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Gold Mining - Using Each Trading Day's Trend

  • #1,141
  • Apr 6, 2020 6:34am Apr 6, 2020 6:34am
Worse news from Mexico could move price even lower. Possible one more push up higher (to 1645.14) and then down? Any thoughts on that?
MX Gross Fixed Investment y/y -8,8% (previous -3,0%)
Always expect unexpected.
  • #1,142
  • Apr 6, 2020 6:39am Apr 6, 2020 6:39am
Quoting Skoljkica
Worse news from Mexico could move price even lower. Possible one more push up higher (to 1645.14) and then down? Any thoughts on that? MX Gross Fixed Investment y/y -8,8% (previous -3,0%)
C'mmon folks, join up in the thread if you are here...I don't do fundamentals.
I am a pure technical trader-I follow my trade parameters.
Learn... Work Hard... Trade Alone
  • #1,143
  • Apr 6, 2020 6:42am Apr 6, 2020 6:42am
Quoting Skoljkica
Worse news from Mexico could move price even lower. Possible one more push up higher (to 1645.14) and then down? Any thoughts on that? MX Gross Fixed Investment y/y -8,8% (previous -3,0%)
Most often if gold prices have moved about 3000points(300pips) on the chart, it tends to move more in that direction.
(Just one of my observations) but this is not among the trading parameters I check before making trade calls.
Learn... Work Hard... Trade Alone
  • #1,144
  • Apr 6, 2020 6:46am Apr 6, 2020 6:46am
Skolj, I see you are raking in the money today...
Learn... Work Hard... Trade Alone
  • #1,145
  • Apr 6, 2020 6:54am Apr 6, 2020 6:54am
Quoting BiteFX
{quote} C'mmon folks, join up in the thread if you are here...I don't do fundamentals. I am a pure technical trader-I follow my trade parameters.
i don’t do fundamentals either. My chart keeps telling me it wants to go down but it keeps going up. We do have a strong resistance at 1643-1648 there.
  • #1,146
  • Apr 6, 2020 7:11am Apr 6, 2020 7:11am
Quoting coconutbarn
{quote} i don’t do fundamentals either. My chart keeps telling me it wants to go down but it keeps going up. We do have a strong resistance at 1643-1648 there.
Yes, let's see if it does its resistance duty... And send price down.
Learn... Work Hard... Trade Alone
  • #1,147
  • Apr 6, 2020 7:20am Apr 6, 2020 7:20am
Quoting BiteFX
{quote} C'mmon folks, join up in the thread if you are here...I don't do fundamentals. I am a pure technical trader-I follow my trade parameters.
I don't trade fundamentals either, but I am learning how those fundamentals effect price.
That is why I said price could go little higher although news where worse than expected. But if I do understand the affection of the news it is easier to predict how could price move. Even though that could be for a short period like today.
That doesn't mean I am right about it or that price will act in harmony with fundamentals. Just observation.

We should trade the price action and listen to our own methods and we shouldn't let anything affects us. As long we are making profit with it, we are on the right path.
Always expect unexpected.
  • #1,148
  • Apr 6, 2020 7:27am Apr 6, 2020 7:27am
Quoting Skoljkica
{quote} I don't trade fundamentals either, but I am learning how those fundamentals effect price. That is why I said price could go little higher although news where worse than expected. But if I do understand the affection of the news it is easier to predict how could price move. Even though that could be for a short period like today. That doesn't mean I am right about it or that price will act in harmony with fundamentals. Just observation. We should trade the price action and listen to our own methods and we shouldn't let anything affects us....
You're right brother...profit should be the destination of any method in the long run.
Learn... Work Hard... Trade Alone
  • #1,149
  • Apr 6, 2020 8:28am Apr 6, 2020 8:28am
Price still didn't hit 1645.16, and is again on its way to 1636.73. Again, possible support there and up to 1646.16.
If 1646.16 is broken and acts as a support, then up to 1653.09/1667.72.
If not, major sell could act.
Always expect unexpected.
  • #1,150
  • Apr 6, 2020 8:56am Apr 6, 2020 8:56am
Antigravity is happening... almost at 1650... They mean business...1700 might be underway.
Learn... Work Hard... Trade Alone
  • #1,151
  • Apr 6, 2020 9:19am Apr 6, 2020 9:19am
Quoting Skoljkica
Worse news from Mexico could move price even lower. Possible one more push up higher (to 1645.14) and then down? Any thoughts on that? MX Gross Fixed Investment y/y -8,8% (previous -3,0%)
Today is one of the examples why I don't trade fundamentals. Worse news from Mexico but price is rising. Don't see the connection, but maybe I will one day after analyzing it on longer period.
But most important is watching price action and acting upon it. Stick to your plan.
Always expect unexpected.
  • #1,152
  • Apr 6, 2020 9:26am Apr 6, 2020 9:26am
Quoting Skoljkica
Price still didn't hit 1645.16, and is again on its way to 1636.73. Again, possible support there and up to 1646.16. If 1646.16 is broken and acts as a support, then up to 1653.09/1667.72. If not, major sell could act.
Price found support at 1636.73 and broke 1646.16. We can expect price will fall down to confirm it as a support once again.
Up to 1677.72 for now.
Attached Image
Always expect unexpected.
  • #1,153
  • Apr 6, 2020 9:40am Apr 6, 2020 9:40am
Quoting Skoljkica
{quote} Price found support at 1636.73 and broke 1646.16. We can expect price will fall down to confirm it as a support once again. Up to 1677.72 for now. {image}
Whixh chart app is this bro?
  • #1,154
  • Apr 6, 2020 9:43am Apr 6, 2020 9:43am
Quoting Sufi1985
{quote} Whixh chart app is this bro?
MT4, manually drawn Fibo lines and Bollinger Band.
Always expect unexpected.
  • #1,155
  • Apr 6, 2020 10:00am Apr 6, 2020 10:00am
Quoting Skoljkica
{quote} MT4, manually drawn Fibo lines and Bollinger Band.
The tweaking family can tweak anything...
Well done.
Learn... Work Hard... Trade Alone
  • #1,156
  • Apr 6, 2020 10:10am Apr 6, 2020 10:10am
Quoting Skoljkica
{quote} Price found support at 1636.73 and broke 1646.16. We can expect price will fall down to confirm it as a support once again. Up to 1677.72 for now. {image}
Price confirmed 1646.16 as a support.
My TP 1653.00, it will be enough for today.
Attached Image
Always expect unexpected.
  • #1,157
  • Apr 6, 2020 10:22am Apr 6, 2020 10:22am
Quoting Skoljkica
{quote} Price confirmed 1646.16 as a support. My TP 1653.00, it will be enough for today. {image}
Price has difficulties breaking 1649.50 so I've closed my trade there.
Tomorrow is the new day.
Always expect unexpected.
  • #1,158
  • Apr 6, 2020 12:25pm Apr 6, 2020 12:25pm
Last week's high broken... following their antigravity move upto 1660...
Learn... Work Hard... Trade Alone
  • #1,159
  • Apr 6, 2020 12:37pm Apr 6, 2020 12:37pm
Hey guys I look here on a daily to see you guys trading plans and I admire you all for sticking to it. I've been at crossroads trying to trust my trends but cant seem to find the confidence. I'll start maybe posting my ideas as well and you guys could maybe give me feedback or if not I'll just keep reading your comments and learning.
  • #1,160
  • Apr 6, 2020 12:38pm Apr 6, 2020 12:38pm
Earlier trade idea that I had but didnt follow through with and manually closed with a loss -_-
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