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4 + 1 (Metals) strategy

  • #901
  • Sep 12, 2019 6:56am Sep 12, 2019 6:56am
Quoting MzansiObi
Intra Day Levels Playing Out well so far..... Bit of a bounce and indecision near the Second Upside upside level at the moment..... H1 Buy Zone creeping higher....Upper band currently at 1499.76 lower band 1496.92 So buy dips above the 1500 mark will be another plus sign for bulls, the H1 buy zone edging close to weekly support handle..... H4 sellers have managed to keep prices capped near yesterdays target price for the inverted head and shoulder off of the h1 chart..... Green Pips

One more intra day upside target left....
Last level lies in at 1516.21, if that goes it opens up the weekly level at 1521.72.....
Lets see where hourly closes......
4&1 All Time Profit: $37,496
  • #902
  • Sep 12, 2019 7:16am Sep 12, 2019 7:16am
Hi gold sell 1517
  • #903
  • Sep 12, 2019 7:26am Sep 12, 2019 7:26am
Quoting mylife
Hi gold sell 1517
Lets see where the hourly closes....but im done for now.
Will have a look if it gets to that first weekly level bud. Just remember we look to use a level as a potential support area now
4&1 All Time Profit: $37,496
  • #904
  • Sep 12, 2019 7:36am Sep 12, 2019 7:36am
well ... don't tell me this is the power of inverse head and shoulder, because i already close my trade a long time ago.... and only get a little from this event.
  • #905
  • Sep 12, 2019 7:38am Sep 12, 2019 7:38am
Just thought the daily may give perspective....

Daily Buy zone eventually kicked in again after having sat on Support all week.

But would think it best to monitor price behavior around the next set of weekly levels as previously posted here.

Patience very Key
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDDailyPossible_LI.jpg Size: 904 KB
4&1 All Time Profit: $37,496
  • #906
  • Sep 12, 2019 7:42am Sep 12, 2019 7:42am
Quoting MzansiObi
Just thought the daily may give perspective.... Daily Buy zone eventually kicked in again after having sat on Support all week. But would think it best to monitor price behavior around the next set of weekly levels as previously posted here. Patience very Key {image}
amazing, u spot inverse head and shoulder in H1 yesterday, and now u spot new head and shoulder... so to make sure the bulish, gold must close daily above 1540.. yes?
  • #907
  • Sep 12, 2019 7:48am Sep 12, 2019 7:48am
Quoting anilamil
{quote} amazing, u spot inverse head and shoulder in H1 yesterday, and now u spot new head and shoulder... so to make sure the bulish, gold must close daily above 1540.. yes?
Yes an ideal situation would be for it to push to higher levels on a daily basis it needs to get a daily close above that handle (Head), but notice that there is still alot of real estate to the top side if you look at where the right shoulder is and where that head is,
So it may take some time,

If you just check some of our historic posts, you will find some levels intra day and more recently weekly that guide us along the way...

But the first indicator to verify this pattern will become whether the actually shoulder area keeps intact on a daily closing basis until then we cant verify it....
Thats why we remain patient and trade the intra day levels while we wait for the bigger picture to play out....
4&1 All Time Profit: $37,496
  • #908
  • Sep 12, 2019 9:18am Sep 12, 2019 9:18am
The Beauty of levels,
Price rejected at the daily shoulder level but as mentioned earlier, we need a daily close below it, interesting to note the first weekly levle at 1521.83 hovered there about too.... and also yielding some pips on the way down...trailed and closed half...

Watching daily close now
Patience
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.rM30 shoulder short.png Size: 41 KB
4&1 All Time Profit: $37,496
  • #909
  • Sep 12, 2019 9:53am Sep 12, 2019 9:53am
Quoting MzansiObi
The Beauty of levels, Price rejected at the daily shoulder level but as mentioned earlier, we need a daily close below it, interesting to note the first weekly levle at 1521.83 hovered there about too.... and also yielding some pips on the way down...trailed and closed half... Watching daily close now Patience {image}
Hi MzansiObi

Pardon my ignorance. May i know where is the daily shoulder level?
  • #910
  • Sep 12, 2019 10:00am Sep 12, 2019 10:00am
Quoting PositiveTrad
{quote} Hi MzansiObi Pardon my ignorance. May i know where is the daily shoulder level?
Hey Bud, no worries...its the circled area on the image on this post bro...
Just have a look at the circled area

