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Gold Mining - Using Each Trading Day's Trend

  • #2,921
  • Jul 17, 2020 12:42pm Jul 17, 2020 12:42pm
These "Buffalos" keep raging on, Down 1793 yesterday, NOW seems poised to close above 1805. Until next week Miners...
Jus tryna be a BILLIONAIRE!
  • #2,922
  • Jul 18, 2020 2:27am Jul 18, 2020 2:27am
Quoting Skoljkica
{quote} 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.
For me, I dont do SLs... I used to when I started forexing but as I read and do more research, my strategy involves not using SLs. As a scalper, i have learnt how to accept a particular loss when I see that the trade wont return in my direction soon, thereby making me loose all my money. When the corona virus pandemic hit hard from Feb, I watched my $500 dollars reduced to $150... I was freaked out. I should have left when I saw -80, -100, -150... oh no, i didn't. I wanted to die as a man. By the time i got my senses back, my account is 150... so I have learnt how to accept some certain losses and I take them as my dues to the broker. So, if my loss gets to -80 and no possibility in sight, I cringed as I hit the close button and it's a mixture of pain and relief.. hahahah. Needless to say I've had tons of trades that eventually goes back to my position. So, it's a win win situation. Sometimes, you just have to know how to be generously (lol) to your broker. Yesterday, i saw -80 but I knew market will go back to my position and and it did and I cashed out from it. As someone here said... forex is war... we can only trade when we are alive in the market.
  • #2,923
  • Jul 18, 2020 3:57pm Jul 18, 2020 3:57pm
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...
Well done job brother
Learn... Work Hard... Trade Alone
  • #2,924
  • Edited Jul 20, 2020 1:56am Jul 19, 2020 11:36am | Edited Jul 20, 2020 1:56am
Quoting ozormaris
{quote} For me, I dont do SLs... I used to when I started forexing but as I read and do more research, my strategy involves not using SLs. As a scalper, i have learnt how to accept a particular loss when I see that the trade wont return in my direction soon, thereby making me loose all my money. When the corona virus pandemic hit hard from Feb, I watched my $500 dollars reduced to $150... I was freaked out. I should have left when I saw -80, -100, -150... oh no, i didn't. I wanted to die as a man. By the time i got my senses back, my account is...
Well done if you know when is enough and when to exit the trade if it is going with or against you. To me it looks like a big struggle.
From my point of view, the thing with using SL is that it will save you from bankruptcy. We can't control the market and can't predict how big move price is going to make. So if there is a big move coming, sometimes we don't have the time to act with closing the trade and there is no more money on the account.
Also, I like to trade according to my plan. Stick with it and let the price hit my TP or SL.
Always expect unexpected.
  • #2,925
  • Jul 19, 2020 3:43pm Jul 19, 2020 3:43pm
So I want ro see how gold opens before a better analysis, but upon initial assessment, I believe 1805-( daily and weekly pp) 1807 will determine a lot for us. if price finds support at 1805-1807 and can close back above 1810, I believe we will see 1816 at 1st tgt.

if price is unable to close back above 1810, I think this will be good opportunity to short down to 1800 1799( S1)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200719-164004_MetaTrader 4.jpg Size: 1.3 MB
  • #2,926
  • Jul 19, 2020 4:15pm Jul 19, 2020 4:15pm
Quoting Skoljkica
{quote} Well done if you know when it enough and when to exit the trade if it is going with or against you. To me it looks like a big struggle. From my point of view, the thing with using SL is that it will save you from bankruptcy. We can't control the market and can't predict how big move price is going to make. So if there is a big move coming, sometimes we don't have the time to act with closing the trade and there is no more money on the account. Also, I like to trade according to my plan. Stick with it and let the price hit my TP or...
This you just said Skol reminds me of a bitter lesson I learnt in 2018. It was during the early heat of the BREXIT DRAMA I was still working then as State Attorney, it was the close of London trading hours, and as was the fact in time zoning, the New York Hours seems to give the USD some edge over the GBP, especailly when the DOW was recording gains.
Then it all happened, I had GBP/USD going down, I was out of my office for a few minutes, I ALWAYS HAVE CNN ON, AND FX FACTORY WITH INVESTING.COM, I had returned to my office and the next thing I saw was my account blinking red, an account of almost $500 was being blown up like infantry positions being shelled, WTF! HAPPENED, THERESA MAY WTF DID YOU DO!

ALAS! SHE HAD JUST ANNOUNCED THAT A SUBSTANTIAL DEAL HAD BEEN CLOSED IN BRUSSELS, that news was not in any Menu, not FXF, nor Investing NOT ANYWHERE, IT WAS !!!BREAKING NEWS!!! GBP/USD HAD SPIKED TO A POINT OF NO RECOVERY FOR ME.

