Author Topic: Gold Trade Idea's  (Read 2411 times)

Leebax

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Gold Trade Idea's
« on: January 27, 2021, 02:54:38 PM »
Its been a while since i looked at GOLD . I was stopped out in profit on the last position i took but havent looked back at it since. There’s a couple of idea’s that i would like to take, one is near the current support zone we’re almost at. If it finds support around there then i would be taking the buy, if it breaks i would look to the next zone where it totally reversed last time it visited. Naturally if these zones break then it could be a strong bearish trend and then i would look for the sell as shown on the chart. Remember dont just blindly enter .wait for the signs of support or resistance forming. GLIYF

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LuckyMac

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Re: Gold Trade Idea's
« Reply #1 on: January 27, 2021, 03:41:26 PM »
I love trading Gold so much been too hard to trade recently. Good to see some set ups coming back

sebking1986

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Re: Gold Trade Idea's
« Reply #2 on: January 27, 2021, 03:43:54 PM »
With USD beginning to regain some strength I think a return to bearish movement is most probable. Nice set up and will be watching and waiting for the right moment. Gold can be a cruel mistress so have to be spot on with it.

BWS

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Re: Gold Trade Idea's
« Reply #3 on: January 30, 2021, 09:48:31 PM »
From what I've seen online today it appears that there has been a lift in gold buying.
Not too surprising with how stocks performed towards the end of the week. I also think there is still dollar uncertainty, which again could boost gold.
Certainly one worth watching
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PipMeHappy

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Re: Gold Trade Idea's
« Reply #4 on: February 16, 2021, 02:00:40 PM »
selling the hell out of Gold


PipMeHappy

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Leebax

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Re: Gold Trade Idea's
« Reply #6 on: March 04, 2021, 09:38:22 AM »
Last time on Gold we had just created the small supply zone , which proved to be quite a collective area for sells, as price has pushed down strongly since. You could of actually sold from there and made some good profits but that wasn’t on my radar. We currently find price sitting in the monthly demand zone . I’m looking for price to accumulate here and possible buy off the trend line for a push back up to the big down trend line above. The back up scenario is if price was to push through for more continuation to the downside. Wait for the break and retest on that setup. GLIYF
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BWS

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Re: Gold Trade Idea's
« Reply #7 on: March 04, 2021, 02:36:46 PM »
I like gold, although not currently trading it.
Its much more predictable in its movements, although it does have it moments when it flies. First half of last year it soared from $1600 to $2000 before nosediving back down to $1700. Where it goes next is, imho, largely tied to the USD and covid recoveries across the West, China, and Japan. The stronger the recoveries, the lower gold will go.
"I wouldn't say I'm the best manager in the business, but I'm probably in the top 1" - Brian Clough

Leebax

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Re: Gold Trade Idea's
« Reply #8 on: March 08, 2021, 10:05:29 AM »
Good morning all. The new week has begun, GOLD has reached my favored area of interest for a buy. We can get a fairly tight top loss here on this setup. Price is currently in a monthly demand zone and we have also met the trend line for a multiple confluence entry on this position. As always only use 1% max risk on any position. Because price could quite easily drop further below and confirm a longer bearish movement for which my bias would change to a sell. Fairly easy trade this one with 1:6 R:R. GLIYF
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eddieb

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Re: Gold Trade Idea's
« Reply #9 on: March 08, 2021, 03:56:37 PM »
All the indicators suggest Sell, not that I'm a great follower in indicators, but I subscribe to BWS's thoughts that a strengthening dollar tends to push gold prices lower
Disclaimer. Posts are just my thoughts,  not recommendations.  Do your own due diligence before trading

Leebax

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Re: Gold Trade Idea's
« Reply #10 on: March 11, 2021, 09:30:59 AM »
Good morning all, Just a quick update today on the Gold buy we took on Monday. We are currently sitting in just over 480 pips in profit on this trade. But we need to keep watch for price action when it comes to the downwards trend line . There's a possibility that price could make a lower high and continue in the bearish trend . That's the vital part for this trade, if we don't break through then we take profit, if we manage to break through then we can continue to hold until we meet supply. GLIYF
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Pipstar

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Re: Gold Trade Idea's
« Reply #11 on: March 11, 2021, 02:35:29 PM »
Im puzzled. Everything I have read about gold today (the latest one was only posted 30 mins ago) talks about it going up for the 3rd day in a row, but at the same time the price is actually slightly down
Maybe its just timing and price will move up again later

Mr T

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Re: Gold Trade Idea's
« Reply #12 on: March 13, 2021, 02:37:22 PM »
Good morning all, Just a quick update today on the Gold buy we took on Monday. We are currently sitting in just over 480 pips in profit on this trade. But we need to keep watch for price action when it comes to the downwards trend line . There's a possibility that price could make a lower high and continue in the bearish trend . That's the vital part for this trade, if we don't break through then we take profit, if we manage to break through then we can continue to hold until we meet supply. GLIYF


Nice pips Sir!

Leebax

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Re: Gold Trade Idea's
« Reply #13 on: March 17, 2021, 05:16:45 PM »
Good afternoon all. Little update on the Gold trade I took. Currently 340+ pips in profit on this setup. The trade is currently set to risk free so we cant lose anything on this now. I've included the other time frames so you can see another reason that backed up my buy option, we broke above the previous supply area and price came back down to demand and the trend line . Lovely setup in my books. Would be great if we could visit the supply zone above. Keep holding for now, will update again when we get some good directional movement . GLIYF
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eddieb

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Re: Gold Trade Idea's
« Reply #14 on: March 17, 2021, 07:27:09 PM »
I would imagine the current US-Russia tension would send some buyers away from the greenback and into gold as a safe haven't.
Fingers crossed for you, looks like a lovely trade 😊
Disclaimer. Posts are just my thoughts,  not recommendations.  Do your own due diligence before trading