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Trading Gold with PA

  • #161
  • Apr 18, 2013 4:06am Apr 18, 2013 4:06am
Quoting deepak925
Again, you can believe it or not, but I was going to post, here, yesterday: better post bro rather than speaking.
Basically, that is what I am doing.
This is how I got 74 pages on my thread,
over 1000 posts now, and believe or not, over 140 000 views since 19, March.
It is going to be a month tomorrow.

Here, I just jump in for a moment every now and then.
Trade the facts, not opinions.
  • #162
  • Apr 18, 2013 4:43am Apr 18, 2013 4:43am
Quoting Dadas
That is one of my points, though I am getting laughed at, that you can not trade GOLD on PA, alone. There are a lot of intuitive factors about trading GOLD. Such spikes are a standard procedure in situations as the present one. I call them SL wipe outs. They are building a Demand Zone, then they make a strong Spike which sometimes tests a new Low. My scenario from a couple of days ago stands strong! And, you can laugh as much as you want, it will only make you feel better!
I don't believe that I was laughing dadas.

The way I read the charts is that we have had a strong bearish trend.
The bulls took control and took price up and then it has been pretty much sideways movement for the last 48 hours.
There was a break-out down from the range that failed, but for the moment I would not consider a long entry until I see price break out of the top of the range.
If I see a PA set-up to go short at or near the top of the range, then I will enter. Especially if it allows entry with a small SL compared to the potential profit (being a move to the bottom of the range)
Of course that is just my way of trading and everyone is entitled to disagree.
If a short fails for me, I will still consider shorting at a higher price all the time that my reading of the charts indicates that shorting has a higher probability of success than a long position.

Attached Image (click to enlarge)
Click to Enlarge Name: gold 18 april h1 2.gif Size: 18 KB
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  • #163
  • Apr 18, 2013 5:18am Apr 18, 2013 5:18am
Quoting Gumrai
I don't believe that I was laughing dadas. The way I read the charts is that we have had a strong bearish trend. The bulls took control and took price up and then it has been pretty much sideways movement for the last 48 hours. There was a break-out down from the range that failed, but for the moment I would not consider a long entry until I see price break out of the top of the range. If I see a PA set-up to go short at or near the top of the range, then I will enter. Especially if it allows entry with a small SL compared to the potential profit...
Take a closer look at the H4.
Do not concentrate on smaller Tfs for GOLD.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-h4-fxsalt-ltd.png Size: 55 KB

I am +160 Pips in Long, now, and I ain't giving this one up so quickly!
Trade the facts, not opinions.
  • #164
  • Apr 18, 2013 5:19am Apr 18, 2013 5:19am
Quoting Dadas
Basically, that is what I am doing. This is how I got 74 pages on my thread, over 1000 posts now, and believe or not, over 140 000 views since 19, March. It is going to be a month tomorrow. Here, I just jump in for a moment every now and then.
74 pages of repeated nonsense in big bold font. You forget to tell your followers that you are not actually a trader but a philosopher.

As for Precious metals... They still look quite bearish on D1 TF. I would expect some supply reentering in Gold around 1500 area.
  • #165
  • Apr 18, 2013 5:32am Apr 18, 2013 5:32am
A Philosopher, Yes.
A Trader, Yes.

A Philosopher-Trader, indeed I am!

BTW.
Thank you for reading my "nonsence".

It have always found it curious, why people read nonsence?

Why read nonsence and try to comment it, in the first place?

I never waste my time on reading nonsence!

