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Gold Mining - Using Each Trading Day's Trend

  • #1,581
  • Apr 22, 2020 2:49am Apr 22, 2020 2:49am
Quoting rayoub
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...
I like your analysis. Great!
Always expect unexpected.
  • #1,582
  • Apr 22, 2020 3:00am Apr 22, 2020 3:00am
Morning all. Great analysis there!

Today bulls are taking over the market.
I placed my buy order at 1689.44, but price could also go down to 1682.60 or even lower to 1672.81 I will wait and see with my entry.

Until the end of the week up to 1788.54/1791.07 Any thoughts on that?

Attached Image
Attached Image
Always expect unexpected.
  • #1,583
  • Apr 22, 2020 3:09am Apr 22, 2020 3:09am
Quoting Skoljkica
Morning all. Great analysis there! Today bulls are taking over the market. I placed my buy order at 1689.44, but price could also go down to 1682.60 or even lower to 1672.81 I will wait and see with my entry. Until the end of the week up to 1788.54/1791.07 Any thoughts on that? {image}{image}
Agree with you... I jumped out of the sell with a loss... Now am with the buy... Downward slope trend line broken upwards.
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  • #1,584
  • Apr 22, 2020 3:15am Apr 22, 2020 3:15am
Quoting BiteFX
{quote} Agree with you... I jumped out of the sell with a loss... Now am with the buy... Downward slope trend line broken upwards. {image}
We stay alive
Always expect unexpected.
  • #1,585
  • Apr 22, 2020 3:27am Apr 22, 2020 3:27am
Quoting Skoljkica
{quote} We stay alive
Learn... Work Hard... Trade Alone
  • #1,586
  • Apr 22, 2020 3:29am Apr 22, 2020 3:29am
I expect a retest of 1690 again before antigravity...
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  • #1,587
  • Apr 22, 2020 3:34am Apr 22, 2020 3:34am
Quoting BiteFX
I expect a retest of 1690 again before antigravity...
That would be nice
Always expect unexpected.
  • #1,588
  • Apr 22, 2020 4:36am Apr 22, 2020 4:36am
waiting for 1690 too to go long =D
  • #1,589
  • Apr 22, 2020 5:20am Apr 22, 2020 5:20am
Quoting Skoljkica
{quote} We stay alive
my stop loss was moved down to 1692 which got hit. Cant win em all lol. I am awaiting a retest of 1689-1690 to go long as well. we stay alive!... and great analysis bite and Skol. bulls swim to have regained control at around that 1680-1682 level. 1718+ expected
  • #1,590
  • Apr 22, 2020 5:25am Apr 22, 2020 5:25am
Quoting rayoub
{quote} my stop loss was moved down to 1692 which got hit. Cant win em all lol. I am awaiting a retest of 1689-1690 to go long as well. we stay alive!... and great analysis bite and Skol. bulls swim to have regained control at around that 1680-1682 level. 1718+ expected
Agree. This is like a movie 18+
Patience is the key.
Always expect unexpected.
  • #1,591
  • Apr 22, 2020 9:21am Apr 22, 2020 9:21am
Quoting Skoljkica
{quote} Agree. This is like a movie 18+ Patience is the key.
on my weekly I am seeing gold eyeing 1750 possibly higher as well.
  • #1,592
  • Edited 9:57am Apr 22, 2020 9:25am | Edited 9:57am
1711.10 acting resistance function at the moment... Around the neckline of last week's double top sell off.
Am watching you gold.
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  • #1,593
  • Apr 22, 2020 9:26am Apr 22, 2020 9:26am
Quoting BiteFX
1711.10 acting resistance function at the moment... Around the neckline of last week's double sell off. Am watching you gold.
If it becomes support, then a new all time high is underway.
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  • #1,594
  • Apr 22, 2020 10:11am Apr 22, 2020 10:11am
Quoting BiteFX
{quote} If it becomes support, then a new all time high is underway.
I was thinking the exact same thing that 1710 was out neckline of that hns on the 4hr that had taken it all the way back down to 1682. it is acting as a pretty good resistance so far. If bulls can maintain above 1710 level I believe we will see 1718 as first resitance then possibly extended to 1727 ,but am watching as well. I still agree with what you said earlier though Bitefx gold broke out of its downward slope channel however may still need to retest this from outside which would be 1688.50-1689.
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  • #1,595
  • Apr 22, 2020 10:19am Apr 22, 2020 10:19am
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  • #1,596
  • Apr 22, 2020 2:31pm Apr 22, 2020 2:31pm
Gold reached 1718 and was rejected nicely back to 1711 neckline support I expect gold to now try 1725-1727 where my daily and 4h,h resistance are
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  • #1,597
  • Apr 22, 2020 4:13pm Apr 22, 2020 4:13pm
Quoting rayoub
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...
So seems our buy analysis for yesterday was correct. bulls penetrated 1703 came back to find support at around 1693 and shot up to our first tp of 1715 it then found support at 1710 and went to 1718 which was a resistance on almost all Tfs. double top was rejected at 1718. Trade ideas for tomorrow is

A. If bulls manage to continue there push up, I would wait for a break of 1722 to initate a buy limit at 1718 tp1 1727 tp2 1735, more conservative would be buy limit at 1714.50 once bulls confirm agenda.
B. 1718-1719 is a strong resistance, if bears can go below 1706, then I would put a sell limit at 1711 tp1 1689 tp2 1684, more conservative would be to wait for bears to pierce 1703 before placing sell limit.
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  • #1,598
  • Apr 22, 2020 4:28pm Apr 22, 2020 4:28pm
Not to blow up the forum with photos but also of importance is this weekly trendline that I've been monitoring which has the resistance exactly at 1715 where we currently are.
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  • #1,599
  • Apr 22, 2020 4:36pm Apr 22, 2020 4:36pm
Quoting rayoub
Not to blow up the forum with photos but also of importance is this weekly trendline that I've been monitoring which has the resistance exactly at 1715 where we currently are. {image} {image}
That is what makes the analysis more meaningful.
Good job.
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  • #1,600
  • Apr 22, 2020 4:46pm Apr 22, 2020 4:46pm
Trade idea for Thursday April 23, 2020.
Bullish move seem to be set for a runaway.
I will be looking to buy retracements.

Levels am watching...Buy limits at
A. 1709.22 - less conservative
B. 1703.67 - conservative
C. 1699.19 - more conservative

I Stay Alive.
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