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Managing Gold Long & SL - A Multi-Indicator Consensus IndicatorDear Valued Investors, O n the financial markets, we find ourselves immersed in the story of Gold (XAUUSD), a tale of resilience and growth. Since November 13, 2023, Gold has gracefully embraced a bullish trajectory, dancing its way from $1928 to a harmonious $2002. This surge reflects the prevailing positive sentiment within the market. O ur cherished Multi-Indicator Consensus indicator , a guiding light in the complex world of trading, has been whispering about this bullish dance for the past two weeks. However, as we embark on this journey together, let us tread with both excitement and caution. W hile the absence of a bearish signal is reassuring, prudence suggests that initiating a new long position at this juncture might be akin to stepping into the dance mid-performance. The prolonged bullish stride, unaccompanied by a recent confirmation signal, hints at the potential for a gentle retracement or a graceful consolidation period. T o navigate the delicate balance of risk in our existing gold long position, we extend our hand to the wisdom of the trail profit stop-loss order. This order, a silent guardian in the realm of trading, elegantly adjusts the stop-loss level as the market rhythm unfolds. It allows us to savor the sweet taste of profits while gracefully curtailing potential losses. F or our gold long position, consider setting the trail profit stop-loss order at a Fibonacci retracement level – perhaps the enchanting 0.382 or the harmonious 0.5 retracement level. These levels, like gentle notes in a melodic composition, often serve as supportive zones during the ebb and flow of market pullbacks. A s we waltz with Gold's positive momentum, let us also be attuned to the nuances of increased risk that accompany holding a long position without a recent bullish signal. The overarching melody is one of positivity, but the absence of a fresh confirmation note calls for a measured and deliberate approach. I n closing, while the Multi-Indicator Consensus indicator paints a portrait of optimism for Gold, the prolonged bullish journey without a recent signal and the elevated risk call for a symphony of risk management strategies. Consider the trail profit stop-loss order as a gentle partner, guiding you through the dance, protecting profits, and gracefully managing the inherent risks of the gold long position. Disclaimer: This heartfelt guidance is not to be construed as investment advice. As you waltz through the markets, remember that the rhythm of each trade is unique. We encourage you to perform your own due diligence or seek the counsel of a financial advisor before making any financial decisions. With Warm Regards, Ely
TVC:GOLDLong
by Elysian_Mind
TRADING OR A JOB? DEEP DIVE❗️ Are you torn between choosing a job and getting into trading? Both have their advantages and pitfalls, but by combining the two, you can reap the rewards of both worlds. 🚷Firstly, let's consider a traditional job. A job offers security, stability, and a predictable income. You work for a set number of hours, and you receive a paycheck. You have employer benefits such as healthcare, 401k matching, and paid time off. On the downside, you are limited to your salary, which may not always reflect your hard work and dedication. You may feel stuck in your role as there are usually limited opportunities for career advancement. And if you lose your job, you lose that source of income. 💹Now let's consider trading. Trading offers the potential for uncapped income, flexibility, and the autonomy to make your decisions. You can trade anywhere with an internet connection, and there are many different markets to choose from, such as forex, stocks, and commodities. You have complete control over your financial destiny. However, trading is not for everyone. It requires a lot of time, effort, and discipline to become successful. There are risks involved, and you can lose money if you do not know what you are doing. It can also be a lonely profession as you may be working alone most of the time. 💡Now, what if we combine the two? This is where the concept of "side hustles" comes into play. You can keep your job for the stability and security, but you can also trade on the side to increase your income and diversify your portfolio. By trading on the side, you can use the abundance of time outside of your job to learn, practice, and implement trading strategies. Gradually, you may earn enough money from trading to eventually quit your job and become a full-time trader. However, the combination of the two must be approached with caution. Trading can be time-consuming, and you do not want to sacrifice the quality of your work at your job. It is also essential to practice risk management and not invest money that you cannot afford to lose. ⚖️In conclusion, both a job and trading have their advantages and disadvantages. Combining the two is an excellent way to increase your income, diversify your portfolio, and potentially become a full-time trader. But proceeding with caution, discipline, and good money management is key to success. Remember, the goal is to build a better future for yourself, and with the right balance between a job and trading, you can achieve it. Thanks for reading bro, you are the best☺️ Like, comment and subscribe to boost your trading! Dear followers, let me know, what topic interests you for new educational posts?
