Trading journal for gold silver etc.
- Thread starter goyaltraderz
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thnx prakash sharing ur analysis with us.
Be consistent here, together with time we will be able t0 make great trades here. So stay with us and keep it up.
also mine analysis of 750 is in jeopardy. multiple doji's on 30 min making me conscious but ew suggest that that even if downside comes that it shouldn't break the 733-35 area from there it may touch the 750. So will see wat happens.
Be consistent here, together with time we will be able t0 make great trades here. So stay with us and keep it up.
also mine analysis of 750 is in jeopardy. multiple doji's on 30 min making me conscious
but ew suggest that that even if downside comes that it shouldn't break the 733-35 area from there it may touch the 750. So will see wat happens.
Right now not able to post the chart, but i m expecting kinda double bottom arount 717-18 area then a move to, that has very well chance to exceed the today's high(appx 740) around 750-53 area. from there i m expecting a sharp thrust down to sub 680 area.
Right now i m expecting the volatility to continue coz of election. And also our bear count is valid until it touch the 777.25. The moment it touch the given figure we will have to reconsider the whole position
. Till now it made a big move to the upside more then we expected and also it made us conscious of our bear count.I will give all the details in chart as soon as possible or when i will have the clear direction.Edit.
Right now i m expecting it to hold the 765-767 area from where the down move may begin.
As expected the hold the 767 area, right now conradictory signal, we have triangle break out formation on 30 min that too good one , while ew count suggest that i m working with is 1.2 and i,ii, according to that we should not break the 760.60( i have mine doubts about that that's why bearish only below 750)
waiting for clear direction also bb services giving me real hard time but i'll try mine best
waiting for clear direction also bb services giving me real hard time but i'll try mine best
As expected the hold the 767 area, right now conradictory signal, we have triangle break out formation on 30 min that too good one , while ew count suggest that i m working with is 1.2 and i,ii, according to that we should not break the 760.60( i have mine doubts about that that's why bearish only below 750)
waiting for clear direction also bb services giving me real hard time but i'll try mine best
waiting for clear direction also bb services giving me real hard time but i'll try mine best
Dear rishig i stick to charts when i have real solid confirmation,at this time multiple scenerio is working i.e no clear direction. beside this volatility is not givng me the time to upload charts. like yesterday when pog was 738 i told here that tgt is 750.The moment i upload the chart here it was already 746. so no point to post chart.btw Will try to post mine chartn asap.
thnx for asking.
Right now i m seeing some upside on the price patterns, but ew stopping me to look to the upside, so right now HuB(hand under bum), like jesse used to say about this market" It's better to lose the opputunity in this market then to lose money".
thnx for asking.
Right now i m seeing some upside on the price patterns, but ew stopping me to look to the upside, so right now HuB(hand under bum), like jesse used to say about this market" It's better to lose the opputunity in this market then to lose money".
Waiting Patiently
See the attached 15 minute chart of International Gold contract. I am not in trade. But watching the chart for learning.
Points to be noted
1. There is weakness in the background.
2. The horizontal support line is at 748.80. Already two attempts have been made to break it to the downside. Note that the last attempt was made with huge volume and that was a wide range bar and it also had wide range body. Clearly shows that bears have taken control in that timeframe.
3. It is all a matter of time and patience to enter a trade as soon as that support level breaks to make a quick buck. Once the trade enters in to profit move stops in the direction of trend and trail it until stop is hit. Initial stop would be at 755.
See the attached 15 minute chart of International Gold contract. I am not in trade. But watching the chart for learning.
Points to be noted
1. There is weakness in the background.
2. The horizontal support line is at 748.80. Already two attempts have been made to break it to the downside. Note that the last attempt was made with huge volume and that was a wide range bar and it also had wide range body. Clearly shows that bears have taken control in that timeframe.
3. It is all a matter of time and patience to enter a trade as soon as that support level breaks to make a quick buck. Once the trade enters in to profit move stops in the direction of trend and trail it until stop is hit. Initial stop would be at 755.
A quick update before winding off for the day.
An important lesson learned. Never jump in to a trade in a hurry. Wait until it is as per your setup. Patience is a virtue.
In my previous post I said I am waiting patiently for the break of 748 and I shall enter in the direction of the trend with a initial stop at 755 and later I shall move stop as my trade enters in to profit. What happened? You will be surprised to see the chart.
Remember I said I shall enter only on the break of 748. 748 did not break when I expected it to be. Instead it rallied to 763 initially and then it broke 748. What would have happened had I entered the trade before breaking of 748 in anticipation of breaking 748? My stop would have been hit and I would have ended in loss.
What would have happened if I entered the trade on the break of 748? I would be in profit immediately and I would have moved my stop to break even by this time.
Even though all this is a paper trade, nevertheless an important lesson is learned. I shall update this trade later. For the time being keep in mind that I am in profit in this paper trade and I have moved my stop to breakeven. What ever may happen hereafter, I shall not suffer any loss in this trade
An important lesson learned. Never jump in to a trade in a hurry. Wait until it is as per your setup. Patience is a virtue.
In my previous post I said I am waiting patiently for the break of 748 and I shall enter in the direction of the trend with a initial stop at 755 and later I shall move stop as my trade enters in to profit. What happened? You will be surprised to see the chart.
Remember I said I shall enter only on the break of 748. 748 did not break when I expected it to be. Instead it rallied to 763 initially and then it broke 748. What would have happened had I entered the trade before breaking of 748 in anticipation of breaking 748? My stop would have been hit and I would have ended in loss.
What would have happened if I entered the trade on the break of 748? I would be in profit immediately and I would have moved my stop to break even by this time.
Even though all this is a paper trade, nevertheless an important lesson is learned. I shall update this trade later. For the time being keep in mind that I am in profit in this paper trade and I have moved my stop to breakeven. What ever may happen hereafter, I shall not suffer any loss in this trade
Well here is the outcome. I am out of the trade with breakeven. Though it moved down lateron, it hit my stop and then moved down. See the picture. 748 level acted as resistance on the way up. Support becomes resistance.
The stop placement made by me in this trade is questionable. Initial stop was at pivot high, i.e. above 762. Thereafter it moved one way down (without any retracement) to 736 level. There was absolutely no lower pivot high so that I could move my stop lower. Further, you may remember that I had entered the trade on the break of 748. My profit was nearly 10 US dollars. When that was the situation, having initial stop of 762 still in place without moving it to breakeven was highly discomforting to me. I have been in these types of situations several times, where I was in deep profit and I did not move my stop to breakeven and the market turned back and eat away all my profit and still worse, I ended up with loss. Loosing profit is one thing. But turning a hugely profitable trade in to a loss making trade is another thing.
The stop placement made by me in this trade is questionable. Initial stop was at pivot high, i.e. above 762. Thereafter it moved one way down (without any retracement) to 736 level. There was absolutely no lower pivot high so that I could move my stop lower. Further, you may remember that I had entered the trade on the break of 748. My profit was nearly 10 US dollars. When that was the situation, having initial stop of 762 still in place without moving it to breakeven was highly discomforting to me. I have been in these types of situations several times, where I was in deep profit and I did not move my stop to breakeven and the market turned back and eat away all my profit and still worse, I ended up with loss. Loosing profit is one thing. But turning a hugely profitable trade in to a loss making trade is another thing.
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