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Gold Mining - Using Each Trading Day's Trend

  • #1,621
  • Apr 23, 2020 12:39pm Apr 23, 2020 12:39pm
Quoting QuantaMath
Caution : I am very scare of two candle 1 and 2 they are so similar at the same price level both on tail and both on body H4 time frame {image}
Yeah... Noted. Signals reversal...I entered with a small lot size... When it falls lower, I will load my normal lot size.
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  • #1,622
  • Apr 23, 2020 12:47pm Apr 23, 2020 12:47pm
Quoting QuantaMath
{quote} Great Analysis, I always surprised by your accuracy to finding next price level. Sometimes I think you're a sniper in the market.
thank you sir I literally am stuck to my charts all day lol. No sleep but I am being cautious I am still in my lungs however 1722 was rejected almost immediately. I am thinking this could be possible bear trap
  • #1,623
  • Apr 23, 2020 12:49pm Apr 23, 2020 12:49pm
Attached Image (click to enlarge)
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  • #1,624
  • Apr 23, 2020 12:53pm Apr 23, 2020 12:53pm
if price breaks 1719 which is 4hr trendline support I will close all longs unfortunately that will indicate bears taking over
  • #1,625
  • Apr 23, 2020 1:00pm Apr 23, 2020 1:00pm
Quoting rayoub
{image}
thanks, this is so significant point.
Because of the mixed signals, and I was confused. I lost all of my tp, today, tp - sl = 0
but I am Still Alive and wait for tomorrow and I will wait for extra confirmation to convince me psychologically.
  • #1,626
  • Apr 23, 2020 1:06pm Apr 23, 2020 1:06pm
Quoting QuantaMath
{quote} thanks, this is so significant point. Because of the mixed signals, and I was confused. I lost all of my tp, today, tp - st = 0 but I am Still Alive and wait for tomorrow and I will wait for extra confirmation to convince me psychologically.
I try hard not to watch every minute because the mixed signals as Bitefx had stated awhile ago could cause over analysis which is definitely not good because then you get caught chasing the buy and sell and losing which I have done so many times but we must trust our analysis until it proves wrong. and that is exactly the right thing to do nothing gained but more importantly nothing lost. stay alive and market might give you a clearer picture. the last 4hr candle for gold always seems to surprise even me lol sometimes for the worst.
  • #1,627
  • Apr 23, 2020 1:21pm Apr 23, 2020 1:21pm
Quoting rayoub
{quote} I try hard not to watch every minute because the mixed signals as Bitefx had stated awhile ago could cause over analysis which is definitely not good because then you get caught chasing the buy and sell and losing which I have done so many times but we must trust our analysis until it proves wrong. and that is exactly the right thing to do nothing gained but more importantly nothing lost. stay alive and market might give you a clearer picture. the last 4hr candle for gold always seems to surprise even me lol sometimes for the worst. ...
Thanks , Yes I did over analysis, and over trading. This was an important lesson for me.
  • #1,628
  • Apr 23, 2020 4:36pm Apr 23, 2020 4:36pm
yet another crazy day in Gold trading lol. one hell of a day today. price went all the way up and came all the way back down. important thing to note is gold closed above the trendline I mentioned in yesterday's post which was located around 1715, also closed above daily channel resistance at 1726.50.

I believe we will see bulls take charge for the last trading day of week.
trading ideas would be to put a buy limit at 1719.50, 1722.50, 1726.50 tp at 1750 from most conservative toleast conservative
if bears take price below 1715 I will place sell limit at 1717.50 tp at 1703 extending to 1697 possibly lower to 1688
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  • #1,629
  • Apr 23, 2020 4:43pm Apr 23, 2020 4:43pm
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  • #1,630
  • Apr 23, 2020 6:19pm Apr 23, 2020 6:19pm
Trade Idea for Friday April 24, 2020.
Bullish move continued...
Levels am watching...
A. 1725.75 - Buy limit.
B. 1730.49 - a break above and retest, initiate buy limit.
C. 1738.16 - a break above and retest, initiate buy limit.

