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Gold Mining - Using Each Trading Day's Trend

  • #1,821
  • May 4, 2020 12:35pm May 4, 2020 12:35pm
1696 acted as support as I thought, if bulls close with price above 1707.50 I can see that becoming support to tackle 1710. and then ultimately go higher.
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  • #1,822
  • May 4, 2020 12:40pm May 4, 2020 12:40pm
Quoting QuantaMath
Hi all The blue trend line 0 was broke and the price is dancing inside a channel between 1 and 1` magenta trend lines. 1- If the price will stay above of the dotted dark magenta line and will break the lemon-colored horizontal trend line at price 1709.36 then the market may has bull potential to break the magenta trend line 1 2- If the price stay below of the dotted dark magenta trend line and will break the orange trend line 2 then the market has a bear potential, and if it well break the green dotted horizontal line near 1691 at below then the...
great analysis brother. as I posted earlier, if you recall your golden trendline from last week on the 4hr, it still came into play rejecting gold nicely at 1714. if bulls manage to break that trendline could possibly become huge support, not expecting it today. however worth noting to watch since we had that same trendline intact
  • #1,823
  • May 4, 2020 1:00pm May 4, 2020 1:00pm
Quoting rayoub
{quote} great analysis brother. as I posted earlier, if you recall your golden trendline from last week on the 4hr, it still came into play rejecting gold nicely at 1714. if bulls manage to break that trendline could possibly become huge support, not expecting it today. however worth noting to watch since we had that same trendline intact
Thanks brother.
Your analysis is so significant. I am agree with you and the golden trend line is a key. I already will not entering the market and just waiting for tomorrow
  • #1,824
  • May 4, 2020 1:07pm May 4, 2020 1:07pm
Quoting QuantaMath
{quote} Thanks brother. Your analysis is so significant. I am agree with you and the golden trend line is a key. I already will not entering the market and just waiting for tomorrow
as am I. I am practicing with my demo account today to build some confidence again. after last week need to be a little more confident in my take profits and stop losses.
  • #1,825
  • May 4, 2020 8:18pm May 4, 2020 8:18pm
Trade Idea for Tuesday May 5, 2020.
With 1709 holding bulls yesterday, I expect gravity today.
Levels am watching...
A. 1716.59 - A break above and continuation validates antigravity
B. 1681.64 - A break below and continuation validates gravity.
C. 1695.65, 1693.63, 1691.64 - A break and retest from below...Sell.

If A. is breached, I will run away alive. Am still with my Friday's sell trades...I hope to come out alive.
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  • #1,826
  • May 4, 2020 9:54pm May 4, 2020 9:54pm
Hey all a little late. but I am also looking at sell limits. possible trade idea is once price breaks 1695 comfortably to place a sell limit at 1695, if it breaks 1685 then potentially 1688 and if it breaks 1680 then a sell limit there as well. For me a a move above 1714.70 would invalidate this and show bulls are taking over.
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  • #1,827
  • May 5, 2020 2:11am May 5, 2020 2:11am
Alright, 1684.93 is a price level to watch out for also...I stay alive.
Chart played a head and shoulders pattern...hmmm
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  • #1,828
  • May 5, 2020 2:16am May 5, 2020 2:16am
Quoting BiteFX
Alright, 1684.93 is a price level to watch out for also...I stay alive. Chart played a head and shoulders pattern...hmmm
May be acting as a support.
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  • #1,829
  • May 5, 2020 2:44am May 5, 2020 2:44am
The price have crossed the orange trend line 2, As expected and it have crossed the trend line 1`, then change the direction inside the channel of trend lines 0 and 0`
If the price cross again and stable under the green dotted horizontal trend line then expectantly it will meet the next level remarked by BiteFx and rayoub.
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  • #1,830
  • May 5, 2020 2:49am May 5, 2020 2:49am
Quoting BiteFX
Trade Idea for Tuesday May 5, 2020. With 1709 holding bulls yesterday, I expect gravity today. Levels am watching... A. 1716.59 - A break above and continuation validates antigravity B. 1681.64 - A break below and continuation validates gravity. C. 1695.65, 1693.63, 1691.64 - A break and retest from below...Sell. If A. is breached, I will run away alive. Am still with my Friday's sell trades...I hope to come out alive. {image}
Great analysis as always.
Agree with you, for A (if 1716.59 (my 1713.03) is broken and retested it will become support and price will move higher) and B.
Always expect unexpected.
  • #1,831
  • May 5, 2020 2:58am May 5, 2020 2:58am
I am watching 1688.08 (50.0% YS)
I'm expecting price will find support there and bulls will bring price up to 1713.03, so if price finds support at 1688.08 I'm in with the bulls.

Possible struggle between bulls and bears around 1713.03. We have weekly 76.4% fibo resistance and day 61.8% fibo support at the same line.
If 1713.03 becomes support, bulls will bring price higher to 1725.28/1729.86
Otherwise, down to 1702.62.
Then I will see what happens next.
If price doesn't hold 1688.08, down to 1675.38
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Always expect unexpected.
  • #1,832
  • May 5, 2020 3:17am May 5, 2020 3:17am
1707.29 acting resistance function beautifully...am still expecting gravity.
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  • #1,833
  • May 5, 2020 4:54am May 5, 2020 4:54am
Gold eyeing 1658.75...If it takes it today Sote, If it doesn't Sote.
Either way, I am coming out alive.
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  • #1,834
  • May 5, 2020 5:01am May 5, 2020 5:01am
Quoting BiteFX
Gold eyeing 1658.75...If it takes it today Sote, If it doesn't Sote. Either way, I am coming out alive.
I've held Friday's sell positions till now...market has turned me into a full fledged positional trader.
Interesting!!! Hmmm
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  • #1,835
  • May 5, 2020 6:13am May 5, 2020 6:13am
I'm expecting for price to find resistance at 1700.00, so sell there with TP 1688.08, where is also my buy order.
Always expect unexpected.
  • #1,836
  • May 5, 2020 7:25am May 5, 2020 7:25am
Quoting Skoljkica
I'm expecting for price to find resistance at 1700.00, so sell there with TP 1688.08, where is also my buy order.
I'm in! Want to see 1688.08
Attached Image
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  • #1,837
  • May 5, 2020 7:52am May 5, 2020 7:52am
Quoting Skoljkica
{quote} I'm in! Want to see 1688.08 {image}
Welcome...
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  • #1,838
  • May 5, 2020 8:31am May 5, 2020 8:31am
still waiting to see if bears can break 1692-1695 area.
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  • #1,839
  • May 5, 2020 8:37am May 5, 2020 8:37am
battle seems to be taking place between 1695 and 1699.50, bulls are defending the lower end of 1690s . I am monitoring closely because 1692 has acted as support beautifully. if bulls can close 4hr and hr above 1701 we may see 1701. 1699 become support
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  • #1,840
  • May 5, 2020 8:49am May 5, 2020 8:49am
Quoting rayoub
battle seems to be taking place between 1695 and 1699.50, bulls are defending the lower end of 1690s . I am monitoring closely because 1692 has acted as support beautifully. if bulls can close 4hr and hr above 1701 we may see 1701. 1699 become support {image}
Chart looking an inverse head and shoulders pattern...Hmmm
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