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Gold Mining - Using Each Trading Day's Trend

  • #2,501
  • Jun 9, 2020 11:56pm Jun 9, 2020 11:56pm
Non-standard analysis, but assume that the market may going to complete the cypher pattern with another perfect abc pattern ( the white dotted lines) then it's need to a little correction to 1699.11
H4 chart
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  • #2,502
  • Jun 10, 2020 2:53am Jun 10, 2020 2:53am
Price is still above 1711.65 and I am catching bulls today.
I expect a pullback down from 1711.65 to possible 1702.08 (which seems a little to extended, but this is Forex), so I placed my orders in that range.
I am targeting 1739.86 (my 38.2% Week Resistance)
Always expect unexpected.
  • #2,503
  • Jun 10, 2020 10:10am Jun 10, 2020 10:10am
Quoting QuantaMath
Non-standard analysis, but assume that the market may going to complete the cypher pattern with another perfect abc pattern ( the white dotted lines) then it's need to a little correction to 1699.11 H4 chart {image}
Update (It is just a case study not for trading)
4H chart
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If the correction is happening and the market tend to complete cypher pattern then for shaping abc pattern the correction b need to meet a neighborhood of 1693 which is almost equal to 61.8 of a
  • #2,504
  • Jun 10, 2020 10:37am Jun 10, 2020 10:37am
Ahh gold lol, missed a nice short opportunity at 1727, hesitated a bit too long, gotta work on the trigger finger qhen those perfect levels line up. I had a daily weekly resistance in that area, I'm not sure what to expect, but I am eyeing 1711.50 as Skol said for a buy, all good things are around 1707-1711 so watching for buys there as well, took a premature buy at 1721.79 weekly pivot. await market judgment
  • #2,505
  • Jun 10, 2020 10:42am Jun 10, 2020 10:42am
gaps left at 1720 and 1726 on m1
  • #2,506
  • Jun 10, 2020 10:47am Jun 10, 2020 10:47am
Quoting QuantaMath
{quote} Update (It is just a case study not for trading) 4H chart {image} If the correction is happening and the market tend to complete cypher pattern then for shaping abc pattern the correction b need to meet a neighborhood of 1693 which is almost equal to 61.8 of a
definitely not ruling out this either Quanta, sorry didn't mean to overlook it. im not educated in the ABC patterns and harmonic patterns so i don't want to comment on them lol, but it definitely looks good, might need to put my sl tighter if it may go that low lol
  • #2,507
  • Jun 10, 2020 12:08pm Jun 10, 2020 12:08pm
Good Short Pattern on 1H....area 1707/1705 should be reached in short term
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  • #2,508
  • Jun 10, 2020 1:31pm Jun 10, 2020 1:31pm
there goes that pivot and 200 ema in action again. lol went straight to 1709 and got rejected nicely, all the way to WR1
  • #2,509
  • Jun 10, 2020 4:58pm Jun 10, 2020 4:58pm
Trade Idea for Thursday June 11, 2020.
Levels am watching on the chart...

Pro Tip: The market is always right. Your position sizing and total acceptance of responsibility for your trade is important in case you go wrong. No blame games.
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  • #2,510
  • Jun 10, 2020 10:23pm Jun 10, 2020 10:23pm
so trade ideas for me is as follows. am expecting a rather small pullback, which is why i decided to close my sell from 1722 at 1731, took the loss, stay alive. 1727.50-1728.50 is area im watching, daily picot stands around there as well as trendline support from daily and 4hr from my analysis.

will look for sells if bears can break down 1723.50 area.
note: gaps left at 1736 and 1713.
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  • #2,511
  • Jun 11, 2020 2:38am Jun 11, 2020 2:38am
I'm looking to go long in a range between 1728.11-1722.51 (have 3 pending buys in that area)
TP 1748.70 where we could have nice rejection, so I will wait to see PA there
SL tight
Always expect unexpected.
  • #2,512
  • Edited 7:08am Jun 11, 2020 6:39am | Edited 7:08am
Quoting Skoljkica
I'm looking to go long in a range between 1728.11-1722.51 (have 3 pending buys in that area) TP 1748.70 where we could have nice rejection, so I will wait to see PA there SL tight
1722.51 reached, possible one more push down? If it happens, it could go down to 1712.78/1711.65
I have 5 support lines in a range 1712.78 - 1709.78 so I moved pending buys in that area. News could easily push price down.
Always expect unexpected.
  • #2,513
  • Jun 11, 2020 8:43am Jun 11, 2020 8:43am
pullback was lower than I thought, pulled out my sells prematurely yesterday, but its okay, was able to recuperate the loss with some scalps, but patientce is key, great job skol, 1722.50 was used nicely as support , am expecting maybe even 1745, 1750 today, anything is possible, but bulls don't seem to be letting up at all
  • #2,514
  • Jun 11, 2020 10:56am Jun 11, 2020 10:56am
ouch, I took a sell at 1744 where resistance was evident and got out wayyyy too early. this forex man lol craziness
  • #2,515
  • Jun 11, 2020 5:02pm Jun 11, 2020 5:02pm
Trade Idea for Friday June 12, 2020.
Levels am watching on the chart.
Last day of the week.

Pro Tip: Emotional management is tied to the amount of lot size you wager. If your lot size is too big, your heart will run faster.
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Learn... Work Hard... Trade Alone
  • #2,516
  • Edited 5:51pm Jun 11, 2020 5:35pm | Edited 5:51pm
Quoting rayoub
ouch, I took a sell at 1744 where resistance was evident and got out wayyyy too early. this forex man lol craziness
This is Forex man... Anything is possible!
Learn... Work Hard... Trade Alone
  • #2,517
  • Jun 11, 2020 6:16pm Jun 11, 2020 6:16pm
Quoting BiteFX
Trade Idea for Friday June 12, 2020. Levels am watching on the chart. Last day of the week. Pro Tip: Emotional management is tied to the amount of lot size you wager. If your lot size is too big, your heart will run faster. {image}
lol i love your pro tips, whenever I read it relates completely to me. Great analysis by the way brother!!!.
I see 2 completely different anlysis forming, but since you posted the first scenario I will not repost but I will post the one I feel a little easier to see for me

I guess our analysis match up as i am looking to sell pivot 1731-1735 area down to around 1717. 1710 area.
1744/45 has been hit quite a few times.
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  • #2,518
  • Jun 11, 2020 6:50pm Jun 11, 2020 6:50pm
Quoting rayoub
{quote} lol i love your pro tips, whenever I read it relates completely to me. Great analysis by the way brother!!!. I see 2 completely different anlysis forming, but since you posted the first scenario I will not repost but I will post the one I feel a little easier to see for me I guess our analysis match up as i am looking to sell pivot 1731-1735 area down to around 1717. 1710 area. 1744/45 has been hit quite a few times. {image} {image} {image} {image}
Thanks brother... We Stay Alive
Learn... Work Hard... Trade Alone
  • #2,519
  • Jun 12, 2020 12:29am Jun 12, 2020 12:29am
i see gold going to 1600's again with stop loss at Thursday's high ...
Proper swing trade.
who's on the same side??
  • #2,520
  • Jun 12, 2020 1:19am Jun 12, 2020 1:19am
Quoting finnyjosh
i see gold going to 1600's again with stop loss at Thursday's high ... Proper swing trade. who's on the same side??
Am already in Finnyjosh... Well done job
Learn... Work Hard... Trade Alone
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