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GOLD-TRADE

Gold Trade Review: October 5, 2022What a wild ride today. Price broke the low of resistance which would be my sell entry, right as i finished doing my morning analysis. This threw me off because I wanted to enter but I knew I missed the chance and had to wait. But I unfortunately did not wait enough, I sold at support and price retraced, hitting my SL. Keeping the same bias, I waited for a new resistance on 30m to form which occurred at 9:30am est. I then used the LTF to enter a sell once price gave me further bearish confirmation, and set 1:3 RR. News was good for USD which caused price to drop on Gold and hit my TP quite fast. LESSON FOR THE DAY: Do not fall into the temptations of FOMO; you will pay the price. Instead just wait. Be patient. Once the pattern forms that I want, then I can enter the trade. I am not missing out if I enter based on FOMO and emotions. The goal is to follow the trading plan, not to make X amount of money in any given trade.
FX:XAUUSDShort
by SoManyDistractions
Gold Setup Idea: Pre New York (Oct 4, 2022)Please note that these long and short positions are not at all strategically positioned; instead I simply am showing a general idea of what price could do, so please set your own SL and TP. But the fact is price has been extremely bullish since last week when the weekly candle respected a supply zone. Price is now retracing which shows us the bullish daily candles, and today may be another bullish day. I could envision price forming support pre-ny on 30M timeframe around $1700 level for another retest of london high, and then potentially further. But if price returns bearish on 1H and close below $1700, and then continues below $1695, sells could be very good too. Let us see what NY has in store for us. Also, News at 8am to remember.
FX:XAUUSD
by SoManyDistractions
Gold Trade Review: October 3, 2022My initial bias was to buy if price broke above $1669 but upon watching price action in pre-NY, a nice support was formed which allowed me to keep a small SL so instead of a 1:2 or 1:3 trade, I could achieve a 1:4. That means this trade doesnt have to work too often to be profitable, and with the NY volume and Comex open, I expected price to either break up/down with decent momentum since there has been a lot of recent consolidation, like in pre-london/London session. Entered the trade using partials at 6am, and then entered 2nd position as price retraced. I closed 50% of 1 position as the liquidity grab broke previous candle lows, but re entered once I saw the comex volume continue bullish. Hit TP for a 1:4 RR trade, great start to the week and month. Always grateful. Stay curious!
FX:XAUUSDLong
by SoManyDistractions
Gold Trade Review: September 27, 2022I anticipated price to retest and break through the pre-ny high. Or if it couldn't, then price should return bearish on LTF as it is currently in a HTF downtrend - I saw the second scenario occur. Price failed to retest pre-ny high, and instead formed a resistance on the 30M (red circle). Then price closed below the London support, giving me a short bias. Once price made a LTF resistance (15m), and then continued breaking the lows, that was a confirmation for 1:3 RR entry. I secured partials due to some support that may interfere with this move, and moved SL to b/e. Did anyone else catch this move??
OANDA:XAUUSDShort
by SoManyDistractions
Study Sunday: Why I took this Gold Trade (1H/15m)I usually just review my trades privately but today I figured why not share if it helps someone else, or maybe someone has input that can help me too. The video is basically me reviewing a trade i took this week on gold (sept 22), and why i took it. I like to draw the candles out myself to consciously think about where price moves relative to the candles around it, then when i watch the charts I have a more intuitive feeling of how candles form and move and I know what I am looking for. I dunno if that makes sense or it is just a thing i do lol But here is another thought i have been thinking about recently regarding trading: I think that when you are trying to learn to be a profitable trader, it is valuable to keep your plan as simple as possible. And then build on it, and reshape it as you learn. But build slowly as you learn new lessons so you have a strong foundation. I see so many people that are in a rush, and that will only make you feel overwhelmed and eventually fail. I think it is especially difficult with trading because there is so much information out there and lots of people apply different strategies and have different opinions. It can be attractive to jump from one strategy to another if you feel like what you are trying is not working. And of course there are times when you must drop an idea to test another. But you should be doing so objectively and not emotionally. You should be able to measure the changes empirically as you make them. So that in the long run you build a trading plan that makes sense to you; that is the only way you will truly have confidence with trading. And you need confidence to grow an account because you will be risking a lot more with your future trades.
