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Gold Mining - Using Each Trading Day's Trend

  • #1,761
  • Apr 30, 2020 5:26am Apr 30, 2020 5:26am
Quoting Skoljkica
{quote} Bulls and bears still fighting between 1714.77 and 1716.21 I'm out with the previous trade with 30 pip profit, now waiting for new opportunity if bulls manage to take over the market.
EA activated at 1716.21.
TP the same, SL tight.
I stay alive.
Attached Image
Always expect unexpected.
  • #1,762
  • Apr 30, 2020 6:30am Apr 30, 2020 6:30am
Quoting Skoljkica
{quote} Bulls and bears still fighting between 1714.77 and 1716.21 I'm out with the previous trade with 30 pip profit, now waiting for new opportunity if bulls manage to take over the market.
Well done Skoljkica
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  • #1,763
  • Apr 30, 2020 6:34am Apr 30, 2020 6:34am
Sell limit 1716.96... are coming into the market gradually.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200430_123341_332.jpg Size: 83 KB
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  • #1,764
  • Apr 30, 2020 6:44am Apr 30, 2020 6:44am
Quoting BiteFX
Trade idea for Thursday April 30, 2020. Levels am watching for the last trading day of this month. A. 1712.07 - Sell B. 1709.41 - Sell C. 1706.89 - Sell D. 1704.70 - Sell {image}
I later had to run away alive from this trades o...When I saw stubborn bulls about to eat me alive.
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  • #1,765
  • Apr 30, 2020 6:51am Apr 30, 2020 6:51am
Quoting BiteFX
Sell limit 1716.96... are coming into the market gradually. {image}
Activated... I await market judgement at 1722.95.
At that point, I know my trade entry and idea for today was wrong.
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  • #1,766
  • Apr 30, 2020 7:09am Apr 30, 2020 7:09am
Quoting BiteFX
Sell limit 1716.96... are coming into the market gradually. {image}
1709.41 is now a major challenge for the if they can't break that level downward, I will come out alive.
If they do... Sote
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  • #1,767
  • Apr 30, 2020 7:11am Apr 30, 2020 7:11am
Quoting BiteFX
{quote} 1709.41 is now a major challenge for the if they can't break that level downward, I will come out alive. If they do... Sote
Agree with you.
Also 1611.72 can act as a support but due to upcoming news price could easily go to 1709.24 until I write this.
I still have my buy order at 1716.21 and I'm in and out with the market.
If price goes in my direction, I will close it at 1724, price could find resistance there.
Always expect unexpected.
  • #1,768
  • Apr 30, 2020 7:43am Apr 30, 2020 7:43am
Wow, what a drop!
1709.24 couldn't hold it.
Always expect unexpected.
  • #1,769
  • Apr 30, 2020 7:48am Apr 30, 2020 7:48am
Quoting BiteFX
Trade idea for Thursday April 30, 2020. Levels am watching for the last trading day of this month. A. 1712.07 - Sell B. 1709.41 - Sell C. 1706.89 - Sell D. 1704.70 - Sell {image}
Congratulation
  • #1,770
  • Apr 30, 2020 7:50am Apr 30, 2020 7:50am
Quoting BiteFX
{quote} 1709.41 is now a major challenge for the if they can't break that level downward, I will come out alive. If they do... Sote
Alright broken, Sell limit at 1709.41...I stay alive
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  • #1,771
  • Apr 30, 2020 7:59am Apr 30, 2020 7:59am
Quoting BiteFX
{quote} Alright broken, Sell limit at 1709.41...I stay alive
1712.95 also... probably ???
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  • #1,772
  • Apr 30, 2020 9:32am Apr 30, 2020 9:32am
A new lesson of today that market tough me with punishment
market could be very brutal if do not listen to the sign of price action

Today is the third time of the last two week I recognized the important signal from price action but I did not listen to them and then the market kick off me.
The last one is the cross of red line and prevent to cross blue line 2.

Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 58 KB


By the Great Analysis of BiteFX and since the price crossed the thick golden line I am in the side of BiteFx, if the market let me in by completing the pullback.



