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Gold Mining - Using Each Trading Day's Trend

  • #1,481
  • Apr 17, 2020 2:57am Apr 17, 2020 2:57am
Quoting rayoub
{quote} I appreciate that... that makes much more sense then thinking I will win every trade every day lol... but I like how you put it into perspective, after a given amount of time one should be able to be profitable. And I am still in the process of trying to separate the emotions from the trade, plenty time market reacts and I initiate or long or short premature to where my limits are at ,thus not trusting my own analysis (leading to high risk of failure). Discipline in this game is very very difficult but definitely necessary.
Am also in the process... I enter pressure trades too sometimes... That is why we are humans.
But overall, we get better today than yesterday.
Learn... Work Hard... Trade Alone
  • #1,482
  • Apr 17, 2020 3:36am Apr 17, 2020 3:36am
Good day to all

I am expecting pull back up to 1700.62/1706.78 where I will put my sell order with:
TP1=1682.15
TP2=1664.18
If price breaks 1682.15 and finds it as a resistance, then I can think of TP2, but price could go even lower to 1657.51

However, if 1682.15 becomes support, then up to 1706.78 again as a first resistance. Possible up to 1731.42

Attached Image
Attached Image
Always expect unexpected.
  • #1,483
  • Apr 17, 2020 5:26am Apr 17, 2020 5:26am
I have a buy limit at 1682.15
TP 150 pip
SL 40 pip
Always expect unexpected.
  • #1,484
  • Apr 17, 2020 5:27am Apr 17, 2020 5:27am
Out of sell with 200 pips profit...Initial loss of today covered with extra profit...Gravity is here.
Thank you.
Learn... Work Hard... Trade Alone
  • #1,485
  • Apr 17, 2020 5:28am Apr 17, 2020 5:28am
Quoting BiteFX
Out of sell with 200 pips profit...Initial loss of today covered with extra profit...Gravity is here. Thank you.
Well done
Always expect unexpected.
  • #1,486
  • Apr 17, 2020 5:37am Apr 17, 2020 5:37am
Quoting Skoljkica
{quote} Well done
Thanks man... But, I haven't made substantial profit this week.
Learn... Work Hard... Trade Alone
  • #1,487
  • Apr 17, 2020 5:40am Apr 17, 2020 5:40am
Quoting BiteFX
{quote} Thanks man... But, I haven't made substantial profit this week.
Crazy week for me.
Learn... Work Hard... Trade Alone
  • #1,488
  • Apr 17, 2020 5:41am Apr 17, 2020 5:41am
Quoting BiteFX
{quote} Thanks man... But, I haven't made substantial profit this week.
Better some profit than loss.
There are good and bad days.
It is important to know when is enough.
Always expect unexpected.
  • #1,489
  • Apr 17, 2020 5:45am Apr 17, 2020 5:45am
Quoting Skoljkica
{quote} Better some profit than loss. There are good and bad days. It is important to know when is enough.
That's right man... Just that, out of everything I've learnt, am still learning to manage my greed level.
Learn... Work Hard... Trade Alone
  • #1,490
  • Apr 17, 2020 6:05am Apr 17, 2020 6:05am
Was looking for short entry at 1705, i set an alert for gold actually to wake me up but i had my volume turned down low and at one point i woke up and thought well i didnt here any alarm so price must not be near my desired entry(1705) so let me just shut my computer off and go back to bed lol. Turns out it did come up to that level and i missed my oppurtunity. DO you guys think I can get short on a bullish retracement back up to 1700 or do you think the bearish move is done?
  • #1,491
  • Apr 17, 2020 6:46am Apr 17, 2020 6:46am
Quoting sharingan9
Was looking for short entry at 1705, i set an alert for gold actually to wake me up but i had my volume turned down low and at one point i woke up and thought well i didnt here any alarm so price must not be near my desired entry(1705) so let me just shut my computer off and go back to bed lol. Turns out it did come up to that level and i missed my oppurtunity. DO you guys think I can get short on a bullish retracement back up to 1700 or do you think the bearish move is done?
Brother, our analysis here is daily...
For today, I think gravity is very much upon us...when there is a bullish pull back of about 100-150 pips, I will go short from there, considering candlestick formations also.

I hope that's what you were looking for.
Learn... Work Hard... Trade Alone
  • #1,492
  • Apr 17, 2020 7:03am Apr 17, 2020 7:03am
Quoting BiteFX
{quote} Brother, our analysis here is daily... For today, I think gravity is very much upon us...when there is a bullish pull back of about 100-150 pips, I will go short from there, considering candlestick formations also. I hope that's what you were looking for.
yes thank you very much.
  • #1,493
  • Edited 7:36am Apr 17, 2020 7:14am | Edited 7:36am
Bears are still dominating the market. For how long we will see.
It is possible 1682.15 will be broken, maybe 1679.78 will act as a support. I will see.
I've turned off EA, but parameters are still there. I'm staying aside for now and watching.

1697.37/1700.62 should act as a resistance.
Always expect unexpected.
  • #1,494
  • Apr 17, 2020 7:47am Apr 17, 2020 7:47am
Quoting sharingan9
{quote} yes thank you very much.
My pleasure...
Learn... Work Hard... Trade Alone
  • #1,495
  • Apr 17, 2020 7:58am Apr 17, 2020 7:58am
Quoting Skoljkica
1697.37/1700.62 should act as a resistance.
Attached Image

1693.66 has a double support line (month and day), if broken, down to 1682.15/1679.78
Always expect unexpected.
  • #1,496
  • Apr 17, 2020 8:15am Apr 17, 2020 8:15am
Sell limit at 1702.29...Stop loss at 1709.89
Learn... Work Hard... Trade Alone
  • #1,497
  • Apr 17, 2020 8:29am Apr 17, 2020 8:29am
Quoting Skoljkica
I'm staying aside for now and watching. 1697.37/1700.62 should act as a resistance.

Price couldn't break 1700.62, but 1693.37 could act as a support which can push price up to 1706.78
If not, I expect previous scenario
Attached Image
Always expect unexpected.
  • #1,498
  • Apr 17, 2020 10:37am Apr 17, 2020 10:37am
Quoting BiteFX
{quote} Am also in the process... I enter pressure trades too sometimes... That is why we are humans. But overall, we get better today than yesterday.
Couldn't have said it better. And good day Skol.. I really appreciate your analysis and charts, honestly helps me learn everyday. I've been on the side since the trading day began,, took one too many losses this week to be comfortable with and didnt have a properly executed game plan such as 1r=2r wtc kind of just winged it with losses and profits, not the smartest thing to do but we learn every day. Going back through this weeks analysis MAN we were all spot on!!! I learn from you guys everyday...As I'm finding no greed, no fear" fear of losing yet another trade hindered an almost perfect analysis on what market did so far.

Anyways back to analysis and charts lol
Seems bears are controlling the market for now however 1683 has held its ground so far. If we get a break of 1682 I see 1675 as first support then down to 1665, possibly extending to 1657, only if a nice break below 1682.

on the flip side if bulls can take it back above 1699.65 might be able to use that as a support back to 1721.50
  • #1,499
  • Apr 17, 2020 10:41am Apr 17, 2020 10:41am
Quoting Skoljkica
{quote} {image} 1693.66 has a double support line (month and day), if broken, down to 1682.15/1679.78
1682.15 almost hit
I'm done for today.
Great week guys.
Attached Image
Always expect unexpected.
  • #1,500
  • Apr 17, 2020 10:44am Apr 17, 2020 10:44am
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