Gold Mining - Using Each Trading Day's Trend | Page 153 | Metals Mine

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD

Similar Threads

Scalping Gold using WPR 1,019 replies

Which standard Indicators are most related to each other? 2 replies

Gold Mining II - Using Reference Lines 13 replies

An idea for building wealth...using only gold 9 replies

Trading Gold - An End of Day System 27 replies

Attachments: Gold Mining - Using Each Trading Day's Trend
Exit Attachments

Gold Mining - Using Each Trading Day's Trend

  • #3,041
  • Jul 27, 2020 3:23am Jul 27, 2020 3:23am
After yet another spike like that, im thinking if it keep rising gradually till US open we could well see a pull back to the1920/1910 area
although i did get a short in from 1939.40 will hold it if breaks above 1947 may cut losses will watch PA (was driving at the time of the spike so missed the peak lol

Image attached is from a dummy account but watching closely for a break below the rising consolidation before adding and shorts

P.S I had a monthly Resistance line at 1944
however like Skol says, should be looking to add longs at pull backs rather that quick little shorts in

Note i have buys in from 1761 so my shorts are just scalping till something more deffinet comes in
Attached Image (click to enlarge)
Click to Enlarge Name: rising consolidation.JPG Size: 46 KB
  • #3,042
  • Jul 27, 2020 10:08am Jul 27, 2020 10:08am
I will be a little suprised the way it shot through all time highs not even a glitch then no retest of at least 1920.80 area but that is gold
she sure is a beast
  • #3,043
  • Jul 27, 2020 10:11am Jul 27, 2020 10:11am
Quoting Skoljkica
Good morning to all. Looking at the yearly chart, price could reach 2048, maybe until the end of the week? That would be interesting. Especially because there is no history data above 1921, which was the highest price Gold has ever reached. I'm in with bulls at 1935, targeting 1955.87 as a first resistance line on H4 chart, although 1947/1950 could act as a resistance as well. Pullback down to 1927.18 would be nice, let's see what market will bring to us. {image}
great job again brother so I will go ahead and sound stupid but how do you get all those week year etc supports on your chart? I've been meaning to ask for months but didn't want to sounds stupid but what do I have to lose lol
  • #3,044
  • Jul 28, 2020 2:32am Jul 28, 2020 2:32am
Quoting rayoub
{quote} great job again brother so I will go ahead and sound stupid but how do you get all those week year etc supports on your chart? I've been meaning to ask for months but didn't want to sounds stupid but what do I have to lose lol
Hi Ray,
there are no such thing as stupid questions.
These fibo lines are not just drawn on the screen, they are based on calculations that Prozor7 (my mentor) developed. And as you can see, they are perfect for analysis.
Always expect unexpected.
  • #3,045
  • Jul 28, 2020 2:51am Jul 28, 2020 2:51am
Quoting Skoljkica
{quote} Hi Ray, there are no such thing as stupid questions. These fibo lines are not just drawn on the screen, they are based on calculations that Prozor7 (my mentor) developed. And as you can see, they are perfect for analysis.
what will be next predition?
  • #3,046
  • Jul 28, 2020 2:59am Jul 28, 2020 2:59am
Gold did a nice move up and down. So the questions is how deep can it go?
I am looking at 1900.45/1898.48 as a first support line.
If it holds, price could go up to 1927.18. If that acts as a support, then up to 1955.87

If 1927.18 acts as a resistance, then price could go down to 1889.62/1878.78
Always expect unexpected.
  • #3,047
  • Jul 28, 2020 6:17am Jul 28, 2020 6:17am
Ray, not wanting to take any thunder... varioous pivots fibs out there is finding one you can work with then knowing how to trade it or just using them for levels

here are a couple i collected over time ones quite new to me the other one ive messed around with over the years, hope its ok to post here - see below

 

  1. ref levels im hoping 1934.60 holds it down or max 1943.70, i have one the pivots fibs i use 1922.80 as daily pivot, for me be nice for 1899.49 to be touched
  2. will look to get out around there PA pending
  3. though looking at PA right now could be a little spike to the upside time will tell

Attached Image(s) (click to enlarge)
Click to Enlarge Name: auto pvt.JPG Size: 81 KB
Click to Enlarge Name: fibs pivots 1.JPG Size: 78 KB
  • #3,048
  • Jul 28, 2020 10:16am Jul 28, 2020 10:16am
Hey everyone Skol, Rayoub and my others dear fellows any update about gold
  • #3,049
  • Jul 28, 2020 11:13am Jul 28, 2020 11:13am
Quoting Skoljkica
Gold did a nice move up and down. So the questions is how deep can it go? I am looking at 1900.45/1898.48 as a first support line. If it holds, price could go up to 1927.18. If that acts as a support, then up to 1955.87 If 1927.18 acts as a resistance, then price could go down to 1889.62/1878.78