If it were a news I was expecting I wouldn't have had any position open, unless I waited and intended to trade that news. NO SL! Literally I WAS F*UCKED!

With $65 left, my trade was closed, I hoped the trend will reverse almost immediately as it usually is with some news, since that day I learnt to bear the discipline and pain of a little loss with SL, instead of leaving a trade going against the move, with the hope for a reversal, I close that trade, restudy, stay off that move if not certain or get on the train and also ride back the reversal

I 2 weeks later stopped trading after that blow, the rest's been history, I gave my funds to disciplined funds Managers, later joined this tread and started mining GOLD.

BUT we all gat our various strategies though, just thought to share my lesson.
Jus tryna be a BILLIONAIRE!
  • #2,927
  • Jul 19, 2020 5:18pm Jul 19, 2020 5:18pm
Quoting Skoljkica
{quote} Well done if you know when it enough and when to exit the trade if it is going with or against you. To me it looks like a big struggle. From my point of view, the thing with using SL is that it will save you from bankruptcy. We can't control the market and can't predict how big move price is going to make. So if there is a big move coming, sometimes we don't have the time to act with closing the trade and there is no more money on the account. Also, I like to trade according to my plan. Stick with it and let the price hit my TP or SL.
good morning sir skolj what is your analysis for the week today? thanks
  • #2,928
  • Jul 19, 2020 6:47pm Jul 19, 2020 6:47pm
Quoting rayoub
So I want ro see how gold opens before a better analysis, but upon initial assessment, I believe 1805-( daily and weekly pp) 1807 will determine a lot for us. if price finds support at 1805-1807 and can close back above 1810, I believe we will see 1816 at 1st tgt. if price is unable to close back above 1810, I think this will be good opportunity to short down to 1800 1799( S1) {image}
Ray, I hope all is well with you brother. As always, a fine analysis you've provided for our thread. I think a close above 1804.37 can signal a move up to 1815.83. A close below 1800.07 can signal a move down to our long awaited 1779.18. Keeping in mind that there is a great level of support found at 1786.87 that might stall our movement. I'm expecting a spike at some point in this week, potentially starting at 1815.83 or at 1799.18. PA movement through 1804.37 should give a clearer understanding as to how our day shall unfold.
1804.37 is my 104MA and also just shy from the daily 50.0 Fibonacci.
Stay alive out there!
Getting green but seldom seen
  • #2,929
  • Jul 19, 2020 7:18pm Jul 19, 2020 7:18pm
On the H1 Chart 1811.50-Resistance while 1808.00-Support, this is for some quick scalping.

On my H4 Chart there may be a tanking to 1796 that is if Bulls are unable to break above 1808 - 1811 levels. Still awaiting more Expert technical analysis from Bite, Skol and Quanta.
Jus tryna be a BILLIONAIRE!
  • #2,930
  • Edited 9:02pm Jul 19, 2020 7:49pm | Edited 9:02pm
Looking real good, we're on set to close below 1808.52 (23.6 Fib) Hoping to ride my 1811.65 SHORT down to a potential 1803.36. Just slightly underneath 50.0 Fib where we immediately find a great level of support on H4. Let's see how this plays out.
Getting green but seldom seen
  • #2,931
  • Jul 19, 2020 8:40pm Jul 19, 2020 8:40pm
1805 is daily and weekly pivot 200 ema is sitting there took a couple buys with tp as 1808.76 for scalps
  • #2,932
  • Jul 19, 2020 8:41pm Jul 19, 2020 8:41pm
1810 did its job hitting us back fown, so was able to scalp and get out at 1808. expecting at least one more push up to confirm downwards movement but, bulls could take charge soon. open to either direction will adjust as needed.
  • #2,933
  • Jul 19, 2020 10:20pm Jul 19, 2020 10:20pm
Quoting Xautrucho
{quote} Ray, I hope all is well with you brother. As always, a fine analysis you've provided for our thread. I think a close above 1804.37 can signal a move up to 1815.83. A close below 1800.07 can signal a move down to our long awaited 1779.18. Keeping in mind that there is a great level of support found at 1786.87 that might stall our movement. I'm expecting a spike at some point in this week, potentially starting at 1815.83 or at 1799.18. PA movement through 1804.37 should give a clearer understanding as to how our day shall unfold. 1804.37 is...
hey brotha all well man thanks hope you had a good weekend as well!!! and I apprwciate it sir. I agree with you, above 1803.50 area seems like good indication bulls remain in charge, a break and hold below would invalidate there move and open us up to 1800, below there, 1795, and 1790 will be next area i watch.
  • #2,934
  • Jul 19, 2020 11:00pm Jul 19, 2020 11:00pm
Happy Monday

