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4 + 1 (Metals) strategy

  • #4,121
  • May 12, 2020 12:48am May 12, 2020 12:48am
Quoting MzansiObi
{quote} Trail stop in place now at 1698.51 Will keep recycling and buying the D1 buy Zone dips, smaller lot sizes with caution till such a point we break and clear the upper resistance of the falling wedge on the D1 chart and the H1 and H4 flip back bullish.......
H1 wedge chart depiction
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH1_LI.jpg Size: 1.0 MB
4&1 All Time Profit: $37,496
  • #4,122
  • May 12, 2020 2:40am May 12, 2020 2:40am
Quoting MzansiObi
{quote} Trail stop in place now at 1698.51 Will keep recycling and buying the D1 buy Zone dips, smaller lot sizes with caution till such a point we break and clear the upper resistance of the falling wedge on the D1 chart and the H1 and H4 flip back bullish.......
Trailing stop taken out, price now trading above the H1 200 price handle and as such should current H1 close bullish, will look to buy the a retest of 1702.84 and look for the next set of upside targets....

Green Pips
4&1 All Time Profit: $37,496
  • #4,124
  • May 12, 2020 10:17am May 12, 2020 10:17am
Update:

Taking partial profits from the buy order and adjusting stops to entry at that 1702.84 handle....
price still no bearish RSI divergence on H1 as such will continue looking for buy dip
4&1 All Time Profit: $37,496
  • #4,125
  • May 13, 2020 1:54am May 13, 2020 1:54am
13 May 2020



Price is consolidating still, although bullish for the previous day, we continue to see rejections from the bottom, and this sideways consolidation has resulted in the H1 and H4 zones being somewhat flat and neutral, the outlook remains the same till we get a breakout, to continue buying those D1 zone dips.
There is some concern on the H1 chart as price seems to have formed a HnS chart with the right shoulder coming in at yesterdays high, as such an H1 break and close below 1692.34 will expose us into the deeper end of that D1 buy zone, while we are in an overall Bullish pattern on the Daily chart, the smaller time frames will form some inside patterns to provide for some volatility for intra day trading....


H1: Bullish to flat.
H4: Flat
D1: Bullish and Buy Zone: 1698.21 - 1683.17


Intra Day Levels
Upside
1724.59
1719.29
1712.78
1708.76
1704.42

Downside
1702.38
1695.74
1691.72
1685.21
1682.36




Green Pips
4&1 All Time Profit: $37,496
  • #4,126
  • May 13, 2020 7:19am May 13, 2020 7:19am
Quoting MzansiObi
13 May 2020 Price is consolidating still, although bullish for the previous day, we continue to see rejections from the bottom, and this sideways consolidation has resulted in the H1 and H4 zones being somewhat flat and neutral, the outlook remains the same till we get a breakout, to continue buying those D1 zone dips. There is some concern on the H1 chart as price seems to have formed a HnS chart with the right shoulder coming in at yesterdays high, as such an H1 break and close below 1692.34 will expose us into the deeper end of that D1 buy zone,...
Update: we have been rejected at the bottom, and retesting the top of that range....as mentioned previously, would like to see a clear break in either side to get price going again
4&1 All Time Profit: $37,496
  • #4,127
  • May 13, 2020 8:58am May 13, 2020 8:58am
Update: current H1 candle outlining the most current range....extremists on this candle marking new range.....patience


H1 buy zone beginning to slip aswell as such but dip continues...
4&1 All Time Profit: $37,496
  • #4,128
  • May 13, 2020 1:18pm May 13, 2020 1:18pm
Update: Inability to get an H1 close above the 1711/12 handle is a bit of a concern for now, the handle has been resisted a couple of times leading up to the most recent rally, and while the new range has been outlined, the most obvious point of concern becomes price action failing to push on, and as such, a new range opening up.... By trailing and taking partial profit, one runs the the trade more risk free...Green Pips
4&1 All Time Profit: $37,496
  • #4,129
  • May 13, 2020 1:24pm May 13, 2020 1:24pm
Quoting MzansiObi
Update: Inability to get an H1 close above the 1711/12 handle is a bit of a concern for now, the handle has been resisted a couple of times leading up to the most recent rally, and while the new range has been outlined, the most obvious point of concern becomes price action failing to push on, and as such, a new range opening up.... By trailing and taking partial profit, one runs the the trade more risk free...Green Pips
Visual Representation of the significance of the level(red circels with arrows)
And the blue lines depicting the wedge pattern we mentioned and outlined a couple of sessions ago, well worth noting is how the current resistance point is near that wedge resistance and as such, confluence supporting the importance of the break and close of the H1 at current level as it would open us up to sub 1800 price handles, but as has become the them of trading Gold this entire week, patience is important.


