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4 + 1 (Metals) strategy

  • #1,081
  • Sep 18, 2019 5:19am Sep 18, 2019 5:19am
good day everyone!
Gold is forming a bearflag on H4 imo so i'll be looking to sell during rallies. FOMC is projected to provide a 25bp cut as market expects, but with a hawkish tone which should drive gold down to my original target of 1452. if no cut then same result as the dollar will strengthen. I'd only keep wider than normal stops during FOMC due to the speculative spikes, but overall i'm doubting we will see dovish comments from powell as the US economy seems to be doing well atm.

best of luck traders!
  • #1,082
  • Sep 18, 2019 5:31am Sep 18, 2019 5:31am
Quoting chasinpips
good day everyone! Gold is forming a bearflag on H4 imo so i'll be looking to sell during rallies. FOMC is projected to provide a 25bp cut as market expects, but with a hawkish tone which should drive gold down to my original target of 1452. if no cut then same result as the dollar will strengthen. I'd only keep wider than normal stops during FOMC due to the speculative spikes, but overall i'm doubting we will see dovish comments from powell as the US economy seems to be doing well atm. best of luck traders!
Thanks bud, that target isnt far off the the weekly level, i may just close everything before hand and reevaluate once the dust settles......
4&1 All Time Profit: $37,496
  • #1,083
  • Sep 18, 2019 7:57am Sep 18, 2019 7:57am
Quoting MzansiObi
18/09/19 H1 Bullish and buy zone: 1501.12 - 1501.58 H4 bearish to neutral: Will wait for clarity. D1 bullish to Neutral. The sideways nature of things/ range that we have been trading in is showing in the Longer timeframes as there isnt much clarity on the intra day trend. Intra day levels Upside 1521.78 1514.34 1508.96 1505.31 Downside Levels 1500.51 1495.30 1491.89 1486.77 1479.03 Trade safe Got a pending short at 1505 SL 1510 TP Open.... Green pips all around.
Manually filled the short......
Took a while but lets have a crack at it...expect more sideways trading leading upto tonights announcements...
lets see

EDIT: half my normal position size
4&1 All Time Profit: $37,496
  • #1,084
  • Edited 9:00am Sep 18, 2019 8:05am | Edited 9:00am
Mixed signal, today no position yet. Waiting clear signal to enter the market

Edit: holding small Buy position (1/10 normal size) from yesterday bullish D1 trend line
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDDaily.png Size: 33 KB
  • #1,085
  • Sep 18, 2019 9:21am Sep 18, 2019 9:21am
Quoting MzansiObi
{quote} Manually filled the short...... Took a while but lets have a crack at it...expect more sideways trading leading upto tonights announcements... lets see EDIT: half my normal position size
Took 50% off with that dip. But SL remains as is....minor rally beginning to show some exhaustion....
4&1 All Time Profit: $37,496
  • #1,086
  • Sep 18, 2019 9:40am Sep 18, 2019 9:40am
Hi
Sell 1508
  • #1,087
  • Sep 18, 2019 9:53am Sep 18, 2019 9:53am
Quoting mylife
Hi Sell 1508
Good entry R1 ...lets see will it hold or breakout. Break out and closed above 1510 will lead to 1515
  • #1,088
  • Sep 18, 2019 9:53am Sep 18, 2019 9:53am
I overtraded gold and GBP these last 2 weeks and almost blew my account. But coming back Strong now. Wish me luck guys.
About gold. I think we got a bit ahead of ourselves and will see a dip at 1475 (200 days ema) or even 1450 (Top of the previous ascending triangle) before a rally to 1550+. As the US economy is going well and FED are unlikely to go full-on dovish.
This is my first post on this forum so be gentle !
  • #1,089
  • Sep 18, 2019 9:58am Sep 18, 2019 9:58am
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_????????_??????.png Size: 74 KB
  • #1,090
  • Sep 18, 2019 10:02am Sep 18, 2019 10:02am
H1 closing above H1 200 ema (now become support). Will look to Buy dip
  • #1,091
  • Sep 18, 2019 10:15am Sep 18, 2019 10:15am
Quoting Junibifon
H1 closing above H1 200 ema (now become support). Will look to Buy dip
Damn straight, that partial profit taken is going to go back to the market if 1508 breaks stops will get taken out......
4&1 All Time Profit: $37,496
  • #1,092
  • Sep 18, 2019 10:29am Sep 18, 2019 10:29am
Quoting MamounDeb
I overtraded gold and GBP these last 2 weeks and almost blew my account. But coming back Strong now. Wish me luck guys. About gold. I think we got a bit ahead of ourselves and will see a dip at 1475 (200 days ema) or even 1450 (Top of the previous ascending triangle) before a rally to 1550+. As the US economy is going well and FED are unlikely to go full-on dovish. This is my first post on this forum so be gentle !
Welcome, thanks for the input bud, hope to keep on getting more views etc, glad the account is recovering, if those are the outcomes you are looking at, have you got any entry points or bias that you will be approaching it with...