OANDA:XAUUSDLong
by SoManyDistractions
CAD scalp update, price action going as expectedAs part of a series of short videos, this is just an update explaining where we are in terms of seeking to scalp the bearish landscape for the day ahead. It also talks about the gold trade that we got triggered into as the US dollar bulls take profits and pack up for the day ahead of Frankfurt later on. we want to see dollar supported, or otherwise, it all goes to sh1t really! at least for the time being. buckle up for the Jackson Hole, 10 am et Friday.
Short
by Ross-J-Burland
Real gold is not afraid of the melting pot! Gold Weekly :)Hello fellow gold traders! ive been busy (not to say lazy) lately and did not publish, im gonna go abit hyperactive and make up for my absence ;) lets start where it should start and take a look at weekly, as you can see price hit the ATH of 2070 which was for a long time out of reach. and as expected, the volume on that candle equals the sum of all the volumes that came before, signalling a more than probable fall. things cant always go up , right ? ;) Now we take a look at that falling side in more details to have a chance of seeing where it might go.... first falling algo, as you can see, correted to its 0.618 fib at around 1999 and then went staright to the first algo target at 1849 and then to the second at 1786. too perfect right ? next algo could not correct for more than fib level 0.45 as the hope for any new ath disappeared and was replaced by the fear. and then went down to first target 1739 but abit short of second target at 1666( fib level -0.618) the move stopped suddenly at only 55%, which is a well known historic support since APril 2020.we will see this level in more details later on.(yeah , lets make this idea 100 page long! XD ) third move was more classic, going to golden zone 0.618-0.65 fib level at 1800-1807 and then head diving, reviving the hope for bears now having targets at 1636 and 1568 (fib levels -0.236 and -0.618) but we have the historic level of support at 1680 blocking the bears target. this level has been tested 4 times, which lets us wonder what will happen in 5th try.... adding some fork might be of some help in this golden mess ;) well, downward as we imagined, and under the median, which suggests going for the next parallel probably. and that second target at -0.618 fib seems to have structural influence too as you can see: this area has been an important zone in past price reactions too if you move back in chart all that together, the probability of moving for the unbelievable , out of reach flashy target at 1555 ...ish increases alot! which could complete a nice ABC (Bear with me XD im new to EW! :P ) adding the weekly rising fib from 1046 to 2070 adds the confluence of fib level 0.45 , which is a common failure to reach the desired 0.5 level, in this zone too. we have enough confluence at that zone to be able to consider it as a probable target while still keeping an eye on that 1680 lulti wick zone. And keeping in mind that its gold, as capricious as any other golden creature we know ;) Wishing you all the best of the best in everything.....and in trading! Onviously not a financial advice, do i look like your banker ? XD Have a great sunday....and always pass a wink to your left ;)
FXOPEN:XAUUSDShort
by BijouBaby
14
XAUUSD - Gold Next Possible MoveXAU / USD ( Gold / U.S Dollar ) Technical Analysis Chart Update Time Frame - H2 According to the Pattern in #LTF - Long Time Frame H-2 it is following #Rising Wedge In Short Time Frame #STF in M-45 it is following #Bearish Channel and completed its retest But according to Level it can Follow Buy Trend from here if it breaks this level then we will enter in #Sell and if it #Rejects then we will enter in #Buy #RSI is in favour of Short Sell Long Term Buy
TVC:GOLD
by ForexDetective
Gold 1 hour : if high break , gold will go up to 1870 so put buystop on yesterday high is good idea (low size sl= 1850) Alert= break 1870 big trendline is 2nd powerful buy signal , gold can go to 1940 red trendline even 2000 again !!!!! i pick buy in low 1832 and move SL to open price now , i want wait 4-5 day to 1940 (fibo 61% there) note = Gray arrow on chart = old orders on pervios analyse IF YOU HAVE SELL , 100% PUT SL ON HIGH 1850 , on gold break high mean 90% new + up trend will start
FX:XAUUSDLong
by ramin_trader2006
1