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Gold Mining - Using Each Trading Day's Trend

  • #341
  • Mar 11, 2020 2:19pm Mar 11, 2020 2:19pm
Alright, Profit Target reached.
300pips.
I Came Out Alive...
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  • #342
  • Mar 11, 2020 2:21pm Mar 11, 2020 2:21pm
Gold seem to be eyeing 1625 psychological level... But, am out for today...Greed satisfied...We meet tomorrow.
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  • #343
  • Mar 11, 2020 2:22pm Mar 11, 2020 2:22pm
and...We Stay Alive dudes!
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  • #344
  • Mar 11, 2020 2:25pm Mar 11, 2020 2:25pm
Well done B. I bailed on the trade when we broke above pivot, and never got around to entering when we came back down. Really glad you stuck to your plan though
  • #345
  • Mar 11, 2020 3:33pm Mar 11, 2020 3:33pm
Quoting Sluggazn
Well done B. I bailed on the trade when we broke above pivot, and never got around to entering when we came back down. Really glad you stuck to your plan though
Thanks man...Let's Stay Alive for tomorrow.
Learn... Work Hard... Trade Alone
  • #346
  • Edited 5:52pm Mar 11, 2020 5:25pm | Edited 5:52pm
Thursday, March 12, 2020.
Yesterday Bears ate Bulls for Lunch and Dinner after much stubbornness on the path of the Bulls.

Today, both Green and Red trend lines are facing downwards. This signifies more power to the Bears.
With a very big Head and Shoulders chart pattern, I think today is a big move day also.

Trade Idea... Looking to sell P-1641.60 stop loss at R-1656.54
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200311_231708_689.jpg Size: 98 KB
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  • #347
  • Mar 11, 2020 5:31pm Mar 11, 2020 5:31pm
Quoting BiteFX
Thursday, March 12, 2020. Yesterday Bears ate Bulls for Lunch and Dinner. Today, both Green and Red trend lines are facing downwards. This signifies more power to the Bears. With a very big Head and Shoulders chart pattern, I think today is a big move day also. Trade Idea... Looking to sell P-1641.60 stop loss at R-1656.54 {image}
After thought...
This trade may be a 1R=1R at S-1626.66 or 1R=2R at B-1608.19.
Nothing among my parameters is giving Bulls a chance of survival today.

But, this is Forex, anything is possible!
I Stay Alive
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  • #348
  • Mar 11, 2020 5:36pm Mar 11, 2020 5:36pm
And...I am always wrong until the market says I am right.
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  • #349
  • Mar 11, 2020 5:38pm Mar 11, 2020 5:38pm
Quoting BiteFX
Thursday, March 12, 2020. Yesterday Bears ate Bulls for Lunch and Dinner after much stubbornness on the path of the Bulls. Today, both Green and Red trend lines are facing downwards. This signifies more power to the Bears. With a very big Head and Shoulders chart pattern, I think today is a big move day also. Trade Idea... Looking to sell P-1641.60 stop loss at R-1656.54 {image}
Sell limit already activated...I Stay alive!
Learn... Work Hard... Trade Alone
  • #350
  • Mar 11, 2020 5:47pm Mar 11, 2020 5:47pm
Fibonacci Parameters.
BEARISH FIBO-1655.54, 1626.66
BULLISH FIBO-1626.66, 1655.54
PIVOT-1641.60

Download template from 1st page, 1st post.
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  • #351
  • Mar 11, 2020 5:59pm Mar 11, 2020 5:59pm
Gold may retest 1650 psychological level to the upside before tearing down...I'm already in.
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  • #352
  • Mar 11, 2020 11:03pm Mar 11, 2020 11:03pm
Quoting BiteFX
Gold may retest 1650 psychological level to the upside before tearing down...I'm already in.
1650 psychological level was retested following yesterday's breakout.. More to the down side.
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  • #353
  • Mar 11, 2020 11:07pm Mar 11, 2020 11:07pm
Hi @BiteFX!

