Trailing becomes preferable......if it means i re enter then so be it......
hope we all managed to bag some pips
I thought you would be enjoying this
this pattern of gold, is same as 30 august - 2 sept , so it need more time
I still held onto Last weeks sell orders from 1540, closed them this morning only...so its all relative Anilamil....
and hey - i only use the ones that matter!
I can see you have been enjoying your trading profits from past couple of months...hehehehe.
As things stand, h1 is in the process of turning bullish, its safe to say the h1 inverted head shoulders played out, PA is busy stalling around some key levels.....a good sign for bulls is price remaining above the m15 200 ema......its taken all day, also worth noting is how we close the day........
As things Stand
H1 in the process of flipping bullish and forming a buy zone, as such its neutral.
H4 PA currently in sell zone, testing lower band of sell zone...
H4 sell zone:1497.85 - 1505.1
Should the h1 structure play it, target would be complete at 1505/6( handle was key support when price was coming down).
Bulls need to see h4 hold onto that 200 ema on a closing basis....
Very Important to wait for levels and monitor PA at said levels
Intra day levels
Buy orders still intact from current structural support as per buy order this morning.
The intra day levels are a combination of factors based on price movement in a particular day bro, mainly horizontal support and resistance, some fibo projections and then ofcourse the emas etc, when all of these factors start to align with one another you can mark the levels out more so when one level becomes more prevalent etc....i hope this makes sense mate
Edit: yes the candle close is of more importance to me then the spikes, the spikes at times may even vary from broker to broker by alot, but the closes and opens of the candle body will most accurately match the market in most instances......
Hope this makes sense
Chasin pips and following the market as it treads along.....its good to have you back!
Just looking at PA at the moment....
H1 Flat, and h4 200 ema has been acting like a magnet for PA. But so long as we can stay above it and challenge the m15200 ema and close above it we may see a break of 1498, but till that happens we continue selling this h4 sell zone.....
Clean break of 1498
H1 head and shoulder target at 1505 almost reached.
Next intra day target comes into play.....
We pick away at them one at a time....
As Things Stand
Following sell offs from h4 lower band, price is testing the H4 upper band now.
Clear depiction of newly formed H1 Zones.......
H1 200 EMA(1508.74) lies just above our next intra day upside level 1507.11...
As mentioned in previous posts PA testing upper band of H4 Sell Zone......
So looking thereabouts for possible price rejection back towards H1 buy zone.
to load more longs.....
Eur news how could effect on gold price?
Intra Day Levels Playing Out well so far.....
Bit of a bounce and indecision near the Second Upside upside level at the moment.....
H1 Buy Zone creeping higher....Upper band currently at 1499.76 lower band 1496.92
So buy dips above the 1500 mark will be another plus sign for bulls, the H1 buy zone edging close to weekly support handle.....
H4 sellers have managed to keep prices capped near yesterdays target price for the inverted head and shoulder off of the h1 chart.....
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