe there's a chance price will fall down to 1632.57 (23.6% DS) or 1626.67 (100% DS) before going up.
Still not sure in the direction, but I am ready for scalping in both directions.

Here is H1 chart with all lines
Attached Image
Always expect unexpected.
  • #78
  • Mar 5, 2020 2:36am Mar 5, 2020 2:36am
Quoting Skoljkica
Morning Bite, hope you're well. Looking at charts it looks like nothing has changed since yesterday. Price is again around 1640.50 and again above it buy, below sell. But also price found resistance at 1642.83 (100% Month Resistance) and above is also 1643.76 (50% Quarter Resistance). Maybe there's a chance price will fall down to 1632.57 (23.6% DS) or 1626.67 (100% DS) before going up. Still not sure in the direction, but I am ready for scalping in both directions. Here is H1 chart with all lines {image}
Morning bro,
Yeah, it got me thinking too. But, I am like Price will do a little bearish pull back and then Boom "the spike" Bulls again
I am also sharpening a system I can use for scalping too.
Learn... Work Hard... Trade Alone
  • #79
  • Mar 5, 2020 2:41am Mar 5, 2020 2:41am
Quoting BiteFX
{quote} Morning bro, Yeah, it got me thinking too. But, I am like Price will do a little bearish pull back and then Boom "the spike" Bulls again I am also sharpening a system I can use for scalping too.
Talking about a system for scalping...I do a lot of crazy experiments but this one I didn't throw away among them all.
Have you heard of 1000 or 4000 Moving Averages and Bollinger Bands? I use them.
Learn... Work Hard... Trade Alone
  • #80
  • Mar 5, 2020 2:42am Mar 5, 2020 2:42am
Quoting BiteFX
{quote} Morning bro, Yeah, it got me thinking too. But, I am like Price will do a little bearish pull back and then Boom "the spike" Bulls again I am also sharpening a system I can use for scalping too.
Agree with you. Still I have difficulties figuring out how big pull back Gold does.
So this 1632.57 (23.6% DS) seems ok to me, but also price can go up without reaching that price.
If 1632.57 is reached I will probably scalp to 1640.50. Will see the price action.

But then again, 1632.57 is so far away.
Always expect unexpected.
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