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4 + 1 (Metals) strategy

  • #2,261
  • Nov 1, 2019 2:56am Nov 1, 2019 2:56am
Quoting Marcusv007
Sorry Mzansi deleted my comment yesterday, I figured price would reach 1512 but didn't have enough technical evidence and it felt more like a hunch ....lol shameful behavior on my part .... My Outlook: Price ranging 1510 - Obviously most likely as traders await the NFP later today, profits are locked-in . We're currently seeing some upside; I wonder if we will see further upside then the usual Friday sell-off? .....
If you haven't seen this already, its worth a read https://www.metalsmine.com/showthrea...3#post12594003 Post 53,721
The more you learn, the more you see
  • #2,262
  • Nov 1, 2019 3:02am Nov 1, 2019 3:02am
The ism PMI will be a mover for gold late afternoon.
  • #2,263
  • Nov 1, 2019 3:08am Nov 1, 2019 3:08am
Quoting LouiseZA
Long at this moment from 1509, SL at BE, TP for time being at 1513. Was also caught with shorts, but they still running in DD. With gold I have learned that the rule apply! What goes up, must come down. Just have to wait.
Hey Louise, agreed, your buy is in line with the H1 buy zone, just want to see what London first to decide on a bias for the day...
4&1 All Time Profit: $37,496
  • #2,264
  • Nov 1, 2019 3:12am Nov 1, 2019 3:12am
Quoting Marcusv007
Sorry Mzansi deleted my comment yesterday, I figured price would reach 1512 but didn't have enough technical evidence and it felt more like a hunch ....lol shameful behavior on my part .... My Outlook: Price ranging 1510 - Obviously most likely as traders await the NFP later today, profits are locked-in . We're currently seeing some upside; I wonder if we will see further upside then the usual Friday sell-off? Long : If price clears 1514,85 ---->TP1 1519,90 -----> TP2 1525,95 -----> TP3 1534,18 I'll start to short if price reaches @ 1503...
Hi Marcus,


I see you are looking to trade the breakouts if my understanding is correct,

Your targets to the topside and bottom are well within the range should it break out to either side,
Im about 70% bullish on gold at the moment just want to see how the divergence plays out and also the mood London is in in this first hour, Lol @ overdue a bad trade.....we all get those now and again....
4&1 All Time Profit: $37,496
  • #2,265
  • Nov 1, 2019 4:08am Nov 1, 2019 4:08am
Update: London opening hour is bearish and formed a pin, as such will only consider buying off of the H4 Buy zone.

Have loaded one more short

Short 1512.25
SL 1518
TP Open

Pending Buy order
1504.5
SL 1498
TP Open


Trade Safe
4&1 All Time Profit: $37,496
  • #2,266
  • Nov 1, 2019 4:10am Nov 1, 2019 4:10am
Quoting MzansiObi
Update: London opening hour is bearish and formed a pin, as such will only consider buying off of the H4 Buy zone. Have loaded one more short Short 1512.25 SL 1518 TP Open Pending Buy order 1504.5 SL 1498 TP Open Trade Safe
The bearish divergence seems to be valid not looking for much on it though, if we can get to 1505 it would be ideal....

Trade Safe
4&1 All Time Profit: $37,496
  • #2,267
  • Nov 1, 2019 5:51am Nov 1, 2019 5:51am
Quoting MzansiObi
{quote} Hi Marcus, I see you are looking to trade the breakouts if my understanding is correct, Your targets to the topside and bottom are well within the range should it break out to either side, Im about 70% bullish on gold at the moment just want to see how the divergence plays out and also the mood London is in in this first hour, Lol @ overdue a bad trade.....we all get those now and again....
Thanks to your thread here, you drumming in levels and ofcourse posts from other members I have started exploiting S&R levels with help of an indi. This one today.

Ps. Yes I prefer breakout trading, but my method relies on trend trading and the markets have not much liquidity for that few weeks I'm finding so I've had ti evolve somewhat.
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The more you learn, the more you see
  • #2,268
  • Nov 1, 2019 6:42am Nov 1, 2019 6:42am
Quoting MzansiObi
Update: London opening hour is bearish and formed a pin, as such will only consider buying off of the H4 Buy zone. Have loaded one more short Short 1512.25 SL 1518 TP Open Pending Buy order 1504.5 SL 1498 TP Open Trade Safe
Taking partial profits and moving SL to entry on the Short trade.
M15 Still hasnt bottomed out so still looking for further weakness

Marcus did mention a stagnation of price leading up to the NFP results being published...
Patiently waiting..
4&1 All Time Profit: $37,496
  • #2,269
  • Nov 1, 2019 6:44am Nov 1, 2019 6:44am
Quoting Marcusv007
{quote} Thanks to your thread here, you drumming in levels and ofcourse posts from other members I have started exploiting S&R levels with help of an indi. This one today. Ps. Yes I prefer breakout trading, but my method relies on trend trading and the markets have not much liquidity for that few weeks I'm finding so I've had ti evolve somewhat. {image}
Lols, levels dont lie bud, it will either hold or fold, and in most instances looking at the trend( be it short term or long term) they can help us spot our entry points and possible reversals or where to get out....
4&1 All Time Profit: $37,496
  • #2,270
  • Nov 1, 2019 7:25am Nov 1, 2019 7:25am
The human mind is a strange thing.

this is what we want to see

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and this is what the market is doing

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we might have the correct measurements, but we are missing the correct angle. measuring a diagonal movement with horizontal lines is not enough.

