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Gold Mining - Using Each Trading Day's Trend

  • #781
  • Mar 24, 2020 8:15am Mar 24, 2020 8:15am
Quoting Skoljkica
{quote} Great news for you. We will see, I am trying to figure out how these happenings in the world are affecting upcoming news, but sometimes it doesn't have connections one with another. And sometimes results don't impact the way I thought it should.
I am already short...this is no good news.
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  • #782
  • Mar 24, 2020 8:30am Mar 24, 2020 8:30am
15mins to the release...na wa o
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  • #783
  • Mar 24, 2020 8:42am Mar 24, 2020 8:42am
Quoting BiteFX
{quote} I am already short...this is no good news.
Sorry, I had an idea at that time that you went long...
Always expect unexpected.
  • #784
  • Mar 24, 2020 8:47am Mar 24, 2020 8:47am
Spread came to 80 pips
Always expect unexpected.
  • #785
  • Mar 24, 2020 8:49am Mar 24, 2020 8:49am
Us Flash Manufacturing PMI above forecast but below 50...still bad for my short position...
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  • #786
  • Mar 24, 2020 9:05am Mar 24, 2020 9:05am
Mixed news for USD
Always expect unexpected.
  • #787
  • Mar 24, 2020 9:13am Mar 24, 2020 9:13am
I have left the trade alone... If it hits stop loss, sote... It it doesn't, sote.
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  • #788
  • Mar 24, 2020 10:06am Mar 24, 2020 10:06am
Looking at M30 chart, 1589.49 is acting as a support for some time
Possible price will go more up.
I wouldn't be surprised if this week price reaches 1632.00, of course with ups and downs
Attached Image
Always expect unexpected.
  • #789
  • Mar 24, 2020 3:00pm Mar 24, 2020 3:00pm
Quoting Skoljkica
Looking at M30 chart, 1589.49 is acting as a support for some time Possible price will go more up. I wouldn't be surprised if this week price reaches 1632.00, of course with ups and downs {image}
Did I say until the end of the week?
Attached Image
Always expect unexpected.
  • #790
  • Mar 24, 2020 8:23pm Mar 24, 2020 8:23pm
Wednesday March 25, 2020.

The Bulls got back to the neckline of the massive head and shoulder chart pattern that formed using 8 trading days, and are giving off signs of exhaustion around 1630 psychological level.

The Red-Bearish trend lines are broken downward, the bullish trend lines are yet to be broken signalling a trade set up. If the bullish trend lines are broken downward at 1610, a Bearish move may resume back to the 1500 psychological level.

Levels to watch for a possible trade entry are 1640 and 1630 psychological level.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200325_020157_593.jpg Size: 135 KB
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  • #791
  • Mar 25, 2020 1:23am Mar 25, 2020 1:23am
Quoting BiteFX
Wednesday March 25, 2020. The Bulls got back to the neckline of the massive head and shoulder chart pattern that formed using 8 trading days, and are giving off signs of exhaustion around 1630 psychological level. The Red-Bearish trend lines are broken downward, the bullish trend lines are yet to be broken signalling a trade set up. If the bullish trend lines are broken downward at 1610, a Bearish move may resume back to the 1500 psychological level. Levels to watch for a possible trade entry are 1640 and 1630 psychological level. {image}
Trend lines are broken downward... A retest of 1620 psychological level should push price further down.
Sell limit order at 1620.
To be more conservative wait if 1630 will be retested again.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200325_072557_355.jpg Size: 147 KB
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  • #792
  • Mar 25, 2020 2:05am Mar 25, 2020 2:05am
Quoting Skoljkica
{quote} Did I say until the end of the week? {image}
I don't think so... The price will still fall.
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  • #793
  • Mar 25, 2020 3:46am Mar 25, 2020 3:46am
Quoting BiteFX
{quote} I don't think so... The price will still fall.
I thought price will rise to 1632.00 until the end of the week, but it did all that range yesterday.
Today, new day, new predictions.
Always expect unexpected.
  • #794
  • Edited 4:11am Mar 25, 2020 3:57am | Edited 4:11am
I am expecting gold to fall down to 1590.35/1589.49 (100% WS) and rise up to 1610.74 (38.2% WR)

I will see how price is moving there, possible short after this huge growth, down to 1546.98 (23.6% WS)
But, I also wouldn't be surprised if price continues its up movement to 1666.38
Attached Image
Always expect unexpected.
  • #795
  • Mar 25, 2020 4:13am Mar 25, 2020 4:13am
Is spread today smaller than yesterday?
For now it varies from 2-30 pips for me. I hope we won't have the same situation like yesterday.
Always expect unexpected.
  • #796
  • Mar 25, 2020 4:44am Mar 25, 2020 4:44am
Quoting BiteFX
{quote} Trend lines are broken downward... A retest of 1620 psychological level should push price further down. Sell limit order at 1620. To be more conservative wait if 1630 will be retested again. {image}
A retest underway...
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  • #797
  • Mar 25, 2020 5:02am Mar 25, 2020 5:02am
Quoting Skoljkica
I am expecting gold to fall down to 1590.35/1589.49 (100% WS) and rise up to 1610.74 (38.2% WR) I will see how price is moving there, possible short after this huge growth, down to 1546.98 (23.6% WS) But, I also wouldn't be surprised if price continues its up movement to 1666.38 {image}
Price didn't retest 1589.49 but found support at 1602.62 and went straight to 1623.87, on its way to retest 1632.00 again.
Possible down to 1617.31 or 1610.74. 1614.00 can also act as a support.
And up to 1632.00/1645.13
Attached Image
Always expect unexpected.
  • #798
  • Mar 25, 2020 5:05am Mar 25, 2020 5:05am
Quoting BiteFX
{quote} A retest underway...
Am in... Let's see market's judgement on my position.
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  • #799
  • Mar 25, 2020 5:09am Mar 25, 2020 5:09am
Quoting Skoljkica
Is spread today smaller than yesterday? For now it varies from 2-30 pips for me. I hope we won't have the same situation like yesterday.
Yes, it is around that range... It was a global phenomenon yesterday. One 30 years of trading professional said he hasn't seen such in about 11 years of trading gold.
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  • #800
  • Mar 25, 2020 5:14am Mar 25, 2020 5:14am
Quoting Skoljkica
{quote} Price didn't retest 1589.49 but found support at 1602.62 and went straight to 1623.87, on its way to retest 1632.00 again. Possible down to 1617.31 or 1610.74. 1614.00 can also act as a support. And up to 1632.00/1645.13 {image}
I am thinking of 1510-1500...Gold seems to be running like mad these days.
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