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4 + 1 (Metals) strategy

  • #2,541
  • Dec 4, 2019 9:14am Dec 4, 2019 9:14am
Fundamentals are Funnymentals.
US ISM NON-MANUFACTRUNG PMI came in at 53.blah blah blah. But, price keeps going down.
Your chart tells you everything.
In all, practice good money management still.
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Learn... Work Hard... Trade Alone
  • #2,542
  • Dec 5, 2019 1:58am Dec 5, 2019 1:58am
It seems all the Pips Hunters are slept away with Bears...
MObi Sir,,,,waiting for your Charismatic Levels!!!!!!!
  • #2,543
  • Dec 5, 2019 2:00pm Dec 5, 2019 2:00pm
Quoting BiteFX
1478.10 a SUPPORT level in July 2011 is now acting as a RESISTANCE...... Bulls may be trapped.
Certainly feels that way this week.
If in doubt, paddle out!
  • #2,544
  • Dec 6, 2019 12:28am Dec 6, 2019 12:28am
After the ADP short fall and with such a high forecast for NFP, coming in below forecast surely can't affect the market too drastically,
or can it??
  • #2,545
  • Dec 6, 2019 1:30am Dec 6, 2019 1:30am
Quoting TudorIoan
{quote} 1475 resistance hit ! But it has become atypical somehow... because US indexes in red, also USD weakness against euro... So we could see a little bull break, but not too much of it ..I guess ...however, 1485 possible ! {image}
Well, it wasn't quite 1485... It looks like the Trump bull ended.
Let's see the NFP impact today. If jobs & wages strong we could see Gold way below 1475
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Member
  • #2,546
  • Dec 6, 2019 3:02am Dec 6, 2019 3:02am
06/12/19


Following range bound trading over the past 48 hours( 1472 - 1480/1) Price is still trading in a sideways pattern and as such any intra day positions will require patience to wait for specific levels to enter and then also look to trail and or lock in profits as and when the market avails it.

D1 still has a bearish bias with prices being capped just below previous key support at 1485 and as such any short setups with stops slightly above the 85 handle may be worth a crack.


The H4 is still sitting in bullish bias but the close back below the 1475 handle exposes it to a turn lower while the H1 has been flat of late and is turning bearish.... All in all, we can look to take advantage of the range by selling the rallies and buying the dips....for a safe approach, it may be safer to see what london does and follow them leading into the NY Session


Intra day Levels of Interest
Upside
1487.40
1484.82
1480.98
1479.23
1477.51
1476.38


Downside
1473.5
1471.79
1468.74
1463.86
1458
4&1 All Time Profit: $37,496
  • #2,547
  • Dec 6, 2019 3:15am Dec 6, 2019 3:15am
Quoting MzansiObi
06/12/19 Following range bound trading over the past 48 hours( 1472 - 1480/1) Price is still trading in a sideways pattern and as such any intra day positions will require patience to wait for specific levels to enter and then also look to trail and or lock in profits as and when the market avails it. D1 still has a bearish bias with prices being capped just below previous key support at 1485 and as such any short setups with stops slightly above the 85 handle may be worth a crack. The H4 is still sitting in bullish bias but the close back below...
Associated charts
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: XAUUSDH1_LI.jpg Size: 721 KB
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4&1 All Time Profit: $37,496
  • #2,548
  • Dec 6, 2019 3:15am Dec 6, 2019 3:15am
Quoting MzansiObi
06/12/19 Following range bound trading over the past 48 hours( 1472 - 1480/1) Price is still trading in a sideways pattern and as such any intra day positions will require patience to wait for specific levels to enter and then also look to trail and or lock in profits as and when the market avails it. D1 still has a bearish bias with prices being capped just below previous key support at 1485 and as such any short setups with stops slightly above the 85 handle may be worth a crack. The H4 is still sitting in bullish bias but the close back below...
I am keeping short from 1476 with SL above 1485, praying NFP wouldn't ruin it
P.S. Trade with the discipline of Money Management and Risk Management.
  • #2,549
  • Dec 6, 2019 3:20am Dec 6, 2019 3:20am
Quoting LouiseZA
After the ADP short fall and with such a high forecast for NFP, coming in below forecast surely can't affect the market too drastically, or can it??
Lol, eish, i think Tudor or one of the other Fundie Guys may be best suited to answer that one bud....what is of interest to me at the moment is how we are back below the m15 200 and this is happening near the range ceiling (former key support turned resistance...1485...... lets see if it can continue below this, and look for buy dips near the lower band of the H4 or near the weekly buy zone again....


