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4 + 1 (Metals) strategy

  • #3,281
  • Feb 5, 2020 12:01pm Feb 5, 2020 12:01pm
...So far, Bulls own today.
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  • #3,282
  • Feb 5, 2020 1:50pm Feb 5, 2020 1:50pm
Retest the trend line you broke, form head and shoulder, then let us rally. Anything is possible!
I am watching you closely.
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  • #3,283
  • Edited 10:25pm Feb 5, 2020 6:47pm | Edited 10:25pm
Today is a good day.
Observations:
*Resistance came lower.
*Support maintaining position as yesterday.
*Two false breakouts up, one false breakout down.
*Price finding dynamic resistance at upper trend line.
*Price finding dynamic support at lower trend line.
*Price still below both Bearish and Bullish Triangles.
*Possible chart pattern...Inverse head and shoulder
But,
*Both Trend lines forming falling wedge pattern.
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  • #3,284
  • Edited 10:26pm Feb 5, 2020 6:51pm | Edited 10:26pm
Quoting BiteFX
Today is a good day. Observations: *Resistance came lower. *Support maintaining position as yesterday. *Two false breakouts up, one false breakout down. *Price finding dynamic resistance at upper trend line. *Price finding dynamic support at lower trend line. *Price still below both Bearish and Bullish Triangles. *Possible chart pattern...Inverse head and shoulder But, *Both Trend lines forming falling wedge pattern. {image}
After thought :
1. Sell Resistance
2. Sell PIVOT
3. Sell support
4. Sell 1st Sell if price ever reaches there
5. Sell 2nd Sell if price ever reaches there
Until...1st Buy, 2nd Buy, or 3rd Buy.
Or and a big or
1. Buy resistance
2. Buy Reversal.
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  • #3,285
  • Feb 5, 2020 7:20pm Feb 5, 2020 7:20pm
Quoting BiteFX
{quote} After thought : 1. Sell Resistance 2. Sell PIVOT 3. Sell support 4. Sell 1st Sell if price ever reaches there 5. Sell 2nd Sell if price ever reaches there Until...1st Buy, 2nd Buy, or 3rd Buy. Or and a big or 1. Buy resistance 2. Buy Reversal. {image}
Trade idea for today until 22:50
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  • #3,286
  • Feb 5, 2020 7:27pm Feb 5, 2020 7:27pm
Bullish Triangle, Dynamic Resistance, Horizontal Resistance, all three sending price back.
This is gonna be fun.
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  • #3,287
  • Feb 5, 2020 7:32pm Feb 5, 2020 7:32pm
Quoting BiteFX
Bullish Triangle, Dynamic Resistance, Horizontal Resistance, all three sending price back. This is gonna be fun. {image}
But if Bulls are able to break them,...Sote!
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  • #3,288
  • Feb 5, 2020 7:33pm Feb 5, 2020 7:33pm
This is Forex, anything is possible!
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  • #3,289
  • Feb 5, 2020 10:18pm Feb 5, 2020 10:18pm
Quoting farukh
1563-68 has become key for further bears. Downside 1544-46 can play strong support for bulls. Watch out price action to response accordingly. Final acquittal decision of Trump is also scheduled today which is likely in favor of Trump.
Last day candle close is indecision. key areas to define direction is same as mentioned earlier. Trump's impeachment expected decision and good job results didn't affect the price. NFP is scheduled tomorrow so looking all these fundamentals and technical, I am not looking much movement in any particular direction till NFP at least. Price may be range bound.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #3,290
  • Feb 5, 2020 10:27pm Feb 5, 2020 10:27pm
06 February 2020

Nothing much has changed following the Dip into the D1 buy Zone, as we mentioned we expected some sideways consolidation isnide the D1 buy Zone as the market decides in which way it will go, selling the H1 sell zone while buying the D1 buy Dip from the lower band of the D1 Buy Zone proved to be profitable.

