Gold Mining - Using Each Trading Day's Trend | Page 38 | Metals Mine

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Gold Mining - Using Each Trading Day's Trend

  • #741
  • Mar 23, 2020 9:32pm Mar 23, 2020 9:32pm
Quoting BiteFX
{quote} I missed this train... So, am gonna wait for the market at 1600 to initiate a short position.
If it doesn't get there, considering price action, I may sell 1570 as a pull back.
Learn... Work Hard... Trade Alone
  • #742
  • Mar 23, 2020 11:40pm Mar 23, 2020 11:40pm
Short 1575...Pull back ride.
Stop Loss 1590...if hit, it shows the trade idea was wrong.
Learn... Work Hard... Trade Alone
  • #743
  • Mar 23, 2020 11:52pm Mar 23, 2020 11:52pm
Quoting BiteFX
Short 1575...Pull back ride. Stop Loss 1590...if hit, it shows the trade idea was wrong.
Double rejection at 1580 psychological level informed this decision, I won't stay too much on this trade...Perhaps 1R:1R is ouk.
Learn... Work Hard... Trade Alone
  • #744
  • Mar 24, 2020 12:22am Mar 24, 2020 12:22am
Quoting BiteFX
Short 1575...Pull back ride. Stop Loss 1590...if hit, it shows the trade idea was wrong.
Up and running...
Learn... Work Hard... Trade Alone
  • #745
  • Mar 24, 2020 12:24am Mar 24, 2020 12:24am
1580-1570 is still a good ish move.
Learn... Work Hard... Trade Alone
  • #746
  • Mar 24, 2020 1:31am Mar 24, 2020 1:31am
Price sitting on 1560 may retrace to 1540 before further bullish movement.
Learn... Work Hard... Trade Alone
  • #747
  • Mar 24, 2020 3:57am Mar 24, 2020 3:57am
Morning all

Looking to short at 1596.90 (100% Day Resistance) with TP at 1568.23 (61.8% WS)
If price doesn't find support there, potential TP 1546.98 (23.6% WS)
SL 1599.00
Attached Image
Always expect unexpected.
  • #748
  • Mar 24, 2020 5:01am Mar 24, 2020 5:01am
What!
My broker increased spread to 80pips!
Like seriously?
What's happening in the market today?
Learn... Work Hard... Trade Alone
  • #749
  • Mar 24, 2020 5:03am Mar 24, 2020 5:03am
Quoting BiteFX
What! My broker increased spread to 80pips! Like seriously? What's happening in the market today?
Common, am out of here.
What!
I think a very big volatility is coming.
Learn... Work Hard... Trade Alone
  • #750
  • Mar 24, 2020 5:07am Mar 24, 2020 5:07am
Quoting BiteFX
What! My broker increased spread to 80pips! Like seriously? What's happening in the market today?
Yesterday, spread was huge on all 28 symbols even though we are paying commission when entering the trade.
Here spread is 20 pips on Gold. Still too much, but 80...it would eat my SL when entering the trade.
Always expect unexpected.
  • #751
  • Mar 24, 2020 5:11am Mar 24, 2020 5:11am
Quoting Skoljkica
{quote} Yesterday, spread was huge on all 28 symbols even though we are paying commission when entering the trade. Here spread is 20 pips on Gold. Still too much, but 80...it would eat my SL when entering the trade.
I didn't notice it until I entered. Then I saw -8.34USD...I was mad to the core.
I had to close the trade at -0.24USD...Because it already destabilized my thoughts.
Learn... Work Hard... Trade Alone
  • #752
  • Mar 24, 2020 5:15am Mar 24, 2020 5:15am
Quoting BiteFX
{quote} I didn't notice it until I entered. Then I saw -8.34USD...I was mad to the core. I had to close the trade at -0.24USD...Because it already destabilized my thoughts.
It will be very hard to trade today. Price came to my sell line but I still didn't enter. When I look at price moving on M5 chart, my heart would stop if I was in trade. Will wait for some conformation if price let me.
Always expect unexpected.
  • #753
  • Mar 24, 2020 5:16am Mar 24, 2020 5:16am
Perhaps, I will just watch 1600-1630 what's gonna happen there before I open a trade...'cos, I wanted to buy the top to that level before. I ain't doing that no more.
Learn... Work Hard... Trade Alone
  • #754
  • Mar 24, 2020 5:17am Mar 24, 2020 5:17am
Quoting Skoljkica
{quote} It will be very hard to trade today. Price came to my sell line but I still didn't enter. When I look at price moving on M5 chart, my heart would stop if I was in trade. Will wait for some conformation if price let me.
Yes! You're right.
Learn... Work Hard... Trade Alone
  • #755
  • Mar 24, 2020 5:19am Mar 24, 2020 5:19am
It's unusual for HotForex to increase spread during the day...something is fishy.
Learn... Work Hard... Trade Alone
  • #756
  • Mar 24, 2020 5:29am Mar 24, 2020 5:29am
I am expecting one more push up before bears appear
1596.90 is target again, possible 1598.98 which is 38.2% Month Resistance (it isn't on this chart)
Attached Image
Always expect unexpected.
  • #757
  • Mar 24, 2020 5:44am Mar 24, 2020 5:44am
Quoting Skoljkica
I am expecting one more push up before bears appear 1596.90 is target again, possible 1598.98 which is 38.2% Month Resistance (it isn't on this chart) {image}
So, this scenario is played, price went higher to 1602.62
Will see what next, but now my sell target for TP is 1589.49, it is possible price will find it as a support and continue its up movement to 1610.74
Attached Image
Attached Image
Always expect unexpected.
  • #758
  • Mar 24, 2020 5:47am Mar 24, 2020 5:47am
Now it's time to open a short position...
  • #759
  • Mar 24, 2020 5:54am Mar 24, 2020 5:54am
Quoting Skoljkica
{quote} So, this scenario is played, price went higher to 1602.62 Will see what next, but now my sell target for TP is 1589.49, it is possible price will find it as a support and continue its up movement to 1610.74 {image} {image}
Price went above 1610.74 up to 1617.31
Attached Image

It is so hard to trade today, I will stay aside.
I won't be surprised if price falls down to 1589.49 (100% WS) and go up to 1617.31 again, in one movement.
Always expect unexpected.
  • #760
  • Mar 24, 2020 6:42am Mar 24, 2020 6:42am
Quoting Skoljkica
{quote} I won't be surprised if price falls down to 1589.49 (100% WS) and go up to 1617.31 again, in one movement.
First scenario is played, let's next one
If price falls down to 1594.66 (23.6% QS) I will enter long with TP 1610.74/1617.31
Always expect unexpected.
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