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  • #8,461
  • May 24, 2023 5:42am May 24, 2023 5:42am
Xxxjpy all suddenly went red..risk-off? If so, gold rises.
  • #8,462
  • May 24, 2023 6:03am May 24, 2023 6:03am
Quoting Ravenfeeder
{quote} Not much, but I have a short at 1965, 1960 and 1955 (LOL, crazy I know, was hoping it would drop yesterday after NY open!), so I am holding out to see what the news will do! I'll take out my sells @ BE if it gets there, I just want to be out before Gold starts a new, persistent rally :/ I am sure selling at the height now isn't too risky an option, it looks like the Bull pressure is fading, not making new highs, but news can screw all that up again.
Finally price test level with spike and return quickly.Let's see what's next now.Trade safe
  • #8,463
  • May 24, 2023 6:07am May 24, 2023 6:07am
Quoting FxSnapper
Xxxjpy all suddenly went red..risk-off? If so, gold rises.
Interesting point, never a dull moment in the fx world!
"Who Dares Wins"
  • #8,464
  • May 24, 2023 6:08am May 24, 2023 6:08am
Quoting parveenverma
{quote}Yesterday's little drop was because of Daily resistance I have posted it otherwise I am bullish till 2005-2006 area if we keep these time spending retracement aside.Today I am expecting maximum retracement up to 1961 as per my 4H TF untested level.There is liquidity zone below if you will be lucky than price can attack that area for Liquidity grab purpose before move upward.Trade safe
Thank you! I'll be setting TP's for BE, just in case liquidity grab is the only move down before up to 2000!
"Who Dares Wins"
  • #8,465
  • May 24, 2023 6:52am May 24, 2023 6:52am
Quoting Ravenfeeder
{quote} Interesting point, never a dull moment in the fx world!
I was calling for a recovery above 70 for gold yesterday (#8,414), but I'm surprised xxxjpy has corrected. Not sure how this will play out.
  • #8,466
  • May 24, 2023 7:34am May 24, 2023 7:34am
Quoting Ravenfeeder
{quote} Thank you! I'll be setting TP's for BE, just in case liquidity grab is the only move down before up to 2000!
Hey man. I am stuck in the same position as you. Are you going to hold and see if it moves down after reaching 2000 or place a SL at 2000?
  • #8,467
  • May 24, 2023 7:48am May 24, 2023 7:48am
Quoting aahmad29
Start selling from 1974 TP 1965
short positions

1974
1984
Sell limit 2000

TP 1974
Love for all; Hatred for none.
  • #8,468
  • May 24, 2023 7:48am May 24, 2023 7:48am
Another Quick Gold Scalp

Trade 1 Sell Open: 1981.78
Trade 1 Sell Close: 1980.85
Trade 1 Pips = 93

Trade 2 Sell Open: 1984.08
Trade 2 Sell Open: 1982.29
Trade 2 Pips: = 172

Trade was open in nested supply zones (M5 zone nested in H4)