H1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: gold1h.png Size: 48 KB

The price has 4 obstacles to moving up:

  1. The golden trend line 0
  2. The blue trend line
  3. The red horizontal trend line and the green Horizontal trend line at above
  4. The red rectangular area which if it combine with the green trend line could be as a second top of possible double top

If the price cross all obstacles then price could meet neighborhood of 1833 but if the price rejected by one of the four obstacles at above then it will try to cross the orange line 1 and 2 and after that try to touch 1791

  • #2,935
  • Jul 19, 2020 11:12pm Jul 19, 2020 11:12pm
Quoting rayoub
{quote} hey brotha all well man thanks hope you had a good weekend as well!!! and I apprwciate it sir. I agree with you, above 1803.50 area seems like good indication bulls remain in charge, a break and hold below would invalidate there move and open us up to 1800, below there, 1795, and 1790 will be next area i watch.
The weekends are always lovely! I appreciate you checking in brother.
We seem to be experiencing a great level of support 1806.67. Upon further review, I agree with you and want to echo that 1795.88 is very practical checkpoint. With that being said, a close above 1809.78 can potentially trigger a bull run to 1815.33. Finally, a close below 1808.49 (23.6 Weekly Fib) can confirm further move down to 1802.29 July 13 Closing Price, also our previous highest low close on our Day chart.

Let's get everyone's input and let's make some moves, brothers. This week is ours
Getting green but seldom seen
  • #2,936
  • Jul 19, 2020 11:15pm Jul 19, 2020 11:15pm
Quoting QuantaMath
Happy Monday H1 chart {image} The price has 4 obstacles to moving up: The golden trend line 0 The blue trend line The red horizontal trend line and the green Horizontal trend line at above The red rectangular area which if it combine with the green trend line could be as a second top of possible double top If the price cross all obstacles then price could meet neighborhood of 1833 but if the price rejected by one of the four obstacles at above then it will try to cross the orange line 1 and 2 and after that try to touch 1791
Wow! Absolutely stunning! Exceptional work, brother. Very detailed yet very friendly chart. Thank you for your work, we are blessed to have you here.
Getting green but seldom seen
  • #2,937
  • Edited 3:32am Jul 20, 2020 3:11am | Edited 3:32am
Good morning to all.

Although I am looking 1810.95 as a support line where bulls should confirm they are in charge, I already entered long at 1809.09.
TP 1824.17
Before reaching TP price could find resistance at 1815.41 and 1819.92
Also we could see 1842.19/1845.85 if 1810.95 holds.

However, if 1810.95 can't hold, we could see 1804.02, it could be potential buy price.
Attached Image
Always expect unexpected.
  • #2,938
  • Jul 20, 2020 3:19am Jul 20, 2020 3:19am
So far I have missed several SELL entries at 1811 region, had placed a sell limit there though, still wont be touched, BUT I hope it gets there again and makes a sharp drop for some quick profits, (That's on the 5Min Chart) on the 1H Chart if price is unable to break above 1811 - 1813, then the current trend may drop back to the 1807 - 1805 region, while on the the 4H Chart, a new down trend seems to be forming and the bears may push can down to 1796.70 Support.

Its 09:20 am my time zone, any of the above should happen between now and 12 noon my time. I watch carefully.
Jus tryna be a BILLIONAIRE!
  • #2,939
  • Jul 20, 2020 3:37am Jul 20, 2020 3:37am
Quoting obatraid
So far I have missed several SELL entries at 1811 region, had placed a sell limit there though, still wont be touched, BUT I hope it gets there again and makes a sharp drop for some quick profits, (That's on the 5Min Chart) on the 1H Chart if price is unable to break above 1811 - 1813, then the current trend may drop back to the 1807 - 1805 region, while on the the 4H Chart, a new down trend seems to be forming and the bears may push can down to 1796.70 Support. Its 09:20 am my time zone, any of the above should happen between now and 12 noon my...
YUP! Just closed a quick Sell from 1811.00 - 1810.40
Jus tryna be a BILLIONAIRE!
  • #2,940
  • Jul 20, 2020 4:02am Jul 20, 2020 4:02am
Quoting obatraid
{quote} YUP! Just closed a quick Sell from 1811.00 - 1810.40
Okay I'm in with the Bulls, on the 5min and 1H time frames, there's been a Bullish trend from 1807 region, there may be some back and forths, but the apparent trend is BULLISH!
Jus tryna be a BILLIONAIRE!
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