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4 + 1 (Metals) strategy

  • #2,661
  • Dec 16, 2019 3:16am Dec 16, 2019 3:16am
Quoting BiteFX
{quote} Good morning traders from this part of the world. Yes MzansiObi, a very bad Head and Shoulders pattern. more so, at 1478.10...July 2011 Support turned Resistance. We expect a decent sell off from this level to about 1459.06...October 2019 Support.
Alright...London Opening Hour Sold off, as such one more short here at 1476.05 Similar SL as per previous trade setup...


Green pips to you bud
4&1 All Time Profit: $37,496
  • #2,662
  • Dec 16, 2019 3:21am Dec 16, 2019 3:21am
Quoting MzansiObi
{quote} Alright...London Opening Hour Sold off, as such one more short here at 1476.05 Similar SL as per previous trade setup... Green pips to you bud
Thanks bro...Christmas is really gonna be fun
Learn... Work Hard... Trade Alone
  • #2,663
  • Dec 16, 2019 3:47am Dec 16, 2019 3:47am
Quoting MzansiObi
{quote} Alright...London Opening Hour Sold off, as such one more short here at 1476.05 Similar SL as per previous trade setup... Green pips to you bud
SELL too
  • #2,664
  • Dec 16, 2019 4:10am Dec 16, 2019 4:10am
Quoting InfinityPip
{quote} SELL too
Because of the wider stops due to vola etc...position size becomes important.....allow yourself room to handle some Drawdown...
4&1 All Time Profit: $37,496
  • #2,665
  • Dec 16, 2019 8:05am Dec 16, 2019 8:05am
Previous H1 candle closes below 1478.10 as 1477.88...We look forward to a drop from here.
We Stay Alive in this.
Learn... Work Hard... Trade Alone
  • #2,666
  • Dec 16, 2019 8:17am Dec 16, 2019 8:17am
Quoting BiteFX
Previous H1 candle closes below 1478.10 as 1477.88...We look forward to a drop from here. We Stay Alive in this.
Having turned this support into resistance as a "role change", I believe 1478/1479 has been used as a psych level for a sell off.
This is forex, anything is possible!

Either way, we stay alive!
Learn... Work Hard... Trade Alone
  • #2,667
  • Dec 16, 2019 11:42am Dec 16, 2019 11:42am
It looks like if we going to end the day where we started this morning!
  • #2,668
  • Dec 17, 2019 12:35am Dec 17, 2019 12:35am
Right shoulder is getting formed on h4 chart.
Sell on confirmation candle around sma300 with SL @1488 tp1 @1470 tp2 @1462 tp3 open if 1462 gets broken which is neckline

Else if price closes above 1480 sma300, we may have bulls targeting 1488 first then 1495
P.S. Trade with the discipline of Money Management and Risk Management.
  • #2,669
  • Dec 17, 2019 12:45am Dec 17, 2019 12:45am
1712/19

Not much has changed, the H1 buy Zone has acted as support since the weekly open, but its important to note how the H1 Head and shoulder pattern remains valid, and the right hand shoulder has formedd another inside HnS pattern with yesterdays high at 1479.8 being used as the head.....


As such, will remain patient and look at what price action does near the zones and the intra day levels
H1 Bullish and Zone:1476.22 - 1475.7
H4 Bullish and Zone:1474.72 - 1472.37
D1 Bearish and Zone: 1472.13 - 1470.44

Intraday Level
Upside
1486.19
1483.02
1480.48
1478.55
Downside
1476.20
1474.71
1472.91
1469.74
1465.53
4&1 All Time Profit: $37,496
  • #2,670
  • Dec 17, 2019 12:48am Dec 17, 2019 12:48am
Gold is eyeing October low 1459.06...Momentum takes time to build.
Intuition comes from having mastered accurate knowledge.

