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4 + 1 (Metals) strategy

  • #2,721
  • Dec 19, 2019 11:43pm Dec 19, 2019 11:43pm
Quoting MzansiObi
20/12/19 Yesterdays neutral D1 Buy zone produced a bounce higher in price....coincided well with the H4 Buy Zone of which has been the only zone that has held its shape throughout a range bound week. The daily close still capped inside the range but the H1 zone has turned bullish again with price currently using the handle as support. Bearish RSI divergence on the H1 still present but the 1477.18 handle will become the first hurdle point for shorts and to the upside bulls will target the previous weekly high at 1486.74 as first target point.. With...
lol,, somebody has got to make em sweat a little ,, the projection was hit ,, follow thru no show as of yet ,, it really isint a bear mkt by any means ,, and not really screaming sell me lol, probably perking some interest tho around in here , happy holidays to ya bud and a green new year
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  • #2,722
  • Dec 19, 2019 11:59pm Dec 19, 2019 11:59pm
who holds ,, who folds ,, lol,, same ole same ole ,,
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  • #2,723
  • Dec 20, 2019 12:01am Dec 20, 2019 12:01am
Quoting digger1
{quote} lol,, somebody has got to make em sweat a little ,, the projection was hit ,, follow thru no show as of yet ,, it really isint a bear mkt by any means ,, and not really screaming sell me lol, probably perking some interest tho around in here , happy holidays to ya bud and a green new year {image}{image}
Most definately Diggs, the pullback to the weekly buy zone was marked a while back as a potential springboard for further bullishness... we may remain stifled inside of it for a fair bit and get some more range trading before it really gets going, till then will try follow the money with these intra day setups ....
Its been a while

Green pips and plenty of eggnog for you...
4&1 All Time Profit: $37,496
  • #2,724
  • Dec 20, 2019 12:46am Dec 20, 2019 12:46am
The beauty of trading is that two traders looking at the same chart will see two different things.
But, the trouble is; who stays alive and who dies in the long run.

We're on a journey, so we Stay Alive.
Sell limit 1481 activated.
Learn... Work Hard... Trade Alone
  • #2,725
  • Dec 20, 2019 12:52am Dec 20, 2019 12:52am
Quoting BiteFX
The beauty of trading is that two traders looking at the same chart will see two different things. But, the trouble is; who stays alive and who dies in the long run. We're on a journey, so we Stay Alive. Sell limit 1481 activated.
Agreed.To add onto your statement....The time frames we trade off of also guide the overall outlook
4&1 All Time Profit: $37,496
  • #2,726
  • Dec 20, 2019 12:55am Dec 20, 2019 12:55am
Quoting MzansiObi
{quote} Agreed.To add onto your statement....The time frames we trade off of also guide the overall outlook
hey Obi, did you see bearish divergence on h4?
P.S. Trade with the discipline of Money Management and Risk Management.
  • #2,727
  • Dec 20, 2019 1:08am Dec 20, 2019 1:08am
Quoting MzansiObi
{quote} Agreed.To add onto your statement....The time frames we trade off of also guide the overall outlook
Exactly bro.

For instance, I draw Support/Resistance on the monthly chart. Plot FIBO there too, then trade them off the H4 chart.
Interesting!
Learn... Work Hard... Trade Alone
  • #2,728
  • Dec 20, 2019 2:47am Dec 20, 2019 2:47am
Quoting BiteFX
The beauty of trading is that two traders looking at the same chart will see two different things. But, the trouble is; who stays alive and who dies in the long run. We're on a journey, so we Stay Alive. Sell limit 1481 activated.
Damn I chickened out early...
Sold at 1481.50, but close early at 1478.3
  • #2,729
  • Dec 20, 2019 2:53am Dec 20, 2019 2:53am
Quoting InfinityPip
{quote} Damn I chickened out early... Sold at 1481.50, but close early at 1478.3
Lol try and think of it this way, you made money too...we can see that the 1477.18 handle as mentioned in the daily review is posing a bit of a challenge but the guiding factor will be the hourly close....


just something to think about:" you got a good sell area off of the current weekl resistance handle, you saw it all week and last week infact, what prompted you to get out of that trade early?" were you uncomfortable with the position size? was it a blind sell entry? did you not plan for that level?
these will assist in letting your plan play out when you next open the trade....
4&1 All Time Profit: $37,496
  • #2,730
  • Dec 20, 2019 2:57am Dec 20, 2019 2:57am
Quoting farukh
{quote} hey Obi, did you see bearish divergence on h4?
Hey Bud yeah, you actually drew my attention to it earlier this week when you mentioned it and i begun monitoring it since then, the H1 HnS structure is still intact but the Bullish H1 Zone and H4 Zones may try and challenge it, so will try and follow the money and identify possible levels where the bearish divergence is most likely to play out....InfinityPip pointed out/went in on one of the levels thats been key resistance and i know Bitefx has also been picking the levels off of some fib extension levels off the higher time frame...lets see how those factor in with this mornings daily review numbers....