Green Pips
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH113May_LI.jpg Size: 933 KB
4&1 All Time Profit: $37,496
  • #4,130
  • May 13, 2020 9:31pm May 13, 2020 9:31pm
Update:
First retest of the H1 Buy Zone, and now while price did go on and break out higher, we have failed to stay above the wedge pattern resistance point at that point A, ideally, wouldve like to see price rally abit further and retest the area as a support handle, however, so long as the 1 remains bullish and upward sloping, there remains enough PROBABILITY for price to behave in that manner.....patience becomes key yet again...


Green Pips....
4&1 All Time Profit: $37,496
  • #4,131
  • May 13, 2020 9:33pm May 13, 2020 9:33pm
Quoting MzansiObi
Update: First retest of the H1 Buy Zone, and now while price did go on and break out higher, we have failed to stay above the wedge pattern resistance point at that point A, ideally, wouldve like to see price rally abit further and retest the area as a support handle, however, so long as the 1 remains bullish and upward sloping, there remains enough PROBABILITY for price to behave in that manner.....patience becomes key yet again... Green Pips....
Associated chart
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH1_LI.jpg Size: 762 KB
4&1 All Time Profit: $37,496
  • #4,132
  • May 13, 2020 10:40pm May 13, 2020 10:40pm
Pending buy order

1710.79
SL 1698
TP Open
4&1 All Time Profit: $37,496
  • #4,133
  • May 14, 2020 1:59am May 14, 2020 1:59am
14 May 2020


Price broken the weekly high and that bullish impusle has seen the H1 and H4 give a positive slope as such allows us to look to buy dips form the zones, the H1 buy zone has already prodcued a couple of bounces already to get us going however price has remained constrained inside the falling wedge pattern, as such buy dips should preferably be trailed to ensure some profit is taken off of them as failure to break the overhead resistance would bring back the bottom of the wedge pattern into play again,the D1 zone has bounced and given a rally from inside the Buy ZOne


All three zones are lined up and bullish and as such zones are as follows
H1: Bullish and Buy Zone: 1713.34 - 1710.68
H4: Bullish and Buy Zone: 1708.55 - 1706.12
D1: Bullish and Buy Zone: 1701.69 - 1684.75


Intra Day levels
Upside
1734.20
1729.82
1722.62
1718.18

Downside
1710.79
1708.55
1703.79
1699.35



Green Pips
4&1 All Time Profit: $37,496
  • #4,134
  • May 14, 2020 8:40am May 14, 2020 8:40am
Update: As things stand. gold has continued to make use of the H1 buy zone to push on, i am expecting a bit of a bearish wave following this most current rally towards that1710.79 Handle once again, NB, this isnt to say we sell, simply look for the bullish confirmation as and when price gets there...

Green Pips
4&1 All Time Profit: $37,496
  • #4,135
  • May 14, 2020 9:07am May 14, 2020 9:07am
Quoting MzansiObi
{quote} Associated chart {image}
We diswcussed the need for a break an retest of the falling wedge pattern during the Asia session, so far price has managed to use the H1 buy Zone wich is around that handle to rally, as such the confirmation of the bullish breakout is in play, H1 close plus D1 close above the former resistance turned support handle needs to hold for price to rally further towards that D1 inverse HnS pattern target...

