Pro7 PA trading analysis 28+GOLD | Page 237 | Metals Mine

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Pro7 PA trading analysis 28+GOLD

  • #4,721
  • Apr 28, 2021 10:12am Apr 28, 2021 10:12am
Quoting darkangel13
Don't trade today: Try to clean your table, doesn't matter if its profit or loss. As in such news price will fly up and down. If you have to trade then take some pair that will not be affected by the news, like EurGbp, I recommend highly taking a break do something you love at that time. The market will be here tomorrow. I am taking a break and will be back before the news.
thank you very much sir,
  • #4,722
  • Apr 28, 2021 10:15am Apr 28, 2021 10:15am
I forget Oil trade went very well. I dont know if there is any of you trading oil, but its fun.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Oil.png Size: 93 KB
Click to Enlarge Name: Oil 1.png Size: 103 KB
  • #4,723
  • Apr 28, 2021 10:17am Apr 28, 2021 10:17am
Quoting darkangel13
I forget Oil trade went very well. I dont know if there is any of you trading oil, but its fun. {image} {image}
oil i tp done sir, thank you very much sir,
  • #4,724
  • Apr 28, 2021 12:42pm Apr 28, 2021 12:42pm
Quoting prozor7
{quote} you are star here, well deserved - enjoy {image}
You and darkangel13....Both Stars here and i love your EA Pro7 , works wonders with my strategy!!!
"When you lose, you learn to Win" - Snr Me
  • #4,725
  • Apr 28, 2021 1:04pm Apr 28, 2021 1:04pm
Quoting gatenio
{quote} between your words i see a bear?
Haha, Bearish should be
  • #4,726
  • Apr 28, 2021 1:16pm Apr 28, 2021 1:16pm
[quote=TC48;13514874]
Quoting darkangel13
Did the gold reach bottom in 1763? Think how the big guys do, now they want buyers... how to get some? they need to convince retail traders to buy? or let me put it this way: ANYONE DARE TO BUY GOLD!!! in the present situation wouldnt banks normally push price in the opposite direction to where they eventually want it to go and do it themselves...I mean how strong is the retail trader when it comes to moving the market... just my 2cent question and looking to go short?
Let me put it in a simple way, let's say 10miljon traders taking 100$ position with 25pips SL , meaning its 1bilion in the play if you compare that power and start asking how much it needs to move a certain pair 10pips then you will be surprised on the power that retail T have, the problem is that they are not organized.

For the big guys, they will invest a couple of billion to move the market against you 25pips and hit your SL taking the 1billion, off course not everyone have 25pips SL but you get the idea.

Now, what if 1 million RT together trading using their own capital together and profit paid as shares based on your capital, do you know what kind of fire power they will have? That's terrifying BIG GUYS and they will never allow it.
  • #4,727
  • Apr 28, 2021 1:44pm Apr 28, 2021 1:44pm
Quoting Mavzo
{quote} .... i love your EA Pro7 , works wonders with my strategy!!!

thx, glad to hear that.

did you try dashboard ?
Forex can only be understood backwards, but it must be traded forwards.
  • #4,728
  • Apr 28, 2021 2:03pm Apr 28, 2021 2:03pm
Oil collapse as it reached 64 resistance, this could affect Cad & Nok

Gold possible creat 123 bearish on 4hr, targeting 1759, SL close above 1785 on 4hr. Not confirmed yet.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold 28april 2.png Size: 78 KB
  • #4,729
  • Apr 28, 2021 2:09pm Apr 28, 2021 2:09pm
Quoting darkangel13
Oil collapse as it reached 64 resistance, this could affect Cad & Nok Gold possible creat 123 bearish on 4hr, targeting 1759, SL close above 1785 on 4hr. Not confirmed yet. {image}
thank you sir
  • #4,730
  • Apr 28, 2021 2:15pm Apr 28, 2021 2:15pm
Quoting darkangel13
Oil collapse as it reached 64 resistance, this could affect Cad & Nok Gold possible creat 123 bearish on 4hr, targeting 1759, SL close above 1785 on 4hr. Not confirmed yet. {image}
Looking forward to xau movement, thank you for sharing this idea Sir, great work
  • #4,731
  • Apr 28, 2021 2:24pm Apr 28, 2021 2:24pm
Quoting prozor7
{quote} thx, glad to hear that. did you try dashboard ?
I did try it , but still confused and getting around it and finding my feet, so much capability.
"When you lose, you learn to Win" - Snr Me
  • #4,732
  • Apr 28, 2021 2:31pm Apr 28, 2021 2:31pm
[quote=darkangel13;13515239][quote=TC48;13514874]{quote}
understood....i wasn't familiar with those kinds of figures...very interesting & tks
  • #4,733
  • Apr 28, 2021 9:13pm Apr 28, 2021 9:13pm
Quoting aeternum
{quote} Loads of scalping buys and finally all positions closed at 1774. The 4H candle is looking pretty strong right now. Edit - took a look at the move down and drew a fib retracement, not a pretty fib line but if it coincides, we'd be looking at 38.2 at 1775/6 level and 50 at 1780. Both of which have been previous support or resistances. Generally if we follow fib retracement levels, we expect at least 38.2 retracement but gold has yet to give us that, which is 1752 from March lows at 1677 and April highs at 1797. I will have a more bearish biased...
Hello Arternum Sir, do you think now we're heading north on XAU after FOMC? Thanks in advance.
  • #4,734
  • Apr 29, 2021 12:37am Apr 29, 2021 12:37am
Quoting Fxpartner
{quote} Hello Arternum Sir, do you think now we're heading north on XAU after FOMC? Thanks in advance.
There is no point trying to predict or forecast where price will go. You will never be able to do so, otherwise there will be many more billionaires in the world. Price is telling you where it wants to go.

