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  • #28,141
  • Mar 8, 2024 2:44pm Mar 8, 2024 2:44pm
Quoting genadi
{quote} Dude, I hold short from 2071.
I did it from 2072
  • #28,142
  • Mar 8, 2024 2:49pm Mar 8, 2024 2:49pm
Quoting Jonas4
I have a short at 2195. Would you close it? Considering there havent been any red days in a long row. Problem is Im almost sure it will retest above 2200. Im not sure. Its a big lot short.
I think it is very good value for holding longer normally. However next week is CPI data, if that is on the low side with this strength Gold will probably go over 2200.

Although it is very good price, nothing yet decided I think.
  • #28,143
  • Mar 8, 2024 3:05pm Mar 8, 2024 3:05pm
Good evening everyone, my first post here.
i just want to say thank you for those that make time to give some tips here, im following since 2 weeks. Im not an professional trader, i just do it from my phone because i work on the floor so i dont have time to sit at the pc. I had some big loses before, but since i joined here i started to be more carefull and to not jump, and going after some tips from here that helped me a lott.
Since yeaterday i had finally some good profit, around 2k, thanks to you.
Huge thanks for all of you that make time for this and some people like me that doesnt have much free time, can take an small advantage .

Best regards !!! Have an great weekend !
  • #28,144
  • Mar 8, 2024 3:15pm Mar 8, 2024 3:15pm
Quoting Blavity01
{quote} sell or buy?
buy
ryoiki tenkai : Blue Juggernaut
  • #28,145
  • Mar 8, 2024 4:11pm Mar 8, 2024 4:11pm
Quoting Doublepanda
{quote} buy
Are you leaving it open over the weekend, and what is your TP?
  • #28,146
  • Mar 8, 2024 4:12pm Mar 8, 2024 4:12pm
Quoting GoldTrader00
{quote} Missed 25pips.. Next 2230 or 2100 Trade safe Happy Weekend
Looks like no sell in upcoming weeks/month...
2224,2272,2352 coming soon...
It's all about timing!!!
  • #28,147
  • Mar 8, 2024 4:26pm Mar 8, 2024 4:26pm
Quoting S3000
my conclusion on todays figures NFP etc... The published figures are not reliable since they are always revised. Same for the forecasts. The FED will have a difficult job and thats why they will act very slowly and might wait longer before cutting rates
Whatever the numbers are, don't expect markets to act/react the way you would like them to act !
Since a while financial market are subject to HFT trading by Hedge Funds and Big Banks (BB's) therefore there's not always a logical responds from markets to the published of macro-data.
Moreover, very often these institutions are provided with pre-release numbers and meanwhile observe retail traders positions before hitting the button.
  • #28,148
  • Mar 8, 2024 6:34pm Mar 8, 2024 6:34pm
Quoting Jonas4
I have a short at 2195. Would you close it? Considering there havent been any red days in a long row. Problem is Im almost sure it will retest above 2200. Im not sure. Its a big lot short.

Just go for the easy way, risk free trade. Place breakeven at 2186, end of story. Its not even a lost even if it hit.
But why 2186. because i have like been waiting for this number 2191.59 to hit. and it actually hit 2195.

previous post which i posted

"Nah. Now that nfp has release. The ranges are created. 2185 and 2156.

Two possibilities. Long from 2156, or short from 2185. Strictly with SL.

Such as for long from 2156. Stop loss best at 2153.68. any break below that will drop.
Same goes for short at 2185. Stop loss best at 2192. Any break will shoot up."

would still be valid. but, i think judging from daily closure, it might still be bullish.
but looking at h4 its almost exhausted. daily is just partly exhausted, but not 100% exhausted.


but if the price hits your be at 2186. then u wait, to try and enter a sell from 2192 but stop loss strictly at 2195.
because any break even further will incur estimated a high floating loss, because this daily candle close an almost exhausting candle.
it might give one last push before even dropping. it might even be a fakeout.

so technically if price just instantly drop on monday without even touching ur be at 2186, then u got to monitor 2156.
it might be heading there to test 2156 before deciding to push up back or continue dropping.

so technically by saying all this. there are much area to explore
such as instant sell when market open, which is 2180, but stop loss at 2186.
or wait sell at 2192 with stop loss at 2195. this is what i can see after nfp results.

let me attach some important ranges based on h4 .
i cannot advise on chart looking at daily, because i need to see the closure on monday how it closes. but this charting on h4 is considered a risky move.
thats why i gave numbers


and sorry for all those who dont understand my charts. i dont use any indicators or not even using support and resistance.
i only works on price action candles, and wicks for entries, sl and tp. its a hidden technique with much rules.
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Trading is very lonely
  • #28,149
  • Mar 8, 2024 10:14pm Mar 8, 2024 10:14pm
Already took profit on 4 of the 5 shorts from 2194, each 20 lot. But I'm still unsure if it's worth keeping the last position.

