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  • #30,821
  • Apr 11, 2024 4:40pm Apr 11, 2024 4:40pm
Quoting 0drawdown
{quote} Shorting Gold in times like this with No Stop loss is crazy lol. In 5 Minutes Gold could just randomly Sky rocket to 2400 and blow that account... and if you think "Oh if it goes up, it must come back down" I got news for you. Good luck though
except its true that everything goes up has to come down, you need to use your analysis to best estimate where pa could reverse, with such moves RR is usually 1:5 or even 1:6 so its okay if you use proper MM to fail once or twice with your predictions, if you get it on third time then its a winner overall
  • #30,822
  • Apr 11, 2024 4:53pm Apr 11, 2024 4:53pm
Quoting fxmasterdxb
{quote} except its true that everything goes up has to come down
Thats why a lot of accounts are blown every day in this bull run. You need to trade the trend; if the trend is up, you need to long; if the trend is down, you need to short. and, of course, do your own analysis to confirm the trend.

EDIT: It's true what you said but you need to confirm that its going down, not just speculate that it's going down because it needs to. That's why you need to go to bigger timeframes.
  • #30,823
  • Apr 11, 2024 5:01pm Apr 11, 2024 5:01pm
Quoting Blavity01
{quote} Thats why a lot of accounts are blown every day in this bull run, You need to trade the trend; if the trend is up, you need to long; if the trend is down, you need to short. and, of course, do your own analysis to confirm the trend.
go back to my post and focus on “MM” which means money management, if you run your account with proper MM then the chances of getting blown out are very rare, just forget about your greed and your plan of making anything above 15-18% per month and you’ll be fine if you have a winning strategy.
  • #30,824
  • Edited 5:52pm Apr 11, 2024 5:38pm | Edited 5:52pm
Quoting 0drawdown
Shorting Gold in times like this with No Stop loss is crazy lol. In 5 Minutes Gold could just randomly Sky rocket to 2400 and blow that account... and if you think "Oh if it goes up, it must come back down" I got news for you. Good luck though
I don't use stop loss because I close them manually or have my bot alert me on certain prices.

Right now there hasn't been a single 1H candle in 14 hours, and that is all I need to make money. I don't care about the "trend", I just care about making money on the pullback.

Already took profit on all my positions, because I saw the rejection wasn't fast enough. But I will still leave one running without stoploss, and add new shorts above 2420 for another pullback profit.
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  • #30,825
  • Edited 6:08pm Apr 11, 2024 5:46pm | Edited 6:08pm
The gold target according to technical analysis + time analysis will be 2521, In 2018, gold moved in an ab wave from 1157 to 2076 in 2 and a half years, then since wave bc is at 1610, wave cd must be equal to wave ab, so it will be exactly at 2521. What is strange is that the period will also be two and a half years.
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  • #30,826
  • Apr 11, 2024 6:03pm Apr 11, 2024 6:03pm
Quoting Blavity01
{quote} nvm i still have hope for 2380 or HIGHER
Target hit
  • #30,827
  • Apr 11, 2024 6:08pm Apr 11, 2024 6:08pm
short here - 2385 ish
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In tea leaves we trust!
  • #30,828
  • Apr 11, 2024 6:16pm Apr 11, 2024 6:16pm
My TP got hit and made profit of 4880
  • #30,829
  • Apr 11, 2024 6:38pm Apr 11, 2024 6:38pm
Another ATH... I thought the top would be in by now, I guess it will never be. "in". People's RSI"s must be screaming overbought.
"Who Dares Wins"
  • #30,830
  • Apr 11, 2024 6:54pm Apr 11, 2024 6:54pm
I looked at meta trader manager many trader has margin call & stopped out their account
Amid war tension..gold and crypto is pumping hard
study of behavior and mind,conscious and unconscious
  • #30,831
  • Apr 11, 2024 7:00pm Apr 11, 2024 7:00pm
This is a good video that explains why Gold has been rallying for so long and might not stop Rallying for now.
Inserted Video
X - https://x.com/macrodave_
  • #30,832
  • Apr 11, 2024 7:04pm Apr 11, 2024 7:04pm
Quoting fxmasterdxb
{quote} gold is approaching the levels where it should reverse after, while 2385 is still on the cards, i really doubt it goes beyond 2380 unless its a quick touch and reverse I have started selling @ 2373 and will keep adding until 2380
hit and run scenario still valid on 4hr tf, my line in the sand is 2394, any hourly close above will negate my bear scenario and will close my positions
  • #30,833
  • Apr 11, 2024 7:13pm Apr 11, 2024 7:13pm
This is the reason why I wait for a rejection, better to be late
  • #30,834
  • Apr 11, 2024 7:14pm Apr 11, 2024 7:14pm
I have waited enough, let me see how it goes
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we live, learn and earn for tomorrow
  • #30,835
  • Apr 11, 2024 7:29pm Apr 11, 2024 7:29pm
add to my short at 2393... that's my limit stops over highs
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In tea leaves we trust!
  • #30,836
  • Apr 11, 2024 7:41pm Apr 11, 2024 7:41pm
There is no doubt that gold prices are over extended now, and we are may be near a top, once a top is confirmed, we may nit see those levels for months to come, I am not interested to catch the top, will wait for the confirmation first.
  • #30,837
  • Edited 8:02pm Apr 11, 2024 7:52pm | Edited 8:02pm
I set short order with small lot at 2400 for long run. See how in the end. Target 2200
  • #30,838
  • Apr 11, 2024 8:07pm Apr 11, 2024 8:07pm
Quoting Elliottway
We are going to see another ATH. Am not sure. just sharing my opinion.
Am expecting to reach 2420-50. Am not sure. Sharing my opinion
SURFER
  • #30,839
  • Apr 11, 2024 8:13pm Apr 11, 2024 8:13pm
Quoting Elliottway
{quote}Am expecting to reach 2420-50. Am not sure. Sharing my opinion
Looks like 2415 for me, but I am 0.11 short and I am not sure the account can take it...

I will see how I manage, got short too early but I did not expect a 80 USD upmove ...
  • #30,840
  • Apr 11, 2024 8:41pm Apr 11, 2024 8:41pm
Quoting NrSLionHeart
{quote} Looks like 2415 for me, but I am 0.11 short and I am not sure the account can take it... I will see how I manage, got short too early but I did not expect a 80 USD upmove ...
why 2415 it can go to infinity now. lol

Quoting Elliottway
{quote}Am expecting to reach 2420-50. Am not sure. Sharing my opinion
most of the bears not being sure is actually a bearish sign. china will pay heavily for the manipulation it has done in gold markets. their property markets is a disaster and soon gaps will start opening on it
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