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4 + 1 (Metals) strategy

  • #1,921
  • Oct 15, 2019 10:11pm Oct 15, 2019 10:11pm
16/10/19


Morning Traders
As things stand, the range trading we had been in leading up to Yesterdays NY open session has been broken Our Identified target at 1497 was reached but price failed to break and close above that level on an hourly closing basis. The m15 Head and Shoulders pattern that ensued, had a price target at the 1488 handle which was reached and bearish momentum pushed prices even lower, giving prices a daily close below the 1485 handle, This daily close below becomes significant in that ur key time frames and zones are all in bearish mode and the daily close created a bearish engulfing.
In light of these, we are below the weekly open, the weekly pivots and the H1 & H4 Zones are both bearish and calling for further bearish momentum.

Outlook for the day will be to sell rallies and also look for this validation in the London and NY open.


H1: 1483.63 - 1486.08
H4: 1487.51 - 1491.56


Intra day Levels
Upside
1503.47
1498.50
1494.29
1490.34
1488.25
1485.66

Downside
1477.31
1472.85
1464.21
1462.07
1451.27


Green Pips
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Click to Enlarge Name: GOLDH4WedMorning_LI.jpg Size: 785 KB
4&1 All Time Profit: $37,496
  • #1,922
  • Oct 16, 2019 1:04am Oct 16, 2019 1:04am
Quoting Spirit4eva
Gooday fam!!! been trading currencies for a while, buh i've not really seen a symphony though........wanna come back to my first love i.e trading gold only....missed you guys like fire........and by the ways, how many of y'all enjoyed the fall......been selling since friday, was in drawdown till today when it finally hit my TP. since last week ive not using the stop loss order dunno how risky this is......kinda tired wt SL being hit and price finally goes your direction
Lol my sentiments exactly, sound position sizing is key but more importantly the Equity Balance to support such a decision I always consider the worst possible scenario. Id never recommend it to anybody tho see my trades with no SL one I left open over night!!!
Attached Image (click to enlarge)
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The more you learn, the more you see
  • #1,923
  • Oct 16, 2019 1:17am Oct 16, 2019 1:17am
Quoting Marcusv007
{quote} Lol my sentiments exactly, sound position sizing is key but more importantly the Equity Balance to support such a decision I always consider the worst possible scenario. Id never recommend it to anybody tho see my trades with no SL one I left open over night!!! {image}
10 lots on gold without a stop - wowsers, thats some serious size.....u got balls of steel (and a massive bank!)
  • #1,924
  • Oct 16, 2019 1:24am Oct 16, 2019 1:24am
Quoting Jp1
{quote} 10 lots on gold without a stop - wowsers, thats some serious size.....u got balls of steel (and a massive bank!)
Lol, Go Big or Go Home...JOKES.....

Big bank takes little bank.....
4&1 All Time Profit: $37,496
  • #1,925
  • Oct 16, 2019 1:26am Oct 16, 2019 1:26am
Quoting MzansiObi
16/10/19 Morning Traders As things stand, the range trading we had been in leading up to Yesterdays NY open session has been broken Our Identified target at 1497 was reached but price failed to break and close above that level on an hourly closing basis. The m15 Head and Shoulders pattern that ensued, had a price target at the 1488 handle which was reached and bearish momentum pushed prices even lower, giving prices a daily close below the 1485 handle, This daily close below becomes significant in that ur key time frames and zones are all in bearish...
H1 Sell Zone producing first sell setup...
Will Scale out at 1477(First downside Target) and wait on LO to give guidance....
Trade Safe
4&1 All Time Profit: $37,496
  • #1,926
  • Oct 16, 2019 2:13am Oct 16, 2019 2:13am
XAUUSD
Sell Limit
1487.39

