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Gold Mining - Using Each Trading Day's Trend

  • #1,381
  • Apr 15, 2020 8:00am Apr 15, 2020 8:00am
Quoting BiteFX
{quote} Well done job Skoljkica...
Thanks Bite. I did stay alive.
Always expect unexpected.
  • #1,382
  • Edited 9:15am Apr 15, 2020 8:02am | Edited 9:15am
I've been a bear today, had a sell on since 1710 got eager so waiting out the market, hopefully it doesnt stop out at 1730 or drop back to 1710 for me to close. Just hoping it doesnt break trend and stays going down

BiteFX I've read the first page and the rules. Appreciate it
  • #1,383
  • Apr 15, 2020 8:05am Apr 15, 2020 8:05am
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}
I've pulled up a chair alongside you lol. For me just watching. missed the sell spot that BITEFx had mentioned at 1730 which would have been a great entry but as for now it's on battlefield mode so on the sidelines.

BiteFX thank you for stating that honestly. I forget sometimes the tf I am paying attention to, you are absolutely correct since this is on 4hr it could take a day or maybe 2 to fully mature but yes I see 1710 would be that neckline.

And Skol, yes so many times early on with my reading i sa mera red data and sold and to my surprise everytime was stopped out, now i know only the price determines where we go next, not the countless amounts of news that come out right before markets open or right after they close etc.

Sticking to the plan is all it is whether you hit your sl or tp we cannot doubt our trends or we negate everything we are studying.
  • #1,384
  • Edited 9:05am Apr 15, 2020 8:53am | Edited 9:05am
The first chart is 1H and the white thick trend line could be an important support for uptrend
Attached Image (click to enlarge)
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The second chart is 15H intraday and it beaked the top line of blue channel so I guess if it will break the yellow Daily Pivot: 1727 and set the line as support so i will possible for the price to move above up to at least Daily R1:17496
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 62 KB
  • #1,385
  • Apr 15, 2020 9:12am Apr 15, 2020 9:12am
Quoting Skoljkica
{quote} I'm watching the price now, it could find support at 1714.39 and change the momentum. For now, no trades. {image}
Price found support at 1714.39
Attached Image
Always expect unexpected.
  • #1,386
  • Apr 15, 2020 9:36am Apr 15, 2020 9:36am
Quoting Akmal01
I've been a bear today, had a sell on since 1710 got eager so waiting out the market, hopefully it doesnt stop out at 1730 or drop back to 1710 for me to close. Just hoping it doesnt break trend and stays going down BiteFX I've read the first page and the rules. Appreciate it
If you ask me, you were predicting a breakout...and that was really really dangerous.
More so, your stop loss 2000 points? Well, that's your risk level if you're comfortable with it...Just Stay Alive.
Learn... Work Hard... Trade Alone
  • #1,387
  • Apr 15, 2020 9:39am Apr 15, 2020 9:39am
I have 2 buy orders running (just like Skoljkica) during gravity.
I didn't take my profit at 1725 before... But now, am going to take it there this time at exactly 1725 level.

I Stay Alive...

Quoting BiteFX
I have 2 buy orders running (just like Skoljkica) during gravity. I didn't take my profit at 1725 before... But now, am going to take it there this time at exactly 1725 level. I Stay Alive...
Although gold is eyeing 1735...I chose to stay alive at 1725...give me my money gold.
Learn... Work Hard... Trade Alone
  • #1,388
  • Apr 15, 2020 10:05am Apr 15, 2020 10:05am
Quoting BiteFX
{quote} If you ask me, you were predicting a breakout...and that was really really dangerous. More so, your stop loss 2000 points? Well, that's your risk level if you're comfortable with it...Just Stay Alive.

I know idiot move, but i'm learning and intend to be more risk safe going forward

Contemplating whether to close or let it play out but i think now that I done the stupid just going to be patient
  • #1,389
  • Apr 15, 2020 10:31am Apr 15, 2020 10:31am
Quoting Akmal01
{quote} I know idiot move, but i'm learning and intend to be more risk safe going forward Contemplating whether to close or let it play out but i think now that I done the stupid just going to be patient
You know, I too was predicting antigravity to 1730 but it didn't get there but reversed at 1725...having bought from 1715, now I had to close my trades at 1720 for small 50 pips...because I want to rest... Not sote.

My usual pips starts from 100...same as my stop loss.

