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  • #14,721
  • Aug 4, 2023 5:41am Aug 4, 2023 5:41am
Quoting d1zzy
3. Price has been accumulating at this level for hours now its only sweeping sell side liquidity, today's high wasn't much of a liquidity grab either. The whole world is expecting XXX/USD pairs to drop, we all know what happens when majority expect price to go one way.

If the data is good I expect a huge drop from gold. What is good data: Average hourly earnings should not fall below the expectations. I think NF employment change above 200K is not bad, if above 209K then very good.
  • #14,722
  • Aug 4, 2023 5:45am Aug 4, 2023 5:45am
[quote=luckytujuh;14523855]{quote}{quote} I couldn't agree more with you. Its an interesting fact. I've blown many accounts to like you. One thing I realised that martingale method sucks. I've been dupe by many asian introducing brokers and their method Thus after 2 years of trading, i've come to realised - i needed to have risk management - i needed to have my own trading analysis - i need to aim low, not high A friend told me, if you are able to flip $10-1. It's a skill. You will be able to flip a 100k account to 101k. Also he reminded me, that it may be slow, but it will be consistent due to discipline and skill. "never say, another day another dollar. say another day another discipline" those were words of vision, not to seek 10-30% seek lower 1-3% profit, which might sound low but seems realistic to hit. Come one tell me. Would anyone wanna profit $10 on a 1k account? But on the other side, if you do it slowly. Its passive and consistent[/quote

Martingale does work well its used by banks and institutions daily so they dont close positions at a realised loss, you need to know where the furthest extension in price is, it's just scaling in, but if you use all your margin on the 1st two scalings and have no emergency capital to hand, you'll blow your account for sure. Alternatively you open a position with another asset that's moving in the opposite direction to hedge into the extended low or high on the primary asset
So when trading gold, you always know what your hedge asset will be at that time if needed quickly
  • #14,723
  • Aug 4, 2023 5:49am Aug 4, 2023 5:49am
Quoting Howdenj
Quoting luckytujuh
{quote}{quote} I couldn't agree more with you. Its an interesting fact. I've blown many accounts to like you. One thing I realised that martingale method sucks. I've been dupe by many asian introducing brokers and their method Thus after 2 years of trading, i've come to realised - i needed to have risk management - i needed to have my own trading analysis - i need to aim low, not high A friend told me, if you are able to flip $10-1. It's a skill. You will be able to flip a 100k account to 101k. Also he reminded me, that
...

Yeah, i understand your explananation. Though I am now not keen in martingale anymore. The max I'll go is 2 layers in one trade if i have confidence in the trade
Trading is very lonely
  • #14,724
  • Aug 4, 2023 5:49am Aug 4, 2023 5:49am
Quoting ForexIkeja
{quote} We are here always 24/7 .
Agree with you. Helping each other is best way to grow... Be together and grow together
| Trading Edge | RR | Psychology | Persistence | Fortune | Prosperity |
  • #14,725
  • Aug 4, 2023 5:52am Aug 4, 2023 5:52am
Quoting fontu
{quote} Back from weekll marketing and still still arounds, no bull restart yet! Any price below 1932.51 and breakout should be enough to start, better little more extension down to below 1931 though, better fakeout plan! Anyway take care {image}
Testing 1931 is alarming, still some time left for news but may ready for action, take care
If all good the 1948 plus will target today! Previos low as sl.
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #14,726
  • Aug 4, 2023 6:04am Aug 4, 2023 6:04am
~1909 would be nice.
Air force
  • #14,727
  • Aug 4, 2023 6:27am Aug 4, 2023 6:27am
Quoting W0lfram
~1909 would be nice.
Why?
  • #14,728
  • Aug 4, 2023 6:33am Aug 4, 2023 6:33am
Quoting fontu
{quote} Testing 1931 is alarming, still some time left for news but may ready for action, take care If all good the 1948 plus will target today! Previos low as sl. {image}
Depends on the data. If the number is significantly higher than expected then 1920 is surety even 1900. If it is significantly lower then 1960 will be least upward movement. Problem will only come if the data is same as the expected. That does a lot more damage then any move to the either side.
  • #14,729
  • Aug 4, 2023 6:41am Aug 4, 2023 6:41am
Quoting Eren10
{quote} If the data is good I expect a huge drop from gold. What is good data: Average hourly earnings should not fall below the expectations. I think NF employment change above 200K is not bad, if above 209K then very good.
__________ ATM = ik ben ook een kaasKop [klootzak] van Arnhem
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Don’t focus on making $$$, focus on protecting what you have.
  • #14,730
  • Aug 4, 2023 6:43am Aug 4, 2023 6:43am
Hi, could anyone please explain me how the nfp data will affect xauusd?

