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Gold Mining - Using Each Trading Day's Trend

  • #1,321
  • Apr 13, 2020 10:50am Apr 13, 2020 10:50am
I manually closed my trade at 1710.68. Want to go to sleep and didnt want a panic attack over 35 pips lol. Overall I'd say we did a great analysis on todays market movement. I am going to analyze my charts a bit more. I expect a bearish movement back towards 1695 possibly even lower as a move back below 1703 could trigger that March all time high to be a resistance taking us even lower back to 1657 as we've all discussed.
  • #1,322
  • Apr 13, 2020 10:56am Apr 13, 2020 10:56am
Quoting rayoub
I manually closed my trade at 1710.68. Want to go to sleep and didnt want a panic attack over 35 pips lol. Overall I'd say we did a great analysis on todays market movement. I am going to analyze my charts a bit more. I expect a bearish movement back towards 1695 possibly even lower as a move back below 1703 could trigger that March all time high to be a resistance taking us even lower back to 1657 as we've all discussed.
Enjoy your brother... You did well to have come out alive.
Learn... Work Hard... Trade Alone
  • #1,323
  • Apr 13, 2020 3:13pm Apr 13, 2020 3:13pm
Quoting BiteFX
{quote} Enjoy your brother... You did well to have come out alive.
Thanks for the words of encouragement sir. Hopefully your enjoying yours as well too. Seems bulls were able to push the price to 1715 where my 4hr trendline resistance was. Bulls continued upwards pressure to 1722. Daily and 4hr resistance were between 1714-1717. New day soon so new analysis. I will post my trade ideas with my charts after day closes so I dont speak prematurely without market confirmation.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200413-161305_MetaTrader 4.jpg Size: 655 KB
  • #1,324
  • Apr 13, 2020 4:25pm Apr 13, 2020 4:25pm
So trading ideas for tomorrow. Bulls held control most of the day... But bears were able to push the price back below 1715-1717 area which the attached images show. So it's quite possible that this may initiate a bear run to lower numbers. After some minor tweaking to the trend lines I see that daily resistance was more around 1721. My tp from long at 1682 was a little premature but we learn as we go on. Is I illustrated I believe bears might get a nice run tomorrow if bulls cannot break back above 1717 for 4hr and 1721 for daily and drive price back to 1682 further extending down 1674 and possibly to daily support at 1657.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_20200413-171911_MetaTrader 4.jpg Size: 843 KB
Click to Enlarge Name: Screenshot_20200413-172143_MetaTrader 4.jpg Size: 843 KB
  • #1,325
  • Apr 13, 2020 4:33pm Apr 13, 2020 4:33pm
Quoting rayoub
So trading ideas for tomorrow. Bulls held control most of the day... But bears were able to push the price back below 1715-1717 area which the attached images show. So it's quite possible that this may initiate a bear run to lower numbers. After some minor tweaking to the trend lines I see that daily resistance was more around 1721. My tp from long at 1682 was a little premature but we learn as we go on. Is I illustrated I believe bears might get a nice run tomorrow if bulls cannot break back above 1717 for 4hr and 1721 for daily and drive price...
Wow! Great analysis!
This is how we mine gold brother...Well done job!
Learn... Work Hard... Trade Alone
  • #1,326
  • Apr 13, 2020 4:48pm Apr 13, 2020 4:48pm
Trade Ideas for tomorrow... Tuesday April 14, 2020.
Bulls made a multi year high today around 1721 price area which became a resistance that sent price a little bit lower prior to the close of the trading day.

Tommorrow, we expect a bearish pull back.

There are three levels to watch... 1728.99, 1717.54, and 1706.08

A break above 1728.99 invalidates the bearish pull back.
A retest of 1717.54 below, should make a thrust.
While a break below 1706.08 will validate the gravity.

Trade idea...Sell limit 1717.54 stop loss at 1728.99
Or the more conservative, wait for the break below 1706.08 before initiating a short order.

