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Gold Mining - Using Each Trading Day's Trend

  • #801
  • Mar 25, 2020 5:26am Mar 25, 2020 5:26am
Quoting BiteFX
{quote} I am thinking of 1510-1500...Gold seems to be running like mad these days.
Yeah, it does. It made 3 weeks range in 3 days.
Price is holding 1617.31 for now, but it could go lower.
I'm still out of trade, waiting an opportunity.
Always expect unexpected.
  • #802
  • Edited 6:57am Mar 25, 2020 6:45am | Edited 6:57am
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}
Update
Attached Image

Price didn't reach 1589.49
It would be great if price once more fall down to 1594.00 to confirm support, but 1600.00/1602.62 also looks as potential support line.
Always expect unexpected.
  • #803
  • Mar 25, 2020 7:09am Mar 25, 2020 7:09am
Market went down to 1600 that acted as a temporary support to me.
I am looking at 1500 psychological level.
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  • #804
  • Mar 25, 2020 7:13am Mar 25, 2020 7:13am
Quoting BiteFX
Market went down to 1600 that acted as a temporary support to me. I am looking at 1500 psychological level.
Did you close your sell order after this fall?
Always expect unexpected.
  • #805
  • Mar 25, 2020 7:21am Mar 25, 2020 7:21am
I expect worse news for USD coming in 10 minutes, so one more push down as mentioned in the previous post, and then up again, would be nice.
Always expect unexpected.
  • #806
  • Mar 25, 2020 7:38am Mar 25, 2020 7:38am
Quoting Skoljkica
{quote} Did you close your sell order after this fall?
No am still on...
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  • #807
  • Mar 25, 2020 7:39am Mar 25, 2020 7:39am
Quoting Skoljkica
I expect worse news for USD coming in 10 minutes, so one more push down as mentioned in the previous post, and then up again, would be nice.
News was positive for USD today.
Learn... Work Hard... Trade Alone
  • #808
  • Mar 25, 2020 7:54am Mar 25, 2020 7:54am
Quoting BiteFX
{quote} News was positive for USD today.
Mixed signals
Attached Image (click to enlarge)
Click to Enlarge Name: usd.png Size: 18 KB
Always expect unexpected.
  • #809
  • Mar 25, 2020 7:59am Mar 25, 2020 7:59am
Quoting Skoljkica
{quote} Mixed signals {image}
This is one of the major reasons I depend entirely on the signal my chart gives me...It is not 100%. But, it's making my account grow.
Some false, some true... Over a large sample size trading data... I come out profitable.
Learn... Work Hard... Trade Alone
  • #810
  • Mar 25, 2020 8:02am Mar 25, 2020 8:02am
Quoting BiteFX
{quote} This is one of the major reasons I depend entirely on the signal my chart gives me...It is not 100%. But, it's making my account grow. Some false, some true... Over a large sample size trading data... I come out profitable.
I don't trade news. It is unreliable.
As long as your profits are bigger than you losses, you are on the right track.
Keep going.
Always expect unexpected.
  • #811
  • Mar 25, 2020 9:02am Mar 25, 2020 9:02am
Quoting Skoljkica
{quote} I don't trade news. It is unreliable. As long as your profits are bigger than you losses, you are on the right track. Keep going.
That's right bro.
Learn... Work Hard... Trade Alone
  • #812
  • Mar 25, 2020 9:08am Mar 25, 2020 9:08am
1620 acted as a resistance, now 1610 acting as a resistance.
If this level holds, the next psychological level am eyeing will be 1580.
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  • #813
  • Mar 25, 2020 12:16pm Mar 25, 2020 12:16pm
Price currently locked in between 1620 and 1610 finding a breakout...
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  • #814
  • Mar 25, 2020 12:35pm Mar 25, 2020 12:35pm
Quoting BiteFX
Price currently locked in between 1620 and 1610 finding a breakout...
In my opinion, the bulls have lost momentum, this will allow for the bears to step in one more time and thrust the market deeper.
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  • #815
  • Edited 7:05pm Mar 25, 2020 6:48pm | Edited 7:05pm
Thursday March 26, 2020.

Bears won yesterday's candle fight as bulls lost momentum to break past the 1640 psychological level but were sent below 1620.

Red trendlines giving a mixed bullish signal are broken downward by price...shows bulls are confused.
Blue trendlines seem to be clear about a downward move, but the market has a mixed sentiment as to where to go.

And if price follows through this downward sloping trendline breaking below 1600, the market will be exposed to 1560, 1510, 1500 psychological levels.

Otherwise, a break above 1640 will expose the market to 1700, 1760, 1800 psychological levels.

Given this, a short is more probable than a long for today.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200326_003150_845.jpg Size: 110 KB
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  • #816
  • Mar 25, 2020 7:01pm Mar 25, 2020 7:01pm
Quoting BiteFX
Thursday March 26, 2020. Bears won yesterday's candle fight as bulls lost momentum to break past the 1640 psychological level but were sent below 1620. Red trendlines giving a mixed bullish signal are broken downward by price...shows bulls are confused. Blue trendlines seem to be clear about a downward move, but the market has a mixed sentiment as to where to go. And if price follows through this downward sloping trendline breaking below 1600, the market will be exposed to 1560, 1510, 1500 psychological levels. Otherwise, a break above 1640 will...
1600 has been a very strong psychological level that the market has always reacted to.
It comes into play again today as the battle continues.

"If you're choosing a party, be sure about this, anyone can win the battle, but stay alive".
Learn... Work Hard... Trade Alone
  • #817
  • Mar 25, 2020 11:13pm Mar 25, 2020 11:13pm
Quoting BiteFX
{quote} 1600 has been a very strong psychological level that the market has always reacted to. It comes into play again today as the battle continues. "If you're choosing a party, be sure about this, anyone can win the battle, but stay alive".
1600 broken... Let's see if we can get to 1560.
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  • #818
  • Mar 26, 2020 1:40am Mar 26, 2020 1:40am
First profit taken at 1600...sell stop activated... on the move.
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  • #819
  • Mar 26, 2020 2:28am Mar 26, 2020 2:28am
Wow! Did you see that?
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  • #820
  • Mar 26, 2020 2:31am Mar 26, 2020 2:31am
Quoting BiteFX
First profit taken at 1600...sell stop activated... on the move.
Sell stop take profit at 1510 reached.... Woooooooow.!
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