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Gold Mining - Using Each Trading Day's Trend

  • #3,181
  • Aug 10, 2020 2:03am Aug 10, 2020 2:03am
Quoting rayoub
trade idea.. sell 2032 area down to 2015-2020 area. expecting 2015 to provide us with a bounce to the daily pivot at 2040 area, where another sell can be placed with a tp around 2007 area. if bulls can break and maintain price above 2042 this idea is invalidated and will look for buys from that area on. {image}
Yes Ray, all of that area have bearish pressure. Nice one brother.
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  • #3,182
  • Aug 10, 2020 2:39am Aug 10, 2020 2:39am
Good morning to all.
My analysis is similar to yours.

I prepared my sell orders below 2032.90 which is support/resistance line.
If price finds it as a support I expect 2042.23 to be reached, where I will move sell orders.
If it is resistance, then down to 2015.67 as a first major support with pullback up to 2025.32
TP I'm aiming for is 1989.11
Edit: Price could also go up to 2047.23/2050.43, there are 3 major support/resistance lines as well.
Attached Image
Always expect unexpected.
  • #3,183
  • Aug 10, 2020 7:41am Aug 10, 2020 7:41am
Gold slammed me couple of times below 2032.07 but it looks like price doesn't have strength to hold 2032.07, so I'm in again.
TP for second order is 2020.63
I will hold first order down to 1989.11
Always expect unexpected.
  • #3,184
  • Aug 10, 2020 7:57am Aug 10, 2020 7:57am
Quoting Skoljkica
Gold slammed me couple of times below 2032.07 but it looks like price doesn't have strength to hold 2032.07, so I'm in again. TP for second order is 2020.63 I will hold first order down to 1989.11

I was almost butchered by gold last two weeks sir and my psychological side was really devastated even I knew it is part of this risky game. So, I try to strickly monitor this movement now and also aiming to 1980 areas as well. Thanks to all the analysis here. I have some similar ideas with you all here but not that accurate.
The Past mistakes are your guides to provide you directions of the present.
  • #3,185
  • Aug 10, 2020 7:59am Aug 10, 2020 7:59am
Quoting Skoljkica
Gold slammed me couple of times below 2032.07 but it looks like price doesn't have strength to hold 2032.07, so I'm in again. TP for second order is 2020.63 I will hold first order down to 1989.11

If you don't mind sir. What time frame is best suit for entry in the markets, especially gold. Thanks again,.
The Past mistakes are your guides to provide you directions of the present.
  • #3,186
  • Aug 10, 2020 8:11am Aug 10, 2020 8:11am
Quoting ministry
{quote} If you don't mind sir. What time frame is best suit for entry in the markets, especially gold. Thanks again,.
Time frame depends on what type of trader are you.
If I'm scalping I usually look at M5 and M15 chart.
But if I'm going to leave trade for longer run than I'm looking at H1, H4 and D1 chart. Most suitable for me is H4.
Always expect unexpected.
  • #3,187
  • Aug 10, 2020 8:49am Aug 10, 2020 8:49am
Quoting BiteFX
Trade Idea For Monday August 10, 2020. Last week's Head and Shoulders pattern still valid. And as such, on the chart... 1. Sell P. 2040.76 down to S. 2003.24 2. Buy S. 2003.24 or S. 1982.24 up to 2010.24 Pro Tip: The trend is your friend. This is what it means: find a trade set up in the direction of the trend and take it. What the chart presents to you as a trend(and not the trend) is also important. We Stay Alive guys... Happy New Week. {image}
Alright, am good to go.
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  • #3,188
  • Aug 10, 2020 9:00am Aug 10, 2020 9:00am
Quoting Skoljkica
Edit: Price could also go up to 2047.23/2050.43, there are 3 major support/resistance lines as well. {image}
2050.43 on the way. It could act as a resistance and fall down to 2035.96/2032.07 as a new buy opportunity up to 2068.79-2079.55 again
Always expect unexpected.
  • #3,189
  • Edited 10:51am Aug 10, 2020 10:29am | Edited 10:51am
Quoting Skoljkica
{quote} 2050.43 on the way. It could act as a resistance and fall down to 2035.96/2032.07 as a new buy opportunity up to 2068.79-2079.55 again

Thank God, the market fall back to 2031 right now and got out 70 percent of my positions. huh. the emotion is real. I will trade a few positions after this. Gold is crazy.

