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Attachments: Let's talk about gold - XAUUSD
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Let's talk about gold - XAUUSD

I try not not look that far into the future, my market bias will only last 24 hrs, ie I will reevaluate my trends every 24 hrs at 0:00 hr GMT.

I known that for the short term we are in a down trend , so I am shorting the intra day rallies, at least until Monday 0:00 hr GMT - 5:00 pm EST when I reevaluate this trend.

I understand the long term trend is most definitely up, But I am not trading off that trend.
a word of caution - the dollar and gold don't always act in opposite directions....remember that entities/individuals outside the US could move TO gold as a hedge if they see their currencies declining in the face of a strong dollar, as happened a number of years back....

beeb
Just updating the trend.
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Quoting beeb
a word of caution - the dollar and gold don't always act in opposite directions....remember that entities/individuals outside the US could move TO gold as a hedge if they see their currencies declining in the face of a strong dollar, as happened a number of years back....

beeb
I undestand what you mean, but XAUUSD means that we are talking about gold quoted in dollars. So if the dollar weakens across the board, 95% of the time it will weaken against gold too.

I undestand that during certain times (the other 5%) they may decouple, and that's why people should always use stops, this goes for any strategy.
Quoting operigote
I undestand what you mean, but XAUUSD means that we are talking about gold quoted in dollars. So if the dollar weakens across the board, 95% of the time it will weaken against gold too.

I undestand that during certain times (the other 5%) they may decouple, and that's why people should always use stops, this goes for any strategy.
i'm glad you understand....however if gold is massively bought in non-dollar currencies it will by the laws of supply and demand also increase in dollars....look back at the charts, it is by no means a perfect correlation..

beeb
I agree it can happen.
just updating, new trend coming in today...
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Still holding on to the long position...at least for the next 24 hrs, then we'll see.
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Heading into the weekend and still bullish, however I did decide to take profit on my long position initiated around $1,482 and closed today around $1,506. I did so because of to the high volatility shown today, figured it was better going into the weekend flat, that way I can enjoy my self and not have to worry about any gap reversals.
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It seems that gold is forming a base for further downward movement.
I expect that the current rebound will be ended at around 1530.
Gold is going to 1450
Quoting Mitserdof
It seems that gold is forming a base for further downward movement.
I expect that the current rebound will be ended at around 1530.
Gold is going to 1450
You wish!
Less is more...
Initiated a brand new short position this afternoon.
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You are all invited. There are a multiple threads already on the topic.

http://www.forexfactory.com/showthread.php?t=222032

This thread is already over a year old. ^^^^^^^

Quoting operigote
I wanted to create this thread for active gold traders to gather and share opinions about their outlook for gold as well as discussing strategies.

Gold is hotter than ever, with quantitative easing, low interest rates and skyrocketing government debt in the US...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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Im new to Forexfactory but am looking forward to sharing my thoughts. I trade Gold GC and Crude CL. Thats it. I trade using a 233 tick as my time frame and an 89 EMA. I am a buyer above the 89 and seller below. Very simple and backtested by me.

As a result of backtesting the above I have the confidence to take every setup and signal as it comes my way. Winners and losers both. It has a positive expectancy and I trust my signals.

The Signal is the Signal is the Signal.

One of the only ways to make money trading is by following a set of repeatable visual occurrences. Backtest, Sim Trade and go live.

Gold works very well on the above parameters. YG Mini Gold crosses on a 9 tick virtually the same as the 233 tick.

Good Luck

Trading is simple, not easy!
I have been trading for 19 years GBP/JPY on a daily chart was my main currency pair. In Octocber 2010 I switched to XAUUSD and have not looked back Presently I trade off a daily chart. XUUSD has a different feel and I personally find Gold a lot more profitable then any currency
The price has broken the 0,618 level of the last wave and it seems to target lower levels...and there are two possible targets :

According to the picthfork the target is 1662 level
According to the fibo tool the target is 1635 level

And now the price is just below

----the 0,618 level - 200 EMA - the median line

so this gives us a wonderful setup for SELL with a stop loss at 1760,13
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Imagination rules the world ...
Greetings good people.I have been scared to trade gold lately as it has a habit of going against me.I only got the right move which was a sell on this NFP,first time ever and I think it was luck or something but I WANT TO LEARN THE PROPER APPROACH on this. Now that I am on this side will someone highlight me on what to look for in order to be certain of my entries.My recent trade on gold proved to me that gold is the most profitable of them all.
What I realized is that when Dollar strenghens,gold drops and Euro also drops but I do not want to guess I want to be sure of my story.
What is the proper approach
Quoting SignalWizard
{image} Im new to Forexfactory but am looking forward to sharing my thoughts. I trade Gold GC and Crude CL. Thats it. I trade using a 233 tick as my time frame and an 89 EMA. I am a buyer above the 89 and seller below. Very simple and backtested by me. As a result of backtesting the above I have the confidence to take every setup and signal as it comes my way. Winners and losers both. It has a positive expectancy and I trust my signals. The Signal is the Signal is the Signal. One of the only ways to make money trading is by following a set of repeatable...
Can you please share the link of the parameteres you are usig,they seem helpful
Hi Roseweb

Please see the attachment I sent you and advice where necessary.
I followed your way of a set up and would like to know if I am on the right track.

Thanks a lot
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  • Post #40
  • Quote
  • Edited at 2:12am Jul 10, 2019 1:53am | Edited at 2:12am
Quoting Mmase12
Greetings good people.I have been scared to trade gold lately as it has a habit of going against me.I only got the right move which was a sell on this NFP,first time ever and I think it was luck or something but I WANT TO LEARN THE PROPER APPROACH on this. Now that I am on this side will someone highlight me on what to look for in order to be certain of my entries.My recent trade on gold proved to me that gold is the most profitable of them all. What I realized is that when Dollar strenghens,gold drops and Euro also drops but I do not want to guess...
#metoo bruh! I started with a 10K demo was up to 21K and now down to $188.00... I don't kno much, but I do kno gold and the dollar are inversely related fosho.

gold is a safe-haven, so if theres risk on a global scale, prices will go up....aaannnd das about all I know...

I'm tryna figure this out before the global markets take a turn

Quoting Mmase12
{quote} Can you please share the link of the parameteres you are usig,they seem helpful
dawwwwg... that post is pretty old, not sure if he's still around...

Quoting Mmase12
Hi Roseweb Please see the attachment I sent you and advice where necessary. I followed your way of a set up and would like to know if I am on the right track. Thanks a lot {image}
Whose roseweb? Where can I review their setups?
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