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  • #37,581
  • Aug 8, 2024 12:09pm Aug 8, 2024 12:09pm
Quoting costos
You should all stop trading whatever you are trading and start trading with a lossy profit/loss ratio. That's how banks trade, and banks never lose money. The banks made LOSSY p/l ratio PROFITABLE. That's why everyone else loses money. I wrote it up in the trading systems forum section...so hopefully this will save someone some money!
bank never doing a trade to make money, they trade for hedging and generate commission
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  • #37,582
  • Aug 8, 2024 12:09pm Aug 8, 2024 12:09pm
Quoting guguxpto
{quote} 1h GOLD Hi Pedro is this what we are talking the now extensions meet 50% daily fibo it should come down a little bit {image}
Thanks Pedro
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Scalping
  • #37,583
  • Aug 8, 2024 12:13pm Aug 8, 2024 12:13pm
Quoting guguxpto
{quote} Thanks Pedro {image}
You are welcome mate!
We watch the charts from every angle so you don't have to!!
  • #37,584
  • Aug 8, 2024 12:44pm Aug 8, 2024 12:44pm
Looks good for the scenario to play out.

consolidation 2418 - 2450

later next week new highs.

There is a fair part of me which thinks we could overshoot the 2560 target on a news spike. At the top I’ll be opening options for 1 week, 2 months & 6 month expiry until it’s broken support to the downside & retested.

that’s the plan
Que Sera
  • #37,585
  • Edited 3:47pm Aug 8, 2024 2:07pm | Edited 3:47pm
Quoting Catempire
Looks good for the scenario to play out. consolidation 2418 - 2450 later next week new highs. There is a fair part of me which thinks we could overshoot the 2560 target on a news spike. At the top I’ll be opening options for 1 week, 2 months & 6 month expiry until it’s broken support to the downside & retested. that’s the plan
Purely because I like predicting shit, looking back and giving myself a tap on the back

We are… Shaping up on the monthly with a large lower wick… that we will see the same on the upper, BUT it seems somewhat unlikely to be bigger on the upper given where we are on the chart & the fundamentals. News ofc can effect this BUT (and it’s a big BUT) the psychology of the market changes all the time & even war doesn’t mean this will sky rocket, even more so given more know that there’s always a knee jerk reaction.

the more I think about it…

Sweying with a top coming in at around 2528 (?) which is a similar level to the final wave on the Fibonacci. (Confluence = confidence).

ending the month, slightly down / flat.

first major call for the shorts would then be 2180 / 2150 which would cover the “singles” on the monthly and aligns with some fairly decent support, so we could see a swing up from there, news / fundamentals / momentum depending.

Always good to zoom out and gain another perspective.

“all to change was the view”

It’s all bullshit until it’s happened
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Que Sera
  • #37,586
  • Aug 8, 2024 2:35pm Aug 8, 2024 2:35pm
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  • #37,587
  • Aug 8, 2024 2:48pm Aug 8, 2024 2:48pm
Quoting Silver-King
Decent rally on PMs and nice profit on the Silver as well, however there are signs that this rally isn't as strong as it seems. If this momentum continues however, then I'll re-analyse the whole situation and perhaps start adding more Longs on Silver.
I have re-analysed the situation since the momentum has continued. My outlook for the PMs has changed. However, the price that should put this rally in question and is in my opinion the major turning point for the price of the Silver is at 28.5$. At around 28.5$ the price is either turning back down and will go below 26.5$ in my opinion or 28.5$ Resistance will fail and the price of PMs are going much, much higher.

If I have done my math properly, by the time Silver reaches 28.5$ the price of Gold should be around 2500$ which is a critical Resistance, because once the Gold breaks above 2500$ it will get all the attention there is and things will get interesting very fast.

Having said this... I will soon start adding more Longs on the Silver. The closer to 27$ the better.

Outlook: Balanced (Neither Bullish & Neither Bearish)
  • #37,588
  • Edited 3:28pm Aug 8, 2024 3:02pm | Edited 3:28pm
we are in 3 of 3 wave now I think so momentum can be decent from from next day, watch out and dont short before real pullback
People don't plan to lose. They lose because they don't plan.
  • #37,589
  • Aug 8, 2024 3:48pm Aug 8, 2024 3:48pm
Gold is going down i think, waiting for some bearish action
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  • #37,590
  • Aug 8, 2024 4:16pm Aug 8, 2024 4:16pm
Quoting 07Jack
Gold is going down i think, waiting for some bearish action {image}
2428 can bring some bearish action but this will be super limited
People don't plan to lose. They lose because they don't plan.
  • #37,591
  • Aug 8, 2024 4:44pm Aug 8, 2024 4:44pm
Quoting 07Jack
Gold is going down i think, waiting for some bearish action {image}
sounds great.
hope it works out.
are we talking… seconds, minutes, hours or months ??
Que Sera
  • #37,592
  • Aug 8, 2024 5:32pm Aug 8, 2024 5:32pm
geopolitical tensions now much less, watch out.

Iran mulls scrapping plans to take revenge on Israel in exchange for a Gaza ceasefire

https://edition.cnn.com/2024/08/08/m...ntl/index.html

Qatari, Egyptian, US leaders invite Israel and Hamas to resume talks on Aug. 15

https://www.reuters.com/world/middle...15-2024-08-08/

PM’s office says Israeli delegation will attend Aug. 15 talks on ceasefire-hostage deal

https://www.timesofisrael.com/livebl...-hostage-deal/
How much you lose when you are wrong?
  • #37,593
  • Aug 8, 2024 6:02pm Aug 8, 2024 6:02pm
Quoting aljOOker
geopolitical tensions now much less, watch out. Iran mulls scrapping plans to take revenge on Israel in exchange for a Gaza ceasefire https://edition.cnn.com/2024/08/08/m...ntl/index.html Qatari, Egyptian, US leaders invite Israel and Hamas to resume talks on Aug. 15 https://www.reuters.com/world/middle...15-2024-08-08/ PM’s office says Israeli delegation will attend Aug. 15 talks on ceasefire-hostage deal https://www.timesofisrael.com/livebl...-hostage-deal/...
as they say.

nothing in politics happens by accident, if it happens, it was meant that way. No surprise happens obviously.
Que Sera
  • #37,594
  • Aug 8, 2024 10:10pm Aug 8, 2024 10:10pm
Price going to drop soon. going to dive badly.. 2380 break below.. high gravity.
SURFER
  • #37,595
  • Aug 8, 2024 10:15pm Aug 8, 2024 10:15pm
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  • #37,596
  • Aug 8, 2024 10:17pm Aug 8, 2024 10:17pm
Quoting Fadly-6000
{image}
What are your confirmation confluences
  • #37,597
  • Edited 11:48pm Aug 8, 2024 11:34pm | Edited 11:48pm
https://www.forexfactory.com/thread/...2#post14955112
XAUUSD H4 (tp 2530)
today a short stay at 2395 is tolerated. Regardless I expect to reach my goal=2530.
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XAUUSD M30
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  • #37,598
  • Aug 8, 2024 11:39pm Aug 8, 2024 11:39pm
Ukraine acknowledges Kursk incursion; Russia declares state of emergency
From upi.com
  • #37,599
  • Aug 8, 2024 11:40pm Aug 8, 2024 11:40pm
Quoting Fadly-6000
{image}
plan B
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  • #37,600
  • Aug 9, 2024 12:12am Aug 9, 2024 12:12am
Quoting Elliottway
Price going to drop soon. going to dive badly.. 2380 break below.. high gravity.
why?
People don't plan to lose. They lose because they don't plan.
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