based on the scenario now sir, will the gold continue to fall to 2020? thanks again. 1H chart is a confirmation bearish and with the 4H is also forming a confirmation bearish but not yet finish.
The Past mistakes are your guides to provide you directions of the present.
  • #3,190
  • Aug 10, 2020 11:25am Aug 10, 2020 11:25am
Gold is down to 2027 guys from 2050 and my sell positions were at 2032 to 2034 and 2036. Got to exit almost my entire positions. One sell position that is left with the smallest lot size with the TP of 1988, seems impossible but I will let it float for the time being.
The Past mistakes are your guides to provide you directions of the present.
  • #3,191
  • Aug 10, 2020 11:33am Aug 10, 2020 11:33am
Chart Update
A probable big Head and Shoulders pattern has formed on the one H1 Timeframe, with 2017.24/2010.24 as neckline.
If confirmed, we will see S. 2003.24 first and then S. 1892.24.

We Stay Alive
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200810_173226.jpg Size: 91 KB
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  • #3,192
  • Aug 10, 2020 11:34am Aug 10, 2020 11:34am
Quoting ministry
Gold is down to 2027 guys from 2050 and my sell positions were at 2032 to 2034 and 2036. Got to exit almost my entire positions. One sell position that is left with the smallest lot size with the TP of 1988, seems impossible but I will let it float for the time being.
My sell position was at 2047,so you can imagine what's happening on this end. I'd say patience pays, and believe in your entries, I've lost alot with gold, that's why I always have one entry, not several, dont want a heart attack
  • #3,193
  • Aug 10, 2020 11:58am Aug 10, 2020 11:58am
Quoting Iscarter
{quote} My sell position was at 2047,so you can imagine what's happening on this end. I'd say patience pays, and believe in your entries, I've lost alot with gold, that's why I always have one entry, not several, dont want a heart attack
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  • #3,194
  • Aug 10, 2020 11:58am Aug 10, 2020 11:58am
seems 2050 area id the trick to knock it back down, thinking we will get a retest of 2036 and then a drop down to 2015 area.
dollar seems to be on a correction as well
  • #3,195
  • Aug 10, 2020 4:47pm Aug 10, 2020 4:47pm
Trade Idea For Tuesday August 11, 2020
As on the chart,
We are looking at the bearish leg extending to about S. 2003.96/ S. 1991.96.
Will be selling P. 2029.04.

I Stay Alive
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200810_223604.jpg Size: 98 KB
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  • #3,196
  • Edited 10:45pm Aug 10, 2020 7:56pm | Edited 10:45pm
Gold is now at 2020 area and touches 2015 area in a bit and spike upward. Any ideas guys. Thanks
The Past mistakes are your guides to provide you directions of the present.
  • #3,197
  • Edited Aug 11, 2020 12:43am Aug 10, 2020 10:46pm | Edited Aug 11, 2020 12:43am
I just made a buy entry at 2019 with the target of 2025-2028. Just one position by the way.



and few hours after the market continue to crash until 2009. gold really sucks. last night I was worried with my sell positions and I didn't let it go rather than exit all of it early and now its going down while I have my buy entry.
The Past mistakes are your guides to provide you directions of the present.
  • #3,198
  • Aug 11, 2020 1:20am Aug 11, 2020 1:20am
Quoting BiteFX
Trade Idea For Tuesday August 11, 2020 As on the chart, We are looking at the bearish leg extending to about S. 2003.96/ S. 1991.96. Will be selling P. 2029.04. I Stay Alive {image}
Reached and Took profit... Can't wait till it gets to S. 1991.96 today... Sote
Stay Alive Guys
Learn... Work Hard... Trade Alone
  • #3,199
  • Aug 11, 2020 1:23am Aug 11, 2020 1:23am
Quoting ministry
I just made a buy entry at 2019 with the target of 2025-2028. Just one position by the way. and few hours after the market continue to crash until 2009. gold really sucks. last night I was worried with my sell positions and I didn't let it go rather than exit all of it early and now its going down while I have my buy entry.
Brother, the back bone of this thread is that... You learn to stick to the game plan daily.
You may lose a couple of trades, but when you catch winners like yesterday's till today, you suck it dry.

Well done
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  • #3,200
  • Aug 11, 2020 1:31am Aug 11, 2020 1:31am
Quoting BiteFX
Trade Idea For Tuesday August 11, 2020 As on the chart, We are looking at the bearish leg extending to about S. 2003.96/ S. 1991.96. Will be selling P. 2029.04. I Stay Alive {image}
Wow! Smashed, but was already out...
This is massive!
Learn... Work Hard... Trade Alone
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