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  • #27,641
  • Edited 5:35am Mar 5, 2024 5:21am | Edited 5:35am
Today's 05/03/24 Support & Resistance on MT5 Template

EURO
CABLE
JPY/USD
GOLD

https://www.forexfactory.com/thread/...8#post14781248
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #27,642
  • Mar 5, 2024 5:34am Mar 5, 2024 5:34am
GOLD, December High/ All time High @ 2144.65 will be tested today
will be interesting to watch
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FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #27,643
  • Mar 5, 2024 5:43am Mar 5, 2024 5:43am
Quoting Avir
GOLD, December High/ All time High @ 2144.65 will be tested today will be interesting to watch {image}
I know I'm going against many veterans here... but this high will be reached by Thursday/Friday and shoot up again during the NFP news to create a new high (just like Dec23) .. which will proceed with a beautiful fall.

Currently, it is showing a healthy resistance at 2127 level.

Lets see.
Good or bad, this too shall pass...!!
  • #27,644
  • Mar 5, 2024 5:57am Mar 5, 2024 5:57am
Quoting ParthSharma
{quote} I know I'm going against many veterans here... but this high will be reached by Thursday/Friday and shoot up again during the NFP news to create a new high (just like Dec23) .. which will proceed with a beautiful fall. Currently, it is showing a healthy resistance at 2127 level. Lets see.
I'm not sure what you call "Healthy resistance" here. To me it looks like market is waiting
for ISM any how? lets see
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #27,645
  • Mar 5, 2024 5:59am Mar 5, 2024 5:59am
Quoting ParthSharma
{quote} I know I'm going against many veterans here... but this high will be reached by Thursday/Friday and shoot up again during the NFP news to create a new high (just like Dec23) .. which will proceed with a beautiful fall. Currently, it is showing a healthy resistance at 2127 level. Lets see.

There is no resistance at that area. Please learn charting properly. U need to learn again. Resistance area has not been created until 2- 3 more monthly candles are created
Trading is very lonely
  • #27,646
  • Mar 5, 2024 6:09am Mar 5, 2024 6:09am
Quoting luckytujuh
{quote} Higher break it. 2191.59
I like your style
  • #27,647
  • Mar 5, 2024 6:14am Mar 5, 2024 6:14am
Quoting luckytujuh
{quote} There is no resistance at that area. Please learn charting properly. U need to learn again. Resistance area has not been created until 2- 3 more monthly candles are created
Firstly and humbly, I am not rejecting your point. However, we have not seen these levels before and whatever is happing right now is unprecedented. Further, this level is looking like 2118-19 level where the market gained some liquidity, hence, giving some resistance. This 2125-2127 level is behaving in same fashion. As far as monthly charts are concerned, how will you justify 2145 level when it reached for the very first time??? Anyways, I am just placing my reasoning and no offence to your understanding. I look at charting from a different angle during crazy times.

M still a noob, so, no disrespect to your opinion.

Cheers !!!
Good or bad, this too shall pass...!!
  • #27,648
  • Mar 5, 2024 6:16am Mar 5, 2024 6:16am
I'm not going to lie, gold is hard to trade at the moment to be honest. I will stand back for now and observe until its safe to enter. Good luck everyone and happy trading!
  • #27,649
  • Mar 5, 2024 6:18am Mar 5, 2024 6:18am
Quoting ParthSharma
{quote} Firstly and humbly, I am not rejecting your point. However, we have not seen these levels before and whatever is happing right now is unprecedented. Further, this level is looking like 2118-19 level where the market gained some liquidity, hence, giving some resistance. This 2125-2127 level is behaving in same fashion. As far as monthly charts are concerned, how will you justify 2145 level when it reached for the very first time??? Anyways, I am just placing my reasoning and no offence to your understanding. I look at charting from a different...

