Gold Mining - Using Each Trading Day's Trend | Page 165 | Metals Mine

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Gold Mining - Using Each Trading Day's Trend

  • #3,281
  • Aug 24, 2020 10:50am Aug 24, 2020 10:50am
from looking am expecting a retest of 1939, 1944 soon and then a drop. if price closes strongly below 1929 before a retest of 1939/44, then will sell 1929 down as well.

support has held there for quite some time but looks like its getting hit 1 too many times so we will see where price wants to go.
  • #3,282
  • Aug 24, 2020 10:54am Aug 24, 2020 10:54am
Quoting rayoub
{quote} So good late morning all!!! Hope were doing well i see you back bite wont lie brother motivation to post diminishes when you leave the thread. although I have honestly been trying to post once a day to keep us alive. Anyways from what I've seen my analysis from Friday is still being followed, I had expected a retest of 1914, and then a bullish movement back towards 1957, this has been completed. I believe bears will have this unless 1966 is broken and closed nicely above. if not expecting price to go lower to...

I love the way you do the following up on your analysis...Thank you
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  • #3,283
  • Aug 24, 2020 11:03am Aug 24, 2020 11:03am
on daily get a little bit of a better picture of why am thinking of shorts now
1st picture shows the trendline 2nd shows close up of the area
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  • #3,284
  • Edited 12:59pm Aug 24, 2020 11:18am | Edited 12:59pm
Quoting BiteFX
{quote} I love the way you do the following up on your analysis...Thank you
Lol my life man. and I know the rules are only xauusd, just was checking out dxy have been keeping an eye on it, just because its good to know whats going on with the pair gold is being traded against. just watching for strengthening or weakening of the dollar to cross with what my analysis says of gold.

not the best channel but definitely has been respected whether price was below or above. monthly 200ema is also right about same place as channel support interesting just to watch.

update: THIS IS MONTHLY CHART FOR DXY not xau.
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  • #3,285
  • Aug 24, 2020 11:45am Aug 24, 2020 11:45am
Quoting rayoub
on daily get a little bit of a better picture of why am thinking of shorts now 1st picture shows the trendline 2nd shows close up of the area {image} {image}
Yes, you are on point brother. The D1 chart is really giving off scent. Will follow up the market accordingly.
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  • #3,286
  • Aug 24, 2020 1:55pm Aug 24, 2020 1:55pm
Quoting rayoub
from looking am expecting a retest of 1939, 1944 soon and then a drop. if price closes strongly below 1929 before a retest of 1939/44, then will sell 1929 down as well. support has held there for quite some time but looks like its getting hit 1 too many times so we will see where price wants to go.
1929 closed below, retested and rejected. next support down by 1913-1917, personally expecting 1907 area
  • #3,287
  • Aug 24, 2020 2:52pm Aug 24, 2020 2:52pm
Analysis for Day Traders. Divergence on weekly chart, overbought on monthly chart. Day is consolidating for either resume uptrend or deep correction.

Inserted Video
P.S. Trade with the discipline of Money Management and Risk Management.
  • #3,288
  • Aug 24, 2020 4:35pm Aug 24, 2020 4:35pm
Quoting farukh
Analysis for Day Traders. Divergence on weekly chart, overbought on monthly chart. Day is consolidating for either resume uptrend or deep correction. https://youtu.be/QDBMbRq_b-w
Nice one Farukh
I enjoyed your analysis man.
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  • #3,289
  • Aug 24, 2020 4:40pm Aug 24, 2020 4:40pm
Quoting farukh
Analysis for Day Traders. Divergence on weekly chart, overbought on monthly chart. Day is consolidating for either resume uptrend or deep correction. https://youtu.be/QDBMbRq_b-w
Daily candles show a wedge formation which would suggest another significant move up or down in the coming days. Personally I would be afraid to expose myself to the upside move.
careful not to step in a pile of it
  • #3,290
  • Aug 24, 2020 4:43pm Aug 24, 2020 4:43pm
Trade Ideas as on the chart.
We follow the market, not lead the market.
1. Sell Pivot
2. Sell Sell level/Breakout
3. Buy pivot
4. Buy Buy level/Breakout

Pro Tip: Yesterday's successful performance does not guarantee today's successful performance.