Quoting MzansiObi
Just thought the daily may give perspective.... Daily Buy zone eventually kicked in again after having sat on Support all week. But would think it best to monitor price behavior around the next set of weekly levels as previously posted here. Patience very Key {image}
4&1 All Time Profit: $37,496
  • #911
  • Sep 12, 2019 10:04am Sep 12, 2019 10:04am
if the daily closed with tail like hammer, is it considering as shoulder? because i am not sure this time, it can be yes and it can be not.. and it depends if the neck break.
  • #912
  • Sep 12, 2019 10:10am Sep 12, 2019 10:10am
Quoting anilamil
if the daily closed with tail like hammer, is it considering as shoulder? because i am not sure this time, it can be yes and it can be not.. and it depends if the neck break.
Well yes, a break of the neckline will push towards the target level which would lie about 1420ish...... so by order of elimination, the first tick box would be the head not being violated and secondly the shoulder level holding...so you see that would take donkey years to play out..... for now we look at the intra day stuff and weekly levels.....
4&1 All Time Profit: $37,496
  • #913
  • Sep 12, 2019 10:27am Sep 12, 2019 10:27am
Hi
Attached Image (click to enlarge)
Click to Enlarge Name: 3333.png Size: 157 KB
  • #914
  • Sep 12, 2019 5:02pm Sep 12, 2019 5:02pm
Quoting peyman
Eur news how could effect on gold price?
Anything that moves bonds will move gold. The ECB will affect European bond prices, which affects global bond prices, which affects the price of gold.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #915
  • Sep 12, 2019 6:50pm Sep 12, 2019 6:50pm
Quoting Ef5
{quote} Anything that moves bonds will move gold. The ECB will affect European bond prices, which affects global bond prices, which affects the price of gold.
Nice pick up......I missed that post from Pey
4&1 All Time Profit: $37,496
  • #916
  • Sep 12, 2019 8:05pm Sep 12, 2019 8:05pm
Morning Traders

Last day of the week.
Yesterday PA around key levels was good, some weekly levels held while price stalled and dipped around intra day levels before using the weekly levels to react turn from....

As things stand
H1 is still in bullish territory but with a slight neutral bias
H4 remains in bearish territory but previous structural high was taken out as such invald/neutral
D1 still bullish as price still hasnt broken below structure support.....


Intra day levels

Upside
1552.71
1538.37
1525.83
1517.75
1503.77

Downside
1490.68
1487.38
1482.8
1468.54
1448.43


Outlook for the day, unless structural support at 1485 is taken out and price closes below it, buying D1 dips remains valid.
LO should give us more clarity in terms of our zones as they are still not entirely clear.....
Patience prevails
4&1 All Time Profit: $37,496
  • #917
  • Sep 12, 2019 8:50pm Sep 12, 2019 8:50pm
Will buy Dip near
1492.84
SL Below
1482


Half my normal lot size as i am looking to load more later on should it dip lower...
4&1 All Time Profit: $37,496
  • #918
  • Sep 12, 2019 10:22pm Sep 12, 2019 10:22pm
Quoting MzansiObi
Will buy Dip near 1492.84 SL Below 1482 Half my normal lot size as i am looking to load more later on should it dip lower...
I’m short from just under 1497. I put SL at 1501 and TP for half at 1490 and other half at 1487. MzansiObi, it seems you think it will turn sooner - around 1492 huh?
If in doubt, paddle out!
  • #919
  • Sep 13, 2019 12:20am Sep 13, 2019 12:20am
Quoting SurfsUp
{quote} I’m short from just under 1497. I put SL at 1501 and TP for half at 1490 and other half at 1487. MzansiObi, it seems you think it will turn sooner - around 1492 huh?
Yeah bud.....I'm thinking it will pop back up for a bit.....these support handles may just provide abit of a bounce.....we already got that yesterday........and they have also supported quitr well, so we keep Doig it till it no longer works......
4&1 All Time Profit: $37,496
  • #920
  • Sep 13, 2019 2:01am Sep 13, 2019 2:01am
Obi calls it again! I thought she was gon run!
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