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Gold Mining - Using Each Trading Day's Trend

  • #2,181
  • May 26, 2020 9:09am May 26, 2020 9:09am
Alright, took profit at 1715.66...will short again at 1724.50/1721.55...last week's low broken, a little more down before up my thoughts.
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  • #2,182
  • May 26, 2020 9:18am May 26, 2020 9:18am
I was able to catch a couple buys off the m30 200 down by 1715 area, tps were at 1718, 1720 they were reached, i put another sell in at 1720 as well, expecying maybe 1712 to be reached before I begin looking for price acrion on buys,
  • #2,183
  • May 26, 2020 9:21am May 26, 2020 9:21am
Quoting rayoub
I was able to catch a couple buys off the m30 200 down by 1715 area, tps were at 1718, 1720 they were reached, i put another sell in at 1720 as well, expecying maybe 1712 to be reached before I begin looking for price acrion on buys,
Sote
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  • #2,184
  • May 26, 2020 10:04am May 26, 2020 10:04am
Quoting BiteFX
{quote} Sote
oh man 1710 reached beautifully, I took a couple buys there am expecting that support to hold for at least a move back to 1715 1716
  • #2,185
  • May 26, 2020 3:36pm May 26, 2020 3:36pm
Quoting MQLTrade
REV ZONE is calling GOLD..... {image}
....toc toc
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  • #2,186
  • May 26, 2020 3:43pm May 26, 2020 3:43pm
Quoting MQLTrade
{quote} ....toc toc {image}
MQLTrade, please when posting your charts, clearly explain what you mean and your analysis.
That way every gold miner here get what you are saying.

Thanks and Well done...
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  • #2,187
  • May 26, 2020 4:32pm May 26, 2020 4:32pm
Trade Idea for Wednesday May 27, 2020.
5th Bearish wave completed, but bearish pressure might still continue.
However, I'll be looking forward to Antigravity (Bullish movement).
Levels am watching...
Buy S1, S2...

We Stay Alive
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200526_221923.jpg Size: 60 KB
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  • #2,188
  • May 26, 2020 6:53pm May 26, 2020 6:53pm
Quoting BiteFX
Trade Idea for Wednesday May 27, 2020. 5th Bearish wave completed, but bearish pressure might still continue. However, I'll be looking forward to Antigravity (Bullish movement). Levels am watching... Buy S1, S2... We Stay Alive {image}
Great Analysis as always.

I am trying to count the waves and and if I am correct and this counting is compatible with yours , and since the 3th wave is shorter than the wave 1st, then the 5th wave most not longer than the 3th and the bottom FE100 is critical level and I think the price will not 1703.53.
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  • #2,189
  • May 26, 2020 9:02pm May 26, 2020 9:02pm
Quoting QuantaMath
{quote} Great Analysis as always. I am trying to count the waves and and if I am correct and this counting is compatible with yours , and since the 3th wave is shorter than the wave 1st, then the 5th wave most not longer than the 3th and the bottom FE100 is critical level and I think the price will not 1703.53. {image}
Yes you are right... But, I think that these concepts are only perfect on paper.

In reality, one should be able to check if the waves make a lower high, lower low downtrend or a higher high, higher low uptrend.
The take away is for identification purposes.

The idea of shorter or longer wave, might not be fisible in real time analysis.
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  • #2,190
  • May 26, 2020 9:24pm May 26, 2020 9:24pm
Quoting BiteFX
{quote} Yes you are right... But, I think that these concepts are only perfect on paper. In reality, one should be able to check if the waves make a lower high, lower low downtrend or a higher high, higher low uptrend. The take away is for identification purposes. The idea of shorter or longer wave, might not be fisible in real time analysis.
Based on my technical analysis,gold is possible to fly up.we finished elliot wave 5,got hammer candle in 4h chart and 1h chart, touching up trendline..but of course its not so easy like when the drop from wave 4 to 5 came..lot of news from china and us makes this gold a lot confusing to trade..
  • #2,191
  • May 27, 2020 12:02am May 27, 2020 12:02am
Quoting BiteFX
{quote} Yes you are right... But, I think that these concepts are only perfect on paper. In reality, one should be able to check if the waves make a lower high, lower low downtrend or a higher high, higher low uptrend. The take away is for identification purposes. The idea of shorter or longer wave, might not be fisible in real time analysis.
Thanks so much
  • #2,192
  • Edited 3:16am May 27, 2020 1:15am | Edited 3:16am
Quoting BiteFX
Trade Idea for Wednesday May 27, 2020. 5th Bearish wave completed, but bearish pressure might still continue. However, I'll be looking forward to Antigravity (Bullish movement). Levels am watching... Buy S1, S2... We Stay Alive {image}
Am in... I await market judgement.
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  • #2,193
  • May 27, 2020 2:32am May 27, 2020 2:32am
New LONG only over 1718 for 1727/1734....
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  • #2,194
  • May 27, 2020 2:49am May 27, 2020 2:49am
Morning all.
I am looking to enter long at 1696.22/1695.60, but I'm prepared that price could go lower to 1688.08 (50% Year Support)
In that range we have a nice cluster support.
TP 1713.86 - at that price I'm expecting a battle between bulls and bears.

So it is possible price will first find support at 1696.22, go up to 1713.86 and continue down to 1688.08
Attached Image
Attached Image
Always expect unexpected.
  • #2,195
  • May 27, 2020 2:58am May 27, 2020 2:58am
Quoting Skoljkica
Morning all. I am looking to enter long at 1696.22/1695.60, but I'm prepared that price could go lower to 1688.08 (50% Year Support) TP 1713.86 - at that price I'm expecting a battle between bulls and bears. So it is possible price will first find support at 1696.22, go up to 1713.86 and continue down to 1688.08 {image}{image}
On point!
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  • #2,196
  • May 27, 2020 5:43am May 27, 2020 5:43am
Some of the idea either way right now on H4 timeframe. Mostly I find it will go back to pivot magic line level then the battle of war between bear S1 and bull R1

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  • #2,197
  • May 27, 2020 6:05am May 27, 2020 6:05am
Quoting miziler
Some of the idea either way right now on H4 timeframe. Mostly I find it will go back to pivot magic line level then the battle of war between bear S1 and bull R1 {image}
Magic Miziler...
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  • #2,198
  • May 27, 2020 7:56am May 27, 2020 7:56am
I'm a little late on posting my analysis obviously sorry you guys gotta make some time to sleep lol. but I agree with you all great job guys!!.

So essentially I believe Gold will go up as well, i have few things labeled in the pictures.
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  • #2,199
  • May 27, 2020 8:04am May 27, 2020 8:04am
my last analysis was incorrect
In H4 chart

 

  1. I am recognizing a pattern ABC, the white lines and blue labels
  2. I draw a channel by pink dotted lines with margin
  3. If the ABC pattern confirm and the price will cross the blue trend line then the price expectantly will meet the middle line of channel at first and if it will cross the middle line then possibly the price will meet 1790
  4. But if The price will not confirm a ABC pattern and the price cross the golden trend line A then I think the will fall 1681 and then 1670

Attached Image (click to enlarge)
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  • #2,200
  • May 27, 2020 8:08am May 27, 2020 8:08am
Quoting BiteFX
Trade Idea for Wednesday May 27, 2020. 5th Bearish wave completed, but bearish pressure might still continue. However, I'll be looking forward to Antigravity (Bullish movement). Levels am watching... Buy S1, S2... We Stay Alive {image}
S1 broken downwards...heading for S2. That is where I have my stop loss...
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