For Trade 1, the entry was not that great so i entered another sell order (Trade 2). Price immediately spiked to the high of 1985.28 but eventually dropped.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold Sell Trade 6.png Size: 64 KB
Stay Positive
  • #8,469
  • May 24, 2023 7:49am May 24, 2023 7:49am
Quoting ghwatson19
{quote} Hey man. I am stuck in the same position as you. Are you going to hold and see if it moves down after reaching 2000 or place a SL at 2000?
Hi! I'll SL at 1985 if it doesn't go down again. Looks like up so far, but 1984 is holding!
"Who Dares Wins"
  • #8,470
  • May 24, 2023 7:53am May 24, 2023 7:53am
Quoting aahmad29
{quote} short positions 1974 1984 Sell limit 2000 TP 1974
If i was you I'd wait for the 4hrs candle to close before making that decision, gold about to break the 200 moving day average
Attached Image (click to enlarge)
Click to Enlarge Name: 2A89300E-92AB-4127-92AF-8CFD274A1158.png Size: 42 KB
  • #8,471
  • May 24, 2023 8:17am May 24, 2023 8:17am
Quoting WhiteDawnFX
Daily Gold Strategy 2023-5-24 Yesterday, gold prices fell and then rose due to hawkish comments from Federal Reserve officials, and rose due to the failure to reach a debt agreement. Today, negotiations on the debt ceiling remain the focus of the market. Below is the daily gold price range calculated by the Wall Street Intelligence Circle's gold pricing model: Turning point: 1968 (bullish above this level) Operating range: 1963, 1983 Broad range: 1954, 1991 Combining the 1-hour chart, today's calculated minimum price is close to the Bollinger Band's...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 13 KB
  • #8,472
  • May 24, 2023 8:20am May 24, 2023 8:20am
Quoting LitEU
{quote} If i was you I'd wait for the 4hrs candle to close before making that decision, gold about to break the 200 moving day average {image}
sorry but where is the 200 day MA? I'm aware of the one down at about 1890-1887, but that us the 200 day EMA. Looks like bears are stepping again, at least to test 1969
"Who Dares Wins"
  • #8,473
  • May 24, 2023 8:26am May 24, 2023 8:26am
Quoting Ravenfeeder
{quote} sorry but where is the 200 day MA? I'm aware of the one down at about 1890-1887, but that us the 200 day EMA. Looks like bears are stepping again, at least to test 1969

You're correct but that's just liquidity grab, Gold will break the 200 day moving average the red one
  • #8,474
  • May 24, 2023 8:31am May 24, 2023 8:31am
Quoting LitEU
{quote} You're correct but that's just liquidity grab, Gold will break the 200 day moving average the red one
The daily has flipped bearish, weekly is bearish again

The liquidity grab WAS the bullish move up, I can't see this going back now
  • #8,475
  • May 24, 2023 8:31am May 24, 2023 8:31am
Quoting LitEU
{quote} If i was you I'd wait for the 4hrs candle to close before making that decision, gold about to break the 200 moving day average {image}
Volume never lies.

closed both positions at 1975

1974-1975
1984-1975

In one way you may be correct because you are looking for medium term trades on the base of H4 candle. I am trading purely based on PA and volume analysis of M1 and M5 timeframes. It has nothing to do with trend or countertrend. I just look for volume and if volume flips and change direction for me then i also flip my positions. Flipping is hard part of my style of trading because it takes more time and money management skills must be good.
Love for all; Hatred for none.
  • #8,476
  • May 24, 2023 8:34am May 24, 2023 8:34am
Quoting aahmad29
{quote} short positions 1974 1984 Sell limit 2000 TP 1974
Volume never lies

Closed both short positions at 1975

1974-1975
1984-1975
Love for all; Hatred for none.
  • #8,477
  • May 24, 2023 8:41am May 24, 2023 8:41am
Quoting Ravenfeeder
{quote} Hi! I'll SL at 1985 if it doesn't go down again. Looks like up so far, but 1984 is holding!
It seems to be coming down so we might get BE at 1965!
  • #8,478
  • May 24, 2023 8:41am May 24, 2023 8:41am
Quoting aahmad29
{quote} Volume never lies Closed both short positions at 1975 1974-1975 1984-1975
Daily support start reacting again.Alert Bears. Trade safe
  • #8,479
  • May 24, 2023 8:46am May 24, 2023 8:46am
Quoting parveenverma
{quote} Daily support start reacting again.Alert Bears. Trade safe
Thanks i had this in my mind. Again thanks for tip. Thats why i closed both positions and did not take chance to pass daily level. M5 chart volume exhausted but i still believe that price can go down after retesting 1984 or 1992
Love for all; Hatred for none.
  • #8,480
  • May 24, 2023 8:47am May 24, 2023 8:47am
Quoting Xauusdscalpr
{quote} The daily has flipped bearish, weekly is bearish again The liquidity grab WAS the bullish move up, I can't see this going back now
We all have different views of the market, I'm bullish XAUUSD from a swing standpoint....I don't scalp

Fundamentals is key to my trading style, there's a sell signal there and it's liquidity grab from my stand point

Note you can print USD but not GOLD
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