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  • #29,041
  • Mar 21, 2024 2:13am Mar 21, 2024 2:13am
Quoting ForexYogi
Hello Experts, Please suggest: i have one lot gold buy at 2140 i have .5 gold sell @2080 and .5 @ 2075. I have total around 6000 + loss but still i have 2000+ margin. How to safely come out from present situation. Thanks in advance
so you've got 9(!) underwater.., about seventy pips(+) with one & one hundred thirty(-) with ten..,

my suggestion for future hedging.., only "definite" quantity of loss (or gain) have to force you to open hedge.., for example: 30 pips range, 50 pips range etc...,
/ needs to be "the range" you familiar with.., and at least 1/3 or 1/4 of ADR daily..,)

for now my suggestion.., take 1/3, 3 lots, hedge, than see if you can recover, going by one third.., choosing range and playing by 20-30 (!!?) pips.., even 10..,
do not expect to get back anything, just trade.., entering manually or by pending..,
it's your kitchen, your mess, you to manage to recover something(!)..,

today is news day.., and tomorrow is Friday.., so you have to be clear with yourself about what are you going to do.., and you can be wrong
...if you have swap free account it would help, but..,
sorry.., cannot add anything..,
dolce vita
  • #29,042
  • Mar 21, 2024 2:15am Mar 21, 2024 2:15am
No preference for TP... Hoping 2200 to 219x area
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study of behavior and mind,conscious and unconscious
  • #29,043
  • Mar 21, 2024 2:19am Mar 21, 2024 2:19am
Quoting babayaga
{quote} so you've got 9(!) underwater.., about seventy pips(+) with one & one hundred thirty(-) with ten.., my suggestion for future hedging.., only "definite" quantity of loss (or gain) have to force you to open hedge.., for example: 30 pips range, 50 pips range etc..., / needs to be "the range" you familiar with.., and at least 1/3 or 1/4 of ADR daily..,) for now my suggestion.., take 1/3, 3 lots, hedge, than see if you can recover, going by one third.., choosing range and playing by 20-30 (!!?) pips.., even 10.., do not expect to get back anything,...
in addition
"other" pair could be help as well.., cs I do not know what you trade
dolce vita
  • #29,044
  • Mar 21, 2024 2:21am Mar 21, 2024 2:21am
Quoting Techknow
{quote} Would love to give you input, tell me what your analysis is saying to you?
In my opinion, the next targets can be 2323 and 2350, and after that, correction to 2100 and 2085.
  • #29,045
  • Mar 21, 2024 2:25am Mar 21, 2024 2:25am
Quoting Techknow
{quote} Would love to give you input, tell me what your analysis is saying to you?
well as per my channel i feel from here its good sell opportunity, and i want to get your advice,
if this channel is correct or i should wait for one more confirmation.

thanks in advance
  • #29,046
  • Mar 21, 2024 2:29am Mar 21, 2024 2:29am
Quoting babayaga
{quote} so you've got 9(!) underwater.., about seventy pips(+) with one & one hundred thirty(-) with ten.., my suggestion for future hedging.., only "definite" quantity of loss (or gain) have to force you to open hedge.., for example: 30 pips range, 50 pips range etc..., / needs to be "the range" you familiar with.., and at least 1/3 or 1/4 of ADR daily..,) for now my suggestion.., take 1/3, 3 lots, hedge, than see if you can recover, going by one third.., choosing range and playing by 20-30 (!!?) pips.., even 10.., do not expect to get back anything,...
Yea its difficult to explain to someone who is clearly new how to get out of this situation. Thats not a bad plan Baba What do you think about this?