if it's higher than forecast, is it good for usd and gold will plunge down?

and as if the 'actual' is higher than 'forecast' - why is it good for the usd?

Just trying to learn. Thank you.
  • #14,731
  • Aug 4, 2023 6:52am Aug 4, 2023 6:52am
everyone should know by now what i think LOL

every timcframe above 4H is bearish...the only one that still isnt is the yearly LOL
here is the midyear 6M chart... price poked above the july 2020 highs highs and retreated...ill repeat it it the new modern vernacular everyone seems to be using...it grabed liquidity above the highs....also price tested the july 2011 highs and retreated yet again...how much more energy do the bulls have left?

so thats why i said only the yearly chart isnt bearish YET

now onto the NFP... we all know what a beating the forcast means but since people have pivotted to the soft landing or recession debate since inflation is decreasing even a red number after the dust from the kneejerk reaction has settled will have gold fall again since price shouldnt even be here above that h+s neckline ive been droneing about for months cause of the chinese intervention in forex market

so to me it doesnt matter what the number is cause after a few hours price may start falling...next two weeks for sure
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short trump and go long the deepstate
  • #14,732
  • Edited 7:45am Aug 4, 2023 6:55am | Edited 7:45am
Today's ADR level 1917 - 1944...
1924-1921 a possible pullback can happen from here..
T1:1938
T2:1942
Lets see what NFP has!
Edit: ADR level edited

Trade safe
Its all about Timing!!!
  • #14,733
  • Aug 4, 2023 7:07am Aug 4, 2023 7:07am
Quoting Murugesh29
Today's ADR level 1917 - 1950... 1924-1921 a possible pullback can happen from here.. T1:1938 T2:1947 Lets see what NFP has! Trade safe
you think there wont be a clean traffic tonight?
Trading is very lonely
  • #14,734
  • Aug 4, 2023 7:11am Aug 4, 2023 7:11am
Quoting luckytujuh
{quote} you think there wont be a clean traffic tonight?
Depends on the data ,NFP event.
Its all about Timing!!!
  • #14,735
  • Aug 4, 2023 7:12am Aug 4, 2023 7:12am
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Don’t focus on making $$$, focus on protecting what you have.
  • #14,736
  • Aug 4, 2023 7:12am Aug 4, 2023 7:12am
Value direction indicating a drop to monthly S1 pivot(1915.77)
  • #14,737
  • Aug 4, 2023 7:19am Aug 4, 2023 7:19am
Quoting sharingan9
Value direction indicating a drop to monthly S1 pivot(1915.77)
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The market hides a perfect geometry.
  • #14,738
  • Aug 4, 2023 7:33am Aug 4, 2023 7:33am
Employment change is lower than expected. Unemployment is 3.5 %. I donn’t know if this is bad for dollar.
  • #14,739
  • Aug 4, 2023 7:35am Aug 4, 2023 7:35am
did the report adjust the previous number or is it a glitch on FF?


doesnt matter really ill be looking to shorrt around lunchtime
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short trump and go long the deepstate
  • #14,740
  • Aug 4, 2023 7:36am Aug 4, 2023 7:36am
Quoting Zebi
did the report adjust the previous number or is it a glitch on FF? doesnt matter really ill be looking to shorrt around lunchtime {image}
revision of previous month numbers happens all the time.
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