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4 + 1 (Metals) strategy

  • #1,721
  • Oct 7, 2019 11:22am Oct 7, 2019 11:22am
Quoting MzansiObi
{quote} The main reason for that level being added onto our weekly outlook is the possible HnS pattern on the H4 that could play out, the right hand shoulder would have to maintain its shape and PA respect the handle as support for the pattern to play out......so we will monitor that handle should price get there.... Trade Safe
Thank you for all the insights.
  • #1,722
  • Oct 7, 2019 3:49pm Oct 7, 2019 3:49pm
I know it is late in the day, but I am thinking we have some decent support here at 1492. I just entered long at 1492.8 with SL at 1488. Looking at targets at 1496 and then 1503. Using the levels shared earlier as a guide and starting point for my analysis.
If in doubt, paddle out!
  • #1,723
  • Oct 7, 2019 11:37pm Oct 7, 2019 11:37pm
08/10/19

Morning Traders,

Recap on the day that was, so the bears continue their bearish momentum following Lndon opens bearish bias, price did try and rally from the H4 buy setups and pushed towards that immediate target at 1503 we mentioned but failed to overcome it. First bearish day following a series of bullish daily closes,and although prices managed to close above the 1485 handle on a daily closing basis we will look for more clarity following the first hour of trading during the London session.

The indecision regarding sentiment for today is also visible in that the both the H4 and D1 charts show a neutral bias while the H1 has flipped bearish but with a sell zone near the psych level of 1500.

Level wise, prices have found support near our add on level that we added late into the NY session at the 1489.22 handle, we have mentioned a possible inverted HnS pattern that could be in the formation hinting at a reversal.......we still need more mitigating factors to support this bias with the first being: handle must act as support, we need to see bullish intent, London needs to buy, we need to close back above some intra day levels and weekly levels.......So far only two of these conditions have been met,(interim support and bullish intent), till all factors are met it remains a mere probability setup....

H1: Sell Zone: 1494.81 - 1498.55
H4: Neutral
D1: Neutral

Intra day levels for today are as follows

Upside
1522.08
1512.73
1507.20
1499.51
1497.60

Downside
1488.25
1482.23
1473.12
1470.84
1458.24


Trade Safe
4&1 All Time Profit: $37,496
  • #1,724
  • Oct 7, 2019 11:49pm Oct 7, 2019 11:49pm
Associated charts with H1 Sell Zone clearly defined and the H4 Zone in its neutral state.

Trade Safe
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GOLDH41008_LI (2).jpg Size: 771 KB
Click to Enlarge Name: GOLDH10810_LI.jpg Size: 770 KB
4&1 All Time Profit: $37,496
  • #1,725
  • Oct 8, 2019 2:56am Oct 8, 2019 2:56am
Quoting MzansiObi
08/10/19 Morning Traders, Recap on the day that was, so the bears continue their bearish momentum following Lndon opens bearish bias, price did try and rally from the H4 buy setups and pushed towards that immediate target at 1503 we mentioned but failed to overcome it. First bearish day following a series of bullish daily closes,and although prices managed to close above the 1485 handle on a daily closing basis we will look for more clarity following the first hour of trading during the London session. The indecision regarding sentiment for today...
Bit of an update,

London buying off of the immediate support zone, thats the next tick that supports the inverted HnS setup outlook, next we need to get some closes above the intra day levels patience needs to be exercised, any buying from here requires proper risk management...
Have updated the H4 chart that outlined the Bigger picture of the HnS pattern that played out....price action is busy forming yet another pattern, outlined with the magenta and have attached it for perspective, .....Trade Safe
Attached Image (click to enlarge)
Click to Enlarge Name: H4 Chart 081019 (2).png Size: 94 KB
4&1 All Time Profit: $37,496
  • #1,726
  • Oct 8, 2019 3:54am Oct 8, 2019 3:54am
Update, will look to add onto longs as soon as price revisits the 1498.11 handle....

