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4 + 1 (Metals) strategy

  • #2,841
  • Jan 6, 2020 8:31am Jan 6, 2020 8:31am
Update:
H1 Buy Zone has drifted high enough for price to trade within it....upper band just tagged. Thinking there may be a bit of sideways action leading towards the daily close with most of the volatility and volume having played out shortly after the market open....

* Its safer to be long. Position size becomes key.....


As such
Long 1573.84
Stop Loss: 1565
Tp: Open
4&1 All Time Profit: $37,496
  • #2,842
  • Jan 6, 2020 9:46am Jan 6, 2020 9:46am
First downside breakout after making double top, must be filling the gap to start bulls again
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200106-204408.png Size: 105 KB
P.S. Trade with the discipline of Money Management and Risk Management.
  • #2,843
  • Jan 6, 2020 9:51am Jan 6, 2020 9:51am
Quoting farukh
First downside breakout after making double top, must be filling the gap to start bulls again {image}
true, the 65 stop was a little too tight, there is still some supportive handles to the bottom....
that m15 200 handle plus.....the 1557/6 handle that was key resistance of late...

Will look to enter long again near the m15 200 handle.....


Greeneries
4&1 All Time Profit: $37,496
  • #2,844
  • Jan 6, 2020 11:06am Jan 6, 2020 11:06am
taken a small long @1564 with sl 1559 tp 1568
P.S. Trade with the discipline of Money Management and Risk Management.
  • #2,845
  • Jan 6, 2020 12:47pm Jan 6, 2020 12:47pm
Quoting farukh
taken a small long @1564 with sl 1559 tp 1568
Confirmation of supportive H1 buy zone....
Lower band capping prices in line with bullish sentiment
Attached Image (click to enlarge)
Click to Enlarge Name: 8B5FAF03-7FF7-4EEB-90C9-FEEAED331833.jpeg Size: 495 KB
4&1 All Time Profit: $37,496
  • #2,846
  • Jan 6, 2020 1:01pm Jan 6, 2020 1:01pm
Quoting farukh
taken a small long @1564 with sl 1559 tp 1568
cashed out?
4&1 All Time Profit: $37,496
  • #2,847
  • Jan 6, 2020 1:02pm Jan 6, 2020 1:02pm
Quoting MzansiObi
{quote} Confirmation of supportive H1 buy zone.... Lower band capping prices in line with bullish sentiment {image}
yes it is very strong support as it bounced back from long trend line shown in chart. However close above 1570 (resistance now) is must to go further long.
close below this supportive trend line may bring big correction as Iran US matter is also resting, no news today.

Quoting MzansiObi
{quote} cashed out?
Yes
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH1.png Size: 38 KB
P.S. Trade with the discipline of Money Management and Risk Management.
  • #2,848
  • Jan 6, 2020 8:50pm Jan 6, 2020 8:50pm
Quoting MzansiObi
{quote} true, the 65 stop was a little too tight, there is still some supportive handles to the bottom.... that m15 200 handle plus.....the 1557/6 handle that was key resistance of late... Will look to enter long again near the m15 200 handle..... Greeneries
Bit of a bounce from the m15 handle.....Did drop/dip lower than had anticipated.....closing half and the rest at entry....one other trade in a bit of DD at the moment but will remain bullish given this retest and push higher from the m15 200.....
Attached Image (click to enlarge)
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4&1 All Time Profit: $37,496
  • #2,849
  • Jan 6, 2020 10:18pm Jan 6, 2020 10:18pm
7 January 2020


First retest of the m15 200 in a couple of sessions, now price below some levels, ie, the daily pivot, weekly open, daily open etc, but thats not to say the bullish run is over, infact there are a couple of suggestions that the gap first needed to be filled etc, and BigIvan alluded to that on some posts yesterday, now while i maintain Gaps dont need to be filled or rather arent always filled instantaneously it seems he may have been correct in that logic,

We are still above the weekly pivot and despite the sell off from the highs, our zones remain in bullish territory, but the fact that we remain below some key levels will warrant some caution on position size and entry levels,

  1. for the Bulls need to remain above the m15 200 and then get back above the daily open,
  2. for the Bears need to get below the m15 200 and close below the handle on an intra-day basis and get a close below the lower band of the H4 buy Zone

With that said our zones and intra day levels for today are as follows

H1: Bullish to Neutral:1563.77 - 1562.51.
H4: Bullish and Zone: 1555.31 - 1542.32.
D1; Bullish and Zone: 1517.41 - 1501.38.


Intra Day Levels...

Upside
1589.38
1582.42
1571.26
1568.24
1560.06

Downside
1557.77
1552.54
1541.94
1524.48



Green Pips

Attached Image(s) (click to enlarge)
Click to Enlarge Name: GOLDM15_LI.jpg Size: 734 KB
Click to Enlarge Name: XAUUSDH1_LI.jpg Size: 735 KB
Click to Enlarge Name: XAUUSDH4_LI.jpg Size: 731 KB
4&1 All Time Profit: $37,496
  • #2,850
  • Jan 7, 2020 12:17am Jan 7, 2020 12:17am
Quoting MzansiObi
{quote} Bit of a bounce from the m15 handle.....Did drop/dip lower than had anticipated.....closing half and the rest at entry....one other trade in a bit of DD at the moment but will remain bullish given this retest and push higher from the m15 200..... {image}
Closing the one trade and leaving the other running as expecting some minor pullback ahead of the london open...Will keep buying dips towards m15 200 handle...