Oh, sorry, I did waste my time reading the Greenhaze nonsence post!
Trade the facts, not opinions.
  • #166
  • Apr 18, 2013 5:40am Apr 18, 2013 5:40am
Quoting Dadas
A Philosopher, Yes. A Trader, Yes. A Philosopher-Trader, indeed I am! BTW. Thank you for reading my "nonsence". It have always found it curious, why people read nonsence? Why read nonsence and try to comment it, in the first place? I never waste my time on reading nonsence! Oh, sorry, I did waste my time reading the Greenhaze nonsence post!
Bold again ... I know you claim to be also an english teacher but its actually pronounced "nonsense" Dadas.
I'm sorry Gumrai for this kind of input in your thread.
  • #167
  • Apr 18, 2013 6:05am Apr 18, 2013 6:05am
Quoting Dadas
Take a closer look at the H4. Do not concentrate on smaller Tfs for GOLD. {image} I am +160 Pips in Long, now, and I ain't giving this one up so quickly!
One of the problems with the H4 charts at the moment is that placing a sensible SL means 3, 4 or 500 pips. Even with mini lots, for many that means that they are unable to practice good risk management.
160 pips profit may sound great, but where was the initial entry, what was the criteria, what was the original SL, what was the original target?
This thread is about PA. I don't care about how you decide on S/R levels, that is up to the individual.
The one thing that I want to see is the traders interpretation of PA that led them to enter a position.
Simply posting a chart and expecting others to understand your reasons is not enough.
Again, I stress, S/R levels are subjective and I don't expect an explanation of those.
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  • #168
  • Apr 18, 2013 6:40am Apr 18, 2013 6:40am
Quoting Gumrai
One of the problems with the H4 charts at the moment is that placing a sensible SL means 3, 4 or 500 pips. Even with mini lots, for many that means that they are unable to practice good risk management. 160 pips profit may sound great, but where was the initial entry, what was the criteria, what was the original SL, what was the original target? This thread is about PA. I don't care about how you decide on S/R levels, that is up to the individual. The one thing that I want to see is the traders interpretation of PA that led them to enter a position....
OK, now you have made the context clear.

My basic PA on GOLD is based on H4 and higher charts.
Thus, I read Price Action from H4 charts on GOLD.
The M15/M30 context is just for more precise entries, which really
are not that important on GOLD.
And, yes, you are right about the SLs.

Thus, GOLD is the instrument to go for hundreds and thousands of Pips, not tens.

Now, that I have understood your context of trading GOLD,
I guess I have nothing to contribute, here, as the tens of Pips are better
to hunt for on pairs like EURJPY - safer and smaller Tf PA more reliable.

My criteria for Entry on GOLD was H4 PA.
I am holding this Long as long as possible!
Trade the facts, not opinions.
  • #169
  • Apr 18, 2013 6:45am Apr 18, 2013 6:45am
Quoting Dadas
...GOLD is the instrument to go for hundreds and thousands of Pips, not tens. Now, that I have understood your context of trading GOLD, I guess I have nothing to contribute, here, as the tens of Pips are better to hunt for on pairs like EURJPY - safer and smaller Tf PA more reliable. My criteria for Entry on GOLD was H4 PA. I am holding this Long as long as possible!
Why do you count everything in pips. It doesn't really matter, scale your position and voila ... effect is the same. Spread is proportionally the same to ATR ratio on Gold and EJ. If you are playing the same position size on both then you must be mad.
  • #170
  • Apr 18, 2013 6:54am Apr 18, 2013 6:54am
Price is near the high of the trading range. I am seeing reasons to enter short on M15 and I have opened the trade.
As I said earlier, the possible profits are far greater than the SL
What you see on the chart is that we had a bullish candle that retraced towards the close. That was followed by a bearish candle with a long lower shadow. This is a probing/testing candle.
Considfering the whole picture a break of the low of the probing candle could mean a move down.
As I have no reason to believe that the bulls are in control of the big picture, I am prepared to enter short. I am prepared to take the loss if I am wrong. But if I am right the reward could well prove the risk to be insignificant.

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  • #171
  • Apr 18, 2013 7:15am Apr 18, 2013 7:15am
Quoting Gumrai
Price is near the high of the trading range. I am seeing reasons to enter short on M15 and I have opened the trade. As I said earlier, the possible profits are far greater than the SL What you see on the chart is that we had a bullish candle that retraced towards the close. That was followed by a bearish candle with a long lower shadow. This is a probing/testing candle. Considfering the whole picture a break of the low of the probing candle could mean a move down. As I have no reason to believe that the bulls are in control of the big picture, I...
And, you may be right, tomorrow or Monday???