I think it may be easier and less stressful for him as a newb to try it this way. I have your positions showing on my chart. Red for short, green for long. Put your gold long in a 1 dollar profit. Price will come down a little bit but probably is going to go back up, so what you want to do is stay hedged till price is actually going to come down through both trades. Price can go up to whatever, but it won't matter; when the price starts to come down eventually, and when it does, it will clip your long trade out at break even ish, and by that time, it might be on its way down much lower, you probably will get your best chance at not losing tons of equity this way. Although as Baba said, it does helps to have a swap free account in these situations. Oh boy does it help Food for future thought.
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TechKnow
  • #29,047
  • Mar 21, 2024 2:32am Mar 21, 2024 2:32am
Quoting abimalik
{quote} well as per my channel i feel from here its good sell opportunity, and i want to get your advice, if this channel is correct or i should wait for one more confirmation. thanks in advance
I think it's great you posted a chart here. Thank you; I think the channel is inaccurate, but that's okay; it will get easier in time. I would not go shorting anything right now; we may see some slightly lower prices. I think inevitably we will move up to 23xx . My personal opinion is its a very bad time to short. Whether I am right or wrong, the question you should ask yourself is if you are prepared to be wrong at this stage. Because of the indecision you are having i think it is wise you stay out and find a better place So many opportunities so stare at this thing ill you find the perfect one everyday, its not going anywhere.
TechKnow
  • #29,048
  • Mar 21, 2024 2:34am Mar 21, 2024 2:34am
Quoting Raadco
{quote} In my opinion, the next targets can be 2323 and 2350, and after that, correction to 2100 and 2085.
I think these are safe targets to get out of longs around this area. It may go a bit higher but this is a conservative way to approach the trade, I will also be looking to exit at any big spikes into 23xx
TechKnow
  • #29,049
  • Mar 21, 2024 2:43am Mar 21, 2024 2:43am
Quoting Techknow
{quote} I think these are safe targets to get out of longs around this area. It may go a bit higher but this is a conservative way to approach the trade, I will also be looking to exit at any big spikes into 23xx
Yes, you should always be careful in trading
But I think gold will reach higher prices this year (which I don't like to see happen).
  • #29,050
  • Mar 21, 2024 2:46am Mar 21, 2024 2:46am
Quoting Raadco
{quote} Yes, you should always be careful in trading But I think gold will reach higher prices this year (which I don't like to see happen).
Yes i also think gold will reach higher prices
TechKnow
  • #29,051
  • Mar 21, 2024 2:57am Mar 21, 2024 2:57am
Gold prices hit a record high in Asian trade on Thursday due to a sharp drop in the dollar after the Federal Reserve kept interest rates steady and signaled that it was still considering rate cuts this year. The prospect of lower interest rates in the coming months, coupled with Fed officials forecasting a 75 basis point drop in interest rates by end-2024, bodes well for gold. Other precious metals also rose sharply, including platinum and silver futures. Copper prices rose back towards 11-month highs due to potential supply shocks arising from production cuts by China's biggest copper refiners.
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  • #29,052
  • Mar 21, 2024 3:02am Mar 21, 2024 3:02am
Quoting Techknow
{quote} Yea its difficult to explain to someone who is clearly new how to get out of this situation. Thats not a bad plan Baba What do you think about this? I think it may be easier and less stressful for him as a newb to try it this way. I have your positions showing on my chart. Red for short, green for long. Put your gold long in a 1 dollar profit. Price will come down a little bit but probably is going to go back up, so what you want to do is stay hedged till price is actually going to come down through both trades. Price can go up to...
I have described shortly "my schema", that I USED to "apply" with my trading with crude..,
sorry no suggestions that I am not familiar with
dolce vita
  • #29,053
  • Mar 21, 2024 3:03am Mar 21, 2024 3:03am
On a lighter note,

Now that we all (almost all) have concluded the prices r gonna go up.... this makes me wonder, isn't gold always plays with our judgement and does something extraordinary to make us suffer ??

Lets hope for best.
Good or bad, this too shall pass...!!
  • #29,054
  • Mar 21, 2024 3:04am Mar 21, 2024 3:04am
Quoting Techknow
{quote} I think it's great you posted a chart here. Thank you; I think the channel is inaccurate, but that's okay; it will get easier in time. I would not go shorting anything right now; we may see some slightly lower prices. I think inevitably we will move up to 23xx . My personal opinion is its a very bad time to short. Whether I am right or wrong, the question you should ask yourself is if you are prepared to be wrong at this stage. Because of the indecision you are having i think it is wise you stay out and find a better place So many...
Thanks for your valuable input
  • #29,055
  • Mar 21, 2024 3:22am Mar 21, 2024 3:22am
I am not bullish and not bearish with gold because I have no signal so till now I am not trading but Bulls need to be on High alert specially.
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  • #29,056
  • Mar 21, 2024 3:29am Mar 21, 2024 3:29am
Quoting babayaga
{quote} so you've got 9(!) underwater.., about seventy pips(+) with one & one hundred thirty(-) with ten.., my suggestion for future hedging.., only "definite" quantity of loss (or gain) have to force you to open hedge.., for example: 30 pips range, 50 pips range etc..., / needs to be "the range" you familiar with.., and at least 1/3 or 1/4 of ADR daily..,) for now my suggestion.., take 1/3, 3 lots, hedge, than see if you can recover, going by one third.., choosing range and playing by 20-30 (!!?) pips.., even 10.., do not expect to get back anything,...
Thanks for your valuable feedback. Appreciate this..
  • #29,057
  • Mar 21, 2024 3:59am Mar 21, 2024 3:59am
Hi all,

very difficult to take prositions from now on Gold...The only way to take long position is to wait 2190 level. But not very sure, it seems 2180 is better.

For the moment I prefer stay concentrate on BTCUSD which is blocked at 67300 level on H1 TF and may be return to 66000 (M30 support) or 65000 (M15 support) level very quickly.

Trade safe!
  • #29,058
  • Mar 21, 2024 4:03am Mar 21, 2024 4:03am
Have you seen the CHF news?

https://www.forexfactory.com/news/12...icy-and-lowers

Can we have some expert opinion on what this means for USD and Gold?
ma ma make me happy
  • #29,059
  • Mar 21, 2024 4:08am Mar 21, 2024 4:08am
Quoting hanzohas
Have you seen the CHF news? https://www.forexfactory.com/news/12...icy-and-lowers Can we have some expert opinion on what this means for USD and Gold?
Nothing, it's a short term reaction to the CHF, if anything a CB cutting rates is an indicator to the rest of the banks especially FED that they can cut soon.
  • #29,060
  • Mar 21, 2024 4:11am Mar 21, 2024 4:11am
Quoting hanzohas
Have you seen the CHF news? https://www.forexfactory.com/news/12...icy-and-lowers Can we have some expert opinion on what this means for USD and Gold?
this means situation is better, so chf will be strengthen, with usd too
People don't plan to lose. They lose because they don't plan.
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