Green pips to you....
4&1 All Time Profit: $37,496
  • #1,093
  • Sep 18, 2019 10:34am Sep 18, 2019 10:34am
Quoting MzansiObi
{quote} Welcome, thanks for the input bud, hope to keep on getting more views etc, glad the account is recovering, if those are the outcomes you are looking at, have you got any entry points or bias that you will be approaching it with... Green pips to you....
Hey man thanks for the warm welcome.
Now the strategy is to buy on dips around 1505 or 1500. A downtrend will be determined by the FOMC statements.
  • #1,094
  • Sep 18, 2019 10:35am Sep 18, 2019 10:35am
Sidelines.
Stops taken out......


Will wait for FOMC to play out now.....
4&1 All Time Profit: $37,496
  • #1,095
  • Sep 18, 2019 10:45am Sep 18, 2019 10:45am
Quoting MzansiObi
18/09/19 H1 Bullish and buy zone: 1501.12 - 1501.58 H4 bearish to neutral: Will wait for clarity. D1 bullish to Neutral. The sideways nature of things/ range that we have been trading in is showing in the Longer timeframes as there isnt much clarity on the intra day trend. Intra day levels Upside 1521.78 1514.34 1508.96 1505.31 Downside Levels 1500.51 1495.30 1491.89 1486.77 1479.03 Trade safe Got a pending short at 1505 SL 1510 TP Open.... Green pips all around.
First two upside targets broken and met and the break above the m15 200 with an hourly close has opened us up to yesterdays post of the initial target.

two more levels to go with the last level coinciding with that target for the inverse HnS.

Yesterdays Buys got closed out with that fake dip below the 1500 mark during the london session.

Trade safe and lets be patient,

Yellow outlines are the identfied setup from yesterday thats played out.
The green horizontal lines mark out the remaining two upside levels
The green outlines(circled) identify a probable setup thats showing itself on the H1 and the possible shoulder level near upside level.....(I missed this when i posted the numbers this morning)......
Attached Image (click to enlarge)
Click to Enlarge Name: near formation (2).png Size: 67 KB
4&1 All Time Profit: $37,496
  • #1,096
  • Sep 18, 2019 12:41pm Sep 18, 2019 12:41pm
Quoting Junibifon
H1 closing above H1 200 ema (now become support). Will look to Buy dip
Did you get in on it?
4&1 All Time Profit: $37,496
  • #1,097
  • Sep 18, 2019 1:06pm Sep 18, 2019 1:06pm
anyone hit SL just now? lol
  • #1,098
  • Sep 18, 2019 1:10pm Sep 18, 2019 1:10pm
Quoting MamounDeb
This is my first post on this forum so be gentle !
A gentle welcome to you! Great thread. Enjoy.
If in doubt, paddle out!
  • #1,099
  • Sep 18, 2019 1:10pm Sep 18, 2019 1:10pm
Quoting anilamil
anyone hit SL just now? lol
Yes it hit my SL at 1500
  • #1,100
  • Sep 18, 2019 1:17pm Sep 18, 2019 1:17pm
Anybody planning to get back in a buy dip? 1495? 1491? Or, are we going lower?
If in doubt, paddle out!
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