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4 + 1 (Metals) strategy

  • #761
  • Sep 5, 2019 1:45pm Sep 5, 2019 1:45pm
Quoting MzansiObi
{quote} Will do bud. Today has been hectic. Changing internet service providers and the transition has been a nightmare.....but we all good now.... Everything back to normal. Levels and setups to be posted as per normal Nano....

Hi Mz

I already open position on 28, 26 and 22. I am really panic that if price will go down. Should i wait or close the position. Please advise.
  • #762
  • Sep 5, 2019 3:57pm Sep 5, 2019 3:57pm
Quoting Nanotech
{quote} Hi Mz I already open position on 28, 26 and 22. I am really panic that if price will go down. Should i wait or close the position. Please advise.
First u gotta question why u went long at 28 and 26.....22 makes sense for a swing (with a tight stop when the market was tanking).

at the moment last weeks low is just about holding up.....so longs would be looking to get the WP back first at about 32.....but we are now under a lot of shit and theres a nice tail that might get filled back down to 1507 (also ws1 level). If it keeps dropping down then the low of the last swing high at around 1494 would be the next target. I would be looking for shorts personally, but gold is on a major bull run so who knows!
  • #763
  • Sep 5, 2019 5:18pm Sep 5, 2019 5:18pm
Quoting Jp1
{quote} First u gotta question why u went long at 28 and 26.....22 makes sense for a swing (with a tight stop when the market was tanking). at the moment last weeks low is just about holding up.....so longs would be looking to get the WP back first at about 32.....but we are now under a lot of shit and theres a nice tail that might get filled back down to 1507 (also ws1 level). If it keeps dropping down then the low of the last swing high at around 1494 would be the next target. I would be looking for shorts personally, but gold is on a major bull...

Hi Jp

I really did very mistake. I don`t know what to do.


Thank you for your advise.
  • #764
  • Sep 5, 2019 5:48pm Sep 5, 2019 5:48pm
Quoting Nanotech
{quote} Hi Jp I really did very mistake. I don`t know what to do. Thank you for your advise.
Hey Nano don't worry about it as you can't do anything about it now, we all make mistakes but the important thing is to learn from those mistakes and become a better trader. Good luck
From tiny pips mighty oaks grow
  • #765
  • Sep 5, 2019 5:55pm Sep 5, 2019 5:55pm
Quoting Boo15
{quote} Hey Nano don't worry about it as you can't do anything about it now, we all make mistakes but the important thing is to learn from those mistakes and become a better trader. Good luck
Hi Boo

its wise to go short at this price?
  • #766
  • Sep 5, 2019 6:08pm Sep 5, 2019 6:08pm
Quoting Nanotech
{quote} Hi Boo its wise to go short at this price?
Hi Nano

It seems like it wants to continue South but I would wait until Asia opens to see what it decide's to do
From tiny pips mighty oaks grow
  • #767
  • Sep 6, 2019 12:34am Sep 6, 2019 12:34am
Morning Traders


H1 Flipped bearish...Sell Zone: 1520.43 - 1527.68
H4 Flipped bearish...Sell Zone: 1530.17 - 1532.77
D1 Still Bullish...Buy Zone:1507.04 - 1525.49



Yesterdays Daily candle/PA bounced nicely off of the daily lower band, and that was also near the weekly numbers, So buying dips wthin the daily zone is good, but preferably nearer to the lower band of the buy zone

Price is below both h1 and m15 200 EMA.....So any rally towards them will be met with some resistance.
Due to the wide buy zone, i will be looking to split my position sizes accordingly......
H4 200 ema Sits snug around 1494.29
The fact that price closed above 1516.14 on a daily basis still shows bulls strength



Intra Day Levels
Upside

1583.13
1569.3
1553.4
1541.97
1527.34

Downside
1510.31
1507.2
1502.34
1498.12
1462.65



Trade Safe...
Last day of the week......
4&1 All Time Profit: $37,496
  • #768
  • Sep 6, 2019 1:52am Sep 6, 2019 1:52am
Quoting Boo15
{quote} Hi Nano It seems like it wants to continue South but I would wait until Asia opens to see what it decide's to do
On the golden train with a one way ticket to the south, hopefully arrive before NFP
From tiny pips mighty oaks grow
  • #769
  • Sep 6, 2019 2:04am Sep 6, 2019 2:04am
Quoting Jp1
{quote} First u gotta question why u went long at 28 and 26.....22 makes sense for a swing (with a tight stop when the market was tanking). at the moment last weeks low is just about holding up.....so longs would be looking to get the WP back first at about 32.....but we are now under a lot of shit and theres a nice tail that might get filled back down to 1507 (also ws1 level). If it keeps dropping down then the low of the last swing high at around 1494 would be the next target. I would be looking for shorts personally, but gold is on a major bull...
As expected, tail filled and ws1 hit......hope u had a stop in mate, or can manage the dd!
  • #770
  • Sep 6, 2019 3:36am Sep 6, 2019 3:36am
Quoting Jp1
{quote} As expected, tail filled and ws1 hit......hope u had a stop in mate, or can manage the dd!
Hi JP1,

Are you holding any gold trade at the moment? I am at sideline now.