I get your point. No wrong no right. But it has to be seen in a bigger timeframe
But believe me just wait for nfp and this week closure. So u can trade with a better direction next week
Trading is very lonely
  • #27,650
  • Mar 5, 2024 6:32am Mar 5, 2024 6:32am
Quoting ParthSharma
{quote} Firstly and humbly, I am not rejecting your point. However, we have not seen these levels before and whatever is happing right now is unprecedented. Further, this level is looking like 2118-19 level where the market gained some liquidity, hence, giving some resistance. This 2125-2127 level is behaving in same fashion. As far as monthly charts are concerned, how will you justify 2145 level when it reached for the very first time??? Anyways, I am just placing my reasoning and no offence to your understanding. I look at charting from a different...
Here in this forum are many kind of traders like positional traders,scalp traders,Elliotwave followers ,ICT followers etc. Everyone has their own perspective. I am a scalp trader and I rarely hold my trades for next day or at weekend.As I am a Fibonacci Follower so 2127.75 is a strong resistance 161.8% level for me and this level can provide a retracement or reversal most of the times. At present Bulls are so powerful so for short term price can retrace from here or stay in this are for some time.Bulls required a lots of power to blast this level and they are powerful now. So if 161.8% 2127.75 broken then next target as per the fibo become 2191.56 261.8% and if retrace then 2119 or 2083-88 area. Trade safe
  • #27,651
  • Mar 5, 2024 6:38am Mar 5, 2024 6:38am
Quoting parveenverma
{quote} Here in this forum are many kind of traders like positional traders,I,scalp traders,Elliotwave followers ,ICT followers etc. Everyone has their own perspective. I am a scalp trader and I rarely hold my trades for next day or at weekend.As I am a Fibonacci Follower so 2127.75 is a strong resistance 161.8% level for me and this level can provide a retracement or reversal most of the times. At present Bulls are so powerful so for short term price can retrace from here or stay in this are for some time.Bulls required a lots of power to blast...
:-) thanks Man. fibb is quite powerful and few of my trades take reference from the same.

Let's see. Cheers....
Good or bad, this too shall pass...!!
  • #27,652
  • Mar 5, 2024 6:51am Mar 5, 2024 6:51am
Quoting Zebi
{quote} Ha? if youre familiar with the saying than you know germs means gentlemen...has nothing to do with the ladies ill stop using irreverent humor when youre around...hows that?
Misogynist Zeb? Dear God, the Woke brigade have found FF. You'll be cancelled in no time. No point crying "but I''m a Democrat" those fuckers have no mercy"
  • #27,653
  • Mar 5, 2024 6:53am Mar 5, 2024 6:53am
@Praveen - since you mentioned that you are a Fibb only trader. Please if you could throw some light on the Golds behaviour basis Fibb charts... like does it hold good most of the times ? or hold good during sideways market / volatile market, etc. Any inputs from your side would be valuable for all of us.

tnx
Good or bad, this too shall pass...!!
  • #27,654
  • Mar 5, 2024 6:58am Mar 5, 2024 6:58am
Quoting NextElliott
Whatever will happen before 8th march 2024, all will be consider as "BULL TRAP" ...
absolutely
You just got to have the Bad Days, so you can Love the Good Days even more!
  • #27,655
  • Mar 5, 2024 7:11am Mar 5, 2024 7:11am
Target update: The New Target for today is 2250.
  • #27,656
  • Mar 5, 2024 7:13am Mar 5, 2024 7:13am
The day will end somewhere between 2250 and 2275. Keep buying. Cheers.
  • #27,657
  • Mar 5, 2024 7:27am Mar 5, 2024 7:27am
GOLD resistance level 2133
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  • #27,658
  • Mar 5, 2024 7:29am Mar 5, 2024 7:29am
Quoting Avir
{quote} I'm not sure what you call "Healthy resistance" here. To me it looks like market is waiting for ISM any how? lets see
GOLD just touch Monthly R2 and poked through without any issue 1 minutes for ISM
Attached Image (click to enlarge)
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FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #27,659
  • Mar 5, 2024 7:33am Mar 5, 2024 7:33am
Quoting Avir
{quote} GOLD just touch Monthly R2 and poked through without any issue 1 minutes for ISM {image}

My friend, its because nyse just open, comex. Gold is based on comex. This what traders do not understand. Sometimes when it moves because of the gap balance, that liquidity. It has to close the gap and try to see whether it breaks or reject. From there then u decide what the next best move.

Which is better after nfp
Trading is very lonely
  • #27,660
  • Mar 5, 2024 7:34am Mar 5, 2024 7:34am
madnesssssssssssssss
Good or bad, this too shall pass...!!
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