trading gold

[Ethilaloth]

I think that gold will now become an optimal asset for trading and therefore earning, because given the position in the U.S., there will now be a strong correlation and most likely in general gold will strengthen. But even if the movement is only periodic, I think this asset still requires a lot of attention. So I keep this asset in the open tab myself so that I don't miss a time of strong movement. And I see it not only on short-term positions, but also on long-term positions. I think it's a clear perspective. Are you actively working with this asset now? I'd like to know what my colleagues think about it.
Now it's hard to look for profitable situations on the market, so I grasp every opportunity.

 

[easymon1]

xauusd 5m Dbl Top, Trpl Top

 

[padutrader]

Gold breaks my heart too many times ...

all the best mister.

I haven't trade it for quite sometime even though its day range is wide.
number of bulls is about equal to the number of bears and that is bad for directional trading.
Price movement has been rather untrendy, chaotic, undecisive, erratic & messy.

copper is significantly much more trendy than gold.

while it looks more chaotic than others, gold is very easily tradeable using what was outlined in the section entitled signal bars chapter one of Brooks first book.

Following this alone, i believe, is enough for a trader to make a living out of trading.

the mistake is in thinking that you have to finish the book in order to learn to trade...

i am planning to detail and explain the trades i make according to what Brooks has taught in this section alone.

with charts.

this is not to prove my greatness but to show that Brooks is probably the most under rated and misunderstood teacher.

 

[padutrader]

Are you actively working with this asset now?

yes

i am trading only this.

i use what Brooks has taught and hope to show the value of that simple method in this thread.

hopefully it will help many others to make sense of this erotic activity and help them tackle this complex problem with the simplest of tools.

Brooks is IMO the most brilliant of traders and he has done what no other famous trader has attempted to do: put his trading instincts into a book.

i salute him and am not ashamed of doing so.

 

[padutrader]

View attachment 231719 xauusd 5m Dbl Top, Trpl Top

you have done a very rare thing here in ET

actually posted a chart

please continue

 

[padutrader]

View attachment 231719 xauusd 5m Dbl Top, Trpl Top

yes
simple ideas in trading work very well

 

[easymon1]

please continue

thanks man.

good to see you reenter that gold trade the other day.
good stuff.

Big Fan of hammers and engulfing entries at support and resistance,
... fibs and measured move target exits.

the double top/ bottom - measured move targets - are a new addition via a scatophagus casual post. Too simple to pass up, seems to resonate well so far.
if i find something simpler than this, then i'll do that.

-
Charts For No Reason
https://elitetrader.com/et/threads/charts-for-no-reason.344272/

POST Some CHART Images in THUMBNAIL Format Right Here, Baby.
https://elitetrader.com/et/threads/...at-right-here-baby.343012/page-5#post-5129426

 

[padutrader]

.....thinking i will scalp 2nd legs it keeps little money coming in without much analysis

 

[padutrader]

https://www.tradingview.com/x/RVa3o9Xd/

 

[donnap]

Gold breaks my heart too many times ...

Yes, gold has been, er, "difficult" for me.

And silver is gold's idiot, bipolar, crackhead, cousin.

I do like them as investments, however. Shiny, pretty stuff.