BITSTAMP:BTCUSDEducation
by SignalProvider
5
🎲 Elliott Wave Pattern: Combination 🌊●● Combination ( CMB ): "Double Three" ❗❗ Rules: ● A “double three” combination comprise two corrective patterns separated by one corrective patternin the opposite direction, labeled Ⓧ . The first corrective pattern is labeled Ⓦ , the second Ⓨ . ● A "double three" combination comprises (in order) a single zigzag and a flat, a flat and a single zigzag , a flat and a flat, a single zigzag and a triangle or a flat and a triangle . ● Wave Ⓧ appears as a zigzag or flat. (TWEWA) ● Wave Ⓧ always retraces at least 90 percent of wave Ⓦ . ● Combinations have a sideways look. With respect to waves Ⓦ and Ⓨ in a double three, only one of those waves in each type of combination appears as a single zigzag . ● Combinations can occur in the same wave positions as flats and triangles (except for the triangle subwave) but cannot occur in waves Ⓦ and Ⓨ . ❗ Guidelines: ● Wave Ⓧ is often 123.6-138.2% the Ⓦ wavelength, less often wave Ⓧ retraces 161.8% or more. Don't expect wave Ⓧ to be more than 261.8% of wave Ⓦ . (TWEWA) ● Wave Ⓧ is usually a single or multiple zigzag. ● When a zigzag or flat appears too small to be the entire wave with respect to the preceding wave (or, if it is to be wave ④ , the preceding wave ② ), a combination is likely. ☝ Notes: ● An expanding triangle has yet to be observed as a component of a combination. __________________________ 🔗References: Elliott Wave Principal 2005 Trade Waves / Elliott Waves Analysis (TWEWA) 📚 Elliott Wave Guide & Ellott Wave Archive ⬇️⬇️
BITSTAMP:BTCUSDEducation
by TradeWaves-EWA
🧮 Elliott Wave Pattern. Combination: "Double Three"●● Combination ( CMB ): "Double Three" The SZ (FL) -X-T combination is the most common. ❗❗ Rules ● A "double three" combinations comprise two corrective patterns separated by one corrective pattern in the opposite direction, labeled X . (The first corrective pattern is labeled W , the second Y ) ● A "double three" flat combination comprises (in order) a zigzag and a flat, a flat and a zigzag, a flat and a flat, a zigzag and a triangle or a flat and a triangle. ● Wave X is any corrective wave. * ● Wave X always retraces at least 90 percent of wave W . ● Only one of the W or Y waves can appear as a single zigzag. ● Combinations can occur in the same wave positions as flats and triangles (except for the triangle subwave) but cannot occur in waves W , Y or Z . * most likely, except for the triangle. ❗ Guidelines ● The X wave is often 123.6% of the W wavelength. ● When a zigzag or flat appears too small to be the entire wave with respect to the preceding wave (or, if it is to be wave 4 , the preceding wave 2 ), a combination is likely. ☝ Notes ● An expanding triangle has yet to be observed as a component of a combination Elliott Wave Principal 2005
BITSTAMP:BTCUSDEducation
by TradeWaves-EWA
4
GOLD and ETHEREUM - Interesting Combination!First of all, I would like to thank @TradingView for this chart combination! XAUETH is approaching its all time low around 1.00-2.00 so we will be looking for buy setups! knowing that this one can still dive inside the zone, reach level 1.00 before going up For XAUETH to go up, there are three scenarios: 1- GOLD UP, and ETHEREUM DOWN (best case scenario) 2- GOLD UP, and ETHEREUM UP but with Gold moving up more aggressively. 3- GOLD DOWN, and ETHEREUM DOWN but with Ethereum moving down more aggressively. How to trade it? Well it depends on your trading style/plan. but here is what I am waiting for as per my trading plan: ON H4: XAUETH formed a valid channel in red so we are waiting for a new swing high to form around the upper trendline to consider it our trigger swing and buy on its break upward. The stop loss goes below the last swing low, and we always target double our stop loss size to have an edge over the market. Meanwhile, until the buy is activated, XAUETH would be overall bearish and can still test the level 1.000 before going up. that's the power of waiting for a confirmation and trigger. Good luck!