TP:OPen
SL 1498
Lets See
4&1 All Time Profit: $37,496
  • #1,927
  • Oct 16, 2019 4:55am Oct 16, 2019 4:55am
Its a bit rough around the edges, but i see a inverted H&S on the 5 min.
Worth a stab with a tight stop.
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  • #1,928
  • Edited 6:02am Oct 16, 2019 5:48am | Edited 6:02am
Quoting MzansiObi
{quote} Just keep this in mind too mate, I think the falling wedge pattern also presents a bullish breakout opportunity.....But at the moment price would have to claw its way back above the 1485 handdle on an Hourly closing basis and then back abvve our intra day levels..... Right now, H1 is a sell and Daily closed below 1485, so further bearishness towards weekly downside levels is on the cards {image}
Alright mahn! thanks for the clarification........patiently watching from H4 though
  • #1,929
  • Oct 16, 2019 6:00am Oct 16, 2019 6:00am
Quoting Moof
Its a bit rough around the edges, but i see a inverted H&S on the 5 min. Worth a stab with a tight stop.{image}
Nice Moof, these patterns begin to emerge from the lower timeframes and work their way up, more sear a support base of sorts, But for now
H1 Sellers still holding onto their territory, m15 200 EMA still intact so we remain patient
4&1 All Time Profit: $37,496
  • #1,930
  • Oct 16, 2019 6:19am Oct 16, 2019 6:19am
this is my outlook for now............waiting for a drop below............lets see
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  • #1,931
  • Oct 16, 2019 6:36am Oct 16, 2019 6:36am
Quoting Spirit4eva
this is my outlook for now............waiting for a drop below............lets see {image}
Im with you on the net bearish Sentiment bud, as mentioned to moof earlier regarding the possible reversal pattern that is playing out on the lower time frames, for that to hold, the head of that pattern would need to remain intact, ie no break and close below 1478.


Im still only interested in selling the H1 rallies from the sell zones....

Just some thought from a bullish point of view, 1485 has been a key level on an intra day basis, we closed below that on the daily close and H1 sellers have been defending that level all day.....


So lets trade with caution
4&1 All Time Profit: $37,496
  • #1,932
  • Oct 16, 2019 6:45am Oct 16, 2019 6:45am
based on this recent bearish move.........price kinda created another pattern...............
lets see
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  • #1,933
  • Oct 16, 2019 7:00am Oct 16, 2019 7:00am
Hello everyone,
I'm happy to find this place with a lot of useful informations and trading ideas. I will keep reading for now and maybe later write my own views and ideas.
  • #1,934
  • Oct 16, 2019 7:04am Oct 16, 2019 7:04am
if this descending channel holds then we might be looking lower lets see...........
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  • #1,935
  • Oct 16, 2019 7:16am Oct 16, 2019 7:16am
Quoting MzansiObi
XAUUSD Sell Limit 1487.39 TP:OPen SL 1498 Lets See
I gather you're still on the sidelines. Looks like a pretty high entry point given current behavior. I think that reversal pattern is at risk and brexit dealings may pull these prices lower. will watch for a decent rally to join the short party.....
If in doubt, paddle out!
  • #1,936
  • Oct 16, 2019 7:21am Oct 16, 2019 7:21am
My stand on gold for now
Attached Image (click to enlarge)
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  • #1,937
  • Oct 16, 2019 7:26am Oct 16, 2019 7:26am
Quoting MzansiObi
{quote} Im with you on the net bearish Sentiment bud, as mentioned to moof earlier regarding the possible reversal pattern that is playing out on the lower time frames, for that to hold, the head of that pattern would need to remain intact, ie no break and close below 1478.
Looks like that break is happening now. And, we have a retail sales release coming in 4 minutes. Perhaps time to wait and see where this drop settles.
If in doubt, paddle out!
  • #1,938
  • Oct 16, 2019 7:30am Oct 16, 2019 7:30am
Quoting SurfsUp
{quote} I gather you're still on the sidelines. Looks like a pretty high entry point given current behavior. I think that reversal pattern is at risk and brexit dealings may pull these prices lower. will watch for a decent rally to join the short party.....
Yeah Bud, The pending short didnt get filled
4&1 All Time Profit: $37,496
  • #1,939
  • Oct 16, 2019 7:35am Oct 16, 2019 7:35am
Quoting MzansiObi
16/10/19 Morning Traders As things stand, the range trading we had been in leading up to Yesterdays NY open session has been broken Our Identified target at 1497 was reached but price failed to break and close above that level on an hourly closing basis. The m15 Head and Shoulders pattern that ensued, had a price target at the 1488 handle which was reached and bearish momentum pushed prices even lower, giving prices a daily close below the 1485 handle, This daily close below becomes significant in that ur key time frames and zones are all in bearish...
Update: PA still trading within the range as per our first upside and downside levels,



Selling rallies off of H1 sell zone remains ideal up until the h1 sell zone becomes invalidated.....
4&1 All Time Profit: $37,496
  • #1,940
  • Oct 16, 2019 7:37am Oct 16, 2019 7:37am
Quoting Spirit4eva
My stand on gold for now {image}
mehn! CPI and Retail sales is kinda crazy........fundamental's noise should cool off please...........
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