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  • #2,961
  • Jul 21, 2022 8:39am Jul 21, 2022 8:39am
Today I made a quick scalp on M1 that lasted 01:10. Did not have time to put a SL or TP. Closed Manually at the end of the candle on a fast price move (when the trend up was starting). I closed since my daily profit target (1%) was almost doubled (1.73%). I had just turned on the computer and did not have time to analyze the market before. There was news around. Even though earnings could have been greater if I had more patience, I am glad.
I need to practice discipline, so with my daily profit target reached, I am done for today (After 1 minute of trading and 1h30 analyzing the markets and registering my graphics and Excel journal ).
Haver a great day!
Attached Image (click to enlarge)
Click to Enlarge Name: 08h20-Final trade analysis- XAUUSDM1- 21 jul 2022.png Size: 56 KB
  • #2,962
  • Jul 21, 2022 9:28am Jul 21, 2022 9:28am
Quoting aahmad29
Price has gone to 1690 and let’s see if price break the level of 1669 low which happened on August 8,2021
Failed to go below 1669 so let’s see what happen now. If price go back down and try to break 1669 or try to close above 1700 today
Love for all; Hatred for none.
  • #2,963
  • Jul 21, 2022 1:08pm Jul 21, 2022 1:08pm
Two more trades closed one long and one short. Total 7 trades so far for this week.

Buy 1698 - 1712.69
Sell 1715.83 - 1712.91

I will try to get some more trades between 1721 and 1680 area
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.png Size: 26 KB
Love for all; Hatred for none.
  • #2,964
  • Jul 21, 2022 2:08pm Jul 21, 2022 2:08pm
It looks like it will correct no higher than 1750 now and then it will break down (2021 low) 1680.
  • #2,965
  • Jul 21, 2022 3:25pm Jul 21, 2022 3:25pm
Quoting ForexGoose
{quote} exited at 1703, it could come back down again
Price is close to your initial target
Love for all; Hatred for none.
  • #2,966
  • Jul 21, 2022 3:32pm Jul 21, 2022 3:32pm
Quoting RichClaws
It looks like it will correct no higher than 1750 now and then it will break down (2021 low) 1680.
I am not expert but I have seen some analysis which mentioned initial up move to 1785
Love for all; Hatred for none.
  • #2,967
  • Jul 21, 2022 3:55pm Jul 21, 2022 3:55pm
Quoting aahmad29
{quote} Price is close to your initial target
indeed it is, but I exited because I want to short Gold
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_2022-07-21_16-54-47.png Size: 31 KB
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,968
  • Jul 21, 2022 5:13pm Jul 21, 2022 5:13pm
Quoting ForexGoose
{quote} indeed it is, but I exited because I want to short Gold {image}
You wanted and I did . I have short position at 1712 and TP@1702. Now I am holding my position because I already have couple of long trades open so it does not effect my margin level because short position is counter position against long.

H4 candle closed above SMA 200 so it will be interesting.

