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4 + 1 (Metals) strategy

  • #3,161
  • Jan 30, 2020 7:23pm Jan 30, 2020 7:23pm
Quoting BiteFX
{quote} It is not deep enough. But, anything is possible.
I close my sell very shortly after and made half of the loss back.
there is something very confusing as the DOW is clearly going up, gold should go down.
however gold is kind of bullish.
i agree with you and think gold should go deeper before a potentially juicy long. Maybe under the 1570
  • #3,162
  • Jan 30, 2020 8:45pm Jan 30, 2020 8:45pm
Quoting MamounDeb
{quote} I close my sell very shortly after and made half of the loss back. there is something very confusing as the DOW is clearly going up, gold should go down. however gold is kind of bullish. i agree with you and think gold should go deeper before a potentially juicy long. Maybe under the 1570
I concur...based on the higher lows and this article is an interesting read http://https://www.sprottmoney.com/B...30-012020.html
  • #3,163
  • Jan 30, 2020 8:52pm Jan 30, 2020 8:52pm
I took short @1579 but got victim of small stop loss.
1576-8 may be retested again before the continuation of bears
P.S. Trade with the discipline of Money Management and Risk Management.
  • #3,164
  • Jan 30, 2020 10:07pm Jan 30, 2020 10:07pm
Quoting farukh
I took short @1579 but got victim of small stop loss. 1576-8 may be retested again before the continuation of bears
Oh! So painful.
Yes, we will wait for it there thanks bro.
Learn... Work Hard... Trade Alone
  • #3,165
  • Jan 30, 2020 11:03pm Jan 30, 2020 11:03pm
31 January 2020


Supportive H1 buy Zone throughout the day yesterday and some decent bounce off of the m15 200 handle in line with the bullish zones from H1 through to D1.

As things stand the beatish Divergence is in play and there is still some rook to the downside towards the 1569.17 handle before any serious bullish continuation id say...
For now, the two longer time frames: H4 and D1 remain bullish while the H1 is slopping downards showing the consolidation and possibly even turning bearish in the interim, last day of the week so lets pick our levels wisely and not give back our gains, patience and levels goes a long way....with that said
H1: Neutral
H4: Bullish and Zone 1572.64 - 1575.15 ( although bullish, we need to note it doenst have a slope, and is moving sideways due to range bound nature as mentioned by MamounDeb)
D1: Bullish and Buy Zone: 1562.33 - 1546.23

Intraday levels
Upside
1591.1
1587.77
1585.91
1582.71
1580.75
1576.13

Downside
1572.34
1569.04
1568.06
1563.96
1559.25


Daily chart

  1. point (i) showing buy zone
  2. Pink line showing upward slope on daily so bullish D1 buy area good buy zone

H4 chart

  1. point (i) showing the H4 buy zone we are currently testing out and thats been supportive thus far
  2. pink line showing sideways nature of the zone although still bullish



Green Pips

Attached Image(s) (click to enlarge)
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Click to Enlarge Name: XAUUSDH4_LI.jpg Size: 588 KB
4&1 All Time Profit: $37,496
  • #3,166
  • Jan 30, 2020 11:04pm Jan 30, 2020 11:04pm
Quoting MzansiObi
31 January 2020 Supportive H1 buy Zone throughout the day yesterday and some decent bounce off of the m15 200 handle in line with the bullish zones from H1 through to D1. As things stand the beatish Divergence is in play and there is still some rook to the downside towards the 1569.17 handle before any serious bullish continuation id say... For now, the two longer time frames: H4 and D1 remain bullish while the H1 is slopping downards showing the consolidation and possibly even turning bearish in the interim, last day of the week so lets pick our...

