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Gold RIGHT NOW

  • #921
  • Oct 31, 2019 12:05am Oct 31, 2019 12:05am
Quoting EventsTrader
Gold right now, is at some pretty critical support levels. It's acting like it's going to break lower. Although, I'm still suspect until the SHFE opens. That could change the direction because there isn't any news accompanying this drop. {image}
Greetings

I always trade news release as per Forex Factory or Investing.com schedule to see up coming events but they both do not have release for events happening in South Africa.
Yesterday there was a budget speech and the market moved up aggressively and on Tuesday president Ramaphosa briefed the media and the market also moved.

Do you perhaps know where I must check if there would be any up coming events to happen in South Africa?

Thank you in advance for your assistance
  • #922
  • Oct 31, 2019 2:33am Oct 31, 2019 2:33am
Quoting Mmase12
{quote} Greetings I always trade news release as per Forex Factory or Investing.com schedule to see up coming events but they both do not have release for events happening in South Africa. Yesterday there was a budget speech and the market moved up aggressively and on Tuesday president Ramaphosa briefed the media and the market also moved. Do you perhaps know where I must check if there would be any up coming events to happen in South Africa? Thank you in advance for your assistance
The only South African events that I would think might ever have impact are CPI data and Current Account, and they really only impact precious metals.

I'm really interested in finding out about other events I might be missing. I know South Africa has had some outages recently, but I haven't seen anything that has moved markets. If I need to be educated by all means, I want to learn about it. Which events are the bigger ones?
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #923
  • Edited 7:09am Oct 31, 2019 6:45am | Edited 7:09am
Well the FOMC move was more for me a deep stop hunting till 1481 level to rocket through the 1500 roof.

I am in now with 0.1B@1507 and 10% of equity exposed (1)

Instead of an arbitrary stop loss and being wiped out by an institutional stop hunt around 230pm CET,

I have instead another 0.2BL@1505 (2) and 0.4BL@1500 (3). Take profit @ 1515 for all trades.

When all trades are activated I am @70% of capital exposure. Which is OK as I can monitor every 4h.

When trade n° 2 @ 1505 is activated, I take the n° of 1507 manually my 1% loss.

In worst case scenario - <10pm CET tonight, I close all the positions manually and take a total loss of 6% on equity (2% for 1 and 4% for n° 2 trade).

As I consider an arbitrary <50% probability of crashing to 1500 in US session, my loss is limited to 3% of equity.

The improbable n° 3 trade @ 1500 I will close manually.

Cross my fingers and see what happens.

Encl copy of 30' XAU time frame
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 79 KB
A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #924
  • Oct 31, 2019 12:12pm Oct 31, 2019 12:12pm
Closed the trading shop 6pm CET and position n° 2 from 1505 @ 1510 with 6% profit

.
Have pending 0.1BL@1505

See enclosure 1h time frame
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot4.png Size: 5 KB
Click to Enlarge Name: Screenshot5.png Size: 74 KB
A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #925
  • Nov 5, 2019 9:51am Nov 5, 2019 9:51am
Right now I was looking at this Gold technical story and happen to agree with the view. Gold Price Outlook Breaking Down - Is Bullish Momentum About to Crack?
  • #926
  • Nov 5, 2019 11:19am Nov 5, 2019 11:19am
Gold right now seems a bit over extended. It's rare for gold to move $30 in a day one way or the other. But to do it without any fundamental price drivers is strange. I don't think there's much room left to the downside. A long play with tight stops and pretty tight TP, perhaps traling stops, isn't a bad idea.
Attached Image
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #927
  • Nov 5, 2019 11:53am Nov 5, 2019 11:53am
Quoting EventsTrader
Gold right now seems a bit over extended. It's rare for gold to move $30 in a day one way or the other. But to do it without any fundamental price drivers is strange. I don't think there's much room left to the downside. A long play with tight stops and pretty tight TP, perhaps traling stops, isn't a bad idea. {image}
Well ET it's Tuesday, often very heavy volume in XAU. I took a 10 of equity position B0.1@1484 and a 0.2BL@1480.

SellLimit@1490

See enclosed 5' chart

Wait & see as usual
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 89 KB
A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #928
  • Edited 12:41pm Nov 5, 2019 12:24pm | Edited 12:41pm
Quoting EventsTrader
Gold right now seems a bit over extended. It's rare for gold to move $30 in a day one way or the other. But to do it without any fundamental price drivers is strange. I don't think there's much room left to the downside. A long play with tight stops and pretty tight TP, perhaps traling stops, isn't a bad idea. {image}
Sources (TD Securities) say that some fairly significant players were planning to liquidate 20% of their (I assume long) positions today for little other reason than price seems to be going no-where. In not-so-polite circles this is known as capitulation and massive losses. Realistically, boss came back from holidays in Monaco and says WTF have you been doing? Anyone remember Barings Bank and Nick Leeson?

