(binned per thread starter’s request) Gold Trading Explained

Gold is close to a break of level at 2934 (see H4 chart). Wait for 10h00!! Let m15 comes with a signal first.

No signal yet

Gold will print 2905 today

M15 is moving fast, a signal is most likely with close of hour.

Did you eat something bad?

have i done something wrong for this disrespectful comment?

Gold is really struggling, maybe Wale hasn't ate something bad!

Sorry, my apologies! Just can't see gold going down.

GBP is flying

Please how do you guys know if the candles are going up or down after the 6 candles count

Going to the food store, will talk again much later, everything is moving nicely. Dax a bit slow but will catch up.

i do understand why.
But imo the high of the week @ 2942 will remain in place for February in the worst case will take it by few.

We will face a down move to around 2834 in the next 3-4 days

Remind me that we should cover the topic of Fib retracements; one of THE most powerful indicators when it comes to gold.

Will check it out, thanks for you opinion. The weekly is overstretched; 7 weekly green candles in a row is really something for concern.

I'm back. Need to say something; please excuse my English if not always correct, it's not my home tongue, I'm part of the hated white minority in South Africa and speaks mainly Afrikaans.

If I might give my two cents re trading gold ..... I only recently started to trade it (like 3 months ago...before that I was trading forex for more than 10 years already), and mostly I go for few $ profit .... most will say it's scalping, but it's really profitable for me if trading with higher lot size .... anyway, what I wanna say it's I realize that on short time frame, 15min and lower, gold is going opposite way of EURUSD which could be extra confirmation for the quick profit .... please correct me if I am wrong, but that seems to be good indication for being in a trade for few $ at the time

Something about Fib levels which I guess not all of us know:
Fibs should very often be drawn from body to body not including wicks. See picture.

The question often came up; where should I put my TP?
When your trade line is set and candle 6 breaks through that line you can set your TP at 1000p as a fixed rule. It will seldomly not reach that target. You can bet on that.


PLEASE NOTE: It's been said many times in my posts on FF that the line should be drawn matching the bodies of the candles NOT the wicks.