XAU/USD & XAG/USD - Gold & Silver Traders Thread | Page 2757 | Metals Mine

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XAU/USD & XAG/USD - Gold & Silver Traders Thread

  • #55,121
  • Dec 16, 2020 2:12pm Dec 16, 2020 2:12pm
This looks like the bigger picture
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Teerex
  • #55,122
  • Dec 16, 2020 3:18pm Dec 16, 2020 3:18pm
This looks like the bigger picture
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Teerex
  • #55,123
  • Dec 16, 2020 3:22pm Dec 16, 2020 3:22pm
Quoting Godisawoman
This looks like the bigger picture {image}
how do you trade that? do you mind putting in some entry and exit points? thanks.
In tea leaves we trust!
  • #55,124
  • Dec 16, 2020 3:30pm Dec 16, 2020 3:30pm
saying good bye to 25 bucks..... 32+ here we come.
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In tea leaves we trust!
  • #55,125
  • Dec 16, 2020 4:34pm Dec 16, 2020 4:34pm
Quoting Mcbeaners
{quote} how do you trade that? do you mind putting in some entry and exit points? thanks.
I'm looking to buy from the lower boundary. It's actually better to buy from the breakout of the wedge pointing downwards in an uptrend soo I shouldn't ha e closed completely ... Waiting on market time to buy...it may be dicey but..
I'm not selling tho.
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Teerex
  • #55,126
  • Dec 16, 2020 4:36pm Dec 16, 2020 4:36pm
I don't know entry or sl. I'm also watching silver since they are correlated.
Teerex
  • #55,127
  • Dec 17, 2020 8:44am Dec 17, 2020 8:44am
Wow flying
Teerex
  • #55,128
  • Dec 17, 2020 9:24am Dec 17, 2020 9:24am
Wow flying
Teerex
  • #55,129
  • Dec 18, 2020 2:52am Dec 18, 2020 2:52am
Trying a new entry
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Teerex
  • #55,130
  • Edited 5:12am Dec 18, 2020 4:58am | Edited 5:12am
Quoting Godisawoman
I don't know entry or sl.
Any given position can be lucky but without good trading fundamentals,
the market will consume you alive sooner or later.
  • #55,131
  • Dec 18, 2020 7:17am Dec 18, 2020 7:17am
Waiting for breakout of any of these correlated pairs... Silver might be first.
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Teerex
  • #55,132
  • Dec 18, 2020 7:24am Dec 18, 2020 7:24am
Quoting Jer21
{quote} Any given position can be lucky but without good trading fundamentals, the market will consume you alive sooner or later.
But if you trade price action you have to wait for price action. I open a position when I see a breakout. My sl under the boundary. The larger the wedge the more profit I can make.
I can't tell entry with my technique. But sl and tp yeah cuz they depend on entry.
Teerex
  • #55,133
  • Dec 18, 2020 8:19am Dec 18, 2020 8:19am
Haha silver flew up first
Teerex
  • #55,134
  • Dec 18, 2020 8:36am Dec 18, 2020 8:36am
Quoting Godisawoman
{quote} But if you trade price action you have to wait for price action. I open a position when I see a breakout. My sl under the boundary. The larger the wedge the more profit I can make. I can't tell entry with my technique. But sl and tp yeah cuz they depend on entry.
If you want to trade with high probability breakouts, I humbly suggest you explore this content. Larger datasets tend to be more reliable than simple eye test.

https://www.forexfactory.com/thread/...eory-analytics
  • #55,135
  • Dec 18, 2020 9:41am Dec 18, 2020 9:41am
Quoting Jer21
{quote} If you want to trade with high probability breakouts, I humbly suggest you explore this content. Larger datasets tend to be more reliable than simple eye test. https://www.forexfactory.com/thread/...eory-analytics
I really don't understand what was written here. Why all the grammar. Is he a professor?
If a person can't explain something in simple terms then he doesn't understand it himself.

I don't trade blindly even though I kind of am with gold. I trade higher time frames. I have some aud trades open rn.
I monitor correlated pairs. Trade breakouts on delayed pairs. That gives enough time to analyze and pick your trades. Also use economic information.
If you check weekly time frame you see some delays for sometimes up to 2 months. Enough time to find a good entry or just wait for breakout on the delayed pair.

If u wanna know more then dm I'm not saying more lol.
Teerex
  • #55,136
  • Dec 18, 2020 9:56am Dec 18, 2020 9:56am
I personally have not seen a time there was a breakout on one pair that didn't happen on another highly correlated pair... So it's kind of over 90percent guaranteed profit.
I will love to be proven wrong. We can help each other.
Teerex
  • #55,137
  • Dec 18, 2020 10:00am Dec 18, 2020 10:00am
Quoting Godisawoman
{quote} Do you ever just feel like there some dudes somewhere just waiting for you to enter a trade when you see a breakout...and then they reverse it so you lose and they make money? Getting sick of this crap. I'm gonna try trading only at market time from now on. If it still fails then I'm quitting forex for good. And I've tried all the methods. It's all farce. Technical analysis still the best but even that is farce. Only way I've been able to curb losses of recent is by releasing little fund into my trading account every week.
I only showed you that content because I hate reading posts like this and I'm a huge Nipsey fan. From my experience, quantitative beats technical analysis in the long run.
  • #55,138
  • Dec 18, 2020 11:02am Dec 18, 2020 11:02am
Quoting Jer21
{quote} I only showed you that content because I hate reading posts like this and I'm a huge Nipsey fan. From my experience, quantitative beats technical analysis in the long run.
The problem I have always had with technical analysis... and I'm sure most other people also... Is measurement. You can never be sure of your trend lines.
I have not found a perfect measurement technique so far... Just close enough. But that isn't good enough.

This is the reason I use correlated pairs when I trade. You can kind of see into the future.
Teerex
  • #55,139
  • Dec 18, 2020 11:05am Dec 18, 2020 11:05am
Quoting Godisawoman
{quote} I monitor correlated pairs. Trade breakouts on delayed pairs..
  • #55,140
  • Dec 18, 2020 12:27pm Dec 18, 2020 12:27pm
people love trendlines - lord knows why. under hmm say 4h they are a complete waste of time. horizontal price rules brah's. especially under 4h.

this is how i chart under 4h - silver

i think silver is being loaded up for next week (this normally happens) not to say it won't drift south by 60 cents. so we should be looking to buy the dips from now until monday morning london time imo.

buy inside the box imo.
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In tea leaves we trust!
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