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Gold Mining - Using Each Trading Day's Trend

  • #3,381
  • Sep 7, 2020 4:12pm Sep 7, 2020 4:12pm
Quoting BiteFX
{quote} One out of two exceptions I have is if the market gaps to either of the take profits, then I will decide on that move. Otherwise, it is as it is.
The second exception is if the space in-between sell and buy has a i.weekly, ii.monthly or iii.yearly level there. Then entry will be made from that level instead of buy or sell level.
Learn... Work Hard... Trade Alone
  • #3,382
  • Sep 7, 2020 4:14pm Sep 7, 2020 4:14pm
Quoting BiteFX
Trade Ideas as on the Chart. Limit orders, stop losses and take profits as on the chart... When one is activated first, I will delete the other order. The tweaked Fibo parameters provide its own stop loss and take profit levels. MACD still showing bearish pressure. We Stay Alive {image}
For this analysis, market is sitting on a monthly breakout.
Let's expect huge volatility.
And
Stay Alive.
Learn... Work Hard... Trade Alone
  • #3,383
  • Sep 7, 2020 5:28pm Sep 7, 2020 5:28pm
Quoting BiteFX
{quote} For this analysis, market is sitting on a monthly breakout. Let's expect huge volatility. And Stay Alive.




Thanks Man. This gives me another perspective towards gold in a good side. It takes time upon waiting and skill to master it but it could possibly be rewarding once you get used how gold moves in the market. So much to learn but I could see opportunities in Gold since last September of 2019.
The Past mistakes are your guides to provide you directions of the present.
  • #3,384
  • Sep 7, 2020 10:17pm Sep 7, 2020 10:17pm
Alright, buy was activated, sell deleted.
Anything is possible man...stop loss or take profit, one thing is sure.
...I stick to the game plan daily.
Learn... Work Hard... Trade Alone
  • #3,385
  • Sep 7, 2020 10:32pm Sep 7, 2020 10:32pm
Quoting BiteFX
Trade Ideas as on the Chart. Limit orders, stop losses and take profits as on the chart... When one is activated first, I will delete the other order. The tweaked Fibo parameters provide its own stop loss and take profit levels. MACD still showing bearish pressure. We Stay Alive {image}
For today it was buy, then it took stop loss...31.2pips (312 points)

This is Forex man, anything is possible!
Learn... Work Hard... Trade Alone
  • #3,386
  • Sep 7, 2020 10:50pm Sep 7, 2020 10:50pm
Quoting BiteFX
{quote} For today it was buy, then it took stop loss...31.2pips (312 points) This is Forex man, anything is possible!
Former buy now turned new sell entry.
*this requires guts o, and a good calculation of position size.*
or
Wait for tomorrow's parameters...But again, anything is possible!
So,
I Stay Alive.
Learn... Work Hard... Trade Alone
  • #3,387
  • Sep 7, 2020 10:56pm Sep 7, 2020 10:56pm
Quoting BiteFX
{quote} Former buy now turned new sell entry. *this requires guts o, and a good calculation of position size.* or Wait for tomorrow's parameters...But again, anything is possible! So, I Stay Alive.
It is a limit order wih stop loss at former sell ... If it is not activated, no wahala.
Learn... Work Hard... Trade Alone
  • #3,388
  • Sep 7, 2020 11:00pm Sep 7, 2020 11:00pm
Quoting BiteFX
{quote} It is a limit order wih stop loss at former sell ... If it is not activated, no wahala.
And has to before going to sell take profit. Otherwise, deleted... Am watching
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  • #3,389
  • Sep 8, 2020 12:07am Sep 8, 2020 12:07am
Chart update
MACD with settings as on the chart is showing that former buy level, a former support, has turned resistance(this is known as change of polarity principle).

