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  • #38,221
  • Aug 14, 2024 1:16pm Aug 14, 2024 1:16pm
Quoting ScalaFX
{quote} Im biased short term for sell, but only for correction to 2450-40, and will be closing all longs above 2500, will be watching PA there, and of course will be building there short for long term
shorts closed, now waiting for pull up and decide
People don't plan to lose. They lose because they don't plan.
  • #38,222
  • Aug 14, 2024 1:20pm Aug 14, 2024 1:20pm
Quoting ScalaFX
{quote} its looks like 1st wave, strong move and dont go back today, maybe 2nd for 2260-65 and full down with 3 to 2350-30, lets see tomarrow
Hey buddy! Can you please share the price for the Gold at 38.2% Fibo from the low of 1815$ to the high at 2485$? Thanks!

That 2250$ is looking likelier in my opinion, especially if the price starts tanking below 2400$.
  • #38,223
  • Aug 14, 2024 1:29pm Aug 14, 2024 1:29pm
Quoting Silver-King
{quote} Hey buddy! Can you please share the price for the Gold at 38.2% Fibo from the low of 1815$ to the high at 2485$? Thanks! That 2250$ is looking likelier in my opinion, especially if the price starts tanking below 2400$.
Yes butYprice can bounce from here for ATH still, in this levels every trader must be carefull, we have triple top, price can fall from here without any correction to 2300 or bounce here and make 2520 or more, only good MM and hedge can safe and make some money
People don't plan to lose. They lose because they don't plan.
  • #38,224
  • Aug 14, 2024 1:37pm Aug 14, 2024 1:37pm
High-low
Attached File(s)
File Type: mq4 High - low trend fib mtf 3 BT.mq4   41 KB | 427 downloads
  • #38,225
  • Aug 14, 2024 1:38pm Aug 14, 2024 1:38pm
Quoting pedro319
1 min We could still go a bit lower. {image}
It's better to let price do the talking.
Bounce started and I expect to see at the very least 2463, by then all stops will be moved to safety.
If we continue to 2509 great, if not, its ok too.
This type of bounce I call it: .Fx Bible .618 bounce.
Attached Image (click to enlarge)
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We watch the charts from every angle so you don't have to!!
  • #38,226
  • Aug 14, 2024 1:45pm Aug 14, 2024 1:45pm
Quoting ScalaFX
{quote} Yes butYprice can bounce from here for ATH still, in this levels every trader must be carefull, we have triple top, price can fall from here without any correction to 2300 or bounce here and make 2520 or more, only good MM and hedge can safe and make some money
Thank you for the warning and I am well aware of the triple top on the Gold, however the Support we were talking about is still in play. I have the plan in place if the Support fails, don't worry! So, what's 38.2% if you can share please, because I'm not at Home and I can't seem to find any online chart with the Fibo.
  • #38,227
  • Aug 14, 2024 1:51pm Aug 14, 2024 1:51pm
Some relief on the Silver front. If the Support keeps holding, then we're good to go for 28.5$ and then don't ask me what'll happen because I don't know haha. By the time the Silver reaches 28.5$ the Gold will be above 2500$ and then God knows what'll happen.
  • #38,228
  • Aug 14, 2024 1:54pm Aug 14, 2024 1:54pm
Quoting Silver-King
{quote} Thank you for the warning and I am well aware of the triple top on the Gold, however the Support we were talking about is still in play. I have the plan in place if the Support fails, don't worry! So, what's 38.2% if you can share please, because I'm not at Home and I can't seem to find any online chart with the Fibo.
2237
People don't plan to lose. They lose because they don't plan.
  • #38,229
  • Aug 14, 2024 2:01pm Aug 14, 2024 2:01pm
Quoting ScalaFX
{quote} 2237
Haha... of course. Thanks man! Strong rallies like this usually do end up retracing around 38.2%. We'll see...
  • #38,230
  • Aug 14, 2024 2:03pm Aug 14, 2024 2:03pm
Quoting eyefeelsix
{quote} I take my short Profit for +6% reward, next.. 2 scenarios to fill the GAP {image}
now I saw your chart, clear as always and similiar to mine, lets see this can work, cheers Bud
People don't plan to lose. They lose because they don't plan.
  • #38,231
  • Aug 14, 2024 2:04pm Aug 14, 2024 2:04pm
I have to admit that I've never witnessed a more competent thread on the FF than this one right here. Keep up the good work people!
  • #38,232
  • Aug 14, 2024 2:10pm Aug 14, 2024 2:10pm
Reuters gold article updated

https://www.reuters.com/markets/comm...ms-2024-08-14/
  • #38,233
  • Aug 14, 2024 2:11pm Aug 14, 2024 2:11pm
Quoting Silver-King
I have to admit that I've never witnessed a more competent thread on the FF than this one right here. Keep up the good work people!
Totally agree with you. Learnt so much from the posters in this thread.
  • #38,234
  • Aug 14, 2024 2:17pm Aug 14, 2024 2:17pm
Time for...

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"Who Dares Wins"
  • #38,235
  • Aug 14, 2024 2:28pm Aug 14, 2024 2:28pm
I think today was the perfect example of why I believe the news don't really matter at all. Of course, I pay attention to the price and what it's doing, but data as the data itself don't mean anything. It is also my belief that it's all scripted anyway. CPI at 2.9% is a complete and utter lie. It's much, much higher than that. Now, did the Gold drop to it's Support level because of the CPI report that actually came out softer rather than stronger? Obviously, not. The price is always going from the point A to the point B. The news can only affect the price that much that it sometimes slows down the process of the price getting from the point A to the point B or accelerate the process of the price getting from the point A to the point B. This is the reason why I believe that TA is the only tool one needs when trading or investing. Everything else is just an unhelpful noise. I just thought I'll throw this one out and see what other people think about it.

Yeah... those "out of the blue sky news" also tend to come out just when it's appropriate and the price is around some Fibo level. Very interesting indeed.
  • #38,236
  • Aug 14, 2024 2:30pm Aug 14, 2024 2:30pm
Quoting profits7
{quote} {image}
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Don’t focus on making $$$, focus on protecting what you have.
  • #38,237
  • Edited 3:13pm Aug 14, 2024 2:38pm | Edited 3:13pm
Quoting profits7
{quote} {image}
around target 1 you must be carefull, like you see structure on h1 and h4 is broken and thats can be only pullback now before solid ride down, take care
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People don't plan to lose. They lose because they don't plan.
  • #38,238
  • Aug 14, 2024 4:03pm Aug 14, 2024 4:03pm
I think tomorrow should be telling of where the price will go. We should probably know tomorrow whether the price is going for 2500$ or if the price is on its way much lower.
  • #38,239
  • Aug 14, 2024 4:17pm Aug 14, 2024 4:17pm
Quoting pedro319
To the new followers: I use multi entry strategy or split position for this kind of trade. With a need to keep risk acceptable. For example: I opened longs at 2450 and then 2447, after the bounce I closed 2450 and kept 2447. Now I got another at 2439... so on so forth. It's the pa who decides whether I keep and add more, not me. I call that: managing positions and stops.
I almost blew my account but because of you i recovered everything and more
Risk comes from not knowing what you are doing
  • #38,240
  • Aug 14, 2024 6:13pm Aug 14, 2024 6:13pm
Newbie here, with aud's hin(08/15/24) possible bearish scenario, would xu go along with it?
Thanks in advance for experts.
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