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Gold Mining - Using Each Trading Day's Trend

  • #1,241
  • Edited 6:37am Apr 8, 2020 6:13am | Edited 6:37am
Quoting Skoljkica
{quote} Price didn't do expected pull back so I stayed out of this trade. 1644.04 is on the way as a support line. TP1 1653.09 TP2 1667.72 SL around 1640.00 If price continues its fall, then next support is at 1636.73
1644.04 is hit, now wait if price gives me another chance to enter it. Maybe around 1642.58 (100% DS)

Earlier mentioned 1648.00 which I was watching as a support is now acting as a resistance. I'm patient with my entry.
Always expect unexpected.
  • #1,242
  • Apr 8, 2020 6:27am Apr 8, 2020 6:27am
Quoting Skoljkica
{quote} Earlier mentioned 1648.00 which I was watching as a support is now acting as a resistance. I'm patient with my entry.
Reason I'm patient with my entry. Price broke 1648.00 and find it as a support. Mixed signals today.

Is 1653.09 on its way again, or maybe 1651.10?
Always expect unexpected.
  • #1,243
  • Apr 8, 2020 6:36am Apr 8, 2020 6:36am
Quoting Skoljkica
{quote} 1644.04 is hit, now wait if price gives me another chance to enter it. Maybe around 1642.58 (100% DS) Earlier mentioned 1648.00 which I was watching as a support is now acting as a resistance. I'm patient with my entry.
Scalped (50 sec trade), but because of spread instead of 1642.58 my trade opened at 1644.04
Too bad, if my trade was opened at 1642.58 I would let it to stay, but this way no.

Will price go lower or will find once again support at 1642.58? Let's see.

Attached Image
Always expect unexpected.
  • #1,244
  • Apr 8, 2020 7:19am Apr 8, 2020 7:19am
Again, jumped in front of a runaway train. Let's see if I will stay alive.
New buy entry at 1644.72
Potential TP 1667.72, but not sure about it. It is too far away.
1653.09 seems more realistic.
Attached Image
Always expect unexpected.
  • #1,245
  • Apr 8, 2020 7:25am Apr 8, 2020 7:25am
Quoting Skoljkica
Again, jumped in front of a runaway train. Let's see if I will stay alive. New buy entry at 1644.72 Potential TP 1667.72, but not sure about it. It is too far away. 1653.09 seems more realistic. {image}
Closed at 1648.52. I need to see is that line going to be support or resistance. Looks like a deciding line.
Always expect unexpected.
  • #1,246
  • Apr 8, 2020 7:27am Apr 8, 2020 7:27am
Quoting Skoljkica
Again, jumped in front of a runaway train. Let's see if I will stay alive. New buy entry at 1644.72 Potential TP 1667.72, but not sure about it. It is too far away. 1653.09 seems more realistic. {image}
It is not too far away from Gold's reach... Trust me.
I am even looking at 1680 when antigravity continues eventually.
Learn... Work Hard... Trade Alone
  • #1,247
  • Apr 8, 2020 7:30am Apr 8, 2020 7:30am
1645 acting as a support at the moment... But gold eyeing 1642 again perhaps before antigravity...I stay alive.
Learn... Work Hard... Trade Alone
  • #1,248
  • Apr 8, 2020 7:30am Apr 8, 2020 7:30am
Quoting BiteFX
{quote} It is not too far away from Gold's reach... Trust me. I am even looking at 1680 when antigravity continues eventually.
Agree with you.
Still, price is finding hard to break that imagined 1648.00, so possible down to 1636.73. Maybe. Maybe not. Will see.
If 1667.72 is broken, price will go up to 1691.40.
Always expect unexpected.
  • #1,249
  • Apr 8, 2020 8:05am Apr 8, 2020 8:05am
Today is a wide ranging market... Directional bias battle .
Learn... Work Hard... Trade Alone
  • #1,250
  • Apr 8, 2020 8:53am Apr 8, 2020 8:53am
hey BiteFx and skoljika how are you guys doing today? was reading up on the trades you guys have been gettin in this morning. I had put a sell limit at 1656 with tp at 1637
  • #1,251
  • Apr 8, 2020 9:04am Apr 8, 2020 9:04am
Seems bears have had a hard time breaking below 1640 pscy level, however bulls cant break above 1656-1657 where a resistance is seeming to form. if bulls cant break it above 1657 I see a bearish pull back to 1637 possibly even lower
  • #1,252
  • Apr 8, 2020 9:10am Apr 8, 2020 9:10am
these are my charts on diff tf. as you can see I've labeled the trend lines which I think will act as support or resistance. need to work on having it a little more legiblie.
Attached Image(s) (click to enlarge)
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  • #1,253
  • Edited 9:24am Apr 8, 2020 9:13am | Edited 9:24am
Quoting rayoub
Seems bears have had a hard time breaking below 1640 pscy level, however bulls cant break above 1656-1657 where a resistance is seeming to form. if bulls cant break it above 1657 I see a bearish pull back to 1637 possibly even lower
I agree with you, if price can't break 1653.09 down to 1636.73 (according to my Fibo lines).
But whole day there is a battle in the range 1653.09 and 1642.58.
We will see who will win, bulls or bears.
Stay alive!
And don't forget. Tonight are FOMC minutes for USD. Price could go crazy.
Always expect unexpected.
  • #1,254
  • Apr 8, 2020 9:18am Apr 8, 2020 9:18am
Quoting rayoub
these are my charts on diff tf. as you can see I've labeled the trend lines which I think will act as support or resistance. need to work on having it a little more legiblie. {image} {image} {image}
Looking at your chart, on M15, 1648 was support and resistance.
It is very weird but good day to trade. Many opportunities for entering the trade.
It is up to you to decide how long are you willing to stay in the trade.
Your TP is reachable if price goes down.

