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  • #55,701
  • Dec 11, 2024 12:58pm Dec 11, 2024 12:58pm
The market is currently at 2721, and it is expected to find support around 2703. A buy position will be entered at that level to capture the trend, according to the 5-minute chart.
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  • #55,702
  • Dec 11, 2024 1:01pm Dec 11, 2024 1:01pm
Quoting Deal
Just to be aware.... Price must rest somehere that is also true... One EQ hit, high chance to look for the second.... That lines up with the repricing candle mention before... Daily.... {image}
I know where the reversal will occur. However, I appreciate your caution and the alert to be mindful. Thank you.
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  • #55,703
  • Dec 11, 2024 1:01pm Dec 11, 2024 1:01pm
Quoting Elliottway
The market is currently at 2721, and it is expected to find support around 2703. A buy position will be entered at that level to capture the trend, according to the 5-minute chart.
last time we hit 2721 we tumbled into the abyss.

I am well away from trades until I see if we can find some support.
  • #55,704
  • Dec 11, 2024 1:03pm Dec 11, 2024 1:03pm
Quoting Deal
{quote} Is possible if the day close around this price. Still my bias bullish even for tomorrow. Asia will tell if mantain.
If the direction is long. Price must close above 2721 at Daily TF (here I mean the body of the daily candle). Otherwise, price will go down to 2567-2536.
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For my intraday position, Moved STP to BE.
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  • #55,705
  • Dec 11, 2024 1:03pm Dec 11, 2024 1:03pm
Quoting Elliottway
The market is currently at 2721, and it is expected to find support around 2703. A buy position will be entered at that level to capture the trend, according to the 5-minute chart.
In 1H can stop around 2711...
Let the daily close....
Engage tomorow, don't predict yet.
After that you make your plan, confirm your entry with your patterns and then enroll and hope it went like the plan.
The candle close is important but where the candle wicks too.
  • #55,706
  • Dec 11, 2024 1:06pm Dec 11, 2024 1:06pm
Quoting oliverlee
{quote} last time we hit 2721 we tumbled into the abyss. I am well away from trades until I see if we can find some support.
I was caught then too.
Learn... Work Hard... Trade Alone
  • #55,707
  • Dec 11, 2024 1:11pm Dec 11, 2024 1:11pm
Quoting Deal
{quote} In 1H can stop around 2711... Let the daily close.... Engage tomorow, don't predict yet. After that you make your plan, confirm your entry with your patterns and then enroll and hope it went like the plan. The candle close is important but where the candle wicks too.
The situation was quite different before. The price tends to follow the trend if it finds proper support. Everyone has their own understanding of the market based on their experiences, and they believe their approach is the best. There’s no way to change that belief, as experience often leads people to discover certain strategies or tricks that work for them. However, personally, I don't consider myself to be among those who claim to have all the answers.
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  • #55,708
  • Dec 11, 2024 1:12pm Dec 11, 2024 1:12pm
Quoting Fadhl
{quote} If the direction is long. Price must close above 2721 at Daily TF (here I mean the body of the daily candle). Otherwise, price will go down to 2567-2536. {image} For my intraday position, Moved STP to BE. {image}
Not so true!
I preferably do not like mitigated zones for reversals and especially a bullish candle that rejected 50% the previous day. The chances are not good, but I also don't close my eyes to a negative day after 3 consecutive days of highs. It can be reverse or a simple pullback. I trade ranges and my chocs are all over the place, particularly H4. Doesn't mean that with a strong momentum I believe in any choc. How many do you have that doesn't play out in the charts? We all call it stop hunts to make the really breakout. They need our orders to do it..
  • #55,709
  • Dec 11, 2024 1:21pm Dec 11, 2024 1:21pm
Let's think...
Resistance or Gap???
This is the question!
One guy will see from one perspective and another from the opposite...
Market is not easy!


Edit: Or even better... That equal highs left.... Yes by this perspective we can have a reversal... Many concepts that work, we need to align it!

