Trading Gold with PA | Page 6 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Spot gold EA from OG gold system 8 replies

Gold Miner - Gold future support and resistance level trade 7 replies

Attachments: Trading Gold with PA
Exit Attachments

Trading Gold with PA

  • #101
  • Apr 7, 2013 7:40am Apr 7, 2013 7:40am
You do not need to write PA, just show me your chart with your trade and I know everything.
Just show me your chart with a couple of Zones or lines, that is all I need.

Your explanation is not necessary.
Trade the facts, not opinions.
  • #102
  • Apr 7, 2013 7:58am Apr 7, 2013 7:58am
Of course, I understand the idea of the Candlestick.
I understand how Price builds the Candlestick.
Thus, I understand the information the Candlestick carries.

This is all you need to put the blocks together.
Trade the facts, not opinions.
  • #103
  • Apr 7, 2013 7:59am Apr 7, 2013 7:59am
Quoting Dadas
You do not need to write PA, just show me your chart with your trade and I know everything. Just show me your chart with a couple of Zones or lines, that is all I need. Your explanation is not necessary.
PA is not just about support or resistance zones. It is about the clues that the market gives around S/R levels
Please Do Not PM Me With Coding Enquiries
  • #104
  • Apr 7, 2013 8:05am Apr 7, 2013 8:05am
Quoting Gumrai
PA is not just about support or resistance zones. It is about the clues that the market gives around S/R levels
Yes, you are right.

Understanding the workings of the Candlestick.
Then, you can see what is happening observing the M5 Candles in action, live.

Clues are the Candlesticks and the information in them.

My PTECZ are the result of this information and this understanding.

But, my PTECZ are not the decisive factors.
The clues you are talking about, are the decisive factors.
PTECZ are just the Consolidation Zones.

You have not been reading my thread with understanding.

You have been reading my thread with a biased attitude.
Trade the facts, not opinions.
  • #105
  • Apr 7, 2013 8:30am Apr 7, 2013 8:30am
Let's suppose we have identified the Potential Floor Level for GOLD on D1:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-d1-fxsalt-ltd-3.png Size: 71 KB

And, you will agree that was the direction Price was heading, maybe still is.

We can switch to M5, if you wish:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-m5-fxsalt-ltd.png Size: 72 KB

What is there to write about, what you see on the chart?
You see the signals, the information in the Candlesticks.

Need more help, plot the PTECZ or whatever.

Where is the point You know that you want to Enter?
Trade the facts, not opinions.
  • #106
  • Apr 7, 2013 8:42am Apr 7, 2013 8:42am
And, the only clues for exiting are the historical S/R levels,
or when the Price is rejected by the opposite side.

Thus, my PTECZ which is the first Candle to reject the main trend.
Trade the facts, not opinions.
  • #107
  • Apr 7, 2013 8:44am Apr 7, 2013 8:44am
Quoting Dadas
Yes, you are right. Understanding the workings of the Candlestick. Then, you can see what is happening observing the M5 Candles in action, live. Clues are the Candlesticks and the information in them. My PTECZ are the result of this information and this understanding. But, my PTECZ are not the decisive factors. The clues you are talking about, are the decisive factors. PTECZ are just the Consolidation Zones. You have not been reading my thread with understanding. You have been reading my thread with a biased attitude.
Dadas, what you have done so far in this thread is post a lot of charts with zones marked and said "see how price has reacted to these zones"
How about posting a chart with these zones marked and maybe an explanation of what you expect price to do at these levels.

I am not reading your thread with a biased attitude because I no longer read your thread. I unsubscribed a few days ago because I have no clue what you are talking about.
Please Do Not PM Me With Coding Enquiries
  • #108
  • Apr 7, 2013 8:47am Apr 7, 2013 8:47am
Quoting Dadas
Let's suppose we have identified the Potential Floor Level for GOLD on D1: {image} And, you will agree that was the direction Price was heading, maybe still is. We can switch to M5, if you wish: {image} What is there to write about, what you see on the chart? You see the signals, the information in the Candlesticks. Need more help, plot the PTECZ or whatever. Where is the point You know that you want to Enter?
This post may make sense to you, it means nothing to me because you are saying nothing.
What is your point?
Please Do Not PM Me With Coding Enquiries
  • #109
  • Apr 7, 2013 8:55am Apr 7, 2013 8:55am
Quoting Gumrai
Dadas, what you have done so far in this thread is post a lot of charts with zones marked and said "see how price has reacted to these zones" How about posting a chart with these zones marked and maybe an explanation of what you expect price to do at these levels. I am not reading your thread with a biased attitude because I no longer read your thread. I unsubscribed a few days ago because I have no clue what you are talking about.
You have reached the clue issue:
Quoting Gumrai
explanation of what you expect price to do at these levels
I expect the price to either continue or reverse trend.
It is the PA clues which must tell me where the price wants to go.
I expect nothing.
I read PA when the Price is in Congestion.
I expect nothing. It is what you expect that makes you lose.
I read Price Action, Break Ups or Break Downs and trend confirmation - if you know what trend is.
Nobody can expect the Price to do anything.

When you expect the Price to go in a certain direction, you have programmed your mind.
That is when you lose.

I expect nothing, I show what I see.
I show the Potential Levels.

It is the Price which will show where it goes when it goes there.

Price always goes from Congestion to Congestion.
From PTECZ to PTECZ, just study my charts.

