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Gold (XAU/USD) with BiteFX

  • #21
  • Feb 19, 2025 1:58am Feb 19, 2025 1:58am
Quoting BiteFX
{quote} I am expecting a sell reversal from that high. So the current highest high on the chart is my SL. If that is breached, then I will find a buy entry position.
A sell from 2939. IS it something you see technically or because you expect profit booking at that level.

How to recognise a trend reversal different from the small correction ?
  • #22
  • Feb 19, 2025 3:56am Feb 19, 2025 3:56am
Quoting Gmom3155
{quote} A sell from 2939. IS it something you see technically or because you expect profit booking at that level. How to recognise a trend reversal different from the small correction ?
Technically.
Trend is up I know. And either way, I am positioned to make money.
The fall of last Friday how big was the correction that led to the fall? Once I see the parameters for an entry, I set the trade and forget about it.

Now, the market is showing more upward move. I am to join up. This is about focusing on the parameters set for entry and exit.

Do you get?
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  • #23
  • Feb 19, 2025 4:14am Feb 19, 2025 4:14am
A significant high is broken, it will retest and continue higher. Basic market structure.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20250219-111239.png Size: 38 KB
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  • #24
  • Feb 19, 2025 4:24am Feb 19, 2025 4:24am
Quoting Gmom3155
{quote} A sell from 2939. IS it something you see technically or because you expect profit booking at that level. How to recognise a trend reversal different from the small correction ?
Basic market structure of CHOCH signals reversal. And we do it the way explained earlier on the thread.
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  • #25
  • Feb 19, 2025 7:26am Feb 19, 2025 7:26am
Quoting BiteFX
A significant high is broken, it will retest and continue higher. Basic market structure. {image}
Upward movement is set to continue... We have joined.
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  • #26
  • Feb 19, 2025 10:07am Feb 19, 2025 10:07am
Valid sell Reversal... Buy continuation hit SL already.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20250219-170539.png Size: 26 KB
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  • #27
  • Feb 19, 2025 10:28am Feb 19, 2025 10:28am
Quoting BiteFX
Valid sell Reversal... Buy continuation hit SL already. {image}
This already looking like last week Friday's drop. But a very wicked drop it is I presume.
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  • #28
  • Feb 19, 2025 10:35am Feb 19, 2025 10:35am
If bears are really serious, they may visit 2877 again.
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  • #29
  • Feb 19, 2025 10:51am Feb 19, 2025 10:51am
Quoting BiteFX
{quote} Technically. Trend is up I know. And either way, I am positioned to make money. The fall of last Friday how big was the correction that led to the fall? Once I see the parameters for an entry, I set the trade and forget about it. Now, the market is showing more upward move. I am to join up. This is about focusing on the parameters set for entry and exit. Do you get?
At the momentwhen you see the uptrend do you close the downtrend positions you hold?
  • #30
  • Feb 19, 2025 11:18am Feb 19, 2025 11:18am
Quoting Gmom3155
{quote} At the momentwhen you see the uptrend do you close the downtrend positions you hold?
The way I do it is...
1. When I am expecting buy reversal but entered a sell, I will quickly close the sell position and join the buy.
2. If I was expecting a buy reversal and I have entered when a sell started, I will leave SL to decide the trade fate.
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  • #31
  • Feb 19, 2025 11:23am Feb 19, 2025 11:23am
I am so expecting this fall... All parameters set.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20250219-181227.png Size: 28 KB
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  • #32
  • Feb 19, 2025 12:26pm Feb 19, 2025 12:26pm
The levels below are TP considerations... I like to ride winners. I have trained my mind to do that.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20250219-192436.png Size: 30 KB
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  • #33
  • Feb 19, 2025 12:53pm Feb 19, 2025 12:53pm
Quoting BiteFX
{quote} {image}
Other parameters you may want to explore are... 1, 1, 23... 0, 0, 23. Just backtest and let's see what you find.
Nothing magical about 23. It's just that H1 TF trades 23 candles everyday.
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  • #34
  • Feb 19, 2025 1:03pm Feb 19, 2025 1:03pm
S$ continuation 2924.46
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  • #35
  • Feb 19, 2025 2:40pm Feb 19, 2025 2:40pm
We are waiting for SL or TP...
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  • #36
  • Feb 19, 2025 6:40pm Feb 19, 2025 6:40pm
This is a wide choppy market...market is still going back to 2935.77 again.
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  • #37
  • Feb 19, 2025 6:42pm Feb 19, 2025 6:42pm
In a choppy market, trend following strategy surfer losses... But will profit more during trending market. So, no headaches at all.
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  • #38
  • Feb 19, 2025 7:01pm Feb 19, 2025 7:01pm
S$ 2942.55 LO at imbalance high.
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  • #39
  • Feb 19, 2025 7:38pm Feb 19, 2025 7:38pm
Quoting BiteFX
S$ 2942.55 LO at imbalance high.
TP good.
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  • #40
  • Feb 19, 2025 7:38pm Feb 19, 2025 7:38pm
B$ 2934.90 LO... Let's continue uptrend.
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