Stay Alive Bears.
Learn... Work Hard... Trade Alone
  • #2,671
  • Dec 17, 2019 12:50am Dec 17, 2019 12:50am
Quoting MzansiObi
1712/19 Not much has changed, the H1 buy Zone has acted as support since the weekly open, but its important to note how the H1 Head and shoulder pattern remains valid, and the right hand shoulder has formedd another inside HnS pattern with yesterdays high at 1479.8 being used as the head..... As such, will remain patient and look at what price action does near the zones and the intra day levels H1 Bullish and Zone:1476.22 - 1475.7 H4 Bullish and Zone:1474.72 - 1472.37 D1 Bearish and Zone: 1472.13 - 1470.44 Intraday Level Upside 1486.19 1483.02 1480.48...
Very valid bro...Your inside eyes must grace you with enough green pips.

We Stay Alive!
Learn... Work Hard... Trade Alone
  • #2,672
  • Dec 17, 2019 3:12am Dec 17, 2019 3:12am
Some bearish Divergence building up on the m15.....But London Bought on and H1 Buy Zone still acting as support.....as such bears may need to exercise some patience to see if the HnS pattern plays out....
4&1 All Time Profit: $37,496
  • #2,673
  • Dec 17, 2019 4:11am Dec 17, 2019 4:11am
If you are not used to holding a trading position for at least 2-3days, I wonder if you are really trading.
Trading involves patience, and when the money starts rolling in, DO NOT RUN AWAY FROM THE MARKET!
Stay Alive.
Learn... Work Hard... Trade Alone
  • #2,674
  • Dec 17, 2019 5:17am Dec 17, 2019 5:17am
Emotional Management is how you maintain your cool even when the market is going against you but hasn't hit your stop loss.
You trust that the market will do it's thing, and you will do yours.

Trading is war...hold your lines, otherwise your broker will take them.
Stay Alive!
Learn... Work Hard... Trade Alone
  • #2,675
  • Dec 17, 2019 7:41am Dec 17, 2019 7:41am
Update...

Overhead resistance at the second upside level producing a head setup on the M5...Target price around 1474....

Imprtant to note H1 Buy zone has creeped up, as such,
Pending Buy Order at 1474.5
TP Open
SL1469


Green Pips
4&1 All Time Profit: $37,496
  • #2,676
  • Dec 17, 2019 7:59am Dec 17, 2019 7:59am
Quoting MzansiObi
Update... Overhead resistance at the second upside level producing a head setup on the M5...Target price around 1474.... Imprtant to note H1 Buy zone has creeped up, as such, Pending Buy Order at 1474.5 TP Open SL1469 Green Pips
yep, in line with Weekly Open and M15 200 EMA. nice
  • #2,677
  • Dec 17, 2019 8:05am Dec 17, 2019 8:05am
Quoting Tragruel
{quote} yep, in line with Weekly Open and M15 200 EMA. nice
The order didnt get filled though...missed it by a hairline......


Will wait and see if another setup allows me to get back in.......Would be a great opportunity to take partial profits and trail by now.....
4&1 All Time Profit: $37,496
  • #2,678
  • Dec 17, 2019 8:11am Dec 17, 2019 8:11am
Still holding my lines......until
We Stay Alive
Learn... Work Hard... Trade Alone
  • #2,679
  • Dec 17, 2019 8:12am Dec 17, 2019 8:12am
Quoting MzansiObi
{quote} The order didnt get filled though...missed it by a hairline...... Will wait and see if another setup allows me to get back in.......Would be a great opportunity to take partial profits and trail by now.....
yes, reduced position two times already, SL at BE. stopped out with profit, will re-enter. H4 looking good also for a long
  • #2,680
  • Dec 17, 2019 8:14am Dec 17, 2019 8:14am
Quoting Tragruel
{quote} yes, reduced position two times already, SL at BE. stopped out with profit, will re-enter. H4 looking good also for a long
Bang on mate!!!!

Take the pips it gives and minimise the risk...if rallies risk free good, if not simply re enter.....

Wash, rinse and repeat......
4&1 All Time Profit: $37,496
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