I'm reading a book about the market volatility. The first chapter of this book is There is NO Holy Grail
But I believe there is a Holy Grail in the market. The Holy Grail in the market is stop loss, Which let us to Stay Alive
  • #1,773
  • Apr 30, 2020 10:34am Apr 30, 2020 10:34am
Quoting QuantaMath
A new lesson of today that market tough me with punishment market could be very brutal if do not listen to the sign of price action Today is the third time of the last two week I recognized the important signal from price action but I did not listen to them and then the market kick off me. The last one is the cross of red line and prevent to cross blue line 2. {image} By the Great Analysis of BiteFX and since the price crossed the thick golden line I am in the side of BiteFx, if the market let me in by completing the pullback. I'm...
Brother, market is always teaching us lessons.
And what happened today will happen again may be next month, or 2 or 3 months time.

Price is the ultimate indicator...Stop loss is the Holy Grail(I love that your statement brother)

We Stay Alive always.
Learn... Work Hard... Trade Alone
  • #1,774
  • Apr 30, 2020 12:59pm Apr 30, 2020 12:59pm
sorry for not posting you guys, stupidly stupidly left my trades with no sl last night and woke up to great empty account today. I am with you Quantamath I have done this several times but the lesson which bitefx has shown is to always use a stoploss and to allow the trade to either hit the stop loss or take profit. I am reading trend following, pretty old book but good nonetheless, it says traders learn more from their losses then their gains. we must look at these as lessons not deterrents from the market.

the trendline that gold had been following on the 4hr was finally broken with that last 4hr candle and so this 4hr tried it from bottom and was rejected. thoughts are sell limit at 1693 tp at 1678. last trade of the day. very tight sl 1697.
  • #1,775
  • Apr 30, 2020 1:00pm Apr 30, 2020 1:00pm
Attached Image (click to enlarge)
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  • #1,776
  • Apr 30, 2020 4:48pm Apr 30, 2020 4:48pm
Okay so now that emotions have been cleared lol back to clear head analysis. I was sadly mistaken thinking monthly candle and weekly candle would both close tomorrow but I was wrong did not realize today was end of month that changed a lot. So I've attached pictures. Monthly resistance of my trendline was 1721( would have been good to know month was closing last night so I could have shorted ). Anyways trade ideas for tomorrow is as follows.

4hr trendline as well as daily trendline was broken on my charts so I am bias towards bears controlling the rest of tomorrow.
I am looking for sell limits at 1706.40, 1703.45, 1693.45.
sl will be 1713 for all. tp1 1675 tp2 1665 tp3 1657

if bulls defend 1680 as they have been doing and get price back above 1713 then I will look for buy limits at 1710.50, 1706.40, 1704.50
sl 1698 for all tp1 1723.50 tp2 1727.50 tp3 1735
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  • #1,777
  • Apr 30, 2020 5:00pm Apr 30, 2020 5:00pm
Trade idea for Friday May 1, 2020.
Levels am watching...
A. 1700.37, 1699.45, 1698.42 - Sell
B. 1709.78, 1709.25 - Sell
C. 1691.50, 1689.70 - Sell
D. 1681.21 - A break and retest from below, Sell.

*Expecting a bullish pull back.*

Happy New Month folks... We Stay Alive
Attached Image(s) (click to enlarge)
Click to Enlarge Name: IMG_20200430_223852_756.jpg Size: 86 KB
Click to Enlarge Name: IMG_20200430_224709_804.jpg Size: 112 KB
Learn... Work Hard... Trade Alone
  • #1,778
  • Apr 30, 2020 6:14pm Apr 30, 2020 6:14pm
Quoting BiteFX
Trade idea for Friday May 1, 2020. Levels am watching... A. 1700.37, 1699.45, 1698.42 - Sell B. 1709.78, 1709.25 - Sell C. 1691.50, 1689.70 - Sell D. 1681.21 - A break and retest from below, Sell. *Expecting a bullish pull back.* Happy New Month folks... We Stay Alive {image} {image}
great analysis brother. gold has been a rocky road this week lol
  • #1,779
  • Edited 2:04am May 1, 2020 1:14am | Edited 2:04am
Quoting BiteFX
Trade idea for Friday May 1, 2020. Levels am watching... A. 1700.37, 1699.45, 1698.42 - Sell B. 1709.78, 1709.25 - Sell C. 1691.50, 1689.70 - Sell D. 1681.21 - A break and retest from below, Sell. *Expecting a bullish pull back.* Happy New Month folks... We Stay Alive {image} {image}
WOW! Market continued gravity with C and D. I was expecting A in particular... This is Forex men... Anything is possible!
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  • #1,780
  • May 1, 2020 1:18am May 1, 2020 1:18am
1671.21 and 1675.98 acting support function... We get to meet these levels again...
For those of us who slept too long gold might give us a reentry at these C and D level again... Just thinking about it.
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