The train station is the Congestion.

The direction is the Break and the Trend it forms.

Once again, I expect nothing.
Trade the facts, not opinions.
  • #110
  • Apr 7, 2013 9:19am Apr 7, 2013 9:19am
On the H1 I see a Congestion (PTECZ).
I know the price is at a historical Low.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-h1-fxsalt-ltd.png Size: 66 KB

I expect nothing, the price can go down or up.

Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-m30-fxsalt-ltd.png Size: 72 KB


Does this explain better?
Trade the facts, not opinions.
  • #111
  • Apr 8, 2013 5:37am Apr 8, 2013 5:37am
First new hourly candle of the week opened with a small gap up at candle 4, bulls made minimal progress
Candle 5 extremely bearish and NAD shaven Candle 5 completed a 3 candle pattern in Japanese candlesticks analysis which is known as an evening star.
I don't take much notice of the last few hours' candles of the week and as the price was just above a level that had proved to be support as well as resistance, best to wait and see what happens.
The we have a series of indecisive candles with a fairly strong bullish candle at 6. This strong push up was strongly reversed with the next candle.
As there was no follow through from candle 6 and failure to make a new high, market is starting to look more bearish
Candle 7 was another bullish push up, but failed to even reach the high of candle 6 and was followed by an equally strong bearish candle.
So the current position is that we have price contained in a triangle with lower highs and price unable to break support. Even though we are 3 hours + into the London session there are no clear signals that either the bulls or the bears are willing to commit.
The triangle with the flat bottom suggests that the bears are slightly stronger than the bulls and it may be that they are waiting for a clear signal before commiting fully.
Ideally, I would like to see a final push by the bulls with a failure to take price to above the recent high with a strong bearish reaction that breaks support.

Attached Image (click to enlarge)
Click to Enlarge Name: gold h1 8 april.gif Size: 20 KB
Please Do Not PM Me With Coding Enquiries
  • #112
  • Apr 8, 2013 7:22am Apr 8, 2013 7:22am
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 19 KB
GBP/USD
  • #113
  • Apr 8, 2013 7:39am Apr 8, 2013 7:39am
Following on from my previous post...
The candle prior to candle 8 was a doji, yet again more indecision.
Candle 8 the bulls tried to push price up, but failed to make any impact and closed with a fairly long upper shadow and a bearish body.
I am thinking that with the lower highs that a break of support is imminent.
It was worth a short with a small position. SL above the high of candle 6

Attached Image (click to enlarge)
Click to Enlarge Name: gold h1 8 april trade.gif Size: 21 KB


Looking for reasons to set SL at BE, but nothing as yet
Please Do Not PM Me With Coding Enquiries
  • #114
  • Apr 8, 2013 8:19am Apr 8, 2013 8:19am
I will be consistent and post the picture.
I plotted the Zones with my plotting tools yesterday, or was it Saturday?
Before the Bulls reached the Zone.
I did not want to move them, thus the extensions:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-h1-fxsalt-ltd.png Size: 70 KB
Trade the facts, not opinions.
  • #115
  • Apr 8, 2013 8:37am Apr 8, 2013 8:37am
GOLD is now in Consolidation period after the Bullish run.
Any Shorts are potentially dangerous!
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdm15.png Size: 62 KB
Trade the facts, not opinions.
  • #116
  • Apr 8, 2013 9:18am Apr 8, 2013 9:18am
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-d1-fxsalt-ltd.png Size: 71 KB

Look at it this way:
Price is at the historical level, where there were Buyers (Bulls).
But, there were also Sellers (Bears), more recently.
So, the Price is half way between Bulls and Bears - Congestion.
Isn't that what we are seeing today?

It is pretty dangerous to make direction decisions today.
It is the time to watch PA closely.
Trade the facts, not opinions.
  • #117
  • Apr 8, 2013 9:41am Apr 8, 2013 9:41am
Quoting deepak925
{image}
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 30 KB
GBP/USD
  • #118
  • Apr 8, 2013 9:56am Apr 8, 2013 9:56am
Now, since the Price wants out the bottom, find the next potential levels:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-d1-fxsalt-ltd-3.png Size: 71 KB

This support is stronger, but it reaches all the way down almost to the floor level.

Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-m15-fxsalt-ltd.png Size: 63 KB
Trade the facts, not opinions.
  • #119
  • Edited 4:32pm Apr 8, 2013 4:13pm | Edited 4:32pm
Quoting Gumrai
Following on from my previous post... The candle prior to candle 8 was a doji, yet again more indecision. Candle 8 the bulls tried to push price up, but failed to make any impact and closed with a fairly long upper shadow and a bearish body. I am thinking that with the lower highs that a break of support is imminent. It was worth a short with a small position. SL above the high of candle 6 {image} Looking for reasons to set SL at BE, but nothing as yet
I had other things to do, unable to monitor the trade. As the break wasn't as forcefull as I would like, I closed the trade with just 12 pips profit. Price did fall further after I exited, but that's life
Will see if price tests broken support later for a possible re-entry

Attached Image (click to enlarge)
Click to Enlarge Name: gold h1 8 april trade 2.gif Size: 20 KB
Please Do Not PM Me With Coding Enquiries
  • #120
  • Apr 9, 2013 6:20am Apr 9, 2013 6:20am
just stuck around 1550 next stop could be back up 1800..
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 79 KB
GBP/USD
0 traders viewing now