Quoting MzansiObi
7 January 2020 First retest of the m15 200 in a couple of sessions, now price below some levels, ie, the daily pivot, weekly open, daily open etc, but thats not to say the bullish run is over, infact there are a couple of suggestions that the gap first needed to be filled etc, and BigIvan alluded to that on some posts yesterday, now while i maintain Gaps dont need to be filled or rather arent always filled instantaneously it seems he may have been correct in that logic, We are still above the weekly pivot and despite the sell off from the highs,...
Second intra day Upside target reached....
4&1 All Time Profit: $37,496
  • #2,851
  • Jan 7, 2020 1:39am Jan 7, 2020 1:39am
Quoting MzansiObi
7 January 2020 First retest of the m15 200 in a couple of sessions, now price below some levels, ie, the daily pivot, weekly open, daily open etc, but thats not to say the bullish run is over, infact there are a couple of suggestions that the gap first needed to be filled etc, and BigIvan alluded to that on some posts yesterday, now while i maintain Gaps dont need to be filled or rather arent always filled instantaneously it seems he may have been correct in that logic, We are still above the weekly pivot and despite the sell off from the highs,...
Update: add 1577.62 as an upside level.....

Still plenty of room to go, but looking for m15 to provide an inverse HnS setup before further bullishness, staying patient and watching...
4&1 All Time Profit: $37,496
  • #2,852
  • Jan 7, 2020 1:57am Jan 7, 2020 1:57am
Thanks MzansiObi!!
I am just buying dips.
Will cash in 50% at 1571.26 and let the rest run.
One can live in the shadow of an idea without grasping it.
  • #2,853
  • Jan 7, 2020 2:20am Jan 7, 2020 2:20am
Quoting Trader1971
Thanks MzansiObi!! I am just buying dips. Will cash in 50% at 1571.26 and let the rest run.
Only a pleasure T....

Where did you get in?
Something worth noting is not to watch it move into profit and back down, if there is some profit on offer, my advise is to take some off and begin trailing risk free, Farukh got decent return off the H1 buy zone yesternight before price dipped lower to our m15 zone....
London just opened and as such we will re-position ourselves again after the close of this current H1 candle...


just a thought.....
4&1 All Time Profit: $37,496
  • #2,854
  • Jan 7, 2020 2:42am Jan 7, 2020 2:42am
Quoting MzansiObi
{quote} Only a pleasure T.... Where did you get in? Something worth noting is not to watch it move into profit and back down, if there is some profit on offer, my advise is to take some off and begin trailing risk free, Farukh got decent return off the H1 buy zone yesternight before price dipped lower to our m15 zone.... London just opened and as such we will re-position ourselves again after the close of this current H1 candle... just a thought.....
I got in at 1562.56 with some pending buy orders every 200 ticks lower, just before the 200EMA on M15 timeframe.
Hard stop at 1555.00
Thanks for good advice.
One can live in the shadow of an idea without grasping it.
  • #2,855
  • Jan 7, 2020 3:06am Jan 7, 2020 3:06am
Quoting farukh
{quote} yes it is very strong support as it bounced back from long trend line shown in chart. However close above 1570 (resistance now) is must to go further long. close below this supportive trend line may bring big correction as Iran US matter is also resting, no news today. {quote} Yes {image}
london sold off and formed bearish engulf.. a little concern to bulls
expecting more correction on daily chart. last night I mentioned 1570 needs to be broken out and closed above.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #2,856
  • Jan 7, 2020 3:33am Jan 7, 2020 3:33am
07/01/19

XAUUSD

Pending Buy Order

1562
SL 1548
TP Open


Green Pips
4&1 All Time Profit: $37,496
  • #2,857
  • Jan 7, 2020 3:36am Jan 7, 2020 3:36am
Quoting farukh
{quote} london sold off and formed bearish engulf.. a little concern to bulls expecting more correction on daily chart. last night I mentioned 1570 needs to be broken out and closed above.
Agreed....

Will take a buy scalp off of the m15 200 area and look to trail as and when it moves into some profits...thinking we may see a bit of a bounce should it get tested again....
H4 Buy zone hovering just below and we got a bullish H4 close so expecting a little move for a quick scalp there about
4&1 All Time Profit: $37,496
  • #2,858
  • Jan 7, 2020 3:46am Jan 7, 2020 3:46am
Following good advice, decided to move my stop to 1563.24 and kill all pending buy orders.
One can live in the shadow of an idea without grasping it.
  • #2,859
  • Jan 7, 2020 4:02am Jan 7, 2020 4:02am
Quoting Trader1971
Following good advice, decided to move my stop to 1563.24 and kill all pending buy orders.
Wouldnt cancel the buy orders per se....just pick specific levels for them and manage the position size accordingly, been taking scraps here and there on this dips remember the H1 buy zone is still in tact although there is a neutral bias about it, buying dips remains worthwile up until the H1 buy zone flips bearish and we get those closes below the m15 200....Farukh mentioned a valid point in that there may be a corrective drop, so as such any buy dip setups we pursue we do so with caution and take profit when its available.....
4&1 All Time Profit: $37,496
  • #2,860
  • Jan 7, 2020 6:50am Jan 7, 2020 6:50am
Update:

Minor inside pattern has formed and looking at it completing its run near the m15 200, as such will look to add onto the longs as per previous limit order posts for the buy dip situation....


lets see if we can remain above the former key resistance at 1556/7 throughout the NY session


Green Pips
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDM15_LI.jpg Size: 749 KB
4&1 All Time Profit: $37,496
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