We Stay Alive...
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200413_221957_214.jpg Size: 91 KB
Learn... Work Hard... Trade Alone
  • #1,327
  • Apr 13, 2020 6:04pm Apr 13, 2020 6:04pm
Quoting BiteFX
Trade Ideas for tomorrow... Tuesday April 14, 2020. Bulls made a multi year high today around 1721 price area which became a resistance that sent price a little bit lower prior to the close of the trading day. Tommorrow, we expect a bearish pull back. There are three levels to watch... 1728.99, 1717.54, and 1706.08 A break above 1728.99 invalidates the bearish pull back. A retest of 1717.54 below, should make a thrust. While a break below 1706.08 will validate the gravity. Trade idea...Sell limit 1717.54 stop loss at 1728.99 Or the more conservative,...
Alright, am in...1717.54...I await market judgement.
Learn... Work Hard... Trade Alone
  • #1,328
  • Apr 13, 2020 6:32pm Apr 13, 2020 6:32pm
Quoting BiteFX
{quote} Alright, am in...1717.54...I await market judgement.
As am I. we will see where the market takes us. 1st confirmation of a bear run would be if they can drive price back to 1695 placing price below 1705
  • #1,329
  • Apr 13, 2020 8:53pm Apr 13, 2020 8:53pm
Here is my chart and, no comments, at the moment
Attached Image (click to enlarge)
Click to Enlarge Name: mychart.png Size: 66 KB
  • #1,330
  • Apr 13, 2020 10:40pm Apr 13, 2020 10:40pm
Still waiting for market to decide where it wants to go. Holding strong onto my short position initiated at 1720. however bulls and bears seem to be battling between 1715 and 1722. Slight push above and below but mainly in between. Waiting for price to confirm a bearish pull back or a bullish push to 1728.99 as Bitefx stated and even beyond to 1743.
  • #1,331
  • Apr 13, 2020 11:23pm Apr 13, 2020 11:23pm
Quoting rayoub
Still waiting for market to decide where it wants to go. Holding strong onto my short position initiated at 1720. however bulls and bears seem to be battling between 1715 and 1722. Slight push above and below but mainly in between. Waiting for price to confirm a bearish pull back or a bullish push to 1728.99 as Bitefx stated and even beyond to 1743.
So far... We're still alive
Learn... Work Hard... Trade Alone
  • #1,332
  • Apr 13, 2020 11:27pm Apr 13, 2020 11:27pm
Quoting QuantaMath
Here is my chart and, no comments, at the moment {image}
I love your strategy QuantaMath, you are a very conservative trader...Good on you
Learn... Work Hard... Trade Alone
  • #1,333
  • Apr 13, 2020 11:28pm Apr 13, 2020 11:28pm
Quoting rayoub
Still waiting for market to decide where it wants to go. Holding strong onto my short position initiated at 1720. however bulls and bears seem to be battling between 1715 and 1722. Slight push above and below but mainly in between. Waiting for price to confirm a bearish pull back or a bullish push to 1728.99 as Bitefx stated and even beyond to 1743.
Rayoub, you really got this guy from a very good price... Nice one...
Learn... Work Hard... Trade Alone
  • #1,334
  • Apr 13, 2020 11:47pm Apr 13, 2020 11:47pm
Quoting BiteFX
{quote} I love your strategy QuantaMath, you are a very conservative trader...Good on you
Thanks,
I was trading aggressively and destroyed my account over and over again, until an important point from you that inspired me: Trade is war, STAY ALIVE!!!,
  • #1,335
  • Apr 14, 2020 12:48am Apr 14, 2020 12:48am
Quoting BiteFX
Trade Ideas for tomorrow... Tuesday April 14, 2020. Bulls made a multi year high today around 1721 price area which became a resistance that sent price a little bit lower prior to the close of the trading day. Tommorrow, we expect a bearish pull back. There are three levels to watch... 1728.99, 1717.54, and 1706.08 A break above 1728.99 invalidates the bearish pull back. A retest of 1717.54 below, should make a thrust. While a break below 1706.08 will validate the gravity. Trade idea...Sell limit 1717.54 stop loss at 1728.99 Or the more conservative,...
Today is gonna be a little bit of a funny day... So, my first take profit will be at 1706.08...am doing 1R=1R today first.
This is Forex, anything is possible!
Learn... Work Hard... Trade Alone
  • #1,336
  • Apr 14, 2020 3:06am Apr 14, 2020 3:06am
Morning all.
You have great analysis there.

Yesterday, price reached 1706.78 as I mentioned it as a first resistance and went much higher.

So today, second resistance is on the way, 1731.42 and then
third resistance 1746.64.
I am looking to enter long at 1717.35 (23.6% DS) if price will retest it. If not, I will look 1722.00 (61.8% WS) as a support line to go long.
Attached Image
Attached Image
Always expect unexpected.
  • #1,337
  • Apr 14, 2020 3:16am Apr 14, 2020 3:16am
Wow! Just saw that spike... My stop loss almost hit.
Learn... Work Hard... Trade Alone
  • #1,338
  • Apr 14, 2020 3:17am Apr 14, 2020 3:17am
Quoting Skoljkica
Morning all. You have great analysis there. Yesterday, price reached 1706.78 as I mentioned it as a first resistance and went much higher. So today, second resistance is on the way, 1731.42 and then third resistance 1746.64. I am looking to enter long at 1717.35 (23.6% DS) if price will retest it. If not, I will look 1722.00 (61.8% WS) as a support line to go long. {image}{image}
Yeah... Morning Skoljkica!
Learn... Work Hard... Trade Alone
  • #1,339
  • Apr 14, 2020 3:19am Apr 14, 2020 3:19am
Quoting BiteFX
{quote} Today is gonna be a little bit of a funny day... So, my first take profit will be at 1706.08...am doing 1R=1R today first. This is Forex, anything is possible!
Not only funny... But crazy.
Learn... Work Hard... Trade Alone
  • #1,340
  • Apr 14, 2020 3:27am Apr 14, 2020 3:27am
Quoting Skoljkica
Morning all. You have great analysis there. Yesterday, price reached 1706.78 as I mentioned it as a first resistance and went much higher. So today, second resistance is on the way, 1731.42 and then third resistance 1746.64. I am looking to enter long at 1717.35 (23.6% DS) if price will retest it. If not, I will look 1722.00 (61.8% WS) as a support line to go long. {image}{image}
Today price can go up to 1771.27 (38.2% WR), especially if USD continues to be weak.
Always expect unexpected.
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