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Gold Mining - Using Each Trading Day's Trend

  • #2,901
  • Jul 17, 2020 7:20am Jul 17, 2020 7:20am
Hello everyone! Usd news is after 10 minutes,In Sha Allah it may bring XAU sell , But the news have low power ...
  • #2,902
  • Jul 17, 2020 7:49am Jul 17, 2020 7:49am
Quoting Skoljkica
{quote} TP hit yesterday. Now I'm in with bulls at 1800.00 as long as price is holding above 1798.67 (still support/resistance line), for now plan is the same as yesterdays First TP is at 1810.95 which already acted as a resistance couple of times. Note: 1804.53 can also act as a resistance and push price to 1801.74 to find support. Second potential TP is at 1816.47/1819.40 (to fulfill its daily range price should hit 1816.47) It is possible price will hit 1810.95 and find support at 1807.94, then continue its upward movement If price can't hold...
Great analysis Skol. thanks for always being consistent with the posts .
I have actually decided to sell 1807 with 1st tgt at 1801.50 daily pp.although we may see 1792 today as well.
  • #2,903
  • Jul 17, 2020 7:52am Jul 17, 2020 7:52am
Quoting rayoub
{quote} Lol by the skin on my teeth. and from analysis standpoint I believe usd was supposed to drop. if you look at daily on usd you can see a nice bearish flag that is happening.
I learnt from Bobby Axelrod in the fiction series "Billions" "Don't hold onto a losing position, learn when to let go" I believe that's why Bite said SL is the "Holy Grail" of FX Trading.

At times you loose a battle in order to win the WAR!
Jus tryna be a BILLIONAIRE!
  • #2,904
  • Jul 17, 2020 7:57am Jul 17, 2020 7:57am
hitting the top for the 3rd time without testing bottom yet. potwntial drop coming soon
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  • #2,905
  • Jul 17, 2020 8:07am Jul 17, 2020 8:07am
Quoting obatraid
{quote} I learnt from Bobby Axelrod in the fiction series "Billions" "Don't hold onto a losing position, learn when to let go" I believe that's why Bite said SL is the "Holy Grail" of FX Trading. At times you loose a battle in order to win the WAR!
I agree with you obatraid however my strategy involves not placing SLs and learning how to properly manage acct.
for example if I have 2000 in my acct and I have a .1 lot size on gold it would take price to move 2000 against me in order to kick me out however my analysis is usually not 2000 pips off, maybe 50 to 100, and with gold that is a normal range SL yesterday originally was 1798 but at that point I was negative 1000, I decided to wait and closed positions with a 20 dollar loss. I understand SLs are a security blanket but they also happen to be tgted areas in my opinion..my support line was 1798 proce went right through it and then flew back.

SL would have been hit and then price would have moved in my direction.
if you manage your acct properly ( im still learning) you can almost bias yourself into mostly wins.
  • #2,906
  • Jul 17, 2020 8:37am Jul 17, 2020 8:37am
Quoting Skoljkica
{quote} TP hit yesterday. Now I'm in with bulls at 1800.00 as long as price is holding above 1798.67 (still support/resistance line), for now plan is the same as yesterdays First TP is at 1810.95 which already acted as a resistance couple of times. Note: 1804.53 can also act as a resistance and push price to 1801.74 to find support. Second potential TP is at 1816.47/1819.40 (to fulfill its daily range price should hit 1816.47) It is possible price will hit 1810.95 and find support at 1807.94, then continue its upward movement If price can't hold...
always admire your patience brother one day you gotta teach it to me lol. i have impulsive tendencies that are obvious in my trading. I bought yesterday from 1806 every dollar it went down until 1796 where I knew was the best spot, then closed them most in profit, but only at around 1804.50 and took losses on the ones above. 1 more hr would have brought all to profit but then again I should have never opened so many positions then I wouldn't have had to worry about the move against until support was found.
  • #2,907
  • Jul 17, 2020 8:48am Jul 17, 2020 8:48am
The last news have low power but guys the news Which is after 10 minutes has high power it will sell gold alot, may the gold regains buy after the news
  • #2,908
  • Jul 17, 2020 8:50am Jul 17, 2020 8:50am
But the sell journey will start after a little bit time in Sha Allah, May Allah bless you all Ameen
  • #2,909
  • Jul 17, 2020 9:00am Jul 17, 2020 9:00am
a little proof that discipline collecting profits and being a crazy impulsive ass sometimes works lol. granted if i had the PATIENTCE of SKOL AND BITE i probably would have no reds at all lol and higher blues. ,but baby steps. for me 1st thing is to make sure I build my acct up, because I've seen and bites seen what LARGE acts can do, (referencing digger and aussi) in other threads. UNSTOPPABLE. lol. So I take what market gives me as much as I can and I try to do it strategically. sometimes premature entries and exits, but the main thing is PROFIT IS PROFIT. you never know exactly at whag point market turns but you can use your analysis to give close approximation, sometimes TPs get hit somrtimes they don't, but when i see a profit worth collecting, I dont hesitate to close and wait for PA later.

