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4 + 1 (Metals) strategy

  • #1,601
  • Oct 2, 2019 12:50pm Oct 2, 2019 12:50pm
Quoting MzansiObi
Update: H1 Bullish...... H4 Sell Zone becomes invalidated if we get above the next upside weekly level at 1506.36. Mentioned to another user how that handle coincides with a key fib level.(61%) as such if we close above it on an h4 basis, H4 zone becomes invalidated... Will also be watching the daily close as the Daily averages were busy with the cross over of the two EMA's confirming our bearish D1. Tread carefully.... Levels wise, We have just above covered most of our intra day levels to the upside, so the weekly numbers come into play should...
feel ya, got shorts underwater since 1497, still can't believe how easily it broke through all these levels... even more can't believe I was 2$ short of my TP 1000$+ yesterday. bad day
  • #1,602
  • Oct 2, 2019 1:02pm Oct 2, 2019 1:02pm
Quoting chasinpips
{quote} feel ya, got shorts underwater since 1497, still can't believe how easily it broke through all these levels... even more can't believe I was 2$ short of my TP 1000$+ yesterday. bad day
It happens mate, shrug it off, learn from it, next time you will be wiser to cash out, $2 away from your TP is actually considered your TP hit, approach your levels with some flexibility.....ie 1505 and 1494.5 are more or less the same....its a zone/area thing,
But it chipped away at them one at a go mate, hence why i am looking for the daily close to give perspective....
4&1 All Time Profit: $37,496
  • #1,603
  • Oct 2, 2019 1:14pm Oct 2, 2019 1:14pm
Quoting MzansiObi
{quote} $2 away from your TP is actually considered your TP hit.
Gold ! sometimes I'm watching the price just consolidating very close to my TP, waiting for this extra burst to hit TP.. but I should think what I'm waiting for, just cash out man, move is done, job done....
  • #1,604
  • Oct 2, 2019 1:15pm Oct 2, 2019 1:15pm
Quoting MzansiObi
{quote} It happens mate, shrug it off, learn from it, next time you will be wiser to cash out, $2 away from your TP is actually considered your TP hit, approach your levels with some flexibility.....ie 1505 and 1494.5 are more or less the same....its a zone/area thing, But it chipped away at them one at a go mate, hence why i am looking for the daily close to give perspective....
Appreciate the support, it's a learning curve, especially when emotions or regret for example are experienced while trading, gotta learn how to deal with it I guess. ATM i'm spreading out TP's across a zone as you mention to avoid similar problems as sometimes I'm not able to keep an eye on charts. The profits missed out would have been a nice payday but shit happens