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cheers,
"the public is not yet ready for it" W.D. GANN
  • #2,271
  • Nov 1, 2019 7:27am Nov 1, 2019 7:27am
Quoting MzansiObi
{quote} Lols, levels dont lie bud, it will either hold or fold, and in most instances looking at the trend( be it short term or long term) they can help us spot our entry points and possible reversals or where to get out....
True, I;m learning that. I really have made great strides on Gold thanks to you and other members here. Team work makes the dream work...

Anyway going offline shortly, currently in the UK spending some QT with my daughter, but of course I leave after the USD event shortly.
The more you learn, the more you see
  • #2,272
  • Nov 1, 2019 7:34am Nov 1, 2019 7:34am
Update:

Managed to get the drop as per the m15 and H1 divergence on the charts.
Watching what price does now around the m15 200 EMA
4&1 All Time Profit: $37,496
  • #2,273
  • Nov 1, 2019 7:37am Nov 1, 2019 7:37am
Quoting MzansiObi
Update: London opening hour is bearish and formed a pin, as such will only consider buying off of the H4 Buy zone. Have loaded one more short Short 1512.25 SL 1518 TP Open Pending Buy order 1504.5 SL 1498 TP Open Trade Safe
Cancelling this Buy order till we see some bullish divergence back on the m15....
4&1 All Time Profit: $37,496
  • #2,274
  • Nov 1, 2019 8:17am Nov 1, 2019 8:17am
Quoting LouiseZA
Long at this moment from 1509, SL at BE, TP for time being at 1513. Was also caught with shorts, but they still running in DD. With gold I have learned that the rule apply! What goes up, must come down. Just have to wait.
Hey Louise,

Hope youre not watching it go down and come back up again..

Seems our second downside level is holding up well as support near the H4 buy zone, as such still looking for some bullish divergence to load a long here...


Trade Safe
4&1 All Time Profit: $37,496
  • #2,275
  • Nov 1, 2019 8:22am Nov 1, 2019 8:22am
Quoting MzansiObi
{quote} Hey Louise, Hope youre not watching it go down and come back up again.. Seems our second downside level is holding up well as support near the H4 buy zone, as such still looking for some bullish divergence to load a long here... Trade Safe

Hi Obi

what will be our target to load long? i also cancelled long on 1505 on expectation that it was going below 1505 but it pull back again.

Nano
  • #2,276
  • Nov 1, 2019 8:24am Nov 1, 2019 8:24am
Quoting Nanotech
{quote} Hi Obi what will be our target to load long? i also cancelled long on 1505 on expectation that it was going below 1505 but it pull back again. Nano
Hey Nano,

If we do get the Bullish Momentum and M15 divergence will look for the previous daily high to be broken and then the next upside level for today...


Trade Safe
4&1 All Time Profit: $37,496
  • #2,277
  • Edited 8:49am Nov 1, 2019 8:39am | Edited 8:49am
Quoting MzansiObi
{quote} Hey Louise, Hope youre not watching it go down and come back up again.. Seems our second downside level is holding up well as support near the H4 buy zone, as such still looking for some bullish divergence to load a long here... Trade Safe
Was short, with a buy order at 1503. Closed shorts and like you cancelled the long order to soon!
But it's Fryday, , better than get stuck with a long for the weekend.
Don't mind shorts, no swap fees. 4H RSI and Stoch still bearish and 15M looks if it's running out of steam!

Looks if 4H is going to close with bullish pin
  • #2,278
  • Nov 1, 2019 9:16am Nov 1, 2019 9:16am
Quoting goldgirl
{quote} Just noticed there are already 3 black candle on M15. Pullback to 1504 may be in place
Already closed all my counter short at 1504 and go major long at 1504. SL lift up to 1498. Tp1 1523, Tp2 1535
  • #2,279
  • Nov 1, 2019 9:20am Nov 1, 2019 9:20am
Weekend for me now! Trade safe!
  • #2,280
  • Nov 1, 2019 1:24pm Nov 1, 2019 1:24pm
Quoting LouiseZA
Weekend for me now! Trade safe!
I may just join you, low volume.....looking to call it a week
4&1 All Time Profit: $37,496
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