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  • #33,921
  • Jun 7, 2024 3:56am Jun 7, 2024 3:56am
Quoting hanzohas
{quote} {quote} This looks more like a staircase. I would rather try to catch a falling knife, but then again, this is just M5 so anything could happen. The real flag, inside the channel, got somehow wasted yesterday. Who knows, maybe price will return to the channel. {image}
Back to the flag channel. Lets see what happens from here..

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ma ma make me happy
  • #33,922
  • Edited 8:25am Jun 7, 2024 3:56am | Edited 8:25am
long as CT at : 2347.50
SL : 2343.50 (sl hit) (some idea tested and failed )
Tp : 2351.50
-------------------------
add long as CT at 2345.50
SL : 2343.50 (sl hit)
TP :2351.50
------------------------
Buy at 2341.50
Sl : 2338.50(sl changed to 2337)(sl hit ) in all 3 i jump on trade and did not wait for confluence or confirmation , lesson learned ( I guess )
Tp : open
-----------------------
Long as CT at : 2335
SL : 2332( close manually at 2335.50 before news )
TP : open
-----------------------
Add Long as CT at 2336
SL : 2333( close manually at 2335.50 before news )
TP : 2341
-----------------------
Long as CT at 2322
SL : 2319 sl hit
TP : OPEN
-----------------------
Short Term Bias : short, Long Term Bias : short
Status : (-40pip,-20pip,-45pip,) , Total : -105 pip
Today Win Ratio : 1/6 or 16%
  • #33,923
  • Jun 7, 2024 4:03am Jun 7, 2024 4:03am
Quoting T721
{quote} Update in case any followed {image}
Im gonna turn off my brain if I see price get into 2250 area
ma ma make me happy
  • #33,924
  • Jun 7, 2024 4:11am Jun 7, 2024 4:11am
Sometimes greed is not a cursed
the price will hit 3332 and maybe 2320
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  • #33,925
  • Jun 7, 2024 4:13am Jun 7, 2024 4:13am
gold - 4hrs
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  • #33,926
  • Jun 7, 2024 4:16am Jun 7, 2024 4:16am
Quoting Xces
Backtesting a new indicator, so far it seems spot on for scalping on M5. Name of the indicator "Multicator table" on TV with about 5000 users. {image}
Hi Xces,
Did you marked those white comments where to buy or sell or indicator itself marking it??
  • #33,927
  • Jun 7, 2024 4:18am Jun 7, 2024 4:18am
Quoting NolanFelix
{quote} Hi Xces, Did you marked those white comments where to buy or sell or indicator itself marking it??
This is 100% the indicator doing it, but i see this indicator as a useful TOOL, as in; it is still an INDICATOR and I use it in combination with other sources. For example, I 'knew' the range was 2358 to 2390 yesterday. I bought yesterday on the retrace at 2366, held it to 2353 (Yes i was underwater for a better part of the day, but risk was managed). I added on my long at 2358. I closed it at 2374 for couple of reasons (a) both positions where in good profit (b) reached my daily goal (c) went to bed and i don't want to keep trades active at night

So when I woke up this morning, Gold was at 2387 - which is the upper part of the range of yesterday. I could have opened a short with small size, but I was not behind my computer.

The original indicator script page explains what the indicator uses and how it is constructed:
https://www.tradingview.com/script/mhl1Fgp1/
  • #33,928
  • Jun 7, 2024 4:20am Jun 7, 2024 4:20am
Quoting Xces
{quote} This is 100% the indicator doing it.
Nice work
  • #33,929
  • Jun 7, 2024 4:24am Jun 7, 2024 4:24am
Quoting nave02051986
Sometimes greed is not a cursed the price will hit 3332 and maybe 2320 {image}
2332....correct it
Be Calm In Every Situation
  • #33,930
  • Jun 7, 2024 4:26am Jun 7, 2024 4:26am
The current price is below the Flag area everyone should be very careful it can be another fake bullish candle like in the morning
Gold is bearish however we might see some struggling candles around 2340 to 2330 but it looks totally bearish to me
  • #33,931
  • Jun 7, 2024 4:34am Jun 7, 2024 4:34am
I would assume price finds it way back to 2410 in time.
TechKnow
  • #33,932
  • Jun 7, 2024 4:36am Jun 7, 2024 4:36am
RSI showing 2340 to 2327 is buying area.. i dont hold sell.. i will stay in buy between this levels.

