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Darkangels pips hunter

  • #1,541
  • Jun 15, 2021 12:12pm Jun 15, 2021 12:12pm
Quoting aeternum
{quote} No problem. I was just confused why that was quoted to my message. Anyway to add on gold, If we don't break 1912, I'm expect a Daily retrace down to 1840-1845 region at minimum. Based on fib retracements, the current move up has 38.2 retracement level at 1823. If price heads there and cools down, we have a potential to push up to 1950. If I were to estimate with elliot waves, I would say we are still missing a significant down move regardless here.
Discussed in May... We did hit 1840-1845 region and there was a significant retracement up immediately after but no follow up. Felt like profit taking after the big sell from 1902/3 region. Looks like news will be crucial in showing us the way.

We are still missing the retracement level at 1823/5 and this area coincides with extension of current down move at around 1829. Yesterday's retracement already gave us 38.2 of the down move at 1866.95.

50 fib retracement of previous down move lies at 1873.84 while 61.8 lies at 1880.72. I'm starting to be unsure of that push up into 1950 now. If anything, probably a retracement towards 1880 before a drop down to 1823/5 will be likely. It may bounce after that past 1916 but at this point, price is trading along 200EMA on 4H so it is very much a make or break level.

I do hope it can get up to 1880 first for a more significant retracement. What are your thoughts DA?
A 1 pip gain is better than a 1 pip loss.
  • #1,542
  • Jun 15, 2021 12:51pm Jun 15, 2021 12:51pm
Part of the reason that gold collapsed is President Biden around visits to other countries that send a clear signal that he is the right man to handle the US economy but also that the US keep on reopening good trading relations with other countries which will reflect well on the valuation of the US economy and with this said bad for gold, such has happened before but the effect is usually short-lived. And on the other hand, covid19 is a strong tool for Big Guys to control the market, they say that more people get vaccines then we see gold falls, they say that new type of covid19 discovered some Delta or Mega and that it is resistant to existing vaccine then gold goes like rocket.
All this controls the market, ie. banks, investors, traders and affect their attitude as we all trade our belief.
Fibb extension, expansion, etc. is just a way to be able to interpret traders, banks, finance institutes' behave so that we can take the right side of the trade.

If we ask ourselves what is fibb 50 or 61.8 it is called the golden level, they are in fact just lines on the sand and have none of any significance, but when enough of us believe in it and take a position based on this level then it becomes very effective and can actually be used as a reference.

Sometimes the price ends up at an effective fibb level like 50, 61.8 and during a particular time that allows this level to act stronger than usual, the reason that smart traders take into account timing as they already know that the same fibb level at other times acts a lot weaker.

Trading requires not only technical analysis but understanding of the fundamental side as well as timing.
If you manage to master this then everything else is irrelevant, capital will chase you just to get the chance to be part of your business.
  • #1,543
  • Jun 15, 2021 9:27pm Jun 15, 2021 9:27pm
Good morning all! Missed most of the trades yesterday as I was too busy at work. Did manage to catch the GJ drop for a bit though. Lets see what we'll have today.

Great lesson on fundamentals! You have worded it so perfectly.

Scalping GOLD long back to 1865 as the markets seem to be coiling/positioning up for the big news releases. Don't have any take on the charts yet.
Entering GJ short to 154.5 for yesterday's low and second target last week's low of 154.1. Short is due to reaching 50% of yesterday's drop.
  • #1,544
  • Jun 15, 2021 10:25pm Jun 15, 2021 10:25pm
Good day DA and everyone !!
i bought gold at 1854, i hope today it can be up to 1870 before FOMC.
May green pips be with all of us
  • #1,545
  • Jun 15, 2021 11:03pm Jun 15, 2021 11:03pm
Quoting darkangel13
Part of the reason that gold collapsed is President Biden around visits to other countries that send a clear signal that he is the right man to handle the US economy but also that the US keep on reopening good trading relations with other countries which will reflect well on the valuation of the US economy and with this said bad for gold, such has happened before but the effect is usually short-lived. And on the other hand, covid19 is a strong tool for Big Guys to control the market, they say that more people get vaccines then we see gold falls,...
Thank you for the explanation.

Yes, I am still learning. Right now I am way too focused on the indicator technical analysis instead of understanding the full picture.

