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Gold

  • Post #4,881
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  • Edited Jan 20, 2023 1:41am Jan 19, 2023 11:00am | Edited Jan 20, 2023 1:41am
UPDATE:

Three active short positions

1922
1918.13
1928

Sell Limit @1928 (Third short position)

Take Profit (Variable but atm 1918)

=======================================
Opening Short position @ 1918.13 TP1918 (or Manually Closed)

Sell Limit @1922 (Just in case price go up to add more short positions)

I took that trade because i see divergence on M5 time frame
Love for all; Hatred for none.
i think that the 1930 level will be strong resistance for now

i might sell with a stop above 1935 if the price fails to exceed 1930 today
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
I am constantly updating my positions. Here is my H1 chart and I am hoping that on H1 timeframe , these two wicks (with crossing red line) will be strong support.

But I can not ignore Forexgoose analysis, Forexgoose is always very helpful so I added Sell limit @1928
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Love for all; Hatred for none.
Quoting ForexGoose
i think that the 1930 level will be strong resistance for now i might sell with a stop above 1935 if the price fails to exceed 1930 today
I think it may go to 1980 before any decent pullback
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
Quoting eastrader
{quote} 1928 i'll stop there
Reached 1928 , closing all my positions. Price i think will search for next at 1995 but will wait for a setup.

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wise man say, only fools rush in
Based off the daily movement to me we can anticipate gold to possibly hit 1950 or 1970 area based off the POR (point of release).
From that level we can expect a strong sell off, today we tapped just past the liquidity pocket and I would assume we will hit a higher level.
Going down to 1hour timeframe I have marked a few levels we can anticipate where price will go after its sell off.
A) Just under the 1900 level for liquidity to drain a little
B) 1880 area is another level we can anticipate price reaching. Based off the the strong move from that level. All together when price starts a sell off there is potential for a swing from the daily reaction level. Where it will ultimately go I have no idea, just watch how price responds to certain levels and monitor reaction, retest shelf and continuation. The candles can sometimes give away clues if we are having a true reaction or if price will continue. Smaller consolidation in any direction usually indicates a continuation especially with the momentum gold has when it is headed in either direction.
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"Anger clouds the mind. Turned inward, it is an unconquerable enemy."
Quoting eastrader
{quote} Reached 1928 , closing all my positions. Price i think will search for next at 1995 but will wait for a setup. {image}
Beautiful
"Anger clouds the mind. Turned inward, it is an unconquerable enemy."
Quoting mastersplint
Based off the daily movement to me we can anticipate gold to possibly hit 1950 or 1970 area based off the POR (point of release). From that level we can expect a strong sell off, today we tapped just past the liquidity pocket and I would assume we will hit a higher level. Going down to 1hour timeframe I have marked a few levels we can anticipate where price will go after its sell off. A) Just under the 1900 level for liquidity to drain a little B) 1880 area is another level we can anticipate price reaching. Based off the the strong move from that...
Now is it possible Going down 1900 or 1880 then they back to hit 1950 or 1970
Quoting mastersplint
Based off the daily movement to me we can anticipate gold to possibly hit 1950 or 1970 area based off the POR (point of release). From that level we can expect a strong sell off, today we tapped just past the liquidity pocket and I would assume we will hit a higher level. Going down to 1hour timeframe I have marked a few levels we can anticipate where price will go after its sell off. A) Just under the 1900 level for liquidity to drain a little B) 1880 area is another level we can anticipate price reaching. Based off the the strong move from that...
since the previous daily candle closed above 1919.05 i will focus more on buy. am a newbie trying to figure out things.
Can't resist the pullback, just a day entry.

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wise man say, only fools rush in
Another breakout maybe, just another partial & let it go.

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wise man say, only fools rush in
Quoting eastrader
Another breakout maybe, just another partial & let it go. {image}
I Think so too, just recoiling/retracing for going higher, next is 1941 or 1950?
Quoting ForexGoose
{quote} I think it may go to 1980 before any decent pullback
Imagine, it could well happen today, all the way to 1980, then it should definitely become exhausted to the upside!
Quoting eastrader
Another breakout maybe, just another partial & let it go. {image}
It seems like Gold is sluggish today, after the spectacular climb in Asian session, doesn't look like it wants to climb any more, and wary of Fed speaks on their way.
Quoting Ravenfeeder
{quote} I Think so too, just recoiling/retracing for going higher, next is 1941 or 1950?
Maybe , but for weekly is 1995.
For h4 & daily there is not a significant breakout, just a new high thats why 1st retest already hit target at asian.
But its clear that Daily & weekly shows a bull inside.
Maybe next week will do.
wise man say, only fools rush in
Still bulls at H4, just now seems a bulls after 2nd retest but still weak.
That demand is a break actually and i think will go up

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wise man say, only fools rush in
Quoting shikz
{quote} since the previous daily candle closed above 1919.05 i will focus more on buy. am a newbie trying to figure out things.
Yea never follow someone else chart. Its all based on my style of trading, when I enter, sl placement all that. We are all different with different tolerances and ways of approaching entry and exit. I just post higher projections but can easily change from how we move during each session. My 1h analysis could end up being wrong, I have levels I am looking for then also look into how the candles respond. They tell the story and mentality behind the move
"Anger clouds the mind. Turned inward, it is an unconquerable enemy."
Quoting tauhidur
{quote} Now is it possible Going down 1900 or 1880 then they back to hit 1950 or 1970
Anything can happen. Just gotta keep an eye on certain levels and monitor how price responds when the level is tapped. There are also micro levels within the 1h that will be respected and can change the overall outlook. Cant be rigid, gotta follow whatever price is telling you
"Anger clouds the mind. Turned inward, it is an unconquerable enemy."
Quoting aahmad29
UPDATE: Three active short positions 1922 1918.13 1928 Sell Limit @1928 (Third short position) Take Profit (Variable but atm 1918) ======================================= Opening Short position @ 1918.13 TP1918 (or Manually Closed) Sell Limit @1922 (Just in case price go up to add more short positions) I took that trade because i see divergence on M5 time frame
I forgot to update. All three short positions closed @1921.50

1. 1928-1921.50 ; Profit 650 points
2. 1922-1921.50 ; Profit 50 points
3. 1918-1921.50 ; Loss 350 points

Net profit : 350 points
Love for all; Hatred for none.
possible zones to look out for next week. it seems like bulls are still in power but if price plays with the 1930-35 level we can see a sell off and if breaks above that level next target would be 1950s range
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