who knows this drop. reversal or pullback..
SURFER
  • #33,933
  • Jun 7, 2024 4:40am Jun 7, 2024 4:40am
Quoting nave02051986
The current price is below the Flag area everyone should be very careful it can be another fake bullish candle like in the morning Gold is bearish however we might see some struggling candles around 2340 to 2330 but it looks totally bearish to me
Bearishness far from over currently...the news that PBOC stopped purchasing Gold last month was the trigger for the selloff...Algos went crazy when news came out. Bloomberg also reported. So after 18 month buying frenzy from China, people assume that low interest summer season started.
  • #33,934
  • Jun 7, 2024 4:54am Jun 7, 2024 4:54am
Nfp gonna make it fly
  • #33,935
  • Jun 7, 2024 4:56am Jun 7, 2024 4:56am
Quoting Techknow
I would assume price finds it way back to 2410 in time.
hours, days, weeks, or months?
ma ma make me happy
  • #33,936
  • Jun 7, 2024 4:57am Jun 7, 2024 4:57am
Quoting hanzohas
{quote} hours, days, weeks, or months?
Not months.
Price needs to fill 2413 area before it can make its final move down, I have 0 interest in shorts, I have 0 interest in bears. I will only be looking long for 2413 that is all. Maybe days, weeks, not months. I dont see how the monthly formation can hold months on the long side. It needs to touch 2413 before too long. Obviously anything can happen. But i think we can all agree I dont post in here very much but when I do post on gold it happens. Cheers
TechKnow
  • #33,937
  • Jun 7, 2024 5:00am Jun 7, 2024 5:00am
https://www.forexfactory.com/thread/...6#post14892236
yesterdays analysis - don't rule out 2310/20
XAUUSD H4
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  • #33,938
  • Jun 7, 2024 5:02am Jun 7, 2024 5:02am
Quoting Orand
long as CT at : 2347.50 SL : 2343.50 (sl hit) (some idea tested and failed ) Tp : 2351.50 ------------------------- add long as CT at 2345.50 SL : 2343.50 (sl hit) TP :2351.50 ------------------------ Buy at 2341.50 Sl : 2338.50(sl changed to 2337) Tp : open
today is friday and you think 2-3$ stop loss in long term
"short term trading results are always random"
look at big picture if you want to make real money,
no offense
but i am waiting for 2330 and 2320 to start buying and stop loss will be below 2290
targets will get 2350-60
that is how gold is traded.
please dont mind but your stop loss took 2 min to hit
that is scalping not trading,
i hope it helps.
good luck
Don't compare your Trades with Others
  • #33,939
  • Jun 7, 2024 5:06am Jun 7, 2024 5:06am
gold - 4hrs
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  • #33,940
  • Jun 7, 2024 5:08am Jun 7, 2024 5:08am
Quoting DubaiFX
{quote} today is friday and you think 2-3$ stop loss in long term "short term trading results are always random" look at big picture if you want to make real money, no offense but i am waiting for 2330 and 2320 to start buying and stop loss will be below 2290 targets will get 2350-60 that is how gold is traded. please dont mind but your stop loss took 2 min to hit that is scalping not trading, i hope it helps. good luck
I agree with your first part, but when you say (worst case) waiting for 2330 to buy with target of 2350 then that is 0.5R right? (40 loss vs 20 profit)
Best case, buying at 2320 and aiming for 2360 is still low R trade if you ask me; but i do agree that for trading gold you have to use large(r) stops especially in these type of weeks.
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