Stay Alive
Attached Image (click to enlarge)
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  • #3,291
  • Aug 24, 2020 4:48pm Aug 24, 2020 4:48pm
Quoting bulltrap
{quote} Daily candles show a wedge formation which would suggest another significant move up or down in the coming days. Personally I would be afraid to expose myself to the upside move.
Nicely said... The way Gold drops is like a rock falling off a cliff... Too too fast! Gets me thinking always.
Let's follow up on the market anyways.
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  • #3,292
  • Aug 24, 2020 7:28pm Aug 24, 2020 7:28pm
Quoting BiteFX
{quote} Nice one Farukh I enjoyed your analysis man.
Thanks mate!

Quoting bulltrap
{quote} Daily candles show a wedge formation which would suggest another significant move up or down in the coming days. Personally I would be afraid to expose myself to the upside move.
At this moment, you are right. But if daily closes above 2074 or price makes bottom showing significant support then currently fundamentals are very strong to bring it further high. And no one knows it may continue for next couple of years or so.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #3,293
  • Aug 24, 2020 7:52pm Aug 24, 2020 7:52pm
Quoting BiteFX
Trade Ideas as on the chart. We follow the market, not lead the market. 1. Sell Pivot 2. Sell Sell level/Breakout 3. Buy pivot 4. Buy Buy level/Breakout Pro Tip: Yesterday's successful performance does not guarantee today's successful performance. Stay Alive {image}
great analysis brother!!!
  • #3,294
  • Aug 24, 2020 8:01pm Aug 24, 2020 8:01pm
trade ideas, looking to sell 1939 and 1929 with 1st tgt area around 1914, ext to 1900.
this bearish move will be invalidated if gold can break and close above 1944, if this occurs will look to buy 1939 with 1st tgt at 1953, ext to 1966.

overall bearish move from the hns pattern i posted will be invalidated with a strong close above 1966
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  • #3,295
  • Aug 25, 2020 11:34am Aug 25, 2020 11:34am
Quoting rayoub
trade ideas, looking to sell 1939 and 1929 with 1st tgt area around 1914, ext to 1900. this bearish move will be invalidated if gold can break and close above 1944, if this occurs will look to buy 1939 with 1st tgt at 1953, ext to 1966. overall bearish move from the hns pattern i posted will be invalidated with a strong close above 1966 {image} {image}
1914 reached. am watching on sidelines now to see next move
  • #3,296
  • Aug 25, 2020 1:22pm Aug 25, 2020 1:22pm
Quoting rayoub
{quote} 1914 reached. am watching on sidelines now to see next move
thinking of selling 1923 down to last weeks low round 1911. potentially going to 1900 area
  • #3,297
  • Aug 25, 2020 4:26pm Aug 25, 2020 4:26pm
Quoting rayoub
{quote} 1914 reached. am watching on sidelines now to see next move
Ouk.
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  • #3,298
  • Aug 25, 2020 4:27pm Aug 25, 2020 4:27pm
Quoting rayoub
{quote} thinking of selling 1923 down to last weeks low round 1911. potentially going to 1900 area
Hmmm
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  • #3,299
  • Aug 25, 2020 4:41pm Aug 25, 2020 4:41pm
Trade Ideas as on the chart for Wednesday August 26, 2020.
1. Buy Breakout
2. Buy Midpoint
3. Buy Pivot-1925.64
4. Sell Support-1918.64

Pro Tip : Leverage is a double-edged sword. If you think of profit, think about loss also. Don't over leverage your equity.

Stay Alive
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  • #3,300
  • Aug 25, 2020 11:49pm Aug 25, 2020 11:49pm
so trade analysis is as follows, am looking to sell 1936 and 1927 down to 1st tgt 1917 ext to 1907.
if 1917 is closed strong below will add short from here to 1907.
1929 has been quite a resistance
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