TVC:XAUETHLong
by TheSignalyst
15
Ripple and Gold - Interesting Combination!First of all, I would like to thank @TradingView for this chart combination! As you clearly see, on Daily timeframe XAUXRP is sitting around a strong rejection/resistance area (11k to 13k in red) So a bearish movement would be expected from here, knowing that this instrument can still dive in inside the red zone before going down, but it is a good area to start to look for potential reversals. For XAUXRP to go down, there are three scenarios: 1- GOLD DOWN, and RIPPLE UP (best case scenario) 2- GOLD UP, and RIPPLE UP but with Ripple moving up more aggressively. 3- GOLD DOWN, and RIPPLE DOWN but with Gold moving down more aggressively. How to trade it? Well it depends on your trading style/plan. but here is what I am waiting for as per my trading plan: ON M30: (left chart) XAUXRP is forming a trendline in gray. but it is not valid yet, so I am waiting for a third swing to form around it, to consider it valid and then sell on its break downward. The stop loss goes above the last swing high, and we always target double our stop loss size to have an edge over the market. Meanwhile, until the sell is activated, XAUXRP would be overall bullish and can still dive in inside the red zone before going down. that's the power of waiting for a confirmation and trigger. and of course, as XAUXRP approaches the lower blue support, we will be looking for buy setups.
TVC:XAUXRPShort
by TheSignalyst
28
BTC - Elliott Wave Count - End of Wave IV?After the mid-December sell off, Bitcoin has been desecrated all over the media and has pushed the price down to levels from last November. Considering where we were this time last year, this is still a great place for us to be and us Crypto Enthusiasts know that Bitcoin is here to stay, and its technology can change the world. For this reason, I think another major bull run is yet to come, which we would then label wave V of the Bitcoin cycle. So when will this corrective phase end and wave V begin? We can begin to answer this using Elliott's Wave Principle. As shown in the chart above, we bottomed out around the beginning of wave 4 of wave III which is typical according to EW theory. We also bounced back off the highest volume that we've seen since the end of 2015. So the bulls have come back with some pressure to keep the crypto boat afloat however we are not in the clear yet. According to my count, we have completed wave Y of the corrective wave IV. Now, this could be the end of the corrective phase if we can continue to push through the resistance lines and our ATH. Unless we hear a string of really positive news, I don't think we can push through the ATH without correcting for a little while longer. I have drawn out a possible triple combination corrective wave which ends back around $5500 which I think is most likely. I am so cautious when getting back into the market as corrections are the hardest patterns to predict. I only have my core portfolio of coins and I'm also making quick small trades where I see opportunity. When we have clear signs of a major bull run then I am willing to risk more. Thanks for reading everyone! please leave a comment/feedback below. Would love to know what you guys think about my wave count!
BITSTAMP:BTCUSD
by JoshThomas04
2
GBP/CHF sellI pointed this one out from the break of the high. Gchf and Echf look like they have begun downtrends. I will be looking to take gchf ultimately down to trend line, possibly further, but that depends on how it goes down.... No TP. Stop in profit or break even letting run, otherwise sell flags. I expect Echf to probably make a 23-38% retracement from this area or at least not far down-see my eurchf post. As of right now, Gchf structure screams sell to me and it is a breakout. I'm looking for GU to turn to downside this next week, just waiting for confirmation. I may have called some hellashious trades this week. I highly suggest you watch the forex market update video link in signature field to understand better what I'm looking at. I personally am most proud of my EJ and Echf trades and entries, but I don't think anyone understood what I was saying or seeing. Obviously gchf and echf can correct, I hope they do sooner than later, and I will signal second entry, but they may be down the road. I haven't even been getting to trade london or new york lately but traded New York this morning, or should I say, annihilated it. Next week I will be on every london/New York 5am to 12-1 pm eastern standard... I love patterns. Trade the breakout. Learn how to trade structure.
Short
by thillygoosth