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Gold Mining - Using Each Trading Day's Trend

  • #161
  • Mar 6, 2020 8:08am Mar 6, 2020 8:08am
Quoting Skoljkica
{quote} 1672.52 (61.8% QS) is acting as a support. Possible down to 1664.94 Stay alive.
1672.52 acted as a support. Will wait to see how price reacts at 1680.04 (100% WS). Maybe it finds it as a support, otherwise resistance and sell down to 1664.94.
Attached Image
Always expect unexpected.
  • #162
  • Mar 6, 2020 8:09am Mar 6, 2020 8:09am
Quoting finnyjosh
{quote} I am With you @Bitefx Don't see enough Fuel for gold to break above 1690.
Thanks man.
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  • #163
  • Mar 6, 2020 8:10am Mar 6, 2020 8:10am
Quoting Skoljkica
{quote} 1672.52 acted as a support. Will wait to see how price reacts at 1680.04 (100% WS). Maybe it finds it as a support, otherwise resistance and sell down to 1664.94. {image}
Ouk bro.
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  • #164
  • Mar 6, 2020 8:11am Mar 6, 2020 8:11am
Quoting finnyjosh
{quote} Am looking at 1656, but for that to happen 1671.20 has to be broken.
Yeah...around my Pivot for today.
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  • #165
  • Mar 6, 2020 8:30am Mar 6, 2020 8:30am
As much as trading is serious business...One has to catch fun and the thrill of trading all together...
Let's have a great weekend folks. And be ready for next week.

We Stay Alive.
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  • #166
  • Mar 6, 2020 8:31am Mar 6, 2020 8:31am
Quoting BiteFX
As much as trading is serious business...One has to catch fun and the thrill of trading all together... Let's have a great weekend folks. And be ready for next week. We Stay Alive.
Agree with you. What's the point if there's no fun in whatever you do.
Always expect unexpected.
  • #167
  • Mar 6, 2020 9:32am Mar 6, 2020 9:32am
I just opened my chart, did you see that move?
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  • #168
  • Mar 6, 2020 9:32am Mar 6, 2020 9:32am
Gold had huge fall.
Nice for you who shorted. I stayed aside today.
Attached Image

But all in all great week.
Enjoy your weekend.
Always expect unexpected.
  • #169
  • Mar 6, 2020 9:36am Mar 6, 2020 9:36am
Quoting Skoljkica
Gold had huge fall. Nice for you who shorted. I stayed aside today. {image} But all in all great week. Enjoy your weekend.
Thanks Skoljkica... I know Technicals don't lie except the "big boys" wants to cheat.
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  • #170
  • Mar 6, 2020 9:39am Mar 6, 2020 9:39am
We are going straight to Support bro.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200306_163831_322.jpg Size: 86 KB
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  • #171
  • Mar 6, 2020 9:41am Mar 6, 2020 9:41am
Quoting BiteFX
We are going straight to Support bro. {image}
Yooo!!!
Cheers Mate.
  • #172
  • Mar 6, 2020 9:44am Mar 6, 2020 9:44am
Quoting finnyjosh
{quote} Yooo!!! Cheers Mate.
Yuppie Finnyjosh...
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  • #173
  • Mar 6, 2020 9:58am Mar 6, 2020 9:58am
Ouk... Re-entry is allowed for guys who missed the first sell action...
I'm still alive.
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  • #174
  • Mar 6, 2020 10:14am Mar 6, 2020 10:14am
Bulls are naturally stubborn...C'mmon look at.
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  • #175
  • Mar 6, 2020 1:11pm Mar 6, 2020 1:11pm
Quoting BiteFX
Bulls are naturally stubborn...C'mmon look at.
Skolj i can't see anything in your chart but line. Try my simple trading template.
https://drive.google.com/file/d/19mZ...w?usp=drivesdk
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Polish_20200307_020128959.png Size: 201 KB
Click to Enlarge Name: Polish_20200306_104953560.png Size: 512 KB
I do not recommend anything, please blame me not. Thanks
  • #176
  • Edited 6:14am Mar 7, 2020 3:04am | Edited 6:14am
Study Mode Activated...Back Testing and Projections.
Curiosity/Hypothesis and Observation/Evaluation/Conclusion.
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  • #177
  • Mar 8, 2020 6:44am Mar 8, 2020 6:44am
Alright, this can run on both PC and Phones. This is for Monday's Trade.(Going forward, I will upload daily the Fibonacci Values so that we input it and can be on same page during market analysis).

Market must move in one of two directions, Up or Down. Hence, the use of two Fibonacci Retracements.
23.6, 38.2, and 61.8 were deleted to give a better effect during trading and making trading decisions.(I just thought that those levels after close observation, do not necessarily matter as they make the chart clustered).
Gold is big runner, and as such, 11.09, 17.944, and 29.034 were added to the Fibonacci Retracement levels.

Trend lines used are for possible market direction and projection for the day.
BITEFX GOLD MINE template. Upload as a side analysis to your trading chart if you wish.

Questions are welcomed.
Attached File(s)
File Type: tpl BITEFX GOLDMINE.tpl   5 KB | 658 downloads
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  • #178
  • Mar 8, 2020 6:51am Mar 8, 2020 6:51am
Quoting BiteFX
Alright, this can run on both PC and Phones. This is for Monday's Trade.(Going forward, I will upload daily the Fibonacci Values so that we input it and can be on same page during market analysis). Market must move in one of two directions, Up or Down. Hence, the use of two Fibonacci Retracements. 23.6, 38.2, and 61.8 were deleted to give a better effect during trading and making trading decisions.(I just thought that those levels after close observation, do not necessarily matter as they make the chart clustered). Gold is big runner, and as such,...
Pivot is gotten by adding the two Fibo values divided by 2.
Let P=Pivot,
Then, P=(Fibo Value1 + Fibo Value2) / 2

Alternatively, check the 0.5 Value of the Fibonacci Retracement it is the same with your Pivot. Just copy and paste it in the Pivot Value Space or Parameter space.
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  • #179
  • Mar 8, 2020 7:03am Mar 8, 2020 7:03am
Based on what the chart tells us, we make a trading decision.
It is that simple!
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  • #180
  • Mar 8, 2020 7:06am Mar 8, 2020 7:06am
When the market opens, I will as usual give my take on the day's trade.

For now, Happy Sunday Folks. Enjoy the Day!
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