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  • #31,081
  • Apr 13, 2024 2:05am Apr 13, 2024 2:05am
100 dollar fall on gold in just 8 hours wiping 2 weeks gain.

Gold
MQA Approved FX Trainer -
  • #31,082
  • Apr 13, 2024 2:35am Apr 13, 2024 2:35am
Quoting Techknow
{quote} If this doesn't look bearish to you, quit trading forever. I mean, literally, right now, shut your computer. Throw it out the window. {image}
"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." — Warren
  • #31,083
  • Apr 13, 2024 3:16am Apr 13, 2024 3:16am
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  • #31,084
  • Apr 13, 2024 3:17am Apr 13, 2024 3:17am
How renko system catch the Gold sharp movement
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  • #31,085
  • Apr 13, 2024 3:28am Apr 13, 2024 3:28am
Quoting Renko-boy
How renko system catch the Gold sharp movement {image}
How many billions you made since you knew the fall from renko system?
MQA Approved FX Trainer -
  • #31,086
  • Edited 5:16am Apr 13, 2024 5:04am | Edited 5:16am
Quoting GK12
{quote} that’s how it suppose to, but when price was at 1800 people were like we won’t see 2000 again, Now when price was at 2400, people were like we’re going to 3000, most of them are not able to put it together.
Anything above 1600-1300 is not enough to start making community sentiment hopelessly bearish. People involved in day-to-day trading will be more inclined to add to their longs then those adding to their shorts. Price needs to go down to 1200-800 to shake. At that point it could be a good time to look for long term reversal options.

When you observe news like "15-year gold low", you know it is time to turn off your brain and enter a buy-hold-tp-withdraw loop. You should practice your technical FX fantasies in alternative assets by then.

Edit: We don't always walk the talk. Not just because we don't want to, but also because we lack the funds and patience to insist. I have been holding and adding to shorts for 2 weeks since 2242. I could exit, but I want to take this chance, at least with 1/3 of my trades if can't resist the temptation to tp at some point.
ma ma make me happy
  • #31,087
  • Apr 13, 2024 5:41am Apr 13, 2024 5:41am
Quoting Techknow
{quote} If this doesn't look bearish to you, quit trading forever. I mean, literally, right now, shut your computer. Throw it out the window. {image}
Looks bullish to me. that close above pervious open and that wick on a friday profit closing pull back. Yum. I might move the tp to the top of the wick on monday
  • #31,088
  • Apr 13, 2024 10:26am Apr 13, 2024 10:26am
Quoting Mcbeaners
short cover rally to 2360ish
kept my long open. let's see what Sunday brings. might rally to 2365.

also folks should look up "translation" to see gold is still bullish.

fingers crossed
In tea leaves we trust!
  • #31,089
  • Apr 13, 2024 11:21am Apr 13, 2024 11:21am
Iran seized an Israeli linked cargo ship. Maybe the start of a retaliation.
  • #31,090
  • Apr 13, 2024 2:27pm Apr 13, 2024 2:27pm
Quoting Sutts82
Iran seized an Israeli linked cargo ship. Maybe the start of a retaliation.
Israel put all forces on high alert.
some sort of lock down on sunday
jordan closes its air space

they are expecting something to happen on sunday
  • #31,091
  • Apr 13, 2024 3:23pm Apr 13, 2024 3:23pm
Iran launches attack against Israel using dozens of drones - U.S. and Israeli officials
MQA Approved FX Trainer -
  • #31,092
  • Apr 13, 2024 3:35pm Apr 13, 2024 3:35pm
Quoting FXWish
Iran launches attack against Israel using dozens of drones - U.S. and Israeli officials
another drama from Iran
  • #31,093
  • Apr 13, 2024 4:08pm Apr 13, 2024 4:08pm
Quoting Techknow
{quote} If this doesn't look bearish to you, quit trading forever. I mean, literally, right now, shut your computer. Throw it out the window. {image}
Think about it, very extended, it's Freaky Friday, all those long trades with profits just want to get out, once it starts down the algos kick in, then retail traders will push it hard, hope you got some, this is how price action action works, there will be retracement; will it be a total reversal?

No One Knows.

Trade Responsibly.

It takes a lot for me to IGNORE you, but you can try.
  • #31,094
  • Apr 13, 2024 4:11pm Apr 13, 2024 4:11pm
Gold has breakout the up trend channel if breakout the 2330 it can go 2265 first then 2225 its depend on forming pattern with confirmation now we can wait for consultation on Monday and Tuesday.
On the other hand search but from 2330 if he give respect to channel
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  • #31,095
  • Apr 13, 2024 4:17pm Apr 13, 2024 4:17pm
Distance Iran - Israel is ~2000km. In the news is mentioned that it will take hours to reach that distance. Maybe about 20 hours. Will this form a danger
  • #31,096
  • Apr 13, 2024 4:18pm Apr 13, 2024 4:18pm
Bullish falling wedge pattern DXY
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  • #31,097
  • Apr 13, 2024 4:40pm Apr 13, 2024 4:40pm
Quoting Erebus
{quote} Think about it, very extended, it's Freaky Friday, all those long trades with profits just want to get out, once it starts down the algos kick in, then retail traders will push it hard, hope you got some, this is how price action action works, there will be retracement; will it be a total reversal? No One Knows. Trade Responsibly.
_____________ just study , Learn and follow LIQUIDITY = IMHO
Don’t focus on making $$$, focus on protecting what you have.
  • #31,098
  • Apr 13, 2024 6:33pm Apr 13, 2024 6:33pm
________________ =
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Don’t focus on making $$$, focus on protecting what you have.
  • #31,099
  • Apr 13, 2024 7:02pm Apr 13, 2024 7:02pm
Quoting Erebus
{quote} Think about it, very extended, it's Freaky Friday, all those long trades with profits just want to get out, once it starts down the algos kick in, then retail traders will push it hard, hope you got some, this is how price action action works, there will be retracement; will it be a total reversal? No One Knows. Trade Responsibly.
It definitely could spring back up to the area I mentioned before falling. I suppose it could continue up. This is trading, after all. However, there shall be no denial of this extremely bearish weekly candle from any parties; I shall hear none of it. It is not an opinion if the candle is bearish. Is everyone going to go against the very clear sign? If the price moves up, okay, it moves against a clearly bearish candle; it's a small loss, but if it goes down, are you all going to ask yourself why you didn't pull the trigger on the world's biggest shooting star?? I prefer taking the bad beat over missing the obvious.

Furthermore, friends, open up your weekly gold candles. There has been ONE single shooting star in history that the following week closed above, by 2 dollars, and was quickly turned down the following candle. Every single other one of them has been closed below the following week, forever. Are we now going to assume that this even bigger shooting star is, for some reason, not bearish? Once again, id rather take a bad beat then deny the obvious signs.
TechKnow
  • #31,100
  • Apr 13, 2024 7:08pm Apr 13, 2024 7:08pm
Quoting DatRikFX
{quote} Looks bullish to me. that close above pervious open and that wick on a friday profit closing pull back. Yum. I might move the tp to the top of the wick on monday
TP at the top of the wick has previously been mentioned as common price action and could very well be expected, as I said in my post about this candle. That does not diminish the bearish formation on the weekly. As I stated, the price will only be bullish again if the price CLOSES above the weekly candle.
TechKnow
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