In a resistance perspective we can also have a smal bearish day to friday breakout and so on...
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  • #55,710
  • Dec 11, 2024 1:25pm Dec 11, 2024 1:25pm
Quoting BiteFX
{quote} I was caught then too.
asian session start, you said you have a long @2695 did it hit SL or profit, coz of sudden price drop before go up.
  • #55,711
  • Dec 11, 2024 1:25pm Dec 11, 2024 1:25pm
Quoting Elliottway
{quote}The situation was quite different before. The price tends to follow the trend if it finds proper support. Everyone has their own understanding of the market based on their experiences, and they believe their approach is the best. There’s no way to change that belief, as experience often leads people to discover certain strategies or tricks that work for them. However, personally, I don't consider myself to be among those who claim to have all the answers.
I did think that as I was typing.

I have none of the answers, I’m just playing with support and resistance levels right now. One eye on the news and one eye on the momentum.

I’ve finally found something that keeps my brain engaged
  • #55,712
  • Dec 11, 2024 1:34pm Dec 11, 2024 1:34pm
Quoting oliverlee
{quote} I did think that as I was typing. I have none of the answers, I’m just playing with support and resistance levels right now. One eye on the news and one eye on the momentum. I’ve finally found something that keeps my brain engaged
You're approaching the market with a healthy level of curiosity and an open mind, which is great! Focusing on support and resistance levels, while keeping an eye on both news and momentum, is a solid strategy. It's important to stay engaged and adapt to what works best for you. The market is constantly evolving, so having the flexibility to experiment and refine your approach is key. Keep learning and adjusting as you go!
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  • #55,713
  • Edited 1:49pm Dec 11, 2024 1:34pm | Edited 1:49pm
This was always the possible turning point, but i still don't buy that.
Tomorrow wil see...
They are engineering something, that is for sure!

In a range deviation we can still get the top easy,,,
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  • #55,714
  • Dec 11, 2024 1:43pm Dec 11, 2024 1:43pm
Quoting Tintin2014
{quote} asian session start, you said you have a long @2695 did it hit SL or profit, coz of sudden price drop before go up.
No, that trade was cancelled.
Learn... Work Hard... Trade Alone
  • #55,715
  • Dec 11, 2024 2:15pm Dec 11, 2024 2:15pm
i want to short so bad!!!
reach for the stars
  • #55,716
  • Dec 11, 2024 2:16pm Dec 11, 2024 2:16pm
i am of the opinion that it is heading much higher .. few technics i developed and follow tell me .. if we dont reverse here .. we are heading much higher .. anyway its a no loss trade .. so even if i get stopped out .. no issues .. key level to watch would be the breakout of today ..
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Candlesticks dont move markets, Volume does
  • #55,717
  • Dec 11, 2024 2:32pm Dec 11, 2024 2:32pm
Quoting BiteFX
A fellow FF user mentioned that trading is hardwork, and the truth be told, hardwork it is. But an intellectual one at that. Over the weekend, I was studying the work of late J. Welles Wilder Jr, and something caught my attention that I have not recovered from. How can a mechanical engineer so boldly lay a claim that a system is true. He must have hinted upon something while working hard. Even somewhere in that material, he said that the system was a breakthrough. Oh boy! I am all in. Whatever he saw in those days, may my eyes see them for profit...
hey sir! can you pls tell me this book name ?
  • #55,718
  • Edited 3:24pm Dec 11, 2024 3:11pm | Edited 3:24pm
For bull move possible retracement at 2704...2711...2700.
Close below 2693.915, is time to start consider a shift from bull to bearish in 15m TF.
Always wait for close candles.


Resistance to bulls 2738, 2726

Can be 2721, but is suspicious hold because 4H breakout the hight most likely will breakout this price.
  • #55,719
  • Dec 11, 2024 4:07pm Dec 11, 2024 4:07pm
bullish is super strong. don't even try to enter bearish. normally when gold show bullish trend it stay till end of the week. call it manipulation or whatever. asian session normally try to push the price up as well. like out of 10 days it will push the price 8 days.
  • #55,720
  • Dec 11, 2024 5:19pm Dec 11, 2024 5:19pm
Due to CPI news and or the fundamental news that was released this week, this effect will drive Gold to new all times high. Expect Gold to continue rising. I have my eyes on targeting as my take profit level at 2730 as the next resistance leve. Buying Gold.
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