If gravity takes over,
A. 1718.08 - a break below and retest, initiate a sell limit.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200423_235453_531.jpg Size: 128 KB
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  • #1,631
  • Apr 23, 2020 6:45pm Apr 23, 2020 6:45pm
Quoting BiteFX
Trade Idea for Friday April 24, 2020. Bullish move continued... Levels am watching... A. 1725.75 - Buy limit. B. 1730.49 - a break above and retest, initiate buy limit. C. 1738.16 - a break above and retest, initiate buy limit. If gravity takes over, A. 1718.08 - a break below and retest, initiate a sell limit. {image}
when our analyses are in agreement as such I see wonders ahead of us today.
  • #1,632
  • Apr 23, 2020 8:00pm Apr 23, 2020 8:00pm
Hi Guys,
H n S on H1 which might play out. Worth considering. If it does we could be heading to 1699.
My thoughts.
Love your work guys.
Julie
  • #1,633
  • Apr 23, 2020 9:04pm Apr 23, 2020 9:04pm
Quoting rayoub
yet another crazy day in Gold trading lol. one hell of a day today. price went all the way up and came all the way back down. important thing to note is gold closed above the trendline I mentioned in yesterday's post which was located around 1715, also closed above daily channel resistance at 1726.50. I believe we will see bulls take charge for the last trading day of week. trading ideas would be to put a buy limit at 1719.50, 1722.50, 1726.50 tp at 1750 from most conservative toleast conservative if bears take price below 1715 I will place sell...
1722.50 was reached I expect a nice rally from this point on, I await market judgement.
  • #1,634
  • Apr 24, 2020 3:22am Apr 24, 2020 3:22am
Morning all, great analysis from all of you.

I am also in a buy mode with Gold as long as it is above 1714. Breaking below makes another scenario.
I have a buy limit at 1724.24/1719.46
TP 1749.64, but 1788.54/1791.07 is also reachable as I mentioned it 2 days ago.
Attached Image
Attached Image
Always expect unexpected.
  • #1,635
  • Apr 24, 2020 4:01am Apr 24, 2020 4:01am
Yesterday I scared about No.2 candle as reversal signal but rayoub artistically recognized that could be a bear trap
Attached Image (click to enlarge)
Click to Enlarge Name: goldh4.png Size: 38 KB

In this morning after review 4H time frame I found some interesting things:
The brown line which is about 1722 is a key level and at left of the chart, most of candles body are inside the rectangle two times tried to move above of the rectangle but both of time, it rejected uniformly and the price stabled inside the rectangle and the down trend started.
On the other side yesterday and today the price try to stable above the brown line
An by looking at the 15M time frame this two day the price try to stable under the daily pivot:1725.34 but after touching 1722 the price reject and move above the 1725
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 49 KB

Everything is possible but It seems that the price could move higher.
  • #1,636
  • Apr 24, 2020 4:04am Apr 24, 2020 4:04am
Quoting likeasunrise
Hi Guys, H n S on H1 which might play out. Worth considering. If it does we could be heading to 1699. My thoughts. Love your work guys. Julie
Yes brother... I took note of it... Its a concern... Well done job
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  • #1,637
  • Apr 24, 2020 4:20am Apr 24, 2020 4:20am
Quoting BiteFX
Trade Idea for Friday April 24, 2020. Bullish move continued... Levels am watching... A. 1725.75 - Buy limit. B. 1730.49 - a break above and retest, initiate buy limit. C. 1738.16 - a break above and retest, initiate buy limit. If gravity takes over, A. 1718.08 - a break below and retest, initiate a sell limit. {image}
A break above 1738.16 will continue antigravity and open us up to 1750.57 and 1770.65 levels.
While a break below 1718.08 will invalidate this move.

Let's Stay Alive guys.
Learn... Work Hard... Trade Alone
  • #1,638
  • Apr 24, 2020 4:26am Apr 24, 2020 4:26am
Quoting rayoub
{quote} when our analyses are in agreement as such I see wonders ahead of us today.
Iron sharpens iron you know...
Learn... Work Hard... Trade Alone
  • #1,639
  • Apr 24, 2020 6:30am Apr 24, 2020 6:30am
We are yet to get to resistance 1738.16
Let's Stay Alive guys.
Attached Image
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  • #1,640
  • Apr 24, 2020 9:16am Apr 24, 2020 9:16am
Market took me out...at S... Chart looking like a double top formation with V2 being the neckline...
Attached Image
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