Stops on first long trade already at BE from, the 1492 handle trade safe...
4&1 All Time Profit: $37,496
  • #1,727
  • Oct 8, 2019 4:52am Oct 8, 2019 4:52am
Quoting SurfsUp
I know it is late in the day, but I am thinking we have some decent support here at 1492. I just entered long at 1492.8 with SL at 1488. Looking at targets at 1496 and then 1503. Using the levels shared earlier as a guide and starting point for my analysis.
Hope youre awake, or monitoring the trade as its reached the first TP.....
4&1 All Time Profit: $37,496
  • #1,728
  • Oct 8, 2019 6:08am Oct 8, 2019 6:08am
Update: buy dip mode continued well. Following the ticks we were looking for. Some resistance now at our next upside level at 1507.....daily range not too far away at 1509....so trail the longs carefully.
So long as 1498 holds intra day we continue going long.

Not much to it...
4&1 All Time Profit: $37,496
  • #1,729
  • Oct 8, 2019 8:45am Oct 8, 2019 8:45am
Update: Shifting Key Support from 1498 to 1502......
H4 chart with weekly levels.
In terms of our zones;

H1: Neutral
H4:Neutral
D1:Neutral

So as we approach some intra day levels and get closer to that 1509 handle, will look keep trailing and locking in more profits from buy dip scenario.

Trade Safe
Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4weekly1008.png Size: 35 KB
4&1 All Time Profit: $37,496
  • #1,730
  • Oct 8, 2019 10:37am Oct 8, 2019 10:37am
There is a bit of Bearish RSI divergence on m15 and considering daily range thats been covered to the top and bottom price may stall abit, will watch what price action does at the 1502 handle then 1499.27.
4&1 All Time Profit: $37,496
  • #1,731
  • Oct 8, 2019 1:24pm Oct 8, 2019 1:24pm
Quoting MzansiObi
08/10/19 Morning Traders, Recap on the day that was, so the bears continue their bearish momentum following Lndon opens bearish bias, price did try and rally from the H4 buy setups and pushed towards that immediate target at 1503 we mentioned but failed to overcome it. First bearish day following a series of bullish daily closes,and although prices managed to close above the 1485 handle on a daily closing basis we will look for more clarity following the first hour of trading during the London session. The indecision regarding sentiment for today...
Calling it a day and watching for the daily close now......
First downside number held as support and PA challenged the first three upside levels.
The 1488 handle has also carved out the right hand shoulder for the Inverted HnS pattern and a couple of our conditions were also met, the next challenge for further bullishness lies around the 1507/09 handle....till then will look to bank and secure profits on any dip....trade safe
4&1 All Time Profit: $37,496
  • #1,732
  • Edited 2:43pm Oct 8, 2019 2:33pm | Edited 2:43pm
Quoting MzansiObi
{quote} Hope youre awake, or monitoring the trade as its reached the first TP.....
I was offline. Unfortunately stopped out at 1488. Needed a bit wider stop - otherwise would be in good shape.
If in doubt, paddle out!
  • #1,733
  • Oct 8, 2019 2:44pm Oct 8, 2019 2:44pm
Looking at the price action and trading over the last week, I am putting on a sell limit order at 1510 with SL 1514 and TP1 at 1505 and TP2 at 1499. Hopefully we stay in this range for another day. I know we've been mostly buying the dips, but those peaks seem pretty entrenched at 1509/1510. Thoughts?
If in doubt, paddle out!
  • #1,734
  • Oct 8, 2019 5:38pm Oct 8, 2019 5:38pm
Quoting SurfsUp
Looking at the price action and trading over the last week, I am putting on a sell limit order at 1510 with SL 1514 and TP1 at 1505 and TP2 at 1499. Hopefully we stay in this range for another day. I know we've been mostly buying the dips, but those peaks seem pretty entrenched at 1509/1510. Thoughts?
Definately worth a crack but with caution because if we break and close above 1510 I think we will see 1519 and 1523 back into the picture just as per the new Inverted pattern we are currently in.
Buy first things first is to watch what the first hour of trade does when London opens and NY opens.....
4&1 All Time Profit: $37,496
  • #1,735
  • Oct 8, 2019 7:47pm Oct 8, 2019 7:47pm
Quoting MzansiObi
{quote} Definately worth a crack but with caution because if we break and close above 1510 I think we will see 1519 and 1523 back into the picture just as per the new Inverted pattern we are currently in. Buy first things first is to watch what the first hour of trade does when London opens and NY opens.....
Hey bud. What do you apple the 200 ema on? High/Low/Open or Close?
  • #1,736
  • Oct 8, 2019 8:09pm Oct 8, 2019 8:09pm
Quoting InfinityPip
{quote} Hey bud. What do you apple the 200 ema on? High/Low/Open or Close?
Standard settings bud....
4&1 All Time Profit: $37,496
  • #1,737
  • Oct 8, 2019 8:58pm Oct 8, 2019 8:58pm
09/10/19
Morning Traders

