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  • #86,401
  • Aug 5, 2025 1:53am Aug 5, 2025 1:53am
Quoting thedaytrader
{quote} SL moved to break even...
lucky u.
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #86,402
  • Aug 5, 2025 1:57am Aug 5, 2025 1:57am
Quoting GhosTraderGT
{quote} This is beginning to look more like a break and retest scenario on the H4 .... likely leading to the direction of the major Breakout on the HTF?? Till then. Keeping a close eye. ** +strong confluence. (trendline +Prv. resistance +Fib .618. retracement level) {image} {image} {image}
Targets 3353, 3345 looks most likely then 3334 not sure for today maybe could because of the news .

Edited.
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #86,403
  • Aug 5, 2025 2:01am Aug 5, 2025 2:01am
Was holding from yesterday and added 2 today hoping for 3439. Closed all. Have to move with the price.
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BUY HIGH SELL LOW
  • #86,404
  • Aug 5, 2025 2:03am Aug 5, 2025 2:03am
anyone at 60??
  • #86,405
  • Aug 5, 2025 2:06am Aug 5, 2025 2:06am
Quoting thedaytrader
{quote} SL moved to break even...
It survived the first 5 min of london open :-)
Will trail lower of the last two fractal (on a 1-min chart) with a TP of 8 points...
Trade Like a Casino, Not a Gambler
  • #86,406
  • Aug 5, 2025 2:07am Aug 5, 2025 2:07am
Quoting GhosTraderGT
{quote} lucky u.
Trade Like a Casino, Not a Gambler
  • #86,407
  • Aug 5, 2025 2:18am Aug 5, 2025 2:18am
Quoting thedaytrader
{quote} It survived the first 5 min of london open :-) Will trail lower of the last two fractal (on a 1-min chart) with a TP of 8 points...
Trailing SL at +2.6 points...
Trade Like a Casino, Not a Gambler
  • #86,408
  • Aug 5, 2025 2:23am Aug 5, 2025 2:23am
go london go
  • #86,409
  • Aug 5, 2025 2:23am Aug 5, 2025 2:23am
good morning everyone!
My bias is the same as yesterday: Long, with DXY overall weakness: Of course data dependent on PMI later today..

It's important for me to have strict timings when I trade, meaning I do not enter any trades until at least just before NY overlap, this means I avoid overtrading, greed, early entries, and range bound market, this helps me to protect my profits and capital. Any move I miss outside these timeframes, oh well, my loss!

Because I learned any big losses I have had is always when I enter market too early, low volume

I started the morning with the economy news and make a 3 confluence rule based decision to decide if I am bullish or bearish on DXY, which in turn leads me to my long bias on gold

I am still targeting 3394. - again, DATA dependent

So, patience is key for me, and its true when they say you make the most money when you sit on your hands and wait for the perfect setup!!

Goodluck and Happy Tuesday everyone!

In terms of technical, I will wait for very obvious bullish momentum around 3380 or 3377 and enter there. I just note now that price closed at 3365 yesterday and we have rejected it again over last few hrs, another indication for my bullish bias.
  • #86,410
  • Aug 5, 2025 2:25am Aug 5, 2025 2:25am
Quoting alinone07
Was holding from yesterday and added 2 today hoping for 3439. Closed all. Have to move with the price. {image}
what happen with your sell's,did you close them on profit or on BE,between 65-70 was a good area to add buy layer's,that's my opinion,it's your money so you can do what ever you want with them,but the chance to go to 80-85 is still valid for now
  • #86,411
  • Aug 5, 2025 2:26am Aug 5, 2025 2:26am
bullish flag.
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SURFER
  • #86,412
  • Aug 5, 2025 2:27am Aug 5, 2025 2:27am
Quoting thedaytrader
{quote} Trailing SL at +2.6 points...
Booked profit of 8 points and out... will wait for the next :-)
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Trade Like a Casino, Not a Gambler
  • #86,413
  • Aug 5, 2025 2:29am Aug 5, 2025 2:29am
Quoting Dragomir6
{quote} what happen with your sell's,did you close them on profit or on BE,between 65-70 was a good area to add buy layer's,that's my opinion,it's your money so you can do what ever you want with them,but the chance to go to 80-85 is still valid for now
Holding shorts. lets see
BUY HIGH SELL LOW
  • #86,414
  • Aug 5, 2025 2:29am Aug 5, 2025 2:29am
Quoting dartboardio
good morning everyone! My bias is the same as yesterday: Long, with DXY overall weakness: Of course data dependent on PMI later today.. It's important for me to have strict timings when I trade, meaning I do not enter any trades until at least just before NY overlap, this means I avoid overtrading, greed, early entries, and range bound market, this helps me to protect my profits and capital. Any move I miss outside these timeframes, oh well, my loss! Because I learned any big losses I have had is always when I enter market too early,...
I am also in a long targeting 3394-3397
  • #86,415
  • Aug 5, 2025 2:30am Aug 5, 2025 2:30am
Guys I one mailed the Financial Analyst from Reuters Mr. Wang Tao asking for his methods. Just sharing the knowledge if anyone finds it useful.

His Tools:

  1. Elliott Wave Principle for market behavior analysis.
  2. Fibonacci (retracement and projection) for key price levels.
  3. He mainly uses the hourly chart for his analysis.

Books He Recommended:

  1. Elliott Wave Principle: Key to Market Behavior by John Frost and Robert Prechter
  2. Elliott Wave Explained by Robert Beckman (hard to find, but search for a digital copy)

BUY HIGH SELL LOW
  • #86,416
  • Aug 5, 2025 2:32am Aug 5, 2025 2:32am
Quoting dartboardio
good morning everyone! My bias is the same as yesterday: Long, with DXY overall weakness: Of course data dependent on PMI later today.. It's important for me to have strict timings when I trade, meaning I do not enter any trades until at least just before NY overlap, this means I avoid overtrading, greed, early entries, and range bound market, this helps me to protect my profits and capital. Any move I miss outside these timeframes, oh well, my loss! Because I learned any big losses I have had is always when I enter market too early,...
Hi, are you from dubai.. great!!

i am living in clock tower near DCC. lets meet like a (traders) friends gathering.. i never ever seen such a organized women so far..
SURFER
  • #86,417
  • Aug 5, 2025 2:32am Aug 5, 2025 2:32am
Quoting alinone07
{image}
good luck
  • #86,418
  • Aug 5, 2025 2:35am Aug 5, 2025 2:35am
Quoting Elliottway
{quote} Hi, are you from dubai.. great!! i am living in clock tower near DCC. lets meet like a (traders) friends gathering.. i never ever seen such a organized women so far..
i am from ireland, living here in Dubai yes! would be great to get a little gathering sometime!
  • #86,419
  • Aug 5, 2025 2:40am Aug 5, 2025 2:40am
Gold is forming higher high and higher low on 1hr chart. Lets see it will break it or not
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Patience
  • #86,420
  • Aug 5, 2025 2:41am Aug 5, 2025 2:41am
Quoting Elliottway
{quote} Hi, are you from dubai.. great!! i am living in clock tower near DCC. lets meet like a (traders) friends gathering.. i never ever seen such a organized women so far..
lets go. booking the flight now. when is this..?
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gerryjam