Gold Mining - Using Each Trading Day's Trend
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 {image}{image}
{quote} S1 broken downwards...heading for S2. That is where I have my stop loss...
{quote} Price has broken triple support lines (100% WS, 23.6% QS and 50% MS). 50% Fibo lines can act as a support or resistance. It is possible it will find resistance there and go down to 1688.08 I'm patient with placing buy order. {image}
patientce should have been exercised on my part however its okay, market has seemed to be gapping down since yesterday, not sure why, but I am watching those as well since I scalp some trades and let others sit, market left gaps on 1m around 1715, 1713, 1701
{quote} you my friend are golden
{quote} you my friend are golden
my last analysis was incorrect In H4 chart I am recognizing a pattern ABC, the white lines and blue labels I draw a channel by pink dotted lines with margin 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 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 {image}
Almost took my stop loss...but...but... Am still alive!
still alive lol
{quote} unfortunately I exited the trades in losses as was looking at too much negative,... and wait for it..... all trades would be positive lol. Gold is a fun but scary Rollercoaster. its okay
{quote} unfortunately I exited the trades in losses as was looking at too much negative,... and wait for it..... all trades would be positive lol. Gold is a fun but scary Rollercoaster. its okay
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
{quote} But, you have been a fine trader thus far... Well done job.
Trade Idea for Thursday May 28, 2020. Antigravity continues... Levels am watching... Buy PP, stop loss at S1, potential Take profit R1/R2/R3 We Stay Alive...
{quote} after looking at your analysis brother I am actually inclined to change my tp to 1705 and then possibly buy as you said. I was skeptical about my hns analysis for some reason. but it seems rather nice and fitting. {image} {image}
{quote} after looking at your analysis brother I am actually inclined to change my tp to 1705 and then possibly buy as you said. I was skeptical about my hns analysis for some reason. but it seems rather nice and fitting. {image} {image}
Hi all, bonne journée {image} Here is 1H Chart, Pay attention to three green rectangle: The Left one is a breakout region of trend line B and it is similar to a gap The Middle one is the first Pullback which similar to filling gap The third one was again rejected an did not touch 1720 I guess The first green rectangle was Institutional Long positions and the middle rectangle is first support action and both were happened in NY session, and even the price will move down after the third green rectangle, I guess it will be rejected. But I should...
expecting tomorrow to continue our trade ideas for today, Quanta I think your pink trendline corresponds to my white one, if so we are in agreement. price broke trend and retested from below rejection tells us we may get 1710-1715 area soon and wait to see price acrion around there. {image}
{quote} {image} The price has rejected at golden line A then I think if it going to touch the golden line B and if it will cross B and in 15M chart it the price will cross two blue lines then I think will tend to 1718 at least. {image}
Trade Idea for Thursday May 28, 2020. Antigravity continues... Levels am watching... Buy PP, stop loss at S1, potential Take profit R1/R2/R3 We Stay Alive...