I came out alive
Learn... Work Hard... Trade Alone
  • #1,390
  • Apr 15, 2020 10:35am Apr 15, 2020 10:35am
Quoting BiteFX
{quote} You know, I too was predicting antigravity to 1730 but it didn't get there but reversed at 1725...having bought from 1715, now I had to close my trades at 1720 for small 50 pips...because I want to rest... Not sote. My usual pips starts from 100...same as my stop loss. I came out alive
I'll be following your lot guidance from now on, but I am learning I will get there and failure are just some steps to get there.
  • #1,391
  • Apr 15, 2020 10:54am Apr 15, 2020 10:54am
Quoting BiteFX
I have 2 buy orders running (just like Skoljkica) during gravity. I didn't take my profit at 1725 before... But now, am going to take it there this time at exactly 1725 level. I Stay Alive... {quote} Although gold is eyeing 1735...I chose to stay alive at 1725...give me my money gold.
Awesome.!!! Enjoy the green my friend!!.
predicting a breakout is definitely dangerous. As is interpreting a false breakout as a real one as I did yesterday. Made it out alive but not without my losses lol.
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  • #1,392
  • Apr 15, 2020 10:57am Apr 15, 2020 10:57am
Quoting rayoub
{quote} Awesome.!!! Enjoy the green my friend!!. predicting a breakout is definitely dangerous. As is interpreting a false breakout as a real one as I did yesterday. Made it out alive but not without my losses lol. {image} {image}
Yeah plan is to make this one out alive ant then not repeating going forward lol
  • #1,393
  • Apr 15, 2020 10:59am Apr 15, 2020 10:59am
price just went down to try 1710. bears are fighting hard. if they manage to close this hour under 1714.39 could see some nice down moves coming soon.
  • #1,394
  • Apr 15, 2020 11:02am Apr 15, 2020 11:02am
Quoting QuantaMath
The second chart is 15H intraday and it beaked the top line of blue channel so I guess if it will break the yellow Daily Pivot: 1727 and set the line as support so i will possible for the price to move above up to at least Daily R1:17496 {image}
It seem I was wrong
  • #1,395
  • Apr 15, 2020 11:03am Apr 15, 2020 11:03am
Quoting Akmal01
{quote} Yeah plan is to make this one out alive ant then not repeating going forward lol
lol we live we learn we stay alive. You were just given the chance as we speak. went right back to 1710. I cant speak upon anything more than what I've learned but trust your trade if you made wit off of a proper analysis of the market. o spoke about a hns possibly down to 1683. Skol spoke of a drop to around the same area. we've seen plenty of resistance by bears above. BiteFX said 1710 could potentially be a neckline, if that's the case be patient with your trade move your sl to a more acceptable number
  • #1,396
  • Edited 11:15am Apr 15, 2020 11:05am | Edited 11:15am
Quoting rayoub
price just went down to try 1710. bears are fighting hard. if they manage to close this hour under 1714.39 could see some nice down moves coming soon.
i was planning on closing my position but now that you said that after waiting all day and seeing negative balances i think i will keep it open.

Head and Shoulder entry does look valid unless trend is broken.
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  • #1,397
  • Apr 15, 2020 11:16am Apr 15, 2020 11:16am
Quoting Akmal01
{quote} i was planning on closing my position but now that you said that after waiting all day and seeing negative balances i think i will keep it open.
Obviously I am not advising you what to do I am solely speaking from experience. I've emotionally closed many trades right before the move that I had analyzed and anticipated happened. and I mean more MINUTES before. Trust your trade of ot doesnt go your way get out. It is still it seems in a downtrend until that trend is broken and the market tells you it plans to go back up then you get out. Of market is telling you we are going down still...
  • #1,398
  • Apr 15, 2020 11:19am Apr 15, 2020 11:19am
Quoting rayoub
{quote} Obviously I am not advising you what to do I am solely speaking from experience. I've emotionally closed many trades right before the move that I had analyzed and anticipated happened. and I mean more MINUTES before. Trust your trade of ot doesnt go your way get out. It is still it seems in a downtrend until that trend is broken and the market tells you it plans to go back up then you get out. Of market is telling you we are going down still...
yeah i know bad choice of words 'now that you said' apologies, going with the trend and analysis for now.
  • #1,399
  • Apr 15, 2020 11:42am Apr 15, 2020 11:42am
Quoting Akmal01
{quote} yeah i know bad choice of words 'now that you said' apologies, going with the trend and analysis for now.
No problem I completely agree with your analysis just would feel bad if it went the other way as we know in forex anything is possible !. But seems as if bulls are having a very difficult time taking it back above 1715. a further push below 1710 and a solid close beneath it would confirm gravity move. however if bulls can take it back above 1725 it would invalidate my thoughts and could continue up.
  • #1,400
  • Apr 15, 2020 1:13pm Apr 15, 2020 1:13pm
Bulls still fighting to hold Ground above 1714.. upwards push could potentially take it to 1727 where I have labeled in charts. 1723 is important to watch as it is daily resistance on channel
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