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4 + 1 (Metals) strategy

  • #4,021
  • Apr 21, 2020 4:35am Apr 21, 2020 4:35am
Quoting MzansiObi
Update: LO hour bearish as such need to err on the side of caution with bullish setups and wait for the 1697.74 handle to break on an hourly basis....
So long as the current H1 close isnt below the head structure of the current H1 Structure from our consolidation box then the current setup remains intact....break below requires we wait for confirmation when it gets inside the D1 buy ZOne....


Green Pips
4&1 All Time Profit: $37,496
  • #4,022
  • Apr 21, 2020 10:03am Apr 21, 2020 10:03am
Update: Our D1 Buy Zone providing the bullish bounce from that break out lower from the consolidation bo9x, we go back to yesterdays level and look for H1 close above the 1685 handle
4&1 All Time Profit: $37,496
  • #4,023
  • Apr 21, 2020 10:09am Apr 21, 2020 10:09am
Quoting MzansiObi
Update: Our D1 Buy Zone providing the bullish bounce from that break out lower from the consolidation bo9x, we go back to yesterdays level and look for H1 close above the 1685 handle
The bounce area mentioned by you is also fib50 from right shoulder of inverse HnS on daily chart.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #4,024
  • Apr 21, 2020 3:34pm Apr 21, 2020 3:34pm
Quoting farukh
{quote} The bounce area mentioned by you is also fib50 from right shoulder of inverse HnS on daily chart.
This is what Farukh is referring to, the Inverse HnS on the daily marked out like this and the 50% retracement is depicted at point X the blue line(i) depicts that right shoulder extension.....
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4&1 All Time Profit: $37,496
  • #4,025
  • Apr 22, 2020 12:00am Apr 22, 2020 12:00am
22 April 2020


Well, the Dip inside the daily buy zone has produced a bounce off of the 1659 handle, of particular interest is how the Daily close following this bounce resulted in price closing above the 1680 price handle following a bullish daily inside bar so while we had a bearish daily close, the reality is that the lower prices have been rejected and as such keeping the general bullish structure intact, we we need to wait and see the H1 zone flip bullish and begin closing back above the 1685 handle then the 1697.61 mark .... Well worth noting is how the lower band of the Daily buy zone has tracked higher to that 1648.74 handle, ie our previous breakout level we marked as a key level.

H1: Bearish with a Neutral Bias: 1684.24 - 1683.57.
H4: Bearish and Sell Zone:1686.63 - 1690.29.
D1: Bullish and Buy Zone:1669.88 - 1648.74.

Intra Day Levels
Upside
1719.19
1714.85
1704.64
1695.65
1683.16

Downside
1681.10
1678.63
1674.11
1666.55
1658.10


Daily Naked chart: (i) Bullish inside bar (ii) Farukhs 50% retracement level inside the D1 buy Zone from right shoulder.
H1 Chart: flat and no clear depiction of current zone hence why we have a neutral outlook on it
H4 Chart: (i) next objective following a clearing of the 1685 handle
(ii) H4 sell zone.
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4&1 All Time Profit: $37,496
  • #4,026
  • Apr 22, 2020 12:00am Apr 22, 2020 12:00am
Quoting MzansiObi
22 April 2020 Well, the Dip inside the daily buy zone has produced a bounce off of the 1659 handle, of particular interest is how the Daily close following this bounce resulted in price closing above the 1680 price handle following a bullish daily inside bar so while we had a bearish daily close, the reality is that the lower prices have been rejected and as such keeping the general bullish structure intact, we we need to wait and see the H1 zone flip bullish and begin closing back above the 1685 handle then the 1697.61 mark .... Well worth noting...
Green Pips
4&1 All Time Profit: $37,496
  • #4,027
  • Apr 22, 2020 12:41am Apr 22, 2020 12:41am
Update: Pending Buy Order 1677.90
SL 1645
TP OPen


Given the widened range price has been making, postion size(lot size) becomes very NB
4&1 All Time Profit: $37,496
  • #4,028
  • Apr 22, 2020 2:51am Apr 22, 2020 2:51am
Update:
little milestones. First objective to the top has been met, looking for a close above that 1697 handle now....

patience
4&1 All Time Profit: $37,496
  • #4,029
  • Apr 22, 2020 4:59am Apr 22, 2020 4:59am
Update: H1 Has finally crossed over bullish and now also trading above our 1685 focus point. As such, any buy dips inside the H1 buy Zone become buy dip opportunities....it would be even better if price can rally higher before the retest of the H1 buy Zone so that we can get a an incline on that zone to show that the H1 has begun a new trend...