For now, am holding a short from 1474.72
Stops at entry. Will keep recycling it till we get near the lower band of that H4 Buy Zone....
4&1 All Time Profit: $37,496
  • #2,550
  • Dec 6, 2019 3:21am Dec 6, 2019 3:21am
Quoting farukh
{quote} I am keeping short from 1476 with SL above 1485, praying NFP wouldn't ruin it
Nice Farukh...just a thought, why not bank some atleast cause am sure you are already in some profit......
4&1 All Time Profit: $37,496
  • #2,551
  • Dec 6, 2019 3:39am Dec 6, 2019 3:39am
Quoting MzansiObi
{quote} Nice Farukh...just a thought, why not bank some atleast cause am sure you are already in some profit......
Yes Obi.. already banked half of it
1466 is looking buying area, if it arrives there before NFP I'll go long and move SL to secure my short
P.S. Trade with the discipline of Money Management and Risk Management.
  • #2,552
  • Edited 4:00am Dec 6, 2019 3:43am | Edited 4:00am
Quoting LouiseZA
After the ADP short fall and with such a high forecast for NFP, coming in below forecast surely can't affect the market too drastically, or can it??
I guesso! High expectations from payrolls and jobs today! That could be an important market mover.
But of course, nobody can read those numbers in the stars ...we'll see
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Member
  • #2,553
  • Dec 6, 2019 4:48am Dec 6, 2019 4:48am
Quoting MzansiObi
{quote} Lol, eish, i think Tudor or one of the other Fundie Guys may be best suited to answer that one bud....what is of interest to me at the moment is how we are back below the m15 200 and this is happening near the range ceiling (former key support turned resistance...1485...... lets see if it can continue below this, and look for buy dips near the lower band of the H4 or near the weekly buy zone again.... For now, am holding a short from 1474.72 Stops at entry. Will keep recycling it till we get near the lower band of that H4 Buy Zone....
Stops out at BE.....

Lets see if it makes a higher high than 1476 on the M15, if it does and stays abbove it, will revert back to buying dips from the m15 200 looking for range high at 1485 where id look to short again.......

Patience
4&1 All Time Profit: $37,496
  • #2,554
  • Dec 6, 2019 4:56am Dec 6, 2019 4:56am
Quoting farukh
{quote} Yes Obi.. already banked half of it 1466 is looking buying area, if it arrives there before NFP I'll go long and move SL to secure my short
Nice one mate...Good short mate.......its pulling back lower again.....
4&1 All Time Profit: $37,496
  • #2,555
  • Dec 6, 2019 7:35am Dec 6, 2019 7:35am
Wow
  • #2,556
  • Dec 6, 2019 7:49am Dec 6, 2019 7:49am
I told you guys, gold respects these levels so much.
We stay alive meeeeeeeeeen.
Learn... Work Hard... Trade Alone
  • #2,557
  • Dec 6, 2019 7:51am Dec 6, 2019 7:51am
Quoting TudorIoan
{quote} Well, it wasn't quite 1485... It looks like the Trump bull ended. Let's see the NFP impact today. If jobs & wages strong we could see Gold way below 1475 {image}

Quoting LouiseZA
Wow
Exactly. Good numbers for the USD, bad for Gold. Simple mechanical relation.
Member
  • #2,558
  • Dec 9, 2019 1:55am Dec 9, 2019 1:55am
09/12/19



Major sell off from range ceiling and as such, price back below some key levels, the m15 and H1 200 MA's and also H1 has flipped bearish and so too has the H4....
As such, will see if we can get back towards the 1455 handle that would have us back inside the weekly buy zone....


H1 Bearish and Sell Zone: 1462.06 - 1465.2
H4 Bearish and Sell Zone: 1468.31 - 1467.06
D1 Bearish and Sell Zone: 1470.94 - 1466.29



Intra day Levels
Upside
1494.23
1486.94
1478.95
1473.32
1471.50
1467.87

Downside
1458.04
1452.41
1449.50
1445.12
1431.50


Green Pips
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4&1 All Time Profit: $37,496
  • #2,559
  • Dec 9, 2019 2:02am Dec 9, 2019 2:02am
Still pro bear, but had a long, closed it, because expecting load shedding soon! ☹
  • #2,560
  • Dec 9, 2019 3:14am Dec 9, 2019 3:14am
Quoting LouiseZA
Still pro bear, but had a long, closed it, because expecting load shedding soon! ☹
Lols....dont remind me off that, im all charged up and ready for it....


Pending Short at 1467.66
SL 1475.3
TP Open.
4&1 All Time Profit: $37,496
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