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Gold Mining - Using Each Trading Day's Trend

  • #1,681
  • Apr 27, 2020 9:36am Apr 27, 2020 9:36am
wow bears really took that advantage to running straight to 1706.
  • #1,682
  • Apr 27, 2020 10:06am Apr 27, 2020 10:06am
Gravity is upon us... We're expecting a pull back to 1719.08... There I will short the market.
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  • #1,683
  • Apr 27, 2020 10:07am Apr 27, 2020 10:07am
Quoting BiteFX
Gravity is upon us... We're expecting a pull back to 1719.08... There I will short the market. {image}
For today only... But, if parameters brings that level up tomorrow, then tomorrow also.
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  • #1,684
  • Apr 27, 2020 10:27am Apr 27, 2020 10:27am
Quoting BiteFX
{quote} For today only... But, if parameters brings that level up tomorrow, then tomorrow also.
oh my I couldn't agree with you more I took my sells out with profit replaced a sell at 1719. although not recommended I also put a buy in from 1712 to 1719
  • #1,685
  • Apr 27, 2020 10:33am Apr 27, 2020 10:33am
Quoting rayoub
{quote} oh my I couldn't agree with you more I took my sells out with profit replaced a sell at 1719. although not recommended I also put a buy in from 1712 to 1719
Nice calculation... But that buy...Hmmm...perhaps you might have seen something... Let the market judge you bro.
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  • #1,686
  • Apr 27, 2020 4:36pm Apr 27, 2020 4:36pm
So yesterday was an eventful day. Bears defended the 1727.50 level as we expected and took price all the way down to 1706, where bulls stepped back in. trade ideas for romorrow
I believe we will see a pull back to 1723.50 area. I have attached pics as always to show my train of thought.

Bears should continue there gravity downwards, so I am looking for a sell limit at 1723, 1719, 1716.40 (only if bears take price below 1710 again) tp1 1703.50 tp2 1698 tp3 1680

If bulls can take price back above 1725-1727 comfortably, I will be looking for a buy limit at 1719, 1723.50 tp1 1735 tp2 1743 tp3 1758

I will post more pics once son is asleep lol
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  • #1,687
  • Apr 27, 2020 5:57pm Apr 27, 2020 5:57pm
Trade idea for Tuesday April 28, 2020.
Gravity continues...Levels am watching...
A. 1721.03, 1719.24 - Sell limit
B. 1716.66, 1714.16 - Sell limit
C. 1727.45 - a break and retest from above invalidates gravity and reestablishes antigravity.
D. 1706.12, 1704.15 - a break and retest from below establishes gravity... But a break below and back above steadily, reestablishes antigravity.

We Stay Alive.
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  • #1,688
  • Apr 28, 2020 12:31am Apr 28, 2020 12:31am
Quoting BiteFX
Trade idea for Tuesday April 28, 2020. Gravity continues...Levels am watching... A. 1721.03, 1719.24 - Sell limit B. 1716.66, 1714.16 - Sell limit C. 1727.45 - a break and retest from above invalidates gravity and reestablishes antigravity. D. 1706.12, 1704.15 - a break and retest from below establishes gravity... But a break below and back above steadily, reestablishes antigravity. We Stay Alive. {image}
This is gravity....was expecting a retest of my B. Entries, but market ran away... Ain't chasing it. We meet again.

Price steady below D. with impulse candles, we sell retest of these levels...
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  • #1,689
  • Apr 28, 2020 12:44am Apr 28, 2020 12:44am
Quoting BiteFX
{quote} This is gravity....was expecting a retest of my B. Entries, but market ran away... Ain't chasing it. We meet again. Price steady below D. with impulse candles, we sell retest of these levels... {image}
This is what typically happens when two(2) days low is broken with an impulse wave... It's a strong gravitational pull.
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  • #1,690
  • Apr 28, 2020 12:55am Apr 28, 2020 12:55am
In Bullion Trading, there is no concept of Gravity and anti gravity. We are in markets and market behave as per Geopolitical and Economic parameter not at Newton`s gravity. It will be more relevant if we refer market condition which will be more convincing. Like now gold price is coming down because a lot of countries started to remove lock down.
  • #1,691
  • Apr 28, 2020 1:17am Apr 28, 2020 1:17am
Quoting Nanotech
In Bullion Trading, there is no concept of Gravity and anti gravity. We are in markets and market behave as per Geopolitical and Economic parameter not at Newton`s gravity. It will be more relevant if we refer market condition which will be more convincing. Like now gold price is coming down because a lot of countries started to remove lock down.
that is a more fundamental way of trading am I wrong ? to assume gold is dropping because of lockdowns being eased?. In March Gold dropped, and one can say because cash was king etc, but then we are just making excuses other than trend as to why market is reacting. Gold is dropping because it has hit key resistances and so technically speaking it was time for it to drop..
  • #1,692
  • Apr 28, 2020 1:22am Apr 28, 2020 1:22am
1695 level worth watching,. Bulls have reacted promptly to 1692 where my trendline support is, possible we will see a shift in dynamics if bulls can defend the 1695 area. if not then possible sell limit at 1696 once this level has been broken downwards nicely
  • #1,693
  • Apr 28, 2020 1:24am Apr 28, 2020 1:24am
Quoting rayoub
{quote} that is a more fundamental way of trading am I wrong ? to assume gold is dropping because of lockdowns being eased?. In March Gold dropped, and one can say because cash was king etc, but then we are just making excuses other than trend as to why market is reacting. Gold is dropping because it has hit key resistances and so technically speaking it was time for it to drop..