It looks good to buy as per MzansiObi's technical analysis. I am thinking of scalping and stop before US job report later. What do you think?
  • #771
  • Sep 6, 2019 3:52am Sep 6, 2019 3:52am
Quoting PositiveTrad
{quote} Hi JP1, Are you holding any gold trade at the moment? I am at sideline now. It looks good to buy as per MzansiObi's technical analysis. I am thinking of scalping and stop before US job report later. What do you think?
Hi mate - personally i wouldnt be looking for longs, unless its just a scalp trade with a tight stop.
its sliced through the past three levels (x on my first chart), including W PP and and now it fighting to hold ws1. As its under w pp, weekly average, m15 200 and 12 hour average.....i would only be looking to short pullbacks to the averages. As i mentioned before, gold has been very bullish, so my short stops will be quite tight! Target on shorts would be around the X on my second diagram. To think about longs i would need to see it get back above last weeks low and hold it, then w pp etc etc
stochs is also getting down into the juicey area too!
i was short yesterday, but not in anything today yet.....by the time i got to work the first drop had already happened!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 66DFB0DE-BF96-4CBA-A53D-54E790C9B5DC.jpeg Size: 976 KB
Click to Enlarge Name: 8BF2DD2B-7C4B-4447-A2E4-977139DDF362.jpeg Size: 433 KB
  • #772
  • Sep 6, 2019 4:37am Sep 6, 2019 4:37am
Quoting Jp1
{quote} Hi mate - personally i wouldnt be looking for longs, unless its just a scalp trade with a tight stop. its sliced through the past three levels (x on my first chart), including W PP and and now it fighting to hold ws1. As its under w pp, weekly average, m15 200 and 12 hour average.....i would only be looking to short pullbacks to the averages. As i mentioned before, gold has been very bullish, so my short stops will be quite tight! Target on shorts would be around the X on my second diagram. To think about longs i would need to see...
Agred JP.

Any buying should be handled with care from support levels.... A breach and close below D1 lower band on the buy zone will produce further selling..... To be safe selling rallies towards that zone is ideal....
4&1 All Time Profit: $37,496
  • #773
  • Sep 6, 2019 4:47am Sep 6, 2019 4:47am
Quoting Boo15
{quote} On the golden train with a one way ticket to the south, hopefully arrive before NFP
A little hitch at 09 but back on track now, will close b4 NFP if target not hit, green pips all
From tiny pips mighty oaks grow
  • #774
  • Sep 6, 2019 5:00am Sep 6, 2019 5:00am
Quoting Boo15
{quote} A little hitch at 09 but back on track now, will close b4 NFP if target not hit, green pips all
You had a great week!!!
Well done
4&1 All Time Profit: $37,496
  • #775
  • Sep 6, 2019 5:03am Sep 6, 2019 5:03am
Quoting MzansiObi
{quote} You had a great week!!! Well done
Thanks mate, have a good weekend
From tiny pips mighty oaks grow
  • #776
  • Sep 6, 2019 5:05am Sep 6, 2019 5:05am
Who else joined the bears yesterday???
  • #777
  • Sep 6, 2019 5:24am Sep 6, 2019 5:24am
What do you think guys this will break on the support or it will bounce back?
Attached Image (click to enlarge)
Click to Enlarge Name: terminal_2019-09-06_18-23-27.png Size: 88 KB
  • #778
  • Sep 6, 2019 8:18am Sep 6, 2019 8:18am
MzansiObi, I see we are hitting a little resistance at 200MA on M15 as you suggested (1524ish). When do you pull trigger on short position? 1 red candle? Or, just set a limit order somewhere close?
If in doubt, paddle out!
  • #779
  • Sep 6, 2019 8:48am Sep 6, 2019 8:48am
Quoting SurfsUp
MzansiObi, I see we are hitting a little resistance at 200MA on M15 as you suggested (1524ish). When do you pull trigger on short position? 1 red candle? Or, just set a limit order somewhere close?
Well, I decided to hold off. Wait and see. Watching 1527 and 200MA on H1.
If in doubt, paddle out!
  • #780
  • Sep 6, 2019 10:16am Sep 6, 2019 10:16am
Quoting SurfsUp
{quote} Well, I decided to hold off. Wait and see. Watching 1527 and 200MA on H1.
Very well,.. 1527, it pullback..
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