As things stand Price is back above 1500 mark on a closing basis and testing the neckline area of the inside pattern thats formed on the H4 chart, the right shoulder is in place and will need a breakout above 1510 will further validate this setup and bring back the H4 bulls into the picture more clearly,
The inability to break and close above the 1510 handle resistance on an hourly basis has been the core reason as to why the zones have been rather flat and neutral(H4 and D1) keeping us below the weekly open, showing that we are currently trading in a range, and the H1 zone seems to clear up once the bias of the day gets going....with that said, buying near the range ceiling with caution and banking in some profits is preferred up until London session opens and then we look to follow their intra day directional bias....For now,

H1: Bullish and Buy: Buy Zone: 1501.1 - 503.44
H4: Neutral to bullish: Buy Zone:1499.16 - 1500.87
D1: Neutral.


Intra day Zone
Upside
1536.20
1526.88
1521.71
1514.30
1508.97


Downside
1501.10
1498.32
1495.62
1491.70
1485.97




Green Pips to you all
4&1 All Time Profit: $37,496
  • #1,738
  • Oct 8, 2019 9:50pm Oct 8, 2019 9:50pm
Quoting MzansiObi
{quote} Bit of an update, London buying off of the immediate support zone, thats the next tick that supports the inverted HnS setup outlook, next we need to get some closes above the intra day levels patience needs to be exercised, any buying from here requires proper risk management... Have updated the H4 chart that outlined the Bigger picture of the HnS pattern that played out....price action is busy forming yet another pattern, outlined with the magenta and have attached it for perspective, .....Trade Safe {image}
Just a follow up on the previous H4 chart with the right shoulder level that we traded yesterday, PA seems to have formed another inside pattern off of the H1 chart, where it is using the H4 shoulder level as a head level on the H1, so this lines up well with the H1 buy zones, with stops below the head of the H1 pattern given where price is at the moment....with that said, we still look towards the first hour of trading during the London Session

Trade Safe
Attached Image(s) (click to enlarge)
Click to Enlarge Name: H1Chart091019 (2).png Size: 67 KB
Click to Enlarge Name: H4 Chart 081019 (2).png Size: 94 KB
4&1 All Time Profit: $37,496
  • #1,739
  • Oct 9, 2019 12:33am Oct 9, 2019 12:33am
Quoting MzansiObi
{quote} Calling it a day and watching for the daily close now...... First downside number held as support and PA challenged the first three upside levels. The 1488 handle has also carved out the right hand shoulder for the Inverted HnS pattern and a couple of our conditions were also met, the next challenge for further bullishness lies around the 1507/09 handle....till then will look to bank and secure profits on any dip....trade safe
Sideline for the moment. Nothing much to expect. Shall remain my long entries till 1533 after second look at the chart.
  • #1,740
  • Oct 9, 2019 1:00am Oct 9, 2019 1:00am
Quoting goldgirl
{quote} Sideline for the moment. Nothing much to expect. Shall remain my long entries till 1533 after second look at the chart.
Won't mind seeing London buy so that we can continue buying dips...... Still long from Asia session but small lot size.....about an hour to go before we begin ..... Did you close your positions in some profit yesterday?
4&1 All Time Profit: $37,496
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