As things stand, the H1 still in Sell territory while the D1 remains bullish with the H4 Crossover having dipped low enough to provide another sell area which is inline with the m15 200 handle, as Farukh mentioned, market currently at a key area where the lower time frame sellers are challenging the Long timeframe buyers and sentiment, The only thing worth interest and noting regarding yesterdays price action is that we got a bullish daily candle inside the D1 buy Zone, as such that shows the clear challenge between the buyers and sellers ...Untill we get proper clarity as to what it wants to do, its important to take what the market gives and protect that equity as both buying and selling can yield some reward...



H1: Bearish and Zone:1555.74 -1556.97
H4: Bearish and Zone:1560.23 - 1565.40
D1: Bullish and Zone:1549.50 - 1561.89


Intra Day Levels
Upside
1570.17
1564.48
1560.96
1556.72
1555.28

Downside
1553.21
1551.03
1549.59
1546.07
1540.39
1538.99


D1 Chart
(i) bullish daily close inside the H1 buy ZOne following supportive lower band of zone.
thinking the Stochs and Rsi need to start pointing upwards before it can get going again....patience is key( )


Green Pips to you all.....
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4&1 All Time Profit: $37,496
  • #3,291
  • Feb 5, 2020 10:27pm Feb 5, 2020 10:27pm
Quoting farukh
{quote} Last day candle close is indecision. key areas to define direction is same as mentioned earlier. Trump's impeachment expected decision and good job results didn't affect the price. NFP is scheduled tomorrow so looking all these fundamentals and technical, I am not looking much movement in any particular direction till NFP at least. Price may be range bound.
Hmmm...
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  • #3,292
  • Feb 6, 2020 1:12am Feb 6, 2020 1:12am
This may be a false breakout...
But, anything is possible!
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  • #3,293
  • Feb 6, 2020 1:36am Feb 6, 2020 1:36am
Quoting BiteFX
This may be a false breakout... But, anything is possible! {image}
Reason... Bullish Triangle acting as dynamic resistance.
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  • #3,294
  • Feb 6, 2020 1:37am Feb 6, 2020 1:37am
Quoting BiteFX
{quote} Reason... Bullish Triangle acting as dynamic resistance.
Bullish Triangle... Blue
Bearish Triangle... Red
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  • #3,295
  • Feb 6, 2020 1:50am Feb 6, 2020 1:50am
Bulls continue the breakout above the down trend line.
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  • #3,296
  • Feb 6, 2020 2:08am Feb 6, 2020 2:08am
Quoting BiteFX
Bulls continue the breakout above the down trend line.
Previous bullish hour candle little rejection at breakout and Bullish Triangle.
*A possible false breakout*
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  • #3,297
  • Feb 6, 2020 2:43am Feb 6, 2020 2:43am
On a lighter note.
Got this in mail they sent to me.
And, this is so true... Check out most of the guys who made indicators, they were math gurus.
For me, Leonardo Bigollo Pissano a.k.a Fibonacci.
Do your maths well, and then trade what you see. You'll be amazed.

Lighten up!
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  • #3,298
  • Feb 6, 2020 3:22am Feb 6, 2020 3:22am
Bulls have their breakout.
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  • #3,299
  • Feb 6, 2020 3:42am Feb 6, 2020 3:42am
Quoting BiteFX
{quote} After thought : 1. Sell Resistance 2. Sell PIVOT 3. Sell support 4. Sell 1st Sell if price ever reaches there 5. Sell 2nd Sell if price ever reaches there Until...1st Buy, 2nd Buy, or 3rd Buy. Or and a big or 1. Buy resistance 2. Buy Reversal. {image}
Price heading to 1st Sell. I'll wait for you there.
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  • #3,300
  • Feb 6, 2020 3:58am Feb 6, 2020 3:58am
Gooday Fam!!! Really been a while cos ive been swinging for a while now.
so far gold has been on an uptrend and just broke out of my TL support yesterday.
Its been bullish for hours now....and im seeing it as a retest of broken TL to probably turn it to a resistance....if my pattern does play out on H4 I should conclude on going short.
TP1 - 1550 level
TP2 - 1530 level.
Proper Risk management is key and remember we trade probabilities.
Safe trading to y'all!!!
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