Lets hope that this has reached the top for now and will retrace back, best of luck with your trades!
  • #1,605
  • Oct 2, 2019 2:33pm Oct 2, 2019 2:33pm
I think we are due to close above 1500 today, so looking to buy some dips here. Just went long at 1499.24. SL 1492 TP Open
If in doubt, paddle out!
  • #1,606
  • Oct 2, 2019 2:35pm Oct 2, 2019 2:35pm
Quoting chasinpips
wow 2 months to form H&S and 1 day to break neckline....gold bears are useless. Closed my short from 1492 at BE... to think that yesterday that trade was running in over 1k profit ffs. Looking to short again around 1496 handle
Ugh! I know it's frustrating. Get back on that horse and keep ridin'. #traderslife
If in doubt, paddle out!
  • #1,607
  • Oct 2, 2019 2:59pm Oct 2, 2019 2:59pm
Quoting chasinpips
wow 2 months to form H&S and 1 day to break neckline....gold bears are useless. Closed my short from 1492 at BE... to think that yesterday that trade was running in over 1k profit ffs. Looking to short again around 1496 handle
maybe ,, just maybe ,, it may take a few of them patterns and some follow thru to fight a inverted one tht took 2 or so years to make,,followed by a breakout above a 6 year range ,,,, just saying lol,,, any rate ,, many trades back and forth ,,keep them dukes up bud
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  • #1,608
  • Oct 2, 2019 3:15pm Oct 2, 2019 3:15pm
above monthly 200 above weekly 200 above daily 200 ,,, its above some shit ,,, not exactly a bearish scenario,,, not to say there wont be shts here and there ,, but not exactly a bear mkt ,, hence shts are ninja trades lol,,,, pattern got to mid point of projection ,, new quarter opened ,,, now above quarterly open ,,, nothing to say a shoulder or even head area cant be tested several times ,,, hell this could just be another flag ,, or it could be the head and shoulder pattern the other way ,, they all dont lay pretty and text book in the real world lol,, time will tell ,,it is a bull mkt ,,, when its under some shit then shts may do much better ,, atm it is not .
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  • #1,609
  • Oct 2, 2019 6:11pm Oct 2, 2019 6:11pm
Quoting Junibifon
Sell 1485 SL 1502 Tp open
Closed - 170
  • #1,610
  • Oct 2, 2019 6:33pm Oct 2, 2019 6:33pm
Quoting Junibifon
Just a reminder, as we approaching the the D target. It's advisable to always use SL, especially for the short entry. We should see aggressive long at that levels.... {image}
Morning all
Have been planning from last week, proven quiet accurate. However in execution have taken opposite entry especially for the recent upswing. Was believing the bottom wasn't in yet. What I learned from this mistake is never try to guess the exact bottom or top of upswing and downswing. And I need to be much more discipline to what I am planning...
  • #1,611
  • Oct 2, 2019 7:32pm Oct 2, 2019 7:32pm
Quoting MzansiObi
{quote} It happens mate, shrug it off, learn from it, next time you will be wiser to cash out, $2 away from your TP is actually considered your TP hit, approach your levels with some flexibility.....ie 1505 and 1494.5 are more or less the same....its a zone/area thing, But it chipped away at them one at a go mate, hence why i am looking for the daily close to give perspective....
bud, when you are referring to daily close, is it NY close ? 5PM EAST ?
  • #1,612
  • Oct 2, 2019 9:12pm Oct 2, 2019 9:12pm
Quoting digger1
{quote} maybe ,, just maybe ,, it may take a few of them patterns and some follow thru to fight a inverted one tht took 2 or so years to make,,followed by a breakout above a 6 year range ,,,, just saying lol,,, any rate ,, many trades back and forth ,,keep them dukes up bud {image}
Agreed Digs, and thanks for the contibution and popping by.
There definately was an inverted HnS near the right shoulders(Inside Patterns) target where the target was used as a head before the reversal....

We are back above some stuff now yes and as such the bears will have their work cut out for them at the moment, Infact the daily close back above the 1485 handle also works in favour of the bulls....


Keep edging on
4&1 All Time Profit: $37,496
  • #1,613
  • Oct 2, 2019 9:13pm Oct 2, 2019 9:13pm
Quoting Tragruel
{quote} bud, when you are referring to daily close, is it NY close ? 5PM EAST ?
Yes Tag it is....
4&1 All Time Profit: $37,496
  • #1,614
  • Oct 2, 2019 9:43pm Oct 2, 2019 9:43pm
03/10/19

Morning Traders

As things stand, Prices retested the 1485 handle and managed to get a daily close back above it and also went on to challenge the 1500 psych mark....
We are back above some key levels again( m15 200, H1 and some weekly levels)
H1 has flipped bullish and H4 seems to be flipping bullish too, for now though, still have H4 short as the 1507 handle still hasnt been taken out, although a dip came about from the attempted retest, prices failed to close below the h4 200 ema.....will keep the trade going through into the London Session and see what happens.


H1 Bullish: Buy Zone: 1491 -1496
H4 Bearish to Neutral:
D1 Neutral.