I do not see any signal on the H4 for Bears, yet.
Until the H4 closes as red (PTECZ), I have no reason to look for Exit from Long.
Trade the facts, not opinions.
  • #172
  • Apr 18, 2013 7:51am Apr 18, 2013 7:51am
Quoting Gumrai
Price is near the high of the trading range. I am seeing reasons to enter short on M15 and I have opened the trade. As I said earlier, the possible profits are far greater than the SL What you see on the chart is that we had a bullish candle that retraced towards the close. That was followed by a bearish candle with a long lower shadow. This is a probing/testing candle. Considfering the whole picture a break of the low of the probing candle could mean a move down. As I have no reason to believe that the bulls are in control of the big picture, I...
Took some nerve holding that short position when it kept testing the highs.
Time for me to shut down for the night.
Yet again taking a very small profit and feeling that I could do better. It's profit at least

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  • #173
  • Apr 18, 2013 7:57am Apr 18, 2013 7:57am
Quoting Gumrai
Yet again taking a very small profit and feeling that I could do better. It's profit at least {image}
At the end of the day, Profit is what this is all about!
Trade the facts, not opinions.
  • #174
  • Apr 18, 2013 8:05am Apr 18, 2013 8:05am
Quoting Dadas
And, you may be right, tomorrow or Monday??? I do not see any signal on the H4 for Bears, yet. Until the H4 closes as red (PTECZ), I have no reason to look for Exit from Long.
Who would be long in this market?

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  • #175
  • Apr 18, 2013 8:31am Apr 18, 2013 8:31am
Quoting Gumrai
Who would be long in this market? {image}
My minimum Profit is secure.
What happens, will happen.
Trade the facts, not opinions.
  • #176
  • Edited 9:21am Apr 18, 2013 8:46am | Edited 9:21am
So, I got +35 Pips.
Could have taken +220, or waited being at floating loss.

Anyway, since the Price wants to go down, now, let it go.

I will re-enter when I see the PA.

Attached Image (click to enlarge)
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Trade the facts, not opinions.
  • #177
  • Apr 18, 2013 1:41pm Apr 18, 2013 1:41pm
Quoting Dadas
And, you may be right, tomorrow or Monday??? I do not see any signal on the H4 for Bears, yet. Until the H4 closes as red (PTECZ), I have no reason to look for Exit from Long.
No, I was right today
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  • #178
  • Apr 18, 2013 2:07pm Apr 18, 2013 2:07pm
Quoting Gumrai
No, I was right today
Yes, and no.

You were right just for that few Pips you got.
I should not have set my SL that high.
I should have waited for the H4 to close, than either Exit on retrace up,
or keep the Long floating.

The effect is that I have lost the low Long Entry, now.
The Price is Consolidating, and does not want to go down.

I may not get it back.

I have my other observations how to tell with good
probability which way they want to go.
Trade the facts, not opinions.
  • #179
  • Apr 18, 2013 2:36pm Apr 18, 2013 2:36pm
Quoting Dadas
So, I got +35 Pips. Could have taken +220, or waited being at floating loss. Anyway, since the Price wants to go down, now, let it go. I will re-enter when I see the PA. {image}
35 pips is good if a 30 pip SL, not so great if a 300 pip SL.

Dadas, this thread is about PA.
Posting a chart and saying that you are long means nothing if you are not giving any reasons for taking a long trade.
Anyone can put some S/R zones on a chart and then say "There you are, I went long/short"
Yours posts lack any sort of credibility and yet you try to belittle mine with comments such as "You may be right tomorrow or next week"
The fact is that every trade that I claim to take can be seen on my Trade Explorer. Wherever possible, I will post about set-ups I see as they are happening.
Yes, your thread is full of sycophantic followers, lots of views and lots of posts. I stopped reading your thread because you just use a lot of words, but say nothing.
You are welcome to continue to post in this thread, but I have to insist that you stick to the subject. The subject is PA, not some mystical hogwash.
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  • #180
  • Apr 18, 2013 2:57pm Apr 18, 2013 2:57pm
Quoting Gumrai
35 pips is good if a 30 pip SL, not so great if a 300 pip SL. Dadas, this thread is about PA. Posting a chart and saying that you are long means nothing if you are not giving any reasons for taking a long trade. Anyone can put some S/R zones on a chart and then say "There you are, I went long/short" Yours posts lack any sort of credibility and yet you try to belittle mine with comments such as "You may be right tomorrow or next week" The fact is that every trade that I claim to take can be seen on my Trade Explorer. Wherever possible, I will...
Hey, man!
I was not trying to belittle you!
Sorry if you took it that way!

It is just the matter of context, how far you're looking into future.
I am aiming for thousands of Pips, thus it was a mistake to Exit, today.

And, sorry you had to repost in the same or worse manner, belittling my thread!

There are very experienced traders on my thread, too, who support me.
There are very experienced traders on my thread who take extra advantage of my method.

I am sorry that it is just BS for you.
Trade the facts, not opinions.
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