Gold with No Drama

What's your theory for those two level ?

Thank god,some one atlast asked. i was llike are my charts of any help to anyone here.

These are measured moves divided in four equal quarters. it is called as Clone levels. different ways to draw them , you can use swing high low,all time high low, daily high low........

But I'm of the view that market is on a down trend and any higher level is just an opportunity to pick a sell at a good price

for me i am looking it as ranging market for last few days and 4307 is good support zone, once thats taken out i go with the flow to target next level.

range in box

Usually when a high is tested gold drops like mad, we broke that range yesterday, I'll be looking out for a sell.

true...

hi ,how is it going, i guess your day just started.

https://www.forexfactory.com/thread/...t-for-sleeping

It seems that TL was broken down.

We have new red FVG. A nice target I guess.

Possible move for today.

good morning its the sixth trading day and gold still ranging in between ath and fibo21 level. But on daily there is a red hammer anymore

Hello Guys,

Muhammad here:


Special Friday:

Thursday high was fast and loose one,
nice one,
i just hope we will revisit 60-70 again.
so next week we will have something to work with.
as always i am still on sell i need Solid 4400+ daily close. to know i am done with gold.
Becaue after 4405 unlike Most of you i cannot buy, its too high for my blood even some of other firms's traders i walked about .
they looks like we will leave GOLD after it will close above 4400.
.
and i as i said before also we always stick together.
so that means IF 4405 closed above on daily chart.
or weekly in this matter it will be because its friday.
and also markei will be very thing.
so today si last trading day specially considering thursdays 4335 to 75 and last high was also 75.
was a goreat move to get buyers before they dumped.
lately it seems like GOLD is doing that a lot.
and now when next week we have cristmas, and then new year.
.
honestly i am still not sure today is good day to trade, but that's just us.
patient, calm,
emotionless ( well emotionless is not possible, because without emotions we will be robots, even animals have emotions,)
so i will say the next best thing
channel our emotions, direct towards something else.
for eg: take a 10 days off and enjoy the life,
because on my experience in this market,
it is crazy market, it keeps you hooked, and even on weekend most traders are doing research or thinking about trading.
and trust me, it took me 2 years of reading phycology books, to understand that,
there is life other then just trading.
.
take it from me guys,
who have spent more time infront of screen then you guys ever could,
is here anyone who can say they slept 4 hours and 20 hours in front of screen for almost 7 years,
3 years was just to Understand, Learn, Practice,
then next 4 years just trading 20 hours a day trading it was not greed to be honest, i was the passion,
but once i got to the level, where i have made enough to Invest,
.
Trading, Forex, Futures, options, Crypto is not INVESTING,
.
investing is where your money works for you,
in trading we are working for money trading whole day that is in reality working for money, no matter how much we convince our self that we are making money,
the facts don't change just because we don't accept it, or specifically our mind.
.
even best traders found out that only trading your own money will never get to millions,
because Compounding is disrupted always,
we have to withdraw, monthly expenses,
maybe emergencies,
.
the First rule which most traders are reluctant to do is
what ever you invest if it is 50k or 500$ i dont care,
we were told always no matter what always take your initial investment out.
its not what you may think,
its the phycology,
when you have your investment back, you can invest somewhere else,
dont do the mistake of opening second forex account, many i know have done that mistake,
because then again the phycology comes into play,
you mind will always remind you that you have money even 100$ left from 10k investment can cause emotions in your trades,
that is i was told before i got my phycology vertificate,
.
making money is much more then trading: its lets just say 50% phycology and 50% trading.
some phycologist i interviewed even went higher then 60% also.
.
so you took your investment back from your trading account.
most dont do that because what they see is profits, before it was 20% or 3k% is making them 2k per month now it will be 4k double profits and every thing remains same.
just when your account grow 20 you increase the lot 20% and and once you get to 100% it is very hard to take it out,
specially if you have steady job, because you think now i can grow my account 2 times faster,
but phycologists even nobel prize winner suggest that,
it is like constant pain for your brain,
trust me because i have been there only withdrew when i made 3k into 36K.
and that was with OANDA US broker with strict rules no hedging FIFO (first in First Out) rule.
for eg you sell gold at 4300 small lot, then again at 4350.
now price is 4320 you should close 4350 and let let the other run that is waht most traders do,
but FIFO means i cannot close 4350, i opened the first trade at 4300 when i wil clokc 4350 first the old trade will get closed then the new, it is time stamped.
no hedging was alllowed.
and 30:1 leverage i had i only used 3-5: 1
with 3k i was trading with 10k
in oanda fx trade you have to write the money,
you now select 0.05 i had to write 5,000 or better yet 5500.
so every trade shows exactly how much trade is worth not the pips.
.
now a days i saw many many traders trade with 0.05 and think its just half a dollar per pip trade.
and its 500$ account.
that is 10 times more money then you have.
leverage is not a bad thing trust me, but using very high leverage.
some came to me with 1k and trading 0.1 10k trade and had 3 open trades that is 30:1 leverage used.
but they had 100:1 some had 500:1 Leverage account so they see 50$ loss it just 50 pips.
but what they dont see is that is 10% running loss.
if you have Drawdown of 10% with 1 trade and 2 trades is 20%.
for 99% real investors with millions or atleast 100k or 200k to spare to invest in forex.
must have million$ to spare 20% to invest in risky market like forex and specially crypto.
so i have investors which actually said i only need 5%.
after that stop trading.
.
what you dont understand the mindset of investor is they think long term delayed gratification they call it.
and as a traders we chase quick profits.
.
rule no 2:
i was in
that in top 5: the worst thing a trader can do is put in Target.