All of this is my opinion, it doesn't mean I am right or wrong. It is important that you trust your decisions.
Always expect unexpected.
  • #1,255
  • Apr 8, 2020 9:25am Apr 8, 2020 9:25am
Quoting Skoljkica
{quote} I agree with you, if price can't break1653.09 down to 1636.73 (according to my Fibo lines). But whole day there is a battle in the range 1653.09 and 1644.04. We will see who will win, bulls or bears. Stay alive! And don't forget. Tonight are FOMC minutes for USD. Price could go crazy.
Yes indeed it has been a battle within a tight range its mornings like this I wish I had my cigg coffee and scalping ready lol. Great scalping range from 1642 to 1655. However, your right I should mark that on my 15m chart thank you skol. this is why I like you all I appreciate the feedback and the convos pointing us each in a right direction to prosper.
  • #1,256
  • Apr 8, 2020 9:54am Apr 8, 2020 9:54am
Quoting rayoub
hey BiteFx and skoljika how are you guys doing today? was reading up on the trades you guys have been gettin in this morning. I had put a sell limit at 1656 with tp at 1637
Today is a very deceptive market...it would be safer to go with the prior directional bias...but if you can scalp them short and still come out alive... It would be very nice.
Learn... Work Hard... Trade Alone
  • #1,257
  • Apr 8, 2020 9:58am Apr 8, 2020 9:58am
I've closed my previous positions alive after re-evaluation of the market's dynamic so far.
Buy Limit at 1642 awaits.
Learn... Work Hard... Trade Alone
  • #1,258
  • Apr 8, 2020 10:05am Apr 8, 2020 10:05am
Quoting BiteFX
I've closed my previous positions alive after re-evaluation of the market's dynamic so far. Buy Limit at 1642 awaits.
I see that now. market had tried 1642. 70 fter my sell limit was placed however tp was at 1637, I will continue watching but if not I'll close manually and stay alive. I will move sl to 1654 in the event it breaks 1653 as skol mentioned and uses as support.
  • #1,259
  • Apr 8, 2020 10:34am Apr 8, 2020 10:34am
I follow the advice on the first page, first post...NO GREED, NO FEAR.
Don't chase the market, it will come to you... The fear of missing out on a trade is one reason your broker is smiling on your money.
Learn... Work Hard... Trade Alone
  • #1,260
  • Apr 8, 2020 10:50am Apr 8, 2020 10:50am
Quoting Skoljkica
{quote} Looking at your chart, on M15, 1648 was support and resistance. It is very weird but good day to trade. Many opportunities for entering the trade. It is up to you to decide how long are you willing to stay in the trade. Your TP is reachable if price goes down. All of this is my opinion, it doesn't mean I am right or wrong. It is important that you trust your decisions.
Skoljkica, I believe by now you already know that the market is our only judge whether we are wrong or right.
We Stay Alive
Learn... Work Hard... Trade Alone
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