H1: Bullish and Buy Zone:1687.67 - 1685.90.



Green Pips
4&1 All Time Profit: $37,496
  • #4,030
  • Apr 22, 2020 8:40am Apr 22, 2020 8:40am
Update: H1 Buy Zone Sloping upwards and shifted towards: 1693.97 - 1690.38


H1 Chart: (i) Upward sloping H1 buy ZOne
(B) Stchastic crossover as such expecting another dip and opportunity to load long.....


Green Pips


Green Pips
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4&1 All Time Profit: $37,496
  • #4,031
  • Apr 22, 2020 1:52pm Apr 22, 2020 1:52pm
22 April 2020

Update: Price rallied and reached some of our upside levels for the day there is just one more upside objective for the topside.
H1 Buy Zone Currently pulled up to the 1702.93 - 1696.29....


Expecting abit of a pullback before the continuation to the topside...



Green Pips
4&1 All Time Profit: $37,496
  • #4,032
  • Apr 22, 2020 6:01pm Apr 22, 2020 6:01pm
23 April 2020


Price action has rewarded our patience and behaved accordingly with the previous down move into the D1 buy zone, given where the current Zones are across all our three major time frames, our next focus shifts from the 1648 handle to the 1685 handle as we have been fixated on PA around that handle. The outlook still remains to look to buy the dips and look for the overall target of the greater picture at that 1837 handle, however that still remains far off as such we keep tracking it on an intra day basis from the lower time frames...



H1: Bullish and Buy Zone: 1707.41 - 1699.47
H4: Bullish and Buy Zone: 1699.45 - 1694.93
D1: Bullish and Buy Zone: 1679.99 - 1654.26


Intra Day Levels
Upside
1745.92
1742.44
1727.80
1718.76
1711.61
Downside
1703.98
1699.45
1689.49
1682.36
1680.45



Naked chart outlook outlining the H1 outlook following the breakout then the retest and now price clearly depicting its next way forward.
Some confluence of our zones also lie near or inside these key support and resistance levels....

Green Pips
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4&1 All Time Profit: $37,496
  • #4,033
  • Apr 22, 2020 6:04pm Apr 22, 2020 6:04pm
Pending Buy Order:
Buy 1703.98
SL 1680
TP Open

Green Pips
4&1 All Time Profit: $37,496
  • #4,034
  • Apr 23, 2020 1:02am Apr 23, 2020 1:02am
Update:

H1 Buy Zone has rallied to : 1710.31 - 1704.41.

First Retest of the H1 buy Zone producing a bit of a rally, price bouncing off of the 1706.62 handle.

Waiting to see what the London open does in a few, but the outlook is to buy dips in accordance with the bullish daily outlook and price which has broken above those key levels.

H1 RSi showing some hidden RSI divergence as such hinting that there may be continued buying opportunities with more dips going forward.....


Green Pips...
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4&1 All Time Profit: $37,496
  • #4,035
  • Apr 23, 2020 3:03am Apr 23, 2020 3:03am
23 April 2020


We forming another consolidation Box, given the bullish overall outlook, looking to see the following if we break through the overhead resistance on this consolidation box...
To further see this consolidation, a drop down onto the m15 chart will outline this sideways consolidation....



Green Pips
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4&1 All Time Profit: $37,496
  • #4,036
  • Apr 23, 2020 5:27am Apr 23, 2020 5:27am
Quoting MzansiObi
Update: H1 Buy Zone has rallied to : 1710.31 - 1704.41. First Retest of the H1 buy Zone producing a bit of a rally, price bouncing off of the 1706.62 handle. Waiting to see what the London open does in a few, but the outlook is to buy dips in accordance with the bullish daily outlook and price which has broken above those key levels. H1 RSi showing some hidden RSI divergence as such hinting that there may be continued buying opportunities with more dips going forward..... Green Pips... {image}
London opening hour was bullish, H1 zone is bullish and has an incline slope(ie sloping upwards) as such, any dip into the H1 buy zone is worth a long buy.
The H1 Buy Zone currently trading between 1715.73 - 1709.82.


Previous H1 candle bearish as such further confirmation of that Hidden RSI divergence that will allow us to get buy dips going.


