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Gold Mining - Using Each Trading Day's Trend

  • #3,761
  • Nov 3, 2020 9:29pm Nov 3, 2020 9:29pm
Quoting OwaisJam
HI could anyone plz tell me does LME cooper inventories news impact gold
Hello, sorry brother this is coming late...I really don't know. But other miners may.
Learn... Work Hard... Trade Alone
  • #3,762
  • Nov 3, 2020 9:31pm Nov 3, 2020 9:31pm
Wow! That drop so sharp. He! He!
Learn... Work Hard... Trade Alone
  • #3,763
  • Nov 3, 2020 10:25pm Nov 3, 2020 10:25pm
this morning, gold has crazy drop down then turn up like a roller coaster =))
  • #3,764
  • Nov 4, 2020 3:40am Nov 4, 2020 3:40am
Quoting OwaisJam
HI could anyone plz tell me does LME cooper inventories news impact gold
Hi Jam,
from what I've been studying, copper and gold do have a correlation, but not that strong.
Usually when news were better for copper, gold was rising, and vise versa, but it wasn't huge impact and it didn't last long.
Always expect unexpected.
  • #3,765
  • Nov 4, 2020 3:52am Nov 4, 2020 3:52am
Quoting Skoljkica
{quote} Hi Jam, from what I've been studying, copper and gold do have a correlation, but not that strong. Usually when news were better for copper, gold was rising, and vise versa, but it wasn't huge impact and it didn't last long.
i was confused coz when medium impact copper news comes my technicals fail most of the times and yes it doesnot last long so its better to stay away that time i trade smaller time frames so need to be careful
Thank you
  • #3,766
  • Nov 4, 2020 3:54am Nov 4, 2020 3:54am
Good day to all.
I am waiting for an entry at 1889.98/1895.55

TP1 1899.64
TP2 1909.91
TP3 1934.69 (I doubt price will reach it today, but hey this is Forex)
SL tight
Always expect unexpected.
  • #3,767
  • Nov 4, 2020 4:02am Nov 4, 2020 4:02am
Quoting Skoljkica
Good day to all. I am waiting for an entry at 1889.98/1895.55 TP1 1899.64 TP2 1909.91 TP3 1934.69 (I doubt price will reach it today, but hey this is Forex) SL tight
according to my setup i am long in m5 at this moment but last these 2 days i am failing most of the times.
i hope it is coz of us elections.
  • #3,768
  • Nov 4, 2020 4:04am Nov 4, 2020 4:04am
Quoting OwaisJam
{quote} i was confused coz when medium impact copper news comes my technicals fail most of the times and yes it doesnot last long so its better to stay away that time i trade smaller time frames so need to be careful Thank you
Trust your analysis, not news. They are here to move the price and confuse traders (from my point of view). But we can always use them in our favor.
Always expect unexpected.
  • #3,769
  • Nov 4, 2020 4:13am Nov 4, 2020 4:13am
Quoting Skoljkica
{quote} Trust your analysis, not news. They are here to move the price and confuse traders (from my point of view). But we can always use them in our favor.
HI
i would be thankful if u could spare a minute on this mg
my question is if i am on m15 gold chart and a high impact news comes if i have a very strong technical system can it show me the right place to enter.
coz what i do is to stay away during news.
Thank you
  • #3,770
  • Nov 4, 2020 4:34am Nov 4, 2020 4:34am
Quoting OwaisJam
{quote} HI i would be thankful if u could spare a minute on this mg my question is if i am on m15 gold chart and a high impact news comes if i have a very strong technical system can it show me the right place to enter. coz what i do is to stay away during news. Thank you
If I'm not already in the trade I also stay away during the high impact news. We don't know what is price going to do next, especially during the news.

