GOLD, Gold and XAUUSD - page 141
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Good exit at 4,600 @Satan Claws — with the dollar sliding all day, the cleanest part of that move was probably already behind it.
On the 4,500–4,520 area @Odyssey Trader marked: worth watching, though I've stopped treating zones like that as "buy zones" and just treat them as triggers in whichever direction they actually break. My system takes the break with a fixed stop and is normally flat again inside a couple of hours — across 600+ XAUUSD trades the average holding time works out at roughly 2h. That isn't an accident: on gold, most of the edge in a breakout is spent in the first hour or two. Hold past that and you're not trading the break anymore, you're trading an opinion about the trend.
What costs people money on days like today isn't picking the wrong level — it's the first push through it that immediately gets sold back. My only real filter is that a break has to hold the level on the retest before I'm interested. It kills a fair number of good-looking setups, but it kills a lot more bad ones.
Good week to be trading gold breaks either way.
forecast
I went short at the highs, but wasn’t able to make a profit from it. I had five attempts, but none of them were successful. However, if I’d gone short from the outset and set my stop-loss higher, above the key resistance level of 4,700, it wouldn’t have been triggered and I’d have made a nice profit of 10,000 pips (if I’d held on to the position).
The picture regarding gold is starting to become clearer.
I went short at the highs, but couldn’t make any profit from it. I had five attempts, but none of them were successful. However, if I’d gone short from the outset and set my stop-loss higher, above the key resistance level of 4,700, it wouldn’t have been triggered and I would have made a tidy profit of 10,000 pips (if I’d held on to the position).
until the bottom). But I would have had to be on my toes whilst holding the short position, as the pullbacks were severe.
The picture regarding gold is starting to become clearer.
I went short at the highs, but wasn’t able to make a profit from it. I had five attempts, but none of them were successful. However, if I’d gone short from the outset and set my stop-loss higher, above the key resistance level of 4,700, it wouldn’t have been triggered and I’d have made a tidy profit of 10,000 pips (if I’d held on to the position).
until the bottom). But I would have had to be on my toes whilst holding that short position, as the pullbacks were severe.
You just need to hold the initial long position :-) but blimey, the leverage’s a pain.
By the way, I didn’t spot a single short entry at the highs. The attached charts don’t really illustrate the point – it’s exactly the opposite there
You just need to hold onto the original LONG position :-) but bloody hell, the leverage’s a right pain.
By the way, I haven’t spotted a single short entry at the highs. The attached charts don’t really illustrate the point – it’s exactly the opposite there
red – short
blue – long
red — shorts
blue — long
Dawn at a posh seaside hotel. I wake up, have a coffee, settle into a comfortable armchair, open the newspaper and start my working day.
In half an hour, I’ll need to go over to the computer and press a couple of keys. That’s all that’ll be required of me. I’ve already earned my daily $1,000. A day of relaxation, happiness and wild fun lies ahead.
How greed led to losses
They’ve stolen the profits!