Green Pips
4&1 All Time Profit: $37,496
  • #4,037
  • Apr 24, 2020 12:37am Apr 24, 2020 12:37am
24 April 2020

As things stand, price has laddered up and moved to the next resistance point as we had identified it, H1 chart showing that price is retesting the breakout level at the 1720 mark, as such need to see bullish H1 price action at this handle followed by a an H1 close above the 1726.55 handle. However the H4 chart is also showing some signs of consolidation as such if these bullish objectives arent covered then the next level we need to watch for is what price does at the nex support handle which also coincides with the H4 Buy Zone. A weekly close above the 1700 mark also a good sign for the bulls...

H1: Bullish and Buy Zone: 1720.82 - 1724.76
H4: Bullish and Buy Zone: 1707.35 - 1713.47
D1: Bullish and Buy Zone: 1687.14 - 1657.09

Intra Day Levels
Upside
1762.93
1756.84
1744.71
1737.22
Downside
1726.55
1719.06
1712.96
1705.47
1695.72
1693.34


Green Pips....
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4&1 All Time Profit: $37,496
  • #4,038
  • Apr 24, 2020 4:31am Apr 24, 2020 4:31am
Update: Bullish London opening Hour from the retest....

H1 buy zone currently sitting at: 1726.32 - 1722.99.

As things stand, despite this bullish outlook, there is a challenge with price needing to break and clear yesterdays high as the m15 chart has formed a HnS pattern,
As such we need to look and see if price will revisit the 1708 handle, as such an H1 close below the 1721.85 will then validate the m15s HnS setup, but that dip in price will give us another opportunity to go long, again, idea and bias here isnt to short Gold but rather look for buy dip opportunities...

Point (i) marks the stop loss point for the H1 buyers ie as soon as there is a lower daily close below this handle then its a good idea to consider waiting for bullish price action from the H4 Buy ZOne.
Point(ii) marks the key overhead resistance price needs to clear......
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4&1 All Time Profit: $37,496
  • #4,039
  • Apr 24, 2020 9:12am Apr 24, 2020 9:12am
Quoting MzansiObi
Update: Bullish London opening Hour from the retest.... H1 buy zone currently sitting at: 1726.32 - 1722.99. As things stand, despite this bullish outlook, there is a challenge with price needing to break and clear yesterdays high as the m15 chart has formed a HnS pattern, As such we need to look and see if price will revisit the 1708 handle, as such an H1 close below the 1721.85 will then validate the m15s HnS setup, but that dip in price will give us another opportunity to go long, again, idea and bias here isnt to short Gold but rather look for...
Update: Price retested the verhead resistance that we highlighted as the next breakout point and hacs been rejcted, as such the m15 HnS structure busy playing out and another key factor worth considering now is whether the H1 closes below the 1721.85 handle then we will need to exercise a bit more patience and wait for the H4 buy zone, but given the HnS target it may be best to wait for the lower band of the H4 buy Zone

H4 Buy ZOne: 1713.84 - 1710.16....
4&1 All Time Profit: $37,496
  • #4,040
  • Apr 25, 2020 3:39am Apr 25, 2020 3:39am
Quoting MzansiObi
{quote} Update: Price retested the verhead resistance that we highlighted as the next breakout point and hacs been rejcted, as such the m15 HnS structure busy playing out and another key factor worth considering now is whether the H1 closes below the 1721.85 handle then we will need to exercise a bit more patience and wait for the H4 buy zone, but given the HnS target it may be best to wait for the lower band of the H4 buy Zone H4 Buy ZOne: 1713.84 - 1710.16....
Couple of stand out points worth taking seriously...

1. The weekly close, as mentioned, the weekly close above the 1700 handle is a positive for bulls, more so considering the retest/ pullback in price towards the daily buy zone we used to buy dips off of this week at the 1663.60 - 1635.44. Following that retest we managed to clear some key levels (1685 followed by 1697) on an intra day basis, as such price creating a ladder up approach and using former resistance as support with each leg up.

2. Yesterdays price action saw price capped at the next critical level for further continuation, ie that 1735 handle and as such the m15 HnS pattern played out and broke key support at 1721.85 and reached its target which was inside the H4 Buy Zone, and has broken and closed above the 1721.85 handle again, as such the enxt objective becomes to break the most current structural resistance which now lies at the 1635 handle. The weekly open and mondays intra day numbers will give us clarity if we will first tag the 1711ish handle before going up or whether price will continue its overall bullish trend. Bias is to be long on Gold as our D1 structure has us looking for targets above 1800....



Green Pips

Happy Weekend
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4&1 All Time Profit: $37,496
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