Gold

Start your journey on a 5 minutes chart

When macd is near the zero line start your trade
When macd is at the extreme take your profit

why did i select this method
who can explain ?

Short at : 2675
Sl : 2679(sl chaged to 2680)(sl hit)(-50pip)
TP : 2665
-----------------------
Add short at 2677
Sl : 2680(sl hit)(-30pip)
Tp :open
---------------------
Short at 2679
Sl : 2684(may close manually if not working )(sl changed to 2681.5)
Tp : Open (close a 2678 )(+10pip)
--------------
Add short ar 2678
SL : 2683(sl changed to 2681.5)
TP : 2674(close a 2678 pip )(+1pip)
---------------
add another short at : 2677
SL : 2681(sl changed to 2681.5)
TP : 2674(tp hit) (+30)
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Add short at 2675.50
Sl : 2679(moved to 2678)(sl hit) (-25pip)
Tp : 2671
---------------
long at : 2677
Sl: 2673(sl changed to 2674.50)
Tp : Open (closed at 2379)(+20pip)
-------------------
Add long at 2678.50
Sl: 2674.50
tp : open (closed at 2379)(+5pip)
-----------------
add another long at 2680
Sl: 2675
Tp: 2684(Tp Hit)(+40pip)
---------------
add another long at :2681
Sl : 2677.50
TP : 2685(tp hit)(+40pip)
-----------------
Short at : 2679.50
sl : 2683.50
Tp : open(closed at 2674) (+55pip)
----------------
Add short at : 2677
Sl : 2683.50 (it will be trailing Stop)
Tp :open(closed at 2670 ) (+70pip)
----------------
Add another short at 2674.50
Sl : 2680.50
TP : 2670 (tp hit) (+45pip)
---------------
add another short at : 2672
Sl : 2675(sl moved to 2676)
Tp : 2667(tp hit ) (+50)
---------------
Add short at : 2674
SL : 2676
TP : 2671(tp hit)(+30pip)
----------------
Add short at : 2669.50(probably last poistion )(risky)
Sl : 2673.50(closed at 2674) (-45pip)
Tp : 2665
---------------
add short at : 2672
Sl 2673.5(closed at 2674)
Tp :2669
----------------
Today Status so far : (-50,-30,10,1,30, -25,20,5,40,40,55 70,45,50,30,-45,-20pip) , Total : +226pip
Today Win Ratio : 12/17 or %71
Max Drawdown : -80
Max profit : +291

h1 cci has come down from the 200+ extreme, good that price is consolidating now

more a less every short trade for me has been a disaster for gold just not getting that sell momentum correction yet … markets just waiting to buy buy , hope this test of near highs was it and deeper correction now incoming … but doesn’t look promising right now
… gold buy only or short day trade only

with this weekly candle gold is going to reach a new high, there is no fundamental reason for lowering price

because macd is a momentum indicator

we get in when a journey starts not when a journey is ending

I never thought about it that way before. I guess reversal traders focus on extreme price points, while trend traders look at the zero line. Benefits: extreme MACD levels can sometimes give false signals.

macd is very powerful, I combine it with big trends like D1 (this is enough to know the sentiment on the fundamentals), with proper money management and tight SL, don't be greedy by trading lower time frames like M5, just 1:1 or 1:2 maximum

a trend change is easily visible when the belly is 24", but very tough when it is 200"

m5 and m15 gives early signals

Goldi wants to drop

sl changed to 2680
------------
Add short at 2677
Sl : 2680(sl hit)
Tp :open

Going with the trend ensures that probability leans your way, what would make one sell gold(No fundamentals or news), keep on shorting and you'll see. As Traders we have a hard time believing in our biases instead of just reading the charts, we end up losing, i did the same when we got to 2500, I knew it was still bullish and was still looking for shorts. That's how you fuck up.

Drop?!?! Shit's going up, RIP to your SL

lolnice, you are probably correct but I'm:

https://www.forexfactory.com/thread/...7#post15029897
XAUUSD M15

if > 2675, 2685, 2695

this red cloud needs to get touched

nice move for today