Let's wait to see what COT data says in a few days, eh? It is positions as at close Tuesday.
  • #929
  • Nov 5, 2019 12:39pm Nov 5, 2019 12:39pm
gold is in my divergent support...
  • #930
  • Nov 5, 2019 1:24pm Nov 5, 2019 1:24pm
Quoting LloydOz
{quote} Sources (TD Securities) say that some fairly significant players were planning to liquidate 20% of their (I assume long) positions today for little other reason than price seems to be going no-where. In not-so-polite circles this is known as capitulation and massive losses. Realistically, boss came back from holidays in Monaco and says WTF have you been doing? Anyone remember Barings Bank and Nick Leeson? Let's wait to see what COT data says in a few days, eh? It is positions as at close Tuesday.
That sounds like as good a reason that's out there. Some pretty good insight if true. Thanks for the heads up LloydOz!
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #931
  • Nov 5, 2019 2:31pm Nov 5, 2019 2:31pm
Quoting LloydOz
{quote} Sources (TD Securities) say that some fairly significant players were planning to liquidate 20% of their (I assume long) positions today for little other reason than price seems to be going no-where. In not-so-polite circles this is known as capitulation and massive losses. Realistically, boss came back from holidays in Monaco and says WTF have you been doing? Anyone remember Barings Bank and Nick Leeson? Let's wait to see what COT data says in a few days, eh? It is positions as at close Tuesday.
Tell me where to find these mofos! In all honesty, I decided to stay on sidelines today. Having accumulated losses on 3 consecutive trading days felt I needed a regroup and take a break from GOLD RIGHT NOW. Not much to explain this drop today....so, I tend to think you may be right LloydOz!
If in doubt, paddle out!
  • #932
  • Nov 7, 2019 2:58pm Nov 7, 2019 2:58pm
Anyone wanna see how my trading is RIGHT NOW? I am in a strong BUY! All systems seems nominal, but this BELL comes up... nothing critical, life functions still in tact... But see how the HIGH-LEVERAGE trading looks like... When you go ALL-IN... MAX allowed leverage by the broker... but you are CONFIDENT... in health dose...

Inserted Video
Can you afford to take that chance?
  • #933
  • Nov 7, 2019 3:21pm Nov 7, 2019 3:21pm
Quoting auricforecas
Anyone wanna see how my trading is RIGHT NOW? I am in a strong BUY! All systems seems nominal, but this BELL comes up... nothing critical, life functions still in tact... But see how the HIGH-LEVERAGE trading looks like... When you go ALL-IN... MAX allowed leverage by the broker... but you are CONFIDENT... in health dose... https://www.youtube.com/watch?v=W5Z-d1Zx02o
UPDATE!
Will wait for a LITTLE profit, about the BREAK EVEN atm... but SYSTEM still reports... because of MAX-LEVERAGE.. MAX-IN TRADE
Inserted Video
Can you afford to take that chance?
  • #934
  • Nov 7, 2019 6:00pm Nov 7, 2019 6:00pm
Quoting auricforecas
{quote} UPDATE! Will wait for a LITTLE profit, about the BREAK EVEN atm... but SYSTEM still reports... because of MAX-LEVERAGE.. MAX-IN TRADE https://www.youtube.com/watch?v=Xlr2ZMTc52E
Went out, takes too long for this MAX leverage/size.. and not a good part of the day for this.. So PULLING OUT... Hope you enjoyed live posting of this MAX trade
Can you afford to take that chance?
  • #935
  • Nov 8, 2019 9:07am Nov 8, 2019 9:07am
Right now I see gold has rallied on Trump comments that he will not roll back all tariffs on China. Its a coin-toss for Gold currently.
  • #936
  • Nov 8, 2019 11:14am Nov 8, 2019 11:14am
Quoting swagtrading
Right now I see gold has rallied on Trump comments that he will not roll back all tariffs on China. Its a coin-toss for Gold currently.
I concur man, I do not think this consolidation week(s) is/are good for any possible future trend assessment... if we want to be more on the slight "certainty" side at least
Can you afford to take that chance?
  • #937
  • Nov 8, 2019 2:37pm Nov 8, 2019 2:37pm
Quoting auricforecas
Anyone wanna see how my trading is RIGHT NOW? I am in a strong BUY! All systems seems nominal, but this BELL comes up... nothing critical, life functions still in tact... But see how the HIGH-LEVERAGE trading looks like... When you go ALL-IN... MAX allowed leverage by the broker... but you are CONFIDENT... in health dose... https://www.youtube.com/watch?v=W5Z-d1Zx02o
Pull up! Pull up!! Nice way to end the week! Thanks for the humor auric.....
If in doubt, paddle out!
  • #938
  • Nov 8, 2019 4:09pm Nov 8, 2019 4:09pm
Quoting SurfsUp
{quote} Pull up! Pull up!! Nice way to end the week! Thanks for the humor auric.....
I do not get the sense of this video

Do you?

And in respect t maximum leverage I do that during news & high volume around 230pm CET between Tuesd & Friday on the 1min time frame.

IF a profit basis is NOT formed <5min, I close 90% of my position immediately, to have enough equity to take a new trade after the consolidation .

Feels better
A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #939
  • Nov 8, 2019 4:11pm Nov 8, 2019 4:11pm
And for me I stop being bullish when the 1450 support is broken.

The main resistance now is 1500 on my enclosed 1D time frame
A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #940
  • Nov 10, 2019 7:34am Nov 10, 2019 7:34am
Yep and here a confirmation for the ride further down?

https://www.fxempire.com/forecasts/a...t-highs-611721

After consolidation to 1500 first and then to 1450? Beyond?

Again, I can only speculate....give it a shot.............
A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
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