So, the selling continues to take profit...anything is possible! This is Forex.
Attached Image (click to enlarge)
Click to Enlarge Name: 20200908-060330.png Size: 96 KB
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  • #3,390
  • Sep 8, 2020 12:10am Sep 8, 2020 12:10am
Quoting BiteFX
Chart update MACD with settings as on the chart is showing that former buy level, a former support, has turned resistance(this is known as change of polarity principle). So, the selling continues to take profit...anything is possible! This is Forex. {image}
I am not insinuating that this is where the market will stop or turn.
I am only confining myself to my trading system rules of engagement...
Stick to the game plan daily, No greed, No fear.
Learn... Work Hard... Trade Alone
  • #3,391
  • Sep 8, 2020 1:05am Sep 8, 2020 1:05am
Stop loss hit for the second time today...I wait till tomorrow's parameters.
Not Sote...But am still very much Alive in the game.
Learn... Work Hard... Trade Alone
  • #3,392
  • Sep 8, 2020 2:03am Sep 8, 2020 2:03am
Quoting BiteFX
Stop loss hit for the second time today...I wait till tomorrow's parameters. Not Sote...But am still very much Alive in the game.
Don't forget, a good enough trading system has losses, but the winnings overtime makes the trader profitable.

Losses followed today's trade idea, and so has been profits before.

The rule here is to Stay Alive long enough so you can be profitable.
Attached Image (click to enlarge)
Click to Enlarge Name: 20200908-075806.png Size: 75 KB
Learn... Work Hard... Trade Alone
  • #3,393
  • Sep 8, 2020 2:19am Sep 8, 2020 2:19am
Quoting BiteFX
{quote} Don't forget, a good enough trading system has losses, but the winnings overtime makes the trader profitable. Losses followed today's trade idea, and so has been profits before. The rule here is to Stay Alive long enough so you can be profitable. {image}
Ouk, dealt with that but remaining this
Attached Image (click to enlarge)
Click to Enlarge Name: 20200908-081659.png Size: 37 KB
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  • #3,394
  • Sep 8, 2020 3:27am Sep 8, 2020 3:27am
Quoting BiteFX
{quote} Don't forget, a good enough trading system has losses, but the winnings overtime makes the trader profitable. Losses followed today's trade idea, and so has been profits before. The rule here is to Stay Alive long enough so you can be profitable. {image}
It is said so many times but we must not forget it. We always need to stick to our plan. Losses are part of it as well and if person can't deal with it, this is not the job for him/her. Important is to make your profits bigger and losses smaller. If that isn't happening, than plan should be reconsidered.
Always expect unexpected.
  • #3,395
  • Sep 8, 2020 3:45am Sep 8, 2020 3:45am
Good day to all.
I'm expecting price to reach 1919.62 as a first support line, but I think it won't hold it.
So I expect down to 1904.55/1902.77 where price could find support.
From there up to 1941.15/1950.47 where we have cluster support of 5 fibo lines. If that is broken, I expect 1965.26/1973.08 to be reached.
Always expect unexpected.
  • #3,396
  • Edited 8:17am Sep 8, 2020 8:00am | Edited 8:17am
I've just noticed this, I thought it was a "leftover" from an indicator.
Yesterdays candle where price didn't move a pip in one hour.
Attached Image
Always expect unexpected.
  • #3,397
  • Sep 8, 2020 8:26am Sep 8, 2020 8:26am
Quoting Skoljkica
I've just noticed this, I thought it was a "leftover" from an indicator. Yesterdays candle where price didn't move a pip in one hour. {image}
Hmmm!
Although it happens, but not quite often on higher time frames.
Learn... Work Hard... Trade Alone
  • #3,398
  • Sep 8, 2020 11:32am Sep 8, 2020 11:32am
This chart pictures my trade ideas everyday.
Stop loss is stop loss.
Take profit is take profit.
Entries are entries and based on price movement.

Tweaked Fibo sets the risk reward(SL and TP)

Although, market can move more than these levels no doubts, but...
This is how I Stay Alive.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20200908_135228.jpg Size: 46 KB
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  • #3,399
  • Sep 8, 2020 2:59pm Sep 8, 2020 2:59pm
Was too busy, didn't place any entry
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20200908-220350.png Size: 112 KB
  • #3,400
  • Sep 8, 2020 4:18pm Sep 8, 2020 4:18pm
Trade Ideas as on the Chart.
With a bullish engulfing pattern on the H4 time frame and a bullish pin bar reversal signal on D1, Market's decision is final... Mine is only a projection.
MACD showing bullish intent...
We Stay Alive...
Attached Image (click to enlarge)
Click to Enlarge Name: 20200908-220851.png Size: 111 KB
Learn... Work Hard... Trade Alone
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