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  • #33,941
  • Jun 7, 2024 5:14am Jun 7, 2024 5:14am
Usually RSI corrects before big news, have placed my buy order. patiently waiting for it's execution, trade safe
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we live, learn and earn for tomorrow
  • #33,942
  • Jun 7, 2024 5:17am Jun 7, 2024 5:17am
Quoting Hulkisbck
gold - 4hrs {image}
gold - 4hrs...

previous two NFP at same point ... which means if this time NFP came , strong chance it will break down more...

april nfp = range 2280 to 2305
may nfp = range 2277 to 2320
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  • #33,943
  • Jun 7, 2024 5:20am Jun 7, 2024 5:20am
The plan this morning, Aussie time that is.

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What happened, currently at 175% of ADR(10), don't think it was a USD move, watch for bounce on NFP.

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Demo shown but similar on live account.
MAY THE TREND BE WITH YOU
  • #33,944
  • Jun 7, 2024 5:26am Jun 7, 2024 5:26am
Gold takes a dip on headline that China halts reserves...FYI
  • #33,945
  • Jun 7, 2024 5:27am Jun 7, 2024 5:27am
Quoting Techknow
{quote} Not months. Price needs to fill 2413 area before it can make its final move down, I have 0 interest in shorts, I have 0 interest in bears. I will only be looking long for 2413 that is all. Maybe days, weeks, not months. I dont see how the monthly formation can hold months on the long side. It needs to touch 2413 before too long. Obviously anything can happen. But i think we can all agree I dont post in here very much but when I do post on gold it happens. Cheers
Nice to see your name back here!! I hope all is well!
  • #33,946
  • Jun 7, 2024 5:28am Jun 7, 2024 5:28am
Hello Guys,
its time to trade GOLD,
at least for me
Buying gold at 2335

and will another trade at 2320 Limit order
target for 1st trade bought at 2335 will be 2355-60
second Trade 2320 limit if GOT hit 2340-45
stop is Below 2290
its friday it can be Volatile,
ISD index didn't even move 10 points whole day and GOLD is down 40$
that's Position adjustment and Profit taking risk assessment, from Big boys,
because of Friday and NFP is always Tricky and most of the time crazy moves.
just my 2 cents.
Don't compare your Trades with Others
  • #33,947
  • Jun 7, 2024 5:32am Jun 7, 2024 5:32am
Quoting Xces
{quote} I agree with your first part, but when you say (worst case) waiting for 2330 to buy with target of 2350 then that is 0.5R right? (40 loss vs 20 profit) Best case, buying at 2320 and aiming for 2360 is still low R trade if you ask me; but i do agree that for trading gold you have to use large(r) stops especially in these type of weeks.
i total agree with you but we are Long term traders,
we hold for days to get to our target,
we are putting buy limit for 2320 because NFP is always Volatile it may DIP so we split or trades in 2 parts,
its money management,
what it GOLD didnt drop to 2320,
then at least we have half trade running for 2350-60
in long term we focus on GOLD Demand and Supply,
Don't compare your Trades with Others
  • #33,948
  • Jun 7, 2024 5:33am Jun 7, 2024 5:33am
Still holding my positions
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  • #33,949
  • Jun 7, 2024 5:34am Jun 7, 2024 5:34am
Another cracker might come soon waiting for that
  • #33,950
  • Jun 7, 2024 5:36am Jun 7, 2024 5:36am
Quoting DubaiFX
{quote} today is friday and you think 2-3$ stop loss in long term "short term trading results are always random" look at big picture if you want to make real money, no offense but i am waiting for 2330 and 2320 to start buying and stop loss will be below 2290 targets will get 2350-60 that is how gold is traded. please dont mind but your stop loss took 2 min to hit that is scalping not trading, i hope it helps. good luck
thank you for your ideas and it will difinately helps me , I still not capable of choosing wide stop as you do , it conflict with my nature and trading style , until i develop skill set for your kind of trading (which im trying to do ) my goal is to refine my setup for these entry and i know couple of good trade will put me back in the green
I'm trying to find my bug and problems, and i post them here so senpai like you let me know my flaws.
Thank you again to share your idea about my trades.
  • #33,951
  • Jun 7, 2024 5:44am Jun 7, 2024 5:44am
Quoting nave02051986
Still holding my positions {image}
clean catch mate i left earlier it seemed too good to be true
ryoiki tenkai : Blue Juggernaut
  • #33,952
  • Jun 7, 2024 5:48am Jun 7, 2024 5:48am
Fundamentally the NFP won’t favor DXY in my POV , but it doesn’t mean that gold is safe but that’s technically tho.

DYOR i could be completely wrong

What to expect from the NFP

first 30 minutes i will speck for a gold pump

But the big move is the sell continuation

Unless there is a serious bullish market structure shift on 1h or 4h

DXY is at some good sellside liquidity, discount zone or buy OB depending on the TF you view it with.
ryoiki tenkai : Blue Juggernaut
  • #33,953
  • Jun 7, 2024 6:20am Jun 7, 2024 6:20am
If NFP comes in lower, it's going to look even more bearish for the dollar, This could cause more demand to the bullish side on Gold
  • #33,954
  • Jun 7, 2024 6:28am Jun 7, 2024 6:28am
Quoting DubaiFX
{quote} today is friday and you think 2-3$ stop loss in long term "short term trading results are always random" look at big picture if you want to make real money, no offense but i am waiting for 2330 and 2320 to start buying and stop loss will be below 2290 targets will get 2350-60 that is how gold is traded. please dont mind but your stop loss took 2 min to hit that is scalping not trading, i hope it helps. good luck
That is one hell of a stop loss!!!
  • #33,955
  • Jun 7, 2024 6:35am Jun 7, 2024 6:35am
Quoting nave02051986
Still holding my positions {image}
Very good, but If I were you I will start thinking of taking profit.
  • #33,956
  • Jun 7, 2024 6:35am Jun 7, 2024 6:35am
Guys, stoploss should be at least something like ATR(200) on 4H, which is atm $13.31.
  • #33,957
  • Jun 7, 2024 6:49am Jun 7, 2024 6:49am
Waiting to see if it prints a lower low and if not may be retracement soon
  • #33,958
  • Jun 7, 2024 6:55am Jun 7, 2024 6:55am
Quoting Bakker
{quote} Very good, but If I were you I will start thinking of taking profit.
Just to proof my case:
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  • #33,959
  • Jun 7, 2024 6:58am Jun 7, 2024 6:58am
Allocation before NFP
Source Stooq.com
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  • #33,960
  • Jun 7, 2024 6:59am Jun 7, 2024 6:59am
Quoting Mak0001
{quote} Nice to see your name back here!! I hope all is well!
Thanks buddy, busy times and had to change up projects etc.
Be around as much as i can
TechKnow
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