It all depends are you a scalper, day trader or investor.
What is the right place to enter? Sell high and buy low? We can't control the market.
You should make a plan, decide how much are you willing to win and lose and stick to that plan. Also check your plan, make an analysis of your trades.
That's it.
Always expect unexpected.
  • #3,771
  • Nov 4, 2020 5:34am Nov 4, 2020 5:34am
Quoting Skoljkica
{quote} If I'm not already in the trade I also stay away during the high impact news. We don't know what is price going to do next, especially during the news. It all depends are you a scalper, day trader or investor. What is the right place to enter? Sell high and buy low? We can't control the market. You should make a plan, decide how much are you willing to win and lose and stick to that plan. Also check your plan, make an analysis of your trades. That's it.
yes i got your point next time i wont repeat high impact news mistakes
one wrong entry and u start to doubt your skills.
God Bless you
  • #3,772
  • Nov 4, 2020 5:52am Nov 4, 2020 5:52am
Quoting Skoljkica
{quote} If I'm not already in the trade I also stay away during the high impact news. We don't know what is price going to do next, especially during the news. It all depends are you a scalper, day trader or investor. What is the right place to enter? Sell high and buy low? We can't control the market. You should make a plan, decide how much are you willing to win and lose and stick to that plan. Also check your plan, make an analysis of your trades. That's it.
M5 gold i think coz of mental stress i made a mistake in blue box entry otherwise entry on next swing is perfect
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  • #3,773
  • Nov 4, 2020 6:24am Nov 4, 2020 6:24am
Quoting Skoljkica
Good day to all. I am waiting for an entry at 1889.98/1895.55 TP1 1899.64 TP2 1909.91 TP3 1934.69 (I doubt price will reach it today, but hey this is Forex) SL tight
TP2 almost hit. One more push.

I expect price to move down to 1899.64/1897.92 as a new buy opportunity.
If that happens I expect 1915.28/1916.31 to act as next resistance.
Always expect unexpected.
  • #3,774
  • Nov 4, 2020 8:16am Nov 4, 2020 8:16am
Quoting Skoljkica
{quote} TP2 almost hit. One more push. I expect price to move down to 1899.64/1897.92 as a new buy opportunity. If that happens I expect 1915.28/1916.31 to act as next resistance.
i am very much sure about this coz no chance of going down now but retracement.
  • #3,775
  • Nov 4, 2020 4:36pm Nov 4, 2020 4:36pm
Trade Idea
1899.00 the key level for the next trading day.
Price is currently above it, there will be a test and retest.
Action follow down to the retest, observe price action, then trade accordingly.
We Stay Alive
Learn... Work Hard... Trade Alone
  • #3,776
  • Nov 4, 2020 5:40pm Nov 4, 2020 5:40pm
Quoting BiteFX
Trade Idea 1899.00 the key level for the next trading day. Price is currently above it, there will be a test and retest. Action follow down to the retest, observe price action, then trade accordingly. We Stay Alive
nice analysis brother. i will be trying to get back to it, but am watching 1905 which is wr1 if price can pass might have a smalll buy opportunity up to 1910 area. if 1905 is broken price will probably find daily pp which is right around 1899 as you said. if price breaks below this we have ds1 at 1887 which was used as support yesterday as well. and below that is weekly pivot. if price can pass 1910, we will get a shot at dr1 around 1917 and then potentially even to 1933 wr2 area if price can hold above 1920.
  • #3,777
  • Nov 5, 2020 3:04am Nov 5, 2020 3:04am
Good day to all.

My plan for today
Buy at 1916.31/1912.49
TP1 1924.53
TP2 1934.69 (from there I expect pullback down to 1924.53, also possible 1916.31)
TP3 1951.13 (until the end of the day)
SL tight
Always expect unexpected.
  • #3,778
  • Nov 5, 2020 4:35am Nov 5, 2020 4:35am
Quoting Skoljkica
Good day to all. My plan for today Buy at 1916.31/1912.49 TP1 1924.53 TP2 1934.69 (from there I expect pullback down to 1924.53, also possible 1916.31) TP3 1951.13 (until the end of the day) SL tight
there is also a slight chance of going down in m5 but not confirmed.
  • #3,779
  • Edited 9:27pm Nov 5, 2020 1:00pm | Edited 9:27pm
Quoting Skoljkica
Good day to all. My plan for today Buy at 1916.31/1912.49 TP1 1924.53 TP2 1934.69 (from there I expect pullback down to 1924.53, also possible 1916.31) TP3 1951.13 (until the end of the day) SL tight
Skol quick qurstion when you place a tight sl , is that about 21 pips give or take a few? Or tighter than that, just trying to tweak my methods sir, when I place too tight of a sl it gets hit immediately
  • #3,780
  • Nov 6, 2020 2:22am Nov 6, 2020 2:22am
Quoting rayoub
{quote} Skol quick qurstion when you place a tight sl , is that about 21 pips give or take a few? Or tighter than that, just trying to tweak my methods sir, when I place too tight of a sl it gets hit immediately
My SL is 34 pips.
The loss is not that big and it leaves price enough space to move. Although, looking at gold and its moving, SL is to small, but I'm not willing to lose more on a trade.
Always expect unexpected.
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