Pending Buy order
1569.20
SL 1555
TP Open


Green pips
4&1 All Time Profit: $37,496
  • #3,167
  • Jan 31, 2020 1:24am Jan 31, 2020 1:24am
Support broken in the early hours of today and a false breakout.
Looking to Sell Resistance for a more downward move.
Anything is possible.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200131-082157.png Size: 112 KB
Learn... Work Hard... Trade Alone
  • #3,168
  • Jan 31, 2020 1:53am Jan 31, 2020 1:53am
Quoting BiteFX
Support broken in the early hours of today and a false breakout. Looking to Sell Resistance for a more downward move. Anything is possible. {image}
Short scalp here

1576.
SL 1581
TP Open,

Just inline with the H1 sell zone and them15 200 handle thats inside of it aswell...

LO in a few so trade safe...
4&1 All Time Profit: $37,496
  • #3,169
  • Jan 31, 2020 2:05am Jan 31, 2020 2:05am
Sell limit activated.
Chart looks a falling three formation.
Anything is possible.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200131-090320.png Size: 112 KB
Learn... Work Hard... Trade Alone
  • #3,170
  • Jan 31, 2020 2:08am Jan 31, 2020 2:08am
Quoting MzansiObi
{quote} Short scalp here 1576. SL 1581 TP Open, Just inline with the H1 sell zone and them15 200 handle thats inside of it aswell... LO in a few so trade safe...
Yeah... Something like that bro. I will stay alive.
Learn... Work Hard... Trade Alone
  • #3,171
  • Jan 31, 2020 5:35am Jan 31, 2020 5:35am
The H1 Pin bar reversal may deny Bulls a breakout.
And as a result market may go down.

I'm watching you closely Gold.
Attached Image (click to enlarge)
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  • #3,172
  • Jan 31, 2020 6:44am Jan 31, 2020 6:44am
Quoting BiteFX
{quote} Yeah... Something like that bro. I will stay alive.
It just didn’t work out.....just kept climbing bud....


Beginning to wind down on some positions ahead of the weekly close. Will look how we close and then look to get going again on the weekly open....


green pips
4&1 All Time Profit: $37,496
  • #3,173
  • Jan 31, 2020 8:04am Jan 31, 2020 8:04am
Gold Will break ascending channel to upside. Hopefully
  • #3,174
  • Jan 31, 2020 8:05am Jan 31, 2020 8:05am
Quoting MzansiObi
{quote} It just didn’t work out.....just kept climbing bud.... Beginning to wind down on some positions ahead of the weekly close. Will look how we close and then look to get going again on the weekly open.... green pips
Yes, I am finding some way of escape too.
Let me hope a little... 22:55 is my time.
Learn... Work Hard... Trade Alone
  • #3,175
  • Jan 31, 2020 8:08am Jan 31, 2020 8:08am
Quoting b_hand
Gold Will break ascending channel to upside. Hopefully
Hmmm? Ouk. No wahala.
Learn... Work Hard... Trade Alone
  • #3,176
  • Jan 31, 2020 8:57am Jan 31, 2020 8:57am
Well, If I close my short now I would lose the profits of the last 2 weeks :s.
We trade and we learn, I don't know if I should hold and take a break next week with TP @ BE.
  • #3,177
  • Jan 31, 2020 9:02am Jan 31, 2020 9:02am
Quoting MzansiObi
{quote} It just didn’t work out.....just kept climbing bud.... Beginning to wind down on some positions ahead of the weekly close. Will look how we close and then look to get going again on the weekly open.... green pips
Hi Mzansi, hope you've had a good week.
I think there is an inverse h & s on H1.... what do you think? should we be taking this into consideration?
on the extension from the shoulders to the head we could be looking at a target of approximately 1608? what are you thoughts on this?
  • #3,178
  • Jan 31, 2020 9:11am Jan 31, 2020 9:11am
Bulls had the breakout...
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  • #3,179
  • Jan 31, 2020 10:07am Jan 31, 2020 10:07am
1st Sell reached.
And then a possible reversal.
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  • #3,180
  • Jan 31, 2020 11:02am Jan 31, 2020 11:02am
I must admit it... I am yet to learn patience with this my newly developed trading system. Anyways it's just 2 weeks old today.

See now, 1st Sell is on the loose... WOW!
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