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4 + 1 (Metals) strategy

  • #3,141
  • Jan 30, 2020 5:35am Jan 30, 2020 5:35am
Range mode activated... Chops off impatient plus inexperienced scalpers account(I've been there well before).
So, the battle is right in-between Breakout and Resistance.
Inability to breakout, we thrust downwards to support...
Either way, the pips comes in.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200130-122836.png Size: 87 KB
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  • #3,142
  • Jan 30, 2020 5:41am Jan 30, 2020 5:41am
Quoting MzansiObi
{quote} True....but we have had two tags of the upper band of the H1 buy zone today....and they have both resulted in upward trajectory of price. unless the H1 is forming a Head and shoulders pattern then it’s only a matter of time before it breaks higher just my 2cents worth
You know bro, I was even expecting a meaningful pull back so that, both short and long will deliver some nice pips today.
Forex is a funny war.
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  • #3,143
  • Jan 30, 2020 6:41am Jan 30, 2020 6:41am
Quoting BiteFX
{quote} You know bro, I was even expecting a meaningful pull back so that, both short and long will deliver some nice pips today. Forex is a funny war.
Seems like there is some bearish divergence on the horizon looking at the RSI and stochs, one should just wait for it to playout now......
4&1 All Time Profit: $37,496
  • #3,144
  • Jan 30, 2020 7:07am Jan 30, 2020 7:07am
H1 symmetric triangle formed at Resistance area.
Where are we going XAUUSD?
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Click to Enlarge Name: Screenshot_20200130-140522.png Size: 78 KB
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  • #3,145
  • Jan 30, 2020 7:33am Jan 30, 2020 7:33am
Quoting MzansiObi
{quote} Seems like there is some bearish divergence on the horizon looking at the RSI and stochs, one should just wait for it to playout now......
There is that drop lower....
Buy limit 1475.46
sl 1560
TP Open.
4&1 All Time Profit: $37,496
  • #3,146
  • Jan 30, 2020 8:06am Jan 30, 2020 8:06am
Quoting BiteFX
H1 symmetric triangle formed at Resistance area. Where are we going XAUUSD? {image}
H1 symmetric triangle broken downward at resistance... Alright, we go down.
This is Forex, anything is possible.
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  • #3,147
  • Jan 30, 2020 8:45am Jan 30, 2020 8:45am
Quoting MzansiObi
{quote} There is that drop lower.... Buy limit 1475.46 sl 1560 TP Open.
50 closed rest at BE
4&1 All Time Profit: $37,496
  • #3,148
  • Jan 30, 2020 8:45am Jan 30, 2020 8:45am
In case you missed the first sell, this is another opportunity.
Thank you XAUUSD.

We Stay Alive...
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  • #3,149
  • Jan 30, 2020 9:02am Jan 30, 2020 9:02am
H1 Hanging Man variation at resistance.
Down alive.
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  • #3,150
  • Jan 30, 2020 9:42am Jan 30, 2020 9:42am
Quoting BiteFX
H1 Hanging Man variation at resistance. Down alive. {image}
Oh! Bulls broke out.
What a day!
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  • #3,151
  • Jan 30, 2020 10:34am Jan 30, 2020 10:34am
Quoting BiteFX
{quote} Oh! Bulls broke out. What a day! {image}
But remember the bearish divergence, we musnt ignore it, infact i wouldnt be surprised to see another dip to retest those lows again...
4&1 All Time Profit: $37,496
  • #3,152
  • Jan 30, 2020 11:13am Jan 30, 2020 11:13am
Quoting MzansiObi
{quote} But remember the bearish divergence, we musnt ignore it, infact i wouldnt be surprised to see another dip to retest those lows again...
We are still in the 1576 to 1585 range. The recent dip shows that both bears and bulls are fighting.
however the bullish nature of bigger TF should push gold to the 1600 or remain at the level. It shouldn’t be too risky to buy dips.
  • #3,153
  • Jan 30, 2020 1:50pm Jan 30, 2020 1:50pm
Clearly it was a false breakout. Since neither PIVOT nor SUPPORT was not used as a bounce off.
What a day!
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  • #3,154
  • Jan 30, 2020 2:45pm Jan 30, 2020 2:45pm
Should we buy this?
My Idea is that it is safe to wait it out.

(I'm a bit crazy so I bought, Might be a very bad trade @ 1579)
  • #3,155
  • Jan 30, 2020 2:54pm Jan 30, 2020 2:54pm
Quoting MamounDeb
Should we buy this? My Idea is that it is safe to wait it out. (I'm a bit crazy so I bought, Might be a very bad trade @ 1579)
I bought with you Mamoun....

I bought 1577.44.

not a bad idea to buy given the bullish momentum we have had off late...but will trail aggressively as the bearish Divergence still in play
4&1 All Time Profit: $37,496
  • #3,156
  • Jan 30, 2020 2:58pm Jan 30, 2020 2:58pm
Quoting MzansiObi
{quote} I bought with you Mamoun.... I bought 1577.44. not a bad idea to buy given the bullish momentum we have had off late...but will trail aggressively as the bearish Divergence still in play
Yep, Good idea but very bad entry from my part. Should have waited just a few minutes for a perfect entry.
The bullish technical pressure IN ADDITION TO the Coronavirus making the Dollar week should push gold higher.
  • #3,157
  • Jan 30, 2020 5:36pm Jan 30, 2020 5:36pm
For Today... Until 22:55
Yesterday's rejection found Support today.
Yesterday's Resistance is same as today's. Implication Sellers are on the loose as resistance is stronger.
There will be a breakout since levels are closer.
Trade idea:
1. Buy support to Take Profit at 1st Sell.
2. Sell Resistance to Take Profit at 1st Buy.
3. Buy 1st Buy
4. Sell 1st Sell
Let's make some money.

We Stay Alive...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Screenshot_20200131-001412.png Size: 104 KB
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  • #3,158
  • Edited 5:58pm Jan 30, 2020 5:44pm | Edited 5:58pm
Quoting BiteFX
For Today... Until 22:55 Yesterday's rejection found Support today. Yesterday's Resistance is same as today's. Implication Sellers are on the loose as resistance is stronger. There will be a breakout since levels are closer. Trade idea: 1. Buy support to Take Profit at 1st Sell. 2. Sell Resistance to Take Profit at 1st Buy. 3. Buy 1st Buy 4. Sell 1st Sell Let's make some money. We Stay Alive... {image} {image}
After thought: for Reversal Addicts
Sell 1st Sell with stop loss at 2nd Sell. Repeat until 3rd sell which is stronger on those levels.
Buy 1st Buy with stop loss at 2nd Buy. Repeat until 3rd Buy which is stronger on those levels.

The stop losses here are not tight. If you may worry.
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  • #3,159
  • Jan 30, 2020 5:48pm Jan 30, 2020 5:48pm
Quoting MamounDeb
Should we buy this? My Idea is that it is safe to wait it out. (I'm a bit crazy so I bought, Might be a very bad trade @ 1579)
Bro, if you saw something, then you should have followed what you saw. This is very important.
But, this is Forex, anything is possible.
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  • #3,160
  • Jan 30, 2020 5:54pm Jan 30, 2020 5:54pm
Quoting MzansiObi
{quote} I bought with you Mamoun.... I bought 1577.44. not a bad idea to buy given the bullish momentum we have had off late...but will trail aggressively as the bearish Divergence still in play
It is not deep enough. But, anything is possible.
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