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Gold (XAU/USD) with BiteFX

  • #41
  • Edited 8:00pm Feb 19, 2025 7:47pm | Edited 8:00pm
Quoting BiteFX
B$ 2934.90 LO... Let's continue uptrend.
In...
I won't be able, to screenshot post and trade simultaneously. Basic trade reason or idea has been shared on page one already. I'll just share entry price and or SLs. TP your way.
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  • #42
  • Feb 19, 2025 7:49pm Feb 19, 2025 7:49pm
Watching yesterday's close also for a B$.
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  • #43
  • Feb 19, 2025 7:51pm Feb 19, 2025 7:51pm
I went beast mode on Ichimoku configuration....think I love the view. Oh yeah!
1. 0 0 23
2. 1 1 23
3. 1 0 23
4. 0 1 23
All on one screen.
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  • #44
  • Feb 19, 2025 8:01pm Feb 19, 2025 8:01pm
B$ 2936.56
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  • #45
  • Feb 19, 2025 8:08pm Feb 19, 2025 8:08pm
Some years ago here on FF, I saw a guy who said his boss scolded him for selling gold. That, they only have one strategy... Buy gold! Later I got to understand the basic ideology behind that strategy... Gold never losses value.
But you and I retail traders don't know how deep a correction or retracement can be. So SL is very important to protecting your capital.
Me, I buy and sell on my set up. Period!
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  • #46
  • Feb 19, 2025 8:20pm Feb 19, 2025 8:20pm
Please, disclaimer! I don't sell programs, systems or anything to anybody. I just trade.
I learnt to and I trade to make money. Stay humble, horn your system until you are "there". There, meaning where you are comfortable trading that your system with confidence, discipline and a winning attitude.
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  • #47
  • Feb 19, 2025 8:24pm Feb 19, 2025 8:24pm
2944.20 is still our level... Refused to buy yesterday inside the up cloud. We will watch it closely as it is the end of the inverse head and shoulders pattern that has formed on our H1 TF now.
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  • #48
  • Feb 19, 2025 8:43pm Feb 19, 2025 8:43pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20250220-034021~2.jpg Size: 89 KB
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  • #49
  • Feb 19, 2025 9:21pm Feb 19, 2025 9:21pm
Quoting BiteFX
I went beast mode on Ichimoku configuration....think I love the view. Oh yeah! 1. 0 0 23 2. 1 1 23 3. 1 0 23 4. 0 1 23 All on one screen.
What does this mean ?
  • #50
  • Feb 19, 2025 9:25pm Feb 19, 2025 9:25pm
Quoting Gmom3155
{quote} What does this mean ?
I put all those on my chart. That is, I have four Ichimoku indi on my H1 TF with those parameters.
This post shows how it looks like.
https://www.forexfactory.com/thread/...0#post15156390
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  • #51
  • Feb 19, 2025 11:02pm Feb 19, 2025 11:02pm
B$ 2940.04
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  • #52
  • Feb 19, 2025 11:18pm Feb 19, 2025 11:18pm
The closing price of candles are very important.
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  • #53
  • Feb 19, 2025 11:26pm Feb 19, 2025 11:26pm
Bite fx when I use support and resistance in my chart i confused on that and I loss my trade at the end than some
Month ago I don't use tecnical in my chart I use to find the trend and trade the candle pattern and it's very profitable for me
  • #54
  • Feb 19, 2025 11:38pm Feb 19, 2025 11:38pm
With this system, I just debunked the whole HH, HL, LL, LH market structure for you.
Use one bull candle as High and one bear candle as low. Then permutate the price movement. You will be amazed.
In fact, I find it more interesting on H1 TF.
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  • #55
  • Feb 19, 2025 11:41pm Feb 19, 2025 11:41pm
Quoting BiteFX
2944.20 is still our level... Refused to buy yesterday inside the up cloud. We will watch it closely as it is the end of the inverse head and shoulders pattern that has formed on our H1 TF now.
Market is here again today. Let's see if the bulls got balls.
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  • #56
  • Feb 19, 2025 11:52pm Feb 19, 2025 11:52pm
Ok, now we are not expected to pick tops. As we are expecting a new ATH.
Gonna be pretty high because of the set up I estimate.
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  • #57
  • Feb 20, 2025 12:14am Feb 20, 2025 12:14am
I estimate more increase in price based on textbook charting technique. If a significant high or low is broken, it will retest and continue higher or lower.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20250220-071049.png Size: 28 KB
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  • #58
  • Feb 20, 2025 12:21am Feb 20, 2025 12:21am
Nothing special or mystical about the colors of my Ichimoku either.
Just grey and yellow, to enable me see the candles properly.
As Steve Nison once quoted the Japanese proverb in his book... "Candles exhaust themselves to give men light".
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  • #59
  • Feb 20, 2025 12:51am Feb 20, 2025 12:51am
Let's do a little imagination game...
Imagine
1. When you started trading newly all the accounts you blew because you felt the market will leave you behind.
2. The trades you entered at very low prices four or five years back but closed because you felt the market may go against you any moment. Which is very true in some instances not all the time.
3. If those trades were held, those which didn't later get back to your protective SL,

How much worth of Gold do you think you would have had by now?
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  • #60
  • Feb 20, 2025 12:58am Feb 20, 2025 12:58am
Quoting BiteFX
Let's do a little imagination game... Imagine 1. When you started trading newly all the accounts you blew because you felt the market will leave you behind. 2. The trades you entered at very low prices four or five years back but closed because you felt the market may go against you any moment. Which is very true in some instances not all the time. 3. If those trades were held, those which didn't later get back to your protective SL, How much worth of Gold do you think you would have had by now?
These were some of the thoughts that led to my search for a trend following strategy that is suitable to my personality and then I built it into tradable system for me.
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