It just doesn't make sense that it doesn't hover around 2200 for a while, or break above, so why not close it now and wait for 2200 retest?
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  • #28,150
  • Mar 8, 2024 10:37pm Mar 8, 2024 10:37pm
Quoting Jonas4
Already took profit on 4 of the 5 shorts from 2194, each 20 lot. But I'm still unsure if it's worth keeping the last position. It just doesn't make sense that it doesn't hover around 2200 for a while, or break above, so why not close it now and wait for 2200 retest? {image}

just place ur trades on break even when market opens. it doesnt hurt, placing at 2186. u still got like 90 pips profit.
its just like a caution if it hit ur breakeven. dont enter instead wait 2192 and see if entries is possible with 2195 sl. which is stated in my previous post.

thats how trade should be like. minimize ur stop loss. to get a better entries should price hit stop loss.

you will have a healthy trading account if continue this way.
Trading is very lonely
  • #28,151
  • Mar 9, 2024 4:27am Mar 9, 2024 4:27am
Quoting Blavity01
{quote} I did it from 2072
Wow, you guys are crazy
"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." — Warren
  • #28,152
  • Mar 9, 2024 4:28am Mar 9, 2024 4:28am
I was reading an article and found out that China Central Bank was a major tool for the Gold price increasing this fast, the question is till when and which price they will stop buying?
  • #28,153
  • Mar 9, 2024 5:08am Mar 9, 2024 5:08am
Quoting H.z
I was reading an article and found out that China Central Bank was a major tool for the Gold price increasing this fast, the question is till when and which price they will stop buying?
From coming week Gold will start falling for 2033 - 2026 or more. Weekly closed @ 2178.
I'm not always right.. I'm not always wrong neither
  • #28,154
  • Mar 9, 2024 6:52am Mar 9, 2024 6:52am
Quoting NextElliott
{quote} From coming week Gold will start falling for 2033 - 2026 or more. Weekly closed @ 2178.
I think that will be faster than this top
People don't plan to lose. They lose because they don't plan.
  • #28,155
  • Mar 9, 2024 7:18am Mar 9, 2024 7:18am
Here are weekly Fibo volatility Levels.

I am only looking for establishing short positions because my weekly Fibo levels are gone above the monthly levels
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Love for all; Hatred for none.
  • #28,156
  • Mar 9, 2024 7:20am Mar 9, 2024 7:20am
Quoting ScalaFX
{quote} I think that will be faster than this top
At this moment I'm looking for 2104 area.. After reaching there will give update for next move. I remember when price was @ 1993 area and I was yelling for 2090 to 2130 area.. Same situation now occurred @ 2178 area, I'm yelling for 2033 - 2026 or more..
I'm not always right.. I'm not always wrong neither
  • #28,157
  • Mar 9, 2024 7:25am Mar 9, 2024 7:25am
Quoting NextElliott
{quote} At this moment I'm looking for 2104 area.. After reaching there will give update for next move..
I am looking for 2118-2120
Love for all; Hatred for none.
  • #28,158
  • Mar 9, 2024 7:31am Mar 9, 2024 7:31am
As a noob I need to post a question. I have learned recently some important information about market structure and Gold. Well, any market really I guess. With liquidity above 2195 now shouldn't Gold accumulate then move up to the market makers' pre-decided level, ( 2220 for example) then just start dropping like a stone after that area is mitigated?? Selling high and buying low? So don't take any short positions until after the upward momentum has reversed for maybe an hourly candle or two??
I apologize for the rudimentary question.

Thank you.
  • #28,159
  • Mar 9, 2024 7:55am Mar 9, 2024 7:55am
Quoting NextElliott
{quote} At this moment I'm looking for 2104 area.. After reaching there will give update for next move. I remember when price was @ 1993 area and I was yelling for 2090 to 2130 area.. Same situation now occurred @ 2178 area, I'm yelling for 2033 - 2026 or more..
yes 2000 acting like magnet still so I will be not surprised that Gold will hit that fast for "just to do it" and run for new high one more and more
People don't plan to lose. They lose because they don't plan.
  • #28,160
  • Mar 9, 2024 7:58am Mar 9, 2024 7:58am
Quoting NextElliott
{quote} From coming week Gold will start falling for 2033 - 2026 or more. Weekly closed @ 2178.
I wish for this scenario coz I still hold my shorts @ 2120, but what would make the gold fall to 2033_2026 area?
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Dominicus