I read one analysis and it was mentioned that miners refused to reduce gold prices more than 1600 level and their stocks are sustained after dropping off price. I don’t know how much it affects the gold .
Love for all; Hatred for none.
  • #2,969
  • Jul 22, 2022 7:02am Jul 22, 2022 7:02am
maybe 1751 is the next target on h4 today
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_2022-07-22_08-02-12.png Size: 37 KB
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,970
  • Jul 22, 2022 7:52am Jul 22, 2022 7:52am
on the 4H timeframe gold started to go up. Hope it will going more.
  • #2,971
  • Edited 8:17am Jul 22, 2022 8:06am | Edited 8:17am
Hi, I just made another quick scalp on M1.
Sold around 1726.31 and closed around 1725.19 (15 positions of 2 lots each).
Closed Manually on resistance area.
Operation lasted 00:02:56 minutes
1.03% profit reached
Since my daily target of 1% has been reached, I am glad, and, done for today
This week the new demo account balance I opened three days ago is up 3.65%. My goal is to reach al least 10%, which is what I need to pass a paid challenge phase 1 on a prop firm. I need confidence that I develop a system and the discipline to not break the rules once I start the paid Challenge.
2:56 minutes of trading and, 55 minutes of registering my graphics and Excel journal . I may go to work and do other things earlier today
Have a great day and weekend!!
By the way, I am reading again The Disciplined Trader by Mark Douglas. This book and Trading in The Zone by same author, very recomended for those who have not read them yet
Attached Image (click to enlarge)
Click to Enlarge Name: 08h02- Final analysis-T1-XAUUSDM1-22 jul 2022.png Size: 62 KB
  • #2,972
  • Jul 22, 2022 8:42am Jul 22, 2022 8:42am
I am out of the market, but I think it is perfect to put a buy order now
I would open with tp 1729.83
Attached Image (click to enlarge)
Click to Enlarge Name: 08h43- XAUUSDM1.png Size: 63 KB
  • #2,973
  • Jul 22, 2022 8:46am Jul 22, 2022 8:46am
TP proposed..reached (Unfortunately, I need to develop discipline..so I was out of the market..just watching ).
Notice how 08h45 red news impacted on the price at M1. For scalping, news are very important moments to take advantage
Attached Image (click to enlarge)
Click to Enlarge Name: 08h45- XAUUSDM1- potential tp reaached.png Size: 62 KB
  • #2,974
  • Jul 22, 2022 9:40am Jul 22, 2022 9:40am
small resistance at 1740
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_2022-07-22_10-39-39.png Size: 35 KB
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,975
  • Jul 22, 2022 9:47am Jul 22, 2022 9:47am
Some of patience paid off. Three long positions are closed.

Buy 1725.99 - 1730.60
Buy 1719.11 - 1732.09
Buy 1712.25 - 1731.91

GAME IS ON but this time i had to show the higher level of patience to win game.

Price has entered into my sell zone but i also have some more long positions which i will wait.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.png Size: 28 KB
Love for all; Hatred for none.
  • #2,976
  • Jul 22, 2022 9:50am Jul 22, 2022 9:50am
Gold could rally into the FOMC next week, if the market further reduces expectations for a 100 bps hike
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: XAUUSD_2022-07-22_10-50-21.png Size: 40 KB
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #2,977
  • Jul 22, 2022 10:18am Jul 22, 2022 10:18am
Quoting ForexGoose
Gold could rally into the FOMC next week, if the market further reduces expectations for a 100 bps hike {image} {image}
I think we are on same page. My calculations were showing me 1800 level but I don’t want to wait. I will try to close my long position at 1785 but it needs to break level of 1743. I have added one sell limit at 1740
Love for all; Hatred for none.
  • #2,978
  • Jul 22, 2022 1:33pm Jul 22, 2022 1:33pm
Quoting aahmad29
Some of patience paid off. Three long positions are closed. Buy 1725.99 - 1730.60 Buy 1719.11 - 1732.09 Buy 1712.25 - 1731.91 GAME IS ON but this time i had to show the higher level of patience to win game. Price has entered into my sell zone but i also have some more long positions which i will wait. {image}
Shot position closed 1731 - 1723 (rebound from daily R1)

Closing my week. It does not mean that i don't have any trades. I have both long and short positions and i will keep it open.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.png Size: 23 KB
Love for all; Hatred for none.
  • #2,979
  • Jul 24, 2022 3:52am Jul 24, 2022 3:52am
i will take shorts on gold as market open!
pretty good opportunity
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software engineer
  • #2,980
  • Jul 24, 2022 3:24pm Jul 24, 2022 3:24pm
Quoting canelo123
i will take shorts on gold as market open! pretty good opportunity {image}
Too early for shorts, in my opinion. It could rally towards 1751 before the FOMC. If the FOMC is hawkish, Gold is going to be dumped back to 1683. I will try to buy the rumor and sell the fact.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_2022-07-24_16-24-27.png Size: 36 KB
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
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