i want to make 1% daily 10% monthly.

phycology says then you are not trading your strategy you are chasing the target,

and that is when things complicated one loosing trade set you back 1% or 2% now you have 12% to get to 10% target.

Over trading is the first thing that starts.

and time is running out some days are not even good enough to have good trades specially when you are trading just one pair,
for eg: GOLD.

then you create a trade see things which are not there,
chart is the biggest illusion in my opinion.
trust me,
if you want to buy you will find a pattern or something to buy.
if you want to sell you also same.

that is the reason charting becomes very tricky for me, it is actually fun to watch the charts sometimes,
i can take same and make the opposite,
you see 6 and some 9, it just how you see it,

even before you trade.
your mind is already set. BUY or SELL.
you read few articles and news what ever, and you made your mindset about a pair i will buy GOLD.
you don't realize it until you see the chart and you will see a buy.
at the same time if you tried you will find many many traders see sell.
that is why its happening from more then 2 decades,
because sellers will see a sell buyers will see a buy.
.
i sometimes do think what if i wrote a book?
.
then maybe some will pay attention.
because
again phycology: i says human brain doesn't process free knowledge as important or even can remember it for short term of time.
.

but if you have paid subscription of Tradingeconomics.com which is 399$ a month,
trust me you will pay attention you will remember what ever you read.
its not just you its all of us actually Most of us. but it takes a lot of practice, a lot of small changes you make because human brain resist big changes so you do it in steps.
i have done it, took me longer then you may think.

.

lets see an example:
school charges fees because they know then if kid is not paying attention the parents are paying the money,

they are investing in their kid's future, so they will make you, actually most of the time they made you do home work, even tuitions to help you to get good grades,
because its human nature when they invest, the your subconscious Mind keeps reminding them, money which they worked for it.

you paid for movie ticket even if it is bad you will watch it,
if it was free tickets or gift from someone if you got bored you will leave.
its not you, its your subconscious mind
if you pay for Netflix what ever Ott, you will find a time to watch it trust me, because your subconscious mind will remind you that you have invested money paid for it.
i bought few guys the packages for free and then saw the watch time and asked them even some saw some even forgot because i paid for it.

i did many kind of experiments just to see that what i learned and read was true.
.
so many things i am on a plane so i have 3 hours so i thought lasts pay the knowledge forward.
i hope some will maybe few will read and try to understand.
.
Mistakes can be very costly in this market.
i just don't like traders loosing and loosing and not learning anything.
.

"" Books may be the most valuable treasure of knowledge, but it is the human mind, that turns that knowledge into wisdom""

Today i am planning to try last time long bias around 4 hour later around 4305-4295
sl will be 4280
target will be 4380

Good morning everyone. Friday is mostly recovery day so keep in mind. Yesterday move was just liquidated day and now it's showing selling pressure and imo gold needs to break 4300 area properly and if break then it can go deep down. I am hoping for 4250-30 area. All depends on clear and proper break below 4300.

I am away from system bcz of traveling and hope it will work for everyone. Happy trading day to all of you

thats why i tried to tell for both side choppy and below daily cart there is no rule yet for me. just lets see if daily wouldbe over 4289 or below it

I am seeing the same movement as yesterday so not surprise 4331 hit again...
I have not clear short term bias and long without taken yesterday low, weekly aiming ATH view doesn't change my perspective.
The high is a Ny breakout tested more times than not in the following days, so be bearish is rushing things, they don't need to go there but the probabilities of doing that is very high also..