Been a silent reader of your thread for the past few days and your analysis was spot on.
I am really new at trading and am currently is still looking to build my own strategy.
Do you mind sharing with us how you set up/tweaked your fibonacci and bollinger band indicator?
I keep wondering how do you find those V, B, R, P, S levels. (and what does those abbreviations stands for? all I know is P is for pivot, S for support, R for resistance. please do correct me if I am wrong.)
I have read the first page of this thread but could not find it, maybe I miss it.

Thanks!
  • #354
  • Edited Mar 12, 2020 2:25am Mar 11, 2020 11:27pm | Edited Mar 12, 2020 2:25am
Quoting coconutbarn
Hi @BiteFX! Been a silent reader of your thread for the past few days and your analysis was spot on. I am really new at trading and am currently is still looking to build my own strategy. Do you mind sharing with us how you set up/tweaked your fibonacci and bollinger band indicator? I keep wondering how do you find those V, B, R, P, S levels. (and what does those abbreviations stands for? all I know is P is for pivot, S for support, R for resistance. please do correct me if I am wrong.) I have read the first page of this thread but could not find...
Thanks for the compliment Coconutbarn...I am flattered.
How I got tweaked and set up? Answer...Curiosity and Observation. The answer may not be what you expect, but, that's it if you want to create you own system.

While studying a material, I look for silent cues from the author...For instance, Fibonacci Retracement was created by Leonardo Bigollo Pissano in 11TH CENTURY AND CAN BE SEEN IN EVERY WORKS OF NATURE.

If
1. It can be seen in every works of nature,
2. It was created in 11th century.
3. And its so relevant to today's trading.
Then,
1. It should be seen on my chart.
2. It should Work presently on my PC and Phone because it came with MT4 by default.
3. And should show current levels in trading today.

I am putting all of my ideas together, let's see how the end of the month goes... I may drop a note.
Learn... Work Hard... Trade Alone
  • #355
  • Mar 11, 2020 11:29pm Mar 11, 2020 11:29pm
Meanwhile, let's make some money today.
Learn... Work Hard... Trade Alone
  • #356
  • Mar 11, 2020 11:31pm Mar 11, 2020 11:31pm
Quoting BiteFX
{quote} Thanks for the compliment Coconutbarn...I am flattered. How I got tweaked and set up? Answer...Curiosity and Observation. The answer may not be what you expect, but, that's it if you want to create you own system. While studying a material, I look for silent cues from the author...For instance, Fibonacci Retracement was created by Leonardo Bigollo Pissano in 17TH CENTURY AND CAN BE SEEN IN EVERY WORKS OF NATURE. If 1. It can be seen in every works of nature, 2. It was created in 17th century. 3. And its so relevant to today's trading. Then,...
Thank you, @BiteFX!
i’ll be sure to pay more attention and do more research out there about fibonacci retracement and its background!
  • #357
  • Mar 11, 2020 11:39pm Mar 11, 2020 11:39pm
Gold heading to S-1626.66...But, I am still learning to manage my greed level.
So, I am thinking of holding this trade until B-1607.58
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  • #358
  • Mar 11, 2020 11:40pm Mar 11, 2020 11:40pm
Quoting coconutbarn
{quote} Thank you, @BiteFX! i’ll be sure to pay more attention and do more research out there about fibonacci retracement and its background!
My pleasure...
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  • #359
  • Mar 12, 2020 2:32am Mar 12, 2020 2:32am
@Coconutbarn...R,P,S,B,V, 1/2/3/4S, 1/2/3/4B.
RESISTANCE-R
PIVOT-P
SUPPORT-S
BREAKOUT-B
REVERSAL-V
1/2/3/4 SELL
1/2/3/4 BUY
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  • #360
  • Mar 12, 2020 2:38am Mar 12, 2020 2:38am
Quoting BiteFX
@Coconutbarn...R,P,S,B,V, 1/2/3/4S, 1/2/3/4B. RESISTANCE-R PIVOT-P SUPPORT-S BREAKOUT-B REVERSAL-V 1/2/3/4 SELL 1/2/3/4 BUY
So, instead of using normal Fibo numbers, I decided to use these letters after close observation... Being placed on my chart they tell me a story from left to right. And help me make informed trading decision.
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