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Gold trading journal

  • #1
  • First Post: Feb 8, 2017 7:46am Feb 8, 2017 7:46am
Hello traders, for those who care for Gold!

I decided to start a new journal for 2017, it would be appropriate for me and my trading plans.

So, on the chart, I got in this trade shortly after been taken out earlier.
I waited for the pull back to some resistance, wich was the latest highs, and got in according to my plan.

Speaking of wich, I use CCI(20), EMA's: 20,50,200,600 and support/resistance.
On the chart, you'll see the CCI was not in compliance with my judgement because it was below 50. According to the CCI and my plan, I should of bought at #2 wish represent the bull candle at #3. Or the following candle. I only use CCI to time the entry. Target around 1250.

Any ideas you want to share or comment, feel free and be responsible.

Happy trading!

Matt

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  • #2
  • Feb 8, 2017 1:07pm Feb 8, 2017 1:07pm
Just moved my stop to BE after seeing this pull back.

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  • #3
  • Feb 9, 2017 2:57am Feb 9, 2017 2:57am
Good day traders,
I just wanted to point out an interesting fact about the moving averages.
Below is a 15M chart of the precious metal and you can clearly see the strength of the trend. In the last 12 hours, I could of closed the position 3 times. Instead, I covered myself with a stop at BE in case the trend continues and it did. I always wait for a cross of the 20 and 50 EMA's to confirm the trend change. And I try not to use the 5M for that matter because of the noise.
Now, as I am writting, I can see potential divergence happening and this could put an end to my position. I'll have to wait and see. This will happen in the next few candles if it does.
I'll update later.

Happy trading!

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  • #4
  • Feb 9, 2017 7:29am Feb 9, 2017 7:29am
A quick update on the trade.
I was traveling from work to my house when the nice structure formed. Notice it bounced of the 200 EMA. I am still in the trade but keeping a close eye on it. Stop in place at a nice spot too.

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  • #5
  • Feb 10, 2017 12:37pm Feb 10, 2017 12:37pm
Quoting frenchiematt
A quick update on the trade. I was traveling from work to my house when the nice structure formed. Notice it bounced of the 200 EMA. I am still in the trade but keeping a close eye on it. Stop in place at a nice spot too. XAUUSDM15.png;2180362 {image}
Got stopped out at Break Even on the trade. I tried to join in the down move that followed but did not work out.
Now currently holding 2 long positions and going as per the 4H. It should retest the latest highs.

Happy trading

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  • #6
  • Feb 20, 2017 9:36pm Feb 20, 2017 9:36pm
Good evening traders, took this trade this morning even though it was a Holiday in the States.
I was using 1238.00 as a level for a reversal. Just hit TP, +3R.

Happy trading!

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  • #7
  • Feb 21, 2017 8:18am Feb 21, 2017 8:18am
Currently looking at 1228.89 as a level for trend continuation. That's to the down side. Or maybe forming a triple bottom? How knows?

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  • #8
  • Feb 21, 2017 8:23am Feb 21, 2017 8:23am
Quoting frenchiematt
Currently looking at 1228.89 as a level for trend continuation. That's to the down side. Or maybe forming a triple bottom? How knows? {image}
Order is in. A stop of 12 pips and a TP of 36 pips. BE 18 pips in.
I don't always post winners!

Happy trading!

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  • #9
  • Feb 21, 2017 8:47am Feb 21, 2017 8:47am
Well that is it for this one! Seconds before getting stopped for BE. No loss, no gain.

Happy trading!

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  • #10
  • Feb 22, 2017 9:13am Feb 22, 2017 9:13am
The latest trade. Looking for some profit on the way down! Already at BE.

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  • #11
  • Feb 22, 2017 9:45am Feb 22, 2017 9:45am
Quoting frenchiematt
The latest trade. Looking for some profit on the way down! Already at BE. {image}

And it did! +3R.

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  • #12
  • Feb 22, 2017 10:42am Feb 22, 2017 10:42am
Quote
Instead, I covered myself with a stop at BE in case the trend continues and it did. I always wait for a cross of the 20 and 50 EMA's to confirm the trend change.
I like that logic, EMAs are so simple but so helpful. Keep going. I know a top gold trader (according to ForexFactory statistics) seems to trade in a similar manner as well. and great balance growth.
  • #13
  • Feb 22, 2017 11:31am Feb 22, 2017 11:31am
Currently looking for the price to retrace to around 1234.60 to sell and upfully reaches the ADR low at 1227.00
The M15 looks pretty good. At 1400 EST might be volatile market so watch out.

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  • #14
  • Last Post: Feb 23, 2017 9:33am Feb 23, 2017 9:33am
Trying to catch some profit after the strong move this morning! Already at BE.

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