this is just motivation for some who think small profits may not be nothing. this is almost over 1000 profit and not one trade did I let get over $50. ( only 5 trades were over $20 lol)

Still shorting 1807-1809, unless market tells me otherwise.
Just wanted to share some success since I've always shared my failures.
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  • #2,910
  • Jul 17, 2020 9:08am Jul 17, 2020 9:08am
Quoting rayoub
a little proof that discipline collecting profits and being a crazy impulsive ass sometimes works lol. granted if i had the PATIENTCE of SKOL AND BITE i probably would have no reds at all lol and higher blues. ,but baby steps. for me 1st thing is to make sure I build my acct up, because I've seen and bites seen what LARGE acts can do, (referencing digger and aussi) in other threads. UNSTOPPABLE. lol. So I take what market gives me as much as I can and I try to do it strategically. sometimes premature entries and exits, but the main thing is PROFIT...
Unexpected happened
  • #2,911
  • Jul 17, 2020 9:16am Jul 17, 2020 9:16am
Quoting rayoub
{quote} always admire your patience brother one day you gotta teach it to me lol. i have impulsive tendencies that are obvious in my trading. I bought yesterday from 1806 every dollar it went down until 1796 where I knew was the best spot, then closed them most in profit, but only at around 1804.50 and took losses on the ones above. 1 more hr would have brought all to profit but then again I should have never opened so many positions then I wouldn't have had to worry about the move against until support was found.
Thank you for that.
I had the same problem at first, I always thought price won't reach that expected price and I've learned it on mistakes.
In most times price reaches expected price, but there are times I also miss my entry because I was "too patient". Those are all the lessons for us to keep with trading plan. Not to rush in. And of course let the price to hit your TP (not just SL).
Always expect unexpected.
  • #2,912
  • Jul 17, 2020 9:23am Jul 17, 2020 9:23am
Quoting rayoub
a little proof that discipline collecting profits and being a crazy impulsive ass sometimes works lol. granted if i had the PATIENTCE of SKOL AND BITE i probably would have no reds at all lol and higher blues. ,but baby steps. for me 1st thing is to make sure I build my acct up, because I've seen and bites seen what LARGE acts can do, (referencing digger and aussi) in other threads. UNSTOPPABLE. lol. So I take what market gives me as much as I can and I try to do it strategically. sometimes premature entries and exits, but the main thing is PROFIT...
Congratulations Ray!
The truth is that in most times you shared your losses and I'm glad you shared your success.
Keep going on like that!
Always expect unexpected.
  • #2,913
  • Jul 17, 2020 9:35am Jul 17, 2020 9:35am
honestly THANK YOU GUYS. I wouldn't be where I am without this thread believe it or not. you guys got me to delete all the noise on my charts and the motivation to keep trying despite failure. InshaAllah one day as I mentioned before we will all be very wealthy and go meet up somewhere exotic and remember these days of the struggle lol
  • #2,914
  • Jul 17, 2020 9:46am Jul 17, 2020 9:46am
Quoting Skoljkica
{quote} Thank you for that. I had the same problem at first, I always thought price won't reach that expected price and I've learned it on mistakes. In most times price reaches expected price, but there are times I also miss my entry because I was "too patient". Those are all the lessons for us to keep with trading plan. Not to rush in. And of course let the price to hit your TP (not just SL).
I agree, I am still battling my scalping tendencies and letting trades run. I dont like SLs, every time I use one it gets hit and then just out of nowhere it goes to where my tp is. I dont believe brokers stop loss hunt, but i do believe that our SLs are usually others' profit taking and as such Sls should be placed a bit lower than what we normally would expect but im working out the kinks, I'm trying to get it where 10-30 pips is something I can catch without worry.