As such will look to London open and see what they do, if they buy, will look to continue buying dips into the H1 zone.
If they are selling and 1507 handle remains intact will leave current short and let it play out a little.....
The H1 zones indecision in yesterdays early sessions showed the indecision but the short term has become clearer.
Buy Dip Mode, further validation and confirmation to be given by Londons Open...


Intra Day Levels

Upside
1541.3({Extension Level)
1523.18
1517.11
1511.49
1504.28

Downside
1496.55
1492.59
1480.90
1473.69
1462.00
1449.54


Trade Safe


Attached the chart with our weekly levels, showing where we are as things stand currently...

Trade safe
Attached Image (click to enlarge)
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4&1 All Time Profit: $37,496
  • #1,615
  • Oct 2, 2019 9:49pm Oct 2, 2019 9:49pm
The H1 and H4 Charts.....
Showing H1's current zone and H4 slowly flipping.....
Trade Safe
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GOLDH43octo.png Size: 39 KB
4&1 All Time Profit: $37,496
  • #1,616
  • Oct 2, 2019 10:59pm Oct 2, 2019 10:59pm
Quoting MzansiObi
{quote} Agreed Digs, and thanks for the contibution and popping by. There definately was an inverted HnS near the right shoulders(Inside Patterns) target where the target was used as a head before the reversal.... We are back above some stuff now yes and as such the bears will have their work cut out for them at the moment, Infact the daily close back above the 1485 handle also works in favour of the bulls.... Keep edging on
ah who knows with the eod of a quarter in the mix and start of last one of the year ,, as it stands ,, its only back to neck line of pattern tht sent er down ,, nothing out of ordinary really ,,hope all goes well bud
  • #1,617
  • Oct 3, 2019 12:01am Oct 3, 2019 12:01am
Quoting digger1
{quote} ah who knows with the eod of a quarter in the mix and start of last one of the year ,, as it stands ,, its only back to neck line of pattern tht sent er down ,, nothing out of ordinary really ,,hope all goes well bud
Agreed. Will keep following price and take what it gives.....a little under the weather with a summer cold......but we keep on at in no matter what mate...
Patiently waiting on London
4&1 All Time Profit: $37,496
  • #1,618
  • Oct 3, 2019 12:13am Oct 3, 2019 12:13am
Quoting MzansiObi
{quote} Agreed. Will keep following price and take what it gives.....a little under the weather with a summer cold......but we keep on at in no matter what mate... Patiently waiting on London
well the cold sucks ,,, drink more it will help lol,, get well bud
  • #1,619
  • Oct 3, 2019 12:36am Oct 3, 2019 12:36am
Quoting MzansiObi
03/10/19 Morning Traders As things stand, Prices retested the 1485 handle and managed to get a daily close back above it and also went on to challenge the 1500 psych mark.... We are back above some key levels again( m15 200, H1 and some weekly levels) H1 has flipped bullish and H4 seems to be flipping bullish too, for now though, still have H4 short as the 1507 handle still hasnt been taken out, although a dip came about from the attempted retest, prices failed to close below the h4 200 ema.....will keep the trade going through into the London Session...
Update: first downside level acting very supportive St the moment.

With about am 1.5 hours to go.....I'm thinking of taking a long scalp here as we are in the H1 buy zone at the moment. Stops just below first downside level.....

Cause it's a scalp not expecting too much from it....trade safe......
4&1 All Time Profit: $37,496
  • #1,620
  • Oct 3, 2019 12:55am Oct 3, 2019 12:55am
Quoting MzansiObi
{quote} Update: first downside level acting very supportive St the moment. With about am 1.5 hours to go.....I'm thinking of taking a long scalp here as we are in the H1 buy zone at the moment. Stops just below first downside level..... Cause it's a scalp not expecting too much from it....trade safe......
Completely agree!
took a long scalp as well, counting on a bounce for the London Open. we are above a lot of support and this resistance only needs some trading volume from the bulls to make a crack. Aiming at 1504 then 1507.
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