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Gold Mining - Using Each Trading Day's Trend

  • #1,361
  • Apr 15, 2020 3:21am Apr 15, 2020 3:21am
My trading plan for today.
I expect pull back up to 1722.00 (61.8% WR) /1720.33 (23.6% DR), so sell there.
TP 1680.00 (100% WS)
SL 1724.00
Attached Image
Attached Image


Price could find support at 1682.00, so I will wait and see price action there.
Always expect unexpected.
  • #1,362
  • Apr 15, 2020 3:44am Apr 15, 2020 3:44am
Quoting Skoljkica
My trading plan for today. I expect pull back up to 1722.00 (61.8% WR) /1720.33 (23.6% DR), so sell there. TP 1680.00 (100% WS) SL 1724.00 {image}{image} Price could find support at 1682.00, so I will wait and see price action there.
Price has difficulties breaking 1714.39. It is possible price will retest it again, maybe some consolidation between 1714.39 and 1710.00.
I will see, possible short at 1714.39.
Always expect unexpected.
  • #1,363
  • Apr 15, 2020 4:33am Apr 15, 2020 4:33am
Quoting Skoljkica
{quote} Great analysis!
Thanks man...
Learn... Work Hard... Trade Alone
  • #1,364
  • Apr 15, 2020 4:41am Apr 15, 2020 4:41am
Just want to say guys i am a newbie to forex and have been interested in gold trading for some time. I have followed your posts for the last few days and i just want to say all your guys analysis are amazing.

I am looking to learn how to analyse and ur posts are brilliant. Any tips where i can start on how to analyse

As BiteFX says 'trade is war' and i definitely want to stay alive lol
  • #1,365
  • Apr 15, 2020 5:07am Apr 15, 2020 5:07am
I'm in.
I have 2 trades because I was little impatient with the first (lower) one. I stay alive
SL 1722.00
TP 1683.00
Attached Image
Always expect unexpected.
  • #1,366
  • Apr 15, 2020 5:39am Apr 15, 2020 5:39am
Quoting Skoljkica
My trading plan for today. I expect pull back up to 1722.00 (61.8% WR) /1720.33 (23.6% DR), so sell there. TP 1680.00 (100% WS) SL 1724.00 {image}{image} Price could find support at 1682.00, so I will wait and see price action there.
Price did pull back up to 1722.00
Let's see is it going to be resistance, if not I am out of my trades.
Attached Image
Always expect unexpected.
  • #1,367
  • Apr 15, 2020 6:59am Apr 15, 2020 6:59am
Quoting Akmal01
Just want to say guys i am a newbie to forex and have been interested in gold trading for some time. I have followed your posts for the last few days and i just want to say all your guys analysis are amazing. I am looking to learn how to analyse and ur posts are brilliant. Any tips where i can start on how to analyse As BiteFX says 'trade is war' and i definitely want to stay alive lol
Akmal01... You're welcome here as we mine Gold together.
To start,
First, read first post on the first page of this thread.
Then, read our chart analysis daily... You will soon catch the epidemic.
Don't forget to Subscribe... And Stay Alive
Learn... Work Hard... Trade Alone
  • #1,368
  • Apr 15, 2020 7:09am Apr 15, 2020 7:09am
Market and are battling between 1725 and 1720...
I think the bears are done for today so far...Am expecting antigravity...But the market is our judge...
Learn... Work Hard... Trade Alone
  • #1,369
  • Apr 15, 2020 7:11am Apr 15, 2020 7:11am
Good morning all! So as I just noticed BITEFX and Skol you guys are on point with your analysis for today. The break below 1711 in my opinion did show us bears want to control the day. Bulls pushed it back to 1722 where bears seem to have taken over. After some reanalyzing, 1682 is a great target for bears to drive it down to. I've attached more charts ,obviously the same as before just updated with new info. Also to note is that 4hr could potentially be in for a hns down to 1682 as you guys had mentioned.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_20200415-080900_MetaTrader 4.jpg Size: 1,018 KB
Click to Enlarge Name: Screenshot_20200415-080946_MetaTrader 4.jpg Size: 1.1 MB
  • #1,370
  • Apr 15, 2020 7:17am Apr 15, 2020 7:17am
Quoting rayoub
Good morning all! So as I just noticed BITEFX and Skol you guys are on point with your analysis for today. The break below 1711 in my opinion did show us bears want to control the day. Bulls pushed it back to 1722 where bears seem to have taken over. After some reanalyzing, 1682 is a great target for bears to drive it down to. I've attached more charts ,obviously the same as before just updated with new info. Also to note is that 4hr could potentially be in for a hns down to 1682 as you guys had mentioned. {image} {image}
Am thinking the same...it's just that am expecting antigravity to about 1730/35 again before gravity.
Learn... Work Hard... Trade Alone
  • #1,371
  • Apr 15, 2020 7:23am Apr 15, 2020 7:23am
Price still holds under 1725.00 so I'm still in with my trades.
Above it is my SL.
But due to upcoming new in a few minutes price could go wild. And news could be worse for USD.
Even tough I'm expecting price will go lower, I've adjusted my TP to 1710.00, but expecting 1683.00
Always expect unexpected.
  • #1,372
  • Apr 15, 2020 7:31am Apr 15, 2020 7:31am
Quoting BiteFX
{quote} Am thinking the same...it's just that am expecting antigravity to about 1730/35 again before gravity.
It is a possibility, Markets been sending mixed signals since yesterday lol. I am waiting to see, if price makes a push back above 1725 then very high probability it would pull back before gravity takes over. But if bears can keep it below 1722,1723 which I had indicated in the trend channel I posted earlier., bulls might not have what it takes to push it up any higher. On the flip side 1718 could become a major support to continue anti gravity to 1730 maybe even back to 1743.
  • #1,373
  • Apr 15, 2020 7:34am Apr 15, 2020 7:34am
I guess main levels to watch right now would be 1725-1727 and 1717-1718.
If bulls can take it above 1727 antigravity should continue, if bears take it below 1717 we should expect antigravity....Again just my thoughts only market will confirm or deny.
  • #1,374
  • Apr 15, 2020 7:40am Apr 15, 2020 7:40am
Quoting Skoljkica
Price still holds under 1725.00 so I'm still in with my trades. Above it is my SL. But due to upcoming new in a few minutes price could go wild. And news could be worse for USD. Even tough I'm expecting price will go lower, I've adjusted my TP to 1710.00, but expecting 1683.00
one thing I have noticed Skol since I switched my trading techniques to solely trend following and support and resitance levels, is that almost regardless of news and data that comes out, the market goes where the market is supposed to go... one would expect bad news for usd and for usd futures to drop gold to go up etc, but the trend is the trend as you stated you see 1683, regardless of news the trend and price will go where it goes.
  • #1,375
  • Apr 15, 2020 7:46am Apr 15, 2020 7:46am
Quoting rayoub
{quote} one thing I have noticed Skol since I switched my trading techniques to solely trend following and support and resitance levels, is that almost regardless of news and data that comes out, the market goes where the market is supposed to go... one would expect bad news for usd and for usd futures to drop gold to go up etc, but the trend is the trend as you stated you see 1683, regardless of news the trend and price will go where it goes.
I have literally not paid attention to almost any of the data or news releases because they act essentially just as catalysts for the move your trends are showing you. I just say this because before news events scared me out of trades because of the volatility before or I would literally wait min by min for news releases, but all I found was the trend did what it was going to do anyways, Perfect example with the data that was just released. Horrible for usd obviously, but gold still dropping and usd still rising. just want to encourage you to stick to your game plan. I always regret it when I dont.
  • #1,376
  • Apr 15, 2020 7:53am Apr 15, 2020 7:53am
Quoting Skoljkica
I'm in. I have 2 trades because I was little impatient with the first (lower) one. I stay alive SL 1722.00 TP 1683.00 {image}
I've got out with both trades with profit.
What I can say about today is that my prediction (price will make pull back up to 1722.00 was correct), but execution was really bad because I didn't stick with my plan.
If things were different and if I did execute my trade at 1722.00 I would probably close at 1714.39 again (but with bigger profit).
I'm watching the price now, it could find support at 1714.39 and change the momentum. For now, no trades.
Attached Image
Always expect unexpected.
  • #1,377
  • Apr 15, 2020 7:56am Apr 15, 2020 7:56am
Rayoub...The head and shoulders pattern you mentioned is visible but I think is not yet matured... Take a look at the one in March for example that gave birth to that mighty gravity, it matured fully in 8 trading days.
When this one is fully matured, 1710 will be the major neckline to be broken downward.