Green Pips
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH1BreakOut_LI.jpg Size: 1.2 MB
4&1 All Time Profit: $37,496
  • #4,136
  • May 14, 2020 9:53pm May 14, 2020 9:53pm
15 May 2020


Price has rallied and met most of the pre conditions we had for the bullish outlook to remain intact, while we have seen the clear break and close above former resistance now turned support its good to note that all three zones are bullish and have maintained a positive slope. Daily close above the falling wedge means we can look for bullish confirmation signals should price pullback towards that break out level around that 1710-1716 price handle, if not already in, the H1 RSI has begun playing out the bearish divergence we alluded to and as such opportunity to go long will present itself again...


H1: Bullish and Buy Zone: 1728.49 - 1723.78
H4: Bullish and Buy Zone: 1720.40 - 1713.92
D1: Bullish and Buy Zone: 1706.29 - 1688.58

Intra Day Levels

Upside
1757.31
1752.66
1741.57
1735.53
Downside
1726.69
1715.97
1711.04
1709.93
1700.15


Green Pips all around.
4&1 All Time Profit: $37,496
  • #4,137
  • May 17, 2020 10:09pm May 17, 2020 10:09pm
18 May 2020

New week, new possibilities....

Most current price action has got all three zones in bullish mode and as such patiently waiting on the retest of price into the H1 buy zone to load long. Previous structural high at that 1748 has been broken, and although it took extended periods of consolidation around the D1 and the H4 zones respectively, the zones managed to hold up and support price for further bullish continuation, currently trading in the over extended ranges and while that may hint at bearish dips, its best to wait for price to dip back into the H1 buy zone atleast and load long, LO in a few and will look to see what LO does when it opens, price has already covered our upside objectives for monday as such will wait on LO and look at price structure to print new set of upside objectives....



H1: Bullish and Buy Zone: 1748.23 - 1740.95
H4: Bullish and Buy Zone: 1735.89 - 1725.32
D1: Bullish and Buy Zone: 1713.84 - 1692.02


Intra Day Levels of interest

Upside
1764.22
1761.60
1755.11
1749.65
Downside
1742.80
1739.88
1732.01
1726.55


Green Pips
4&1 All Time Profit: $37,496
  • #4,138
  • May 17, 2020 10:17pm May 17, 2020 10:17pm
Quoting MzansiObi
18 May 2020 New week, new possibilities.... Most current price action has got all three zones in bullish mode and as such patiently waiting on the retest of price into the H1 buy zone to load long. Previous structural high at that 1748 has been broken, and although it took extended periods of consolidation around the D1 and the H4 zones respectively, the zones managed to hold up and support price for further bullish continuation, currently trading in the over extended ranges and while that may hint at bearish dips, its best to wait for price to...
H4
Point A illustrating a break in the most recent structural high since the break out from falling wedge pattern....

H1
Point (i) consolidaiton of price near breakout handle followed buy a series of H1 retests offering buy dip modes
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSDH1_LI.jpg Size: 937 KB
Click to Enlarge Name: XAUUSDH4_LI.jpg Size: 949 KB
4&1 All Time Profit: $37,496
  • #4,139
  • May 18, 2020 3:18am May 18, 2020 3:18am
update: Pending buy order
1749.89
SL 1740
TP Open


Looking at the H1 stochs and beginning to point lower from the 80 zone, as such looking to go long on the first dip and retest of price to a lower level to load long


Green pips
4&1 All Time Profit: $37,496
  • #4,140
  • May 18, 2020 7:34am May 18, 2020 7:34am
Quoting MzansiObi
update: Pending buy order 1749.89 SL 1740 TP Open Looking at the H1 stochs and beginning to point lower from the 80 zone, as such looking to go long on the first dip and retest of price to a lower level to load long Green pips
Update, that bearish stoch has seen price track lowe, and as such the outlook now becomes to looj for the first signs of bullish reversal on the cards, H1 RSI just popped out of the 70 zone however, price is inside the buy zone now, as such the outlook to buy the H1 dip remains relevant, given the fact that we are yet to retest the breakout level. position size for buy dips becomes important in order to mitigate against large drawdown...


Green Piips
4&1 All Time Profit: $37,496
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