I am agree with you. This is the perfect reason for drop of gold.
  • #1,694
  • Apr 28, 2020 1:26am Apr 28, 2020 1:26am
Quoting Nanotech
In Bullion Trading, there is no concept of Gravity and anti gravity. We are in markets and market behave as per Geopolitical and Economic parameter not at Newton`s gravity. It will be more relevant if we refer market condition which will be more convincing. Like now gold price is coming down because a lot of countries started to remove lock down.
Thanks Nanotech for the observation ...the more appropriate terms here would be "thrust, downward move, or fall and the rest..." granted.
I am a pure chart technician, when fundamentals come in, I see it on my chart.

"Gravity or Antigravity" is just my own way of expressing my views on the market. It doesn't in any way change the Basic Chart Analysis Concepts as written by Professional Chart Technicians among others that I've read.
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  • #1,695
  • Apr 28, 2020 1:35am Apr 28, 2020 1:35am
Quoting rayoub
1695 level worth watching,. Bulls have reacted promptly to 1692 where my trendline support is, possible we will see a shift in dynamics if bulls can defend the 1695 area. if not then possible sell limit at 1696 once this level has been broken downwards nicely
Yes Rayoub, I agree... But, am also looking out for a retest of these weekly levels I mentioned on Monday and today... 1706.12 and 1704.05 to sell from there.
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  • #1,696
  • Apr 28, 2020 1:36am Apr 28, 2020 1:36am
Quoting BiteFX
{quote} Thanks Nanotech for the observation ...the more appropriate terms here would be "thrust, downward move, or fall and the rest..." granted. I am a pure chart technician, when fundamentals come in, I see it on my chart. "Gravity or Antigravity" is just my own way of expressing my views on the market. It doesn't in any way change the Basic Chart Analysis Concepts as written by Professional Chart Technicians among others that I've read.
Dear BiteFx

You are expert. There is no any doubt about it. I always follow your analysis. Please carry on as per your own words.
  • #1,697
  • Apr 28, 2020 1:39am Apr 28, 2020 1:39am
Quoting BiteFX
{quote} Yes Rayoub, I agree... But, am also looking out for a retest of these weekly levels I mentioned on Monday and today... 1706.12 and 1704.05 to sell from there.
I have a sell limit placed there as well. Just like to play devils advocate at times to see possible price moves to come, although 4hr, hr all are experiencing downwards trend, daily is still in its uptrend, 1695 is perfect support for this structure. just something to watch. I got in front of a moving train as you all say so am just going to ride it back to hopefully 1706 where I will reassess depending how strongly bulls attack this level. i didn't anticipate the drop to be continuous lol
  • #1,698
  • Apr 28, 2020 1:42am Apr 28, 2020 1:42am
Quoting BiteFX
{quote} Yes Rayoub, I agree... But, am also looking out for a retest of these weekly levels I mentioned on Monday and today... 1706.12 and 1704.05 to sell from there.
1709.43 inclusive...its an intraday level. I will sell if it retraces here too.
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  • #1,699
  • Apr 28, 2020 1:43am Apr 28, 2020 1:43am
Quoting Nanotech
{quote} Dear BiteFx You are expert. There is no any doubt about it. I always follow your analysis. Please carry on as per your own words.
... Am humbled.
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  • #1,700
  • Apr 28, 2020 1:46am Apr 28, 2020 1:46am
Quoting rayoub
{quote} I have a sell limit placed there as well. Just like to play devils advocate at times to see possible price moves to come, although 4hr, hr all are experiencing downwards trend, daily is still in its uptrend, 1695 is perfect support for this structure. just something to watch. I got in front of a moving train as you all say so am just going to ride it back to hopefully 1706 where I will reassess depending how strongly bulls attack this level. i didn't anticipate the drop to be continuous lol
That spirit is needed very much...am with you on that term.
Because, too much caution you loose your entry, then, no caution you loose your money. This is not Sote.
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