In that case FOMC would likely show us the way of the next market move if I understand what you're saying correctly since big boys will use that to push the market in that direction?
A 1 pip gain is better than a 1 pip loss.
  • #1,546
  • Jun 15, 2021 11:04pm Jun 15, 2021 11:04pm
Quoting YumiYummy
Good day DA and everyone !! i bought gold at 1854, i hope today it can be up to 1870 before FOMC. May green pips be with all of us
Wow Yumi, always in with those good positions. I missed the 1852 and 1853 moves as I was still sleeping, otherwise I would have bought in as well. But interesting to see what price is doing.
A 1 pip gain is better than a 1 pip loss.
  • #1,547
  • Jun 15, 2021 11:35pm Jun 15, 2021 11:35pm
Quoting aeternum
{quote} Wow Yumi, always in with those good positions. I missed the 1852 and 1853 moves as I was still sleeping, otherwise I would have bought in as well. But interesting to see what price is doing.
Yeah i am just lucky Price now move to 1859, i move my SL to 1854
  • #1,548
  • Jun 15, 2021 11:43pm Jun 15, 2021 11:43pm
Quoting YumiYummy
{quote} Yeah i am just lucky Price now move to 1859, i move my SL to 1854
Good Morning Yumi, i missed the trips, waiting for next
  • #1,549
  • Jun 15, 2021 11:51pm Jun 15, 2021 11:51pm
Quoting YumiYummy
{quote} Yeah i am just lucky Price now move to 1859, i move my SL to 1854
Amazing! I see that we are being stopped by the previous resistance at 1860.36. Need to break above this to see 1864 - 1868 again.

I think if we see 1870, we may see 1872-1875.

Edit - I'm short scalping at 1860 level. Should get a sizeable retracement. We have a upwards trendline below thus far too.
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A 1 pip gain is better than a 1 pip loss.
  • #1,550
  • Jun 16, 2021 12:04am Jun 16, 2021 12:04am
Quoting aeternum
{quote} Amazing! I see that we are being stopped by the previous resistance at 1860.36. Need to break above this to see 1864 - 1868 again. I think if we see 1870, we may see 1872-1875. Edit - I'm short scalping at 1860 level. Should get a sizeable retracement. We have a upwards trendline below thus far too. {image}
Yeah maybe it just sideway and no much move until tonight
  • #1,551
  • Jun 16, 2021 12:12am Jun 16, 2021 12:12am
Quoting YumiYummy
{quote} Yeah maybe it just sideway and no much move until tonight
Yeah. I have never seen a weekly bar go so far down only to make a full about turn with a long wick below. Even if it is positive tomorrow, I'd expect it to continue dropping afterwards. On the daily I still see a possibility of 1824, maybe even 1800. It might be possible that it will test that daily downwards trendline that it broke a 2 weeks ago before a bigger bounce up.

I just closed my sell for 8 pips. Going to wait and see if I can get another position at another resistance level.
A 1 pip gain is better than a 1 pip loss.
  • #1,552
  • Jun 16, 2021 12:35am Jun 16, 2021 12:35am
Quoting aeternum
{quote} Yeah. I have never seen a weekly bar go so far down only to make a full about turn with a long wick below. Even if it is positive tomorrow, I'd expect it to continue dropping afterwards. On the daily I still see a possibility of 1824, maybe even 1800. It might be possible that it will test that daily downwards trendline that it broke a 2 weeks ago before a bigger bounce up. I just closed my sell for 8 pips. Going to wait and see if I can get another position at another resistance level.
The market seems not decide the up or down trend yet. I closed my gold buying at 1860. Just out and wait until tonight.
Good luck to you
  • #1,553
  • Jun 16, 2021 1:08am Jun 16, 2021 1:08am
Quoting YumiYummy
{quote} The market seems not decide the up or down trend yet. I closed my gold buying at 1860. Just out and wait until tonight. Good luck to you
I just got another 15 pips short. Yes nothing much going on. News is going to be crucial. Hopefully up though, would like to see it at least touch 1876 again.
A 1 pip gain is better than a 1 pip loss.
  • #1,554
  • Jun 16, 2021 1:32am Jun 16, 2021 1:32am
Good morning everyone
  • #1,555
  • Jun 16, 2021 1:33am Jun 16, 2021 1:33am
Quoting darkangel13
Good morning everyone
Good morning DA,
  • #1,556
  • Jun 16, 2021 1:34am Jun 16, 2021 1:34am
Quoting YumiYummy
{quote} The market seems not decide the up or down trend yet. I closed my gold buying at 1860. Just out and wait until tonight. Good luck to you
Still holding but with positive SL, let’s see haha
  • #1,557
  • Jun 16, 2021 1:41am Jun 16, 2021 1:41am
Gold could retrace but for how long? I will buy if the price reaches 1842 level.
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  • #1,558
  • Jun 16, 2021 1:56am Jun 16, 2021 1:56am
There is a risk for gold to fall soon..
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  • #1,559
  • Jun 16, 2021 2:21am Jun 16, 2021 2:21am
GbpAud falling down 123bearish
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  • #1,560
  • Jun 16, 2021 5:53am Jun 16, 2021 5:53am
Hi DA and all..
my signals indicate buying on wkly down to H1 but I am watching the wkly close to confirm…
if banks want to make dosh I guess they would sell gold off some…
just my 2 cents
Good trading all
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