Gold Mining - Using Each Trading Day's Trend

Quoting BiteFX

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Market at 1666.00 at the moment... A break below will open us up to 1645.00 level... I stay alive.

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Quoting Skoljkica

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If price breaks 1682.60 upwards, then up to 1692.23/1698.42 and sell to 1664.90

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Quoting Skoljkica

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{quote} If 1664.90 holds, up to 1682.60 Otherwise, down to 1647.20/1631.38 1682.60 or 1687.00 could act as a resistance and move price down to 1647.20/1631.38 {image}

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Quoting Skoljkica

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{quote} Price broke 1682.60 and hit 1692.23 (beauty of pattern) {quote} 1664.90 held and price hit 1682.60. Let's see is it going to be support or resistance. {image}

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Quoting BiteFX

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{quote} What pattern are you talking about brother?

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Quoting Skoljkica

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{quote} My Fibo lines

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Quoting rayoub

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today was a crazy day for gold. it did however still respect my analysis. bulls tried 1697.50 and were rejected down to 1659.75 where my daily channel support kicked in and almost immediately knocked price back to where it started. So attached are some charts to support my analysis as always. trade ideas are a. if bears can drive price back below 1675 then a sell limit at 1682.50 tp1 at 1647 tp2 at 1642 more conservative is 1688.50 with same tps. b. if bulls take price back above 1703 then a buy limit at 1697.50 tp1 1715 tp2 1721 more conservative...

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Quoting QuantaMath

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After the last post of rayoub on my chart, rayoub persuaded me to study the daily chart, and I learned, why I should consider points A, B and the trend line like the orange one which shaped by A and B even after it has broken. As the movement of yesterday, the price hit the orange line again. and maybe it acts as a pullback to move higher or the orange trend line will act as support line in the current down move. D1 Chart {image} H4 Chart with more details {image}

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Quoting rayoub

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{quote} Great analysis sir. Glad you are learning with me as I am learning with you. I've found trend lines are important regardless how long ago they may have been broken or started when it shows up on your chart again gives you an idea of where price tends to find support./resistance sometimes it is not a definitive level as people like to think (i.e one day it may be 1661 the next 1662 then 1664 etc.) but we learn everyday.

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Quoting BiteFX

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Trade Idea for Wednesday April 22, 2020. Chart showing a downward slope. Ranging downwards. Levels am watching... 1700... A break above continues the bullish run (antigravity) . 1695...A retest may send price lower...a breakout upward continues antigravity. 1675... A break below and retest exposes us to 1660 1660... A break below continues the bearish run(gravity) Trade idea... A. Sell limit 1675 B. 1660... Or Buy limit at 1680 {image}

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Quoting QuantaMath

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{image} After the price was pushing down to 1661 the points 0 and 0` has shaped micro double bottom and its neckline is the white thick horizontal line. And after that, the price moved up to 1691.55, point 1 but after touching the micro double bottom`s neckline the price pushed up again to point 2, and it seems it is a double top with the shared neckline of the last double bottom the thick white horizontal trend line. But I learned in this forum about the pivot, I found that if the price is stable above the daily pivot line the probability is high...

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Quoting BiteFX

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{quote} Always bring the analysis in like this or more... You're nailing it rightly brother. Great job!

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Quoting rayoub

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{quote} Great analysis sir. Glad you are learning with me as I am learning with you. I've found trend lines are important regardless how long ago they may have been broken or started when it shows up on your chart again gives you an idea of where price tends to find support./resistance sometimes it is not a definitive level as people like to think (i.e one day it may be 1661 the next 1662 then 1664 etc.) but we learn everyday.

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Quoting BiteFX

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{quote} haven't broken the high of yesterday hanging around 1695, had a retracement at 1690 today. And chart sloping downwards, may come in to drive price lower to 1675 first.

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Quoting Mostafamu

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Hi bite fx and you too skoljkica i know that this thread isnt the right place for such questions but i dont know anyone else in this forum execpt both of you and i know that both of you trade using ic markets and forex.com so i need to ask about do you know any broker that using ecn / stp ( on spot forex ) trading system not cfds because i have some religion issues with cfds

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