Well done job brother... We Stay Alive
Learn... Work Hard... Trade Alone
  • #1,378
  • Apr 15, 2020 7:56am Apr 15, 2020 7:56am
Quoting rayoub
{quote} one thing I have noticed Skol since I switched my trading techniques to solely trend following and support and resitance levels, is that almost regardless of news and data that comes out, the market goes where the market is supposed to go... one would expect bad news for usd and for usd futures to drop gold to go up etc, but the trend is the trend as you stated you see 1683, regardless of news the trend and price will go where it goes.
I absolutely agree with. Trading news doesn't make sense. Your plan and sticking to it is what matters.
Many times news were worse but price went up and reverse.
Always expect unexpected.
  • #1,379
  • Apr 15, 2020 7:58am Apr 15, 2020 7:58am
Quoting Skoljkica
{quote} I've got out with both trades with profit. What I can say about today is that my prediction (price will make pull back up to 1722.00 was correct), but execution was really bad because I didn't stick with my plan. If things were different and if I did execute my trade at 1722.00 I would probably close at 1714.39 again (but with bigger profit). I'm watching the price now, it could find support at 1714.39 and change the momentum. For now, no trades. {image}
Well done job Skoljkica...
Learn... Work Hard... Trade Alone
  • #1,380
  • Apr 15, 2020 7:58am Apr 15, 2020 7:58am
Quoting rayoub
{quote} I have literally not paid attention to almost any of the data or news releases because they act essentially just as catalysts for the move your trends are showing you. I just say this because before news events scared me out of trades because of the volatility before or I would literally wait min by min for news releases, but all I found was the trend did what it was going to do anyways, Perfect example with the data that was just released. Horrible for usd obviously, but gold still dropping and usd still rising. just want to encourage you...
Again agree wit you. Perfectly said. News are there to scare those who don't have a plan with price going wild.
Always expect unexpected.
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