FOMC was very unpredictable but mainly unchanged. Powell acknowledged that the US economy is recovering but that there is a long way to go before it achieves what they would like to see and most of it comes down to sustainability of long term growth.

Initial reaction to the news reports was a spike up and then a move down. The move down I feel was largely because 1) we are basically overbought on charts and 2) there is no clear indication on when the factors that indicate Fed tapering will occur. It's basically a "let's see how things go as we move on but we will be sitting on our hands until things change".

There is also a lot of concern on jobs in the market with over 8m jobs lesser as compared to Feb 2020 but the key thing here is not the loss of jobs but the fact that companies who used to hire people are now looking to change their business models and in turn may possibly hire less people in the service sector. You have retail companies that used to have a storefront who may now go into online platforms (this is actually happening all around the world).

So with all that said, you realize that there isn't much of a reaction to USD because it's practically nothing happening.

If you would like to see if gold pushes further north, your resistance levels are now previous high at 1789 and also 1796 areas. If it breaks both these areas convincingly, I'm sure we will start finding previous support/resistance levels in the 1800 range.

Edit - price broke 38.2 at 1776, 50 at 1780, 61.8 at 1784 and almost touched 78.6 at 1790. Assuming this is not an accurate fib retracement, using the move up, we can see 38.2 at 1779 all the way down to 61.8 at 1773. If it bounces and breaks 1789, we should be seeing an AB=CD move upwards (effectively it should break 1800)
Attached Image (click to enlarge)
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A 1 pip gain is better than a 1 pip loss.
  • #4,735
  • Apr 29, 2021 12:52am Apr 29, 2021 12:52am
Quoting aeternum
{quote} There is no point trying to predict or forecast where price will go. You will never be able to do so, otherwise there will be many more billionaires in the world. Price is telling you where it wants to go. FOMC was very unpredictable but mainly unchanged. Powell acknowledged that the US economy is recovering but that there is a long way to go before it achieves what they would like to see and most of it comes down to sustainability of long term growth. Initial reaction to the news reports was a spike up and then a move down. The move down...
I think you're right, need to focus more on reading the price rather than forecasting. Thank you for sharing your thought on this Sir. Much appreciated.
  • #4,736
  • Apr 29, 2021 1:47am Apr 29, 2021 1:47am
good morning to all
Forex can only be understood backwards, but it must be traded forwards.
  • #4,737
  • Apr 29, 2021 1:49am Apr 29, 2021 1:49am
Quoting prozor7
good morning to all
good morning sir,
  • #4,738
  • Apr 29, 2021 1:52am Apr 29, 2021 1:52am
Good morning everyone,

Today I will short oil (already did from 64,13). The price on resistance and should start moving south.

PS! that could affect UsdCad & UsdNok as both may start moving north in a different way.
Attached Image (click to enlarge)
Click to Enlarge Name: oil 29april.png Size: 99 KB
  • #4,739
  • Apr 29, 2021 1:53am Apr 29, 2021 1:53am
Quoting darkangel13
Good morning everyone, Today I will short oil (already did from 64,13). The price on resistance and should start moving south. PS! that could affect UsdCad & UsdNok as both may start moving north in a different way. {image}
good morning sir,
  • #4,740
  • Apr 29, 2021 2:02am Apr 29, 2021 2:02am
Golds next movement down is to 1773
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