Is 2048 still valid?
  • #3,050
  • Jul 28, 2020 8:02pm Jul 28, 2020 8:02pm
Gday folks,
just a bit of an idea but in elliot wave theory
gold silver etc its wave 5 is the longest and most agressive where in currencies its usually wave 3
how ever taking into consideration the move up to 1977 im takine as the end of wave 5
then we have wave a b c correction
so the move down two 1908 wave A
currently in wave B that can not extend above the wave 5 point
and wave C needs to extend past wave a by x amount percentage or some fibo
I dont remember the figures but you might be able to google it
so i am now expecting a move down past 1908 and this current up move not to extend past the 1977
where it starts to go down just have to watch PA, and sorry i dont remember the fugures percentage and or fibs to be more exact
  • #3,051
  • Jul 28, 2020 8:21pm Jul 28, 2020 8:21pm
Im going for short around here as think this would be the extension but time will tell i dont expect it to go above mr1
Attached Image (click to enlarge)
Click to Enlarge Name: levels.JPG Size: 80 KB
  • #3,052
  • Jul 29, 2020 12:43am Jul 29, 2020 12:43am
Hey skol thanks for the reply sorry im super late been busy trying to figure out the tweaks as I mentioned before. did well, but didn't do so well afterwards as always. good move, too much leverage, a little too soon. but would you mind maybe messaging or sharing that? I know might be too much to ask. if not no worries, I have been followin you and prozor on the other thread too. but also thanks forex dancer I'll play around and see what works best. . i haven't posted much recently but I'm going to try to get back to being on my shit. consistency is the hardest part. its not getting it right its consistently getting it right, enough times so that the wrongs don't matter. I've been doing that assbackwards.
  • #3,053
  • Jul 29, 2020 3:10am Jul 29, 2020 3:10am
Quoting Iscarter
{quote} Is 2048 still valid?
Yes it is, until Friday night I think price will reach it.
Always expect unexpected.
  • #3,054
  • Jul 29, 2020 3:31am Jul 29, 2020 3:31am
Quoting rayoub
Hey skol thanks for the reply sorry im super late been busy trying to figure out the tweaks as I mentioned before. did well, but didn't do so well afterwards as always. good move, too much leverage, a little too soon. but would you mind maybe messaging or sharing that? I know might be too much to ask. if not no worries, I have been followin you and prozor on the other thread too. but also thanks forex dancer I'll play around and see what works best. . i haven't posted much recently but I'm going to try to get back to being on my shit. consistency...
I'm sorry Ray, but it is not for sharing...
My advice is to take a look at an empty chart, just candles, that helped me a lot. I do that everyday, do an analysis on an empty chart and then compare it with Fibo lines.
Always expect unexpected.
  • #3,055
  • Jul 29, 2020 3:47am Jul 29, 2020 3:47am
I have a pending buy at 1959.00 which is activated.

I expect price will reach 1984.56 as a first bigger resistance line and then possible pullback to 1976.
If 1984.56 acts as a support, next target is 2002.29 as second bigger resistance line, pullback expected.
If 2002.29 acts as a support as well, 2048 could be reached.

Edit:
Don't forget FOMC minutes today.
Always expect unexpected.
  • #3,056
  • Jul 29, 2020 4:00am Jul 29, 2020 4:00am
That's great skolj! as always you are at your best ! may you shine more ...
I have a question From you bro ! Can you help me in it bro?

What's the forecast effect of FOMC news on gold and usd?

I got confused when I go after getting any info about it ! Can you help me out of it?
  • #3,057
  • Jul 29, 2020 4:14am Jul 29, 2020 4:14am
Quoting Itxtaha
That's great skolj! as always you are at your best ! may you shine more ... I have a question From you bro ! Can you help me in it bro? What's the forecast effect of FOMC news on gold and usd? I got confused when I go after getting any info about it ! Can you help me out of it?
FOMC Minutes are high impact news, which means volatility on the market could be high. Especially for USD symbols. Also, spread on Gold could be higher as well.
Good news for USD should bring price of Gold lower and vice versa.
No one knows what news will bring to us. It doesn't always play in a way we think it will. That's why they are unreliable, but they move price.

It would be interesting for price to hit 2048 tonight.
Always expect unexpected.
  • #3,058
  • Jul 29, 2020 4:16am Jul 29, 2020 4:16am
Thank you so much dear ! Be blessed ... Now I get it!
  • #3,059
  • Jul 29, 2020 4:18am Jul 29, 2020 4:18am
Quoting Skoljkica
I have a pending buy at 1959.00 which is activated. I expect price will reach 1984.56 as a first bigger resistance line and then possible pullback to 1976. If 1984.56 acts as a support, next target is 2002.29 as second bigger resistance line, pullback expected. If 2002.29 acts as a support as well, 2048 could be reached. Edit: Don't forget FOMC minutes today.
Where is SL?
  • #3,060
  • Jul 29, 2020 4:19am Jul 29, 2020 4:19am
Quoting Nanotech
{quote} Where is SL?
How much are you willing to loose.? That's your stop loss
3 traders viewing now