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Trading Gold with PA

  • #281
  • May 9, 2013 12:25pm May 9, 2013 12:25pm
Yeah, a pretty messed up day for me, too.
Was in the same mind as you!
Though, I screwed it up myself.
Was good in Short at Top but started scalping.
Then, missed the H4 Entry and saw the Break Out later, and the rest is on the chart.
Attached Image (click to enlarge)
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Trade the facts, not opinions.
  • #282
  • May 9, 2013 2:56pm May 9, 2013 2:56pm
Saved the day a bit at the end with +20 Pips.
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This was according to my rules, so it worked.
Trade the facts, not opinions.
  • #283
  • May 14, 2013 7:26am May 14, 2013 7:26am
Looking at H1 chart.
There has been no real sense of direction so far this week.
Seeing the long lower shadow of the last completed candle at support, I am waiting to see if the bulls can follow through and capitalise on what could be bearish weakness,
This current candle is only 20 minutes old and I will need to see it close as a bullish candle before going long.
Reason: TP could give a good R:R with a sensible SL
Attached Image (click to enlarge)
Click to Enlarge Name: gold 14 may.gif Size: 19 KB
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  • #284
  • May 14, 2013 7:50am May 14, 2013 7:50am
My Trades of Today.
All Traded off the M1 chart upon S/D & PA with the use of my PTECZ.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-m5-fxsalt-ltd.png Size: 48 KB

+127.5 Pips

And, it is getting very consistent!
Trade the facts, not opinions.
  • #285
  • May 17, 2013 5:15am May 17, 2013 5:15am
H1 chart.
When I see a strong bearish candle such as prior to candle 1 with no apparent follow through, I pay attention.
Candle 1 with the long upper shadow shows that the bulls tried to assert themselves but failed
Candle 2 made a 2 candle double bottom and with a shaven top meant that the bulls meant business.
I went long at the break of the candle 2 high.
I am aware that this is against the main trend, so was prepared to exit quickly if things weren't going my way
I think that I will be moving SL to BE soon
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  • #286
  • May 17, 2013 5:49am May 17, 2013 5:49am
Price is stalling and unable to break the bearish trend line.
I will be out of this trade soon, I thinkl
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  • #287
  • May 17, 2013 5:52am May 17, 2013 5:52am
I am out with a paltry 9 pip profit.
Now looking at shorts
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  • #288
  • May 17, 2013 7:06am May 17, 2013 7:06am
Following on from previous posts
M30 chart
Price unable to break above bearish trendline
Candle 1 a bullish candle but no follow through.
Candle 2 an indecisive doji
Candle 3 unable to break the high of the previous 2 candles, Bearish candle with a small lower shadow compared to the upper shadow.
Good signal to short.
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  • #289
  • May 22, 2013 6:56am May 22, 2013 6:56am
I entered a long position at the arrow on the M15 chart
I entered at the break of the candle with the arrow. As I entered manually price had dropped a bit in my favour.
Price had been rejected at a resistance level that now appeared to be acting as support. The candle prior to the arrow had a long lower shadow that was once again rejected at this S/R level forming a localised double bottom.
Seemed reasonable to me to enter a long position here.
Initially it wasn't looking so good, but I had my SL below the DB and was prepared to allow the trade to do what it wants. I am not wrong until there is a break of the DB.
With the strong surge upwards and break of the previous high, I have now placed a 50 pip ($5) trailing stop
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  • #290
  • May 22, 2013 7:32am May 22, 2013 7:32am
Stopped with a 38 pip profit
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  • #291
  • May 22, 2013 8:59am May 22, 2013 8:59am
Attached Image (click to enlarge)
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+49.3 Pips
Closed because I wanted to repeat on retrace,
and still counting on it.
Trade the facts, not opinions.
  • #292
  • May 22, 2013 9:26am May 22, 2013 9:26am
Still Bulls ain't giving up.
Soon, just patience.
Trade the facts, not opinions.
  • #293
  • May 22, 2013 9:45am May 22, 2013 9:45am
Fat Guys know what they're doing pushing up!
They,ve just made a whole lotta Pips!
Trade the facts, not opinions.
  • #294
  • May 22, 2013 9:54am May 22, 2013 9:54am
That's a classic, if I know GOLD!
I am in short and counting Pips!
Trade the facts, not opinions.
  • #295
  • May 22, 2013 10:12am May 22, 2013 10:12am
+300 Pips

But, I won't show, because it is not the way to Trade.
I do not know anything about Trading.
My method is strange and as one said:

"I do not know a jack ass about trading,
and I do not know how to trade,
and I am only misleading people."

Thank You RJ.
Trade the facts, not opinions.
  • #296
  • May 22, 2013 10:24am May 22, 2013 10:24am
Quoting Dadas
+300 Pips But, I won't show, because it is not the way to Trade. I do not know anything about Trading. My method is strange and as one said: "I do not know a jack ass about trading, and I do not know how to trade, and I am only misleading people." Thank You RJ.
DRAMA QUEEN!
  • #297
  • May 22, 2013 11:15am May 22, 2013 11:15am
Aaaaaand, POP, goes the Weasel!

I Love You Man in Green!

Everytime I Fart, Greenhaze appears!
Trade the facts, not opinions.
  • #298
  • May 22, 2013 12:58pm May 22, 2013 12:58pm
Quoting Dadas
Aaaaaand, POP, goes the Weasel! I Love You Man in Green! Everytime I Fart, Greenhaze appears!
Glad to hear that you also call your input "farting"
  • #299
  • May 22, 2013 3:11pm May 22, 2013 3:11pm
Quoting Dadas
{image} +49.3 Pips Closed because I wanted to repeat on retrace, and still counting on it.
Reading PA is a discretionary art and so PA traders may make different decisions when looking at the same chart.
Personally, looking at your chart, I cannot see any PA that suggests a short at that time would be a good idea.
Sometimes PA is obvious, but in this case, I feel that a short explanation of the reasoning behind the trade would be a useful contribution to this thread
Attached Image (click to enlarge)
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Your posts after that are more of a trading log. Please do not just post results with no details of how PA got you into the trade.

Thankyou
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  • #300
  • May 22, 2013 5:11pm May 22, 2013 5:11pm
Quoting Gumrai
{quote} Reading PA is a discretionary art and so PA traders may make different decisions when looking at the same chart.Personally, looking at your chart, I cannot see any PA that suggests a short at that time would be a good idea.Sometimes PA is obvious, but in this case, I feel that a short explanation of the reasoning behind the trade would be a useful contribution to this thread{image} Your posts after that are more of a trading log. Please do not just post results with no details of how PA got you into the trade. Thankyou
Sorry Gumrai,
I am kind of busy, get hundreds of emails and SKYPE contacts.

The Entry is a long story based on W1 and H4 Ranges as S/R levels,
Price Behaviour over the whole of yesterday and today, and
earlier in history, plus a couple of experience factors
about how the Fat Guys move the Price.

Also on the understanding of the Market workings.
What has been given must be taken back and vice-versa.

The left side tells the story, on H4, which is not visible on M5, of course.

What happened later illustrates the Fat Guys, as they moved the Price up to the next Range Level.
A lot of less experienced Traders probably went Long, there.
My reading of PA on H4 told me yesterday that there should be a Short, only from which level
that is sometimes the difficult part.

Even my initial TP Levels have all been reached according to the PTECZ (Range) Support.
Only a couple of hours later, which I did not want to wait for.

Attached Image (click to enlarge)
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Trade the facts, not opinions.
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