How you doing Bud?
4&1 All Time Profit: $37,496
  • #2,731
  • Dec 20, 2019 3:01am Dec 20, 2019 3:01am
Quoting MzansiObi
{quote} Lol try and think of it this way, you made money too...we can see that the 1477.18 handle as mentioned in the daily review is posing a bit of a challenge but the guiding factor will be the hourly close.... just something to think about:" you got a good sell area off of the current weekl resistance handle, you saw it all week and last week infact, what prompted you to get out of that trade early?" were you uncomfortable with the position size? was it a blind sell entry? did you not plan for that level? these will assist in letting your plan...
Thank you masta.
Im fairly new to trading and Im having trouble to control my emotions when trading
How do you guys set your TP area?
  • #2,732
  • Dec 20, 2019 3:12am Dec 20, 2019 3:12am
Quoting MzansiObi
{quote} Hey Bud yeah, you actually drew my attention to it earlier this week when you mentioned it and i begun monitoring it since then, the H1 HnS structure is still intact but the Bullish H1 Zone and H4 Zones may try and challenge it, so will try and follow the money and identify possible levels where the bearish divergence is most likely to play out....InfinityPip pointed out/went in on one of the levels thats been key resistance and i know Bitefx has also been picking the levels off of some fib extension levels off the higher time frame...lets...
I haven't banked good money for some time due to slow market but as far as not losing money, doing good
You know as I go for a little long run, I am still keeping my short with stop loss @1488 but current price action is making me think to close it early and at the same time haven't got confirmation of up trend as yet either.
Well now I guess if current h4 shows support I may go for hedge with half size of my short to minimize my loss just in case.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #2,733
  • Dec 20, 2019 3:37am Dec 20, 2019 3:37am
Quoting farukh
{quote} I haven't banked good money for some time due to slow market but as far as not losing money, doing good You know as I go for a little long run, I am still keeping my short with stop loss @1488 but current price action is making me think to close it early and at the same time haven't got confirmation of up trend as yet either. Well now I guess if current h4 shows support I may go for hedge with half size of my short to minimize my loss just in case.
Think of this scenario thats currently materializing here near our downside level, considering the fact that we are failing to close below the handle its a little suggestive of further bullishness,
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4&1 All Time Profit: $37,496
  • #2,734
  • Dec 20, 2019 3:43am Dec 20, 2019 3:43am
Quoting InfinityPip
{quote} Thank you masta. Im fairly new to trading and Im having trouble to control my emotions when trading How do you guys set your TP area?
Lol, Just Obi, we all learn from the market and each other daily bud.....regarding those TP's i genuinely begin trailing my positions as and when in profit and look to keep following price and banking some profit along the way, we may have patterns that play out with projected targets , but thats all they are, projections as such i chose to stop olding onto positions waiting for a specific level cause often times you could move from 100 USD profit and then watch your stops get taken out for 50USD...so i take some here and there and at the end of the day it all adds up...am more concerned with getting the entries correct than i am with the profitcause if we manage to get lets say 5 decent entries in a day that all yield about 20/25USD each with as minimal risk as possible then im happy as opposed to taking one position and watching it drift in and out of DD without atleast trailing and locking some profit in...


Hope it makes sense
4&1 All Time Profit: $37,496
  • #2,735
  • Dec 20, 2019 4:54am Dec 20, 2019 4:54am
Yesterday, the Bulls managed to retest the 50% FIBO level on the monthly chart, where they were chased away from both last week and last two weeks respectively.
The psych level being 1480/1481.
We stay alive until 1462/1461 psych level...
Learn... Work Hard... Trade Alone
  • #2,736
  • Dec 20, 2019 5:01am Dec 20, 2019 5:01am
Quoting MzansiObi
{quote} Lol, Just Obi, we all learn from the market and each other daily bud.....regarding those TP's i genuinely begin trailing my positions as and when in profit and look to keep following price and banking some profit along the way, we may have patterns that play out with projected targets , but thats all they are, projections as such i chose to stop olding onto positions waiting for a specific level cause often times you could move from 100 USD profit and then watch your stops get taken out for 50USD...so i take some here and there and at the...
In addition to what MzansiObi has said, who I see as a good trader too, is that... Taking profit is a skill.
Over time your temperament will be altered by the market and you will begin to take profit as you dim fit... May be the "crumbs" or the "loafs" you will have to choose. You will become comfortable with one and you have to stick to it.

This is my utmost trading psychology: I AM NOT TRADING FOR 30 MINUTES, I AM TRADING FOR 30 YEARS.
Therefore, any trade that will sabotage that length of time without a good return, I MUST bypass.
The ultimate rule is to stay alive.
Learn... Work Hard... Trade Alone
  • #2,737
  • Dec 20, 2019 5:05am Dec 20, 2019 5:05am
Quoting MzansiObi
{quote} Lol, Just Obi, we all learn from the market and each other daily bud.....regarding those TP's i genuinely begin trailing my positions as and when in profit and look to keep following price and banking some profit along the way, we may have patterns that play out with projected targets , but thats all they are, projections as such i chose to stop olding onto positions waiting for a specific level cause often times you could move from 100 USD profit and then watch your stops get taken out for 50USD...so i take some here and there and at the...
Thanks bud for the advice
  • #2,738
  • Dec 20, 2019 5:08am Dec 20, 2019 5:08am
Quoting InfinityPip
{quote} Damn I chickened out early... Sold at 1481.50, but close early at 1478.3
My brother, HAVE MIND ALWAYS.
But, having MIND actually comes from trusting that the market will do "it's thing".
It may take 3-4-5 or even 6 days but that trade you closed might have been a sure winner.
Learn... Work Hard... Trade Alone
  • #2,739
  • Dec 20, 2019 5:33am Dec 20, 2019 5:33am
I have not seen my dear friend (gold) testing previous high. i strongly believe she is going to test the previous high before dipping lower. IMO
  • #2,740
  • Dec 20, 2019 8:13am Dec 20, 2019 8:13am
Im Staying out of gold for now, scary
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