Pro7 PA trading analysis 28+GOLD | Page 234 | Metals Mine

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Pro7 PA trading analysis 28+GOLD

  • #4,661
  • Apr 27, 2021 8:57pm Apr 27, 2021 8:57pm
For a beginner who Doesn't know how to trade The fundamentals(news) , A person who Is just on a the first step of this ladder , Should only watch that movement occur during news ! If he cannot predict the move by news he must observe that where does that movement stops - and start to take seats there the news move got slow and run against that movement !

Note: some news have also permanent or Long effect
  • #4,662
  • Apr 27, 2021 9:02pm Apr 27, 2021 9:02pm
Quoting aeternum
{quote} I also have a 1767 support level from 15 April resistance and 19/20 April support level. Expecting a retest towards 1774 first and see what PA does. Edit - price is currently oversold from 15m to 1h time frames. But bearish action may continue. FOMC will likely cause a strong whiplashing though.
We have a bullish candle on 30m bar in oversold territory, currently still being capped by 1770. Breaking 1770 would give us a chance to see 1774. Downwards movement still being capped by 1767.32 support level.
Attached Image (click to enlarge)
Click to Enlarge Name: 2ef0801672428d057d4e5a87d0cd1267.png Size: 77 KB
A 1 pip gain is better than a 1 pip loss.
  • #4,663
  • Apr 27, 2021 9:07pm Apr 27, 2021 9:07pm
Quoting Itxtaha
For a beginner who Doesn't know how to trade The fundamentals(news) , A person who Is just on a the first step of this ladder , Should only watch that movement occur during news ! If he cannot predict the move by news he must observe that where does that movement stops - and start to take seats there the news move got slow and run against that movement ! Note: some news have also permanent or Long effect
So buying now is not a maker of money at this present time?
  • #4,664
  • Apr 27, 2021 9:15pm Apr 27, 2021 9:15pm
Quoting Mosese
{quote} So buying now is not a maker of money at this present time?
  • #4,665
  • Apr 27, 2021 10:44pm Apr 27, 2021 10:44pm
Quoting Itxtaha
{quote}
sorry
  • #4,666
  • Apr 28, 2021 12:49am Apr 28, 2021 12:49am
Quoting darkangel13
{quote} Thanks, great stuff, I am short on gold placed my SL 1786.
sir, i can i hold sell position from 1777 last night sir?
  • #4,667
  • Apr 28, 2021 12:58am Apr 28, 2021 12:58am
good morning to all
Forex can only be understood backwards, but it must be traded forwards.
  • #4,668
  • Apr 28, 2021 12:58am Apr 28, 2021 12:58am
Quoting prozor7
good morning to all
good morning sir,
  • #4,669
  • Apr 28, 2021 1:20am Apr 28, 2021 1:20am
Morning everyone

Well Gold really came down Asian session! Picked up a few pips on the drop. Quite amazing as I thought we would stay in a range until FOMC. Can only think the boys are looking for a nice discount for a possible big move up later
  • #4,670
  • Apr 28, 2021 1:21am Apr 28, 2021 1:21am
Quoting Mtinifx
Morning everyone Well Gold really came down Asian session! Picked up a few pips on the drop. Quite amazing as I thought we would stay in a range until FOMC. Can only think the boys are looking for a nice discount for a possible big move up later
thank you sir, i had selling @ 1777 i will hold its sir,
  • #4,671
  • Apr 28, 2021 1:45am Apr 28, 2021 1:45am
GOLD
H1
pay attention to 1771.93 as resistance line

if PA find support @ 1763 than possible pullback to 1771

if PA find support @ 1760 than possible pullback to 1766

max down for toady should be 1755 - 1750
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 33 KB
Forex can only be understood backwards, but it must be traded forwards.
  • #4,672
  • Apr 28, 2021 1:48am Apr 28, 2021 1:48am
Quoting prozor7
GOLD H1 pay attention to 1771.93 as resistance line if PA find support @ 1763 than possible pullback to 1771 if PA find support @ 1763 than possible pullback to 1766 max down for toady should be 1755 - 1750 {image}
thank you very much sir,
  • #4,673
  • Apr 28, 2021 2:09am Apr 28, 2021 2:09am
Gold reaching support area 1763/67, under this, we have 1751 bullish invalidation level, breaking 1751 then gold heading south.

I expect to find some support on 1760/67 until we are done with FOMC news.

On the other hand, gold could target 1755 (not breaking) before FOMC . Thats by selling using 1769 as SL targeting 1755.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold 28april.png Size: 74 KB
  • #4,674
  • Apr 28, 2021 2:14am Apr 28, 2021 2:14am
Quoting darkangel13
Gold reaching support area 1763/67, under this, we have 1751 bullish invalidation level, breaking 1751 then gold heading south. I expect to find some support on 1760/67 until we are done with FOMC news. On the other hand, gold could target 1755 (not breaking) before FOMC . Thats by selling using 1769 as SL targeting 1755. {image}
thank you very much my master,
  • #4,675
  • Apr 28, 2021 2:17am Apr 28, 2021 2:17am
GbpUsd to sell below 1,3920.....T 1,3830 . Price now 13872

Wait for retracement.
Attached Image (click to enlarge)
Click to Enlarge Name: GbpUsd 28april.png Size: 85 KB
  • #4,676
  • Apr 28, 2021 2:19am Apr 28, 2021 2:19am
Quoting darkangel13
GbpUsd to sell below 1,3920.....T 1,3830 . Price now 13872 Wait for retracement. {image}
thank you sir,
  • #4,677
  • Apr 28, 2021 2:25am Apr 28, 2021 2:25am
Ok, Let me put it this way,

Best scenario: Gold find support now and could target 1774/77. And we are long (risky)
As gold reaching 1774/75 we start selling using 1781 as SL targeting 1755/60 area.

That will be a dream scenario for me, lets see whats the market do
Attached Image (click to enlarge)
Click to Enlarge Name: Gold 28april.png Size: 74 KB
  • #4,678
  • Apr 28, 2021 2:32am Apr 28, 2021 2:32am
Quoting darkangel13
Ok, Let me put it this way, Best scenario: Gold find support now and could target 1774/77. And we are long (risky) As gold reaching 1774/75 we start selling using 1781 as SL targeting 1755/60 area. That will be a dream scenario for me, lets see whats the market do {image}
Yes I am also waiting for this to play out. A small retracement into 1774 area and then back down to tap 38.2 and likely longer term back all the way to break 1800.

Another scenario would also be it touches 38.2 now and then breaks 1800 after.

Or it retraces, goes right down to 50/61.8 at 1738/1724.
A 1 pip gain is better than a 1 pip loss.
  • #4,679
  • Apr 28, 2021 2:37am Apr 28, 2021 2:37am
Quoting aeternum
{quote} USDJPY has touched 108.81 and pushing through, this opens up 50 retracement level at 109.22. If it reverses from there, look for a break or double bottom at 107.47.
USDJPY is currently turning down from previous support 8 Apr and resistance 14 Apr at 109.063.

If hourly pushes down here, we can expect a retest of 108.48.
A 1 pip gain is better than a 1 pip loss.
  • #4,680
  • Edited 3:01am Apr 28, 2021 2:47am | Edited 3:01am
Now when we check US Bonds we find that the last up move took about 4hr, now on resistance so could start falling which can mean support for gold.

The down move could take 4hr theoretically meaning this down move could (up move on gold)last now time + 3-4hr.

Have fun.
Attached Image (click to enlarge)
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