Checking back in on GOLD today. Nice to see we are over 500+ pips in profit on the trade still. Price seems to of rejected the 1900 price a couple of times. Im going to continue to hold for now. Ive got my SL set to bank 250 pips in profit so if it does turn then its no problem for me. Hope you all caught this on as there was a second chance for entry. GLIYF
Gold Buy Op's
- Thread starter Lee-Bax
- Start date
Looking back on the GOLD stuff today. Happy to report price is moving in the desired direction as planned. Last post we were over 500 pips in profit. We have since peaked at 1300+ pips in profit, currently sat at 900 ish . But the pattern looks to be a lovely break and re test of that big wedge so it looks like we could see full TP projection hit. Nice easy and rewarding one for us this trade. There was a few times you could enter on that entry zone so hopefully alot of you caught it. Good start to the year so far. GLIYF
Its been a while since i looked at GOLD . I was stopped out in profit on the last position i took but havent looked back at it since. There's a couple of idea's that i would like to take, one is near the current support zone we're almost at. If it finds support around there then i would be taking the buy, if it breaks i would look to the next zone where it totally reversed last time it visited. Naturally if these zones break then it could be a strong bearish trend and then i would look for the sell as shown on the chart. Remember dont just blindly enter .wait for the signs of support or resistance forming. GLIYF
Last time i looked at gold i put out the trading ideas i was looking for. Well the 2nd idea came to fruition. Price hit that bottom support zone and rejected off nicely. So if you was following then you would of entered as expected. currently we are 563 pips in profit. But we are currently in an area of interest where price could possibly fall back. We have the longer term EMa's above price and we have just hit that secondary trend line . If we break above then keep holding. Make sure to move SL into profit to secure some pips. Lets keep watching for now. GLIYF
Been a couple of weeks since we have looked at GOLD . Price still continues to drop in bearish price action with lower highs and lower lows on the daily TF. I think price might come down to this monthly demand zone with trend line and possible reverse from there. Remember always wait for price action to confirm support has been formed as we could drop through to the zone below. There is the small daily demand zone just below but it broke the previous demand so it could signal a move lower. Wait for now, better to get the best entry we can. GLIYF
Last time on Gold we had just created the small supply zone , which proved to be quite a collective area for sells, as price has pushed down strongly since. You could of actually sold from there and made some good profits but that wasn't on my radar. We currently find price sitting in the monthly demand zone . I'm looking for price to accumulate here and possible buy off the trend line for a push back up to the big down trend line above. The back up scenario is if price was to push through for more continuation to the downside. Wait for the break and retest on that setup. GLIYF
Good morning all. The new week has begun, GOLD has reached my favored area of interest for a buy. We can get a fairly tight top loss here on this setup. Price is currently in a monthly demand zone and we have also met the trend line for a multiple confluence entry on this position. As always only use 1% max risk on any position. Because price could quite easily drop further below and confirm a longer bearish movement for which my bias would change to a sell. Fairly easy trade this one with 1:6 R:R. GLIYF
Good morning all, Just a quick update today on the Gold buy we took on Monday. We are currently sitting in just over 480 pips in profit on this trade. But we need to keep watch for price action when it comes to the downwards trend line . There's a possibility that price could make a lower high and continue in the bearish trend . That's the vital part for this trade, if we don't break through then we take profit, if we manage to break through then we can continue to hold until we meet supply. GLIYF
Good afternoon all. Little update on the Gold trade I took. Currently 340+ pips in profit on this setup. The trade is currently set to risk free so we cant lose anything on this now. I've included the other time frames so you can see another reason that backed up my buy option, we broke above the previous supply area and price came back down to demand and the trend line . Lovely setup in my books. Would be great if we could visit the supply zone above. Keep holding for now, will update again when we get some good directional movement . GLIYF