  • #2,915
  • Jul 17, 2020 9:54am Jul 17, 2020 9:54am
Quoting rayoub
{quote} I agree, I am still battling my scalping tendencies and letting trades run. I dont like SLs, every time I use one it gets hit and then just out of nowhere it goes to where my tp is. I dont believe brokers stop loss hunt, but i do believe that our SLs are usually others' profit taking and as such Sls should be placed a bit lower than what we normally would expect but im working out the kinks, I'm trying to get it where 10-30 pips is something I can catch without worry.
I agree with you, all those "spikes" my mentor and I look as a way to delete SL and continue price to move in our direction. Sometimes it feels no matter how far away you put your SL it will get hit, that is the reason my SL is 21 pip. It gives space for price to move and it is not that big, so my TP is always at least more than 2 times bigger than SL.
But I also have the problem with letting my profitable trading run for TP. Everyday I get better and better.
Always expect unexpected.
  • #2,916
  • Jul 17, 2020 10:09am Jul 17, 2020 10:09am
Quoting rayoub
a little proof that discipline collecting profits and being a crazy impulsive ass sometimes works lol. granted if i had the PATIENTCE of SKOL AND BITE i probably would have no reds at all lol and higher blues. ,but baby steps. for me 1st thing is to make sure I build my acct up, because I've seen and bites seen what LARGE acts can do, (referencing digger and aussi) in other threads. UNSTOPPABLE. lol. So I take what market gives me as much as I can and I try to do it strategically. sometimes premature entries and exits, but the main thing is PROFIT...
Nice Job Brother
  • #2,917
  • Jul 17, 2020 10:28am Jul 17, 2020 10:28am
Quoting QuantaMath
{quote} Nice Job Brother
thanks brother i hope your doing well i miss your charts man. get your ass back in the game
  • #2,918
  • Jul 17, 2020 10:31am Jul 17, 2020 10:31am
Quoting rayoub
hitting the top for the 3rd time without testing bottom yet. potwntial drop coming soon {image}
Bro bro, I wish I was sitting somewhere and working the market, unfortunately I had to work like a slave today lol
I see what you see Ray, I got my shorts locked in with some stop losses, just in case. On a further note, let's not disregard Quantas analysis in regards to the anti Gartley formation, we might be very much looking at a part of that unfolding now.
Getting green but seldom seen
  • #2,919
  • Jul 17, 2020 11:30am Jul 17, 2020 11:30am
Quoting Xautrucho
{quote} Bro bro, I wish I was sitting somewhere and working the market, unfortunately I had to work like a slave today lol I see what you see Ray, I got my shorts locked in with some stop losses, just in case. On a further note, let's not disregard Quantas analysis in regards to the anti Gartley formation, we might be very much looking at a part of that unfolding now.
agreed brother! so I may let these specific trades run into next week. I have seen 1810 hit too many days in a row with very minor pullbacks if any. am thinking bulls are exhausting themselves right now and profit taking is being done at this point. way too many gaps left below. I can definitely see price going up to potentially 1818, 1825 area, but I think this may be where bears come in to really show up.

if Quanta is coreect then my trendline confirms this, I am seeing 1785 coming soon, if this happens price should find resistance at 1790-1792 and collapse to 1775, which will open the door to 1758, and as quanta mentioned 1724.. unless 1810 is closed above nicely, more regarding the weekly and daily candles closing above at this point.

if 1810 can be comfortably closed above then will consider a buy at that point but only for small tgts.
  • #2,920
  • Jul 17, 2020 11:36am Jul 17, 2020 11:36am
Quoting rayoub
{quote} thanks brother i hope your doing well i miss your charts man. get your ass back in the game
I'm coming back very soon.
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