[QUOTE=“Wibie G;613676”] As I said FOREXunlimited, it’s from a different system. Charts I upload here are only the results from the OHLC-based signals or anything related to them.[/QUOTE]
Ahh…gotcha.
Sorry, missed that part.
Thanks for the quick reply.
Have a profitable week!
You too… 
What to expect after Yellen’s Speech and the Major Drawdown of Gold yesterday?
Hope this article could give us some light… :45:
Marketpulse.com
Gold Technicals – Stable For Now Amidst Strong Bearish MomentumBearish momentum in Gold continue to roar as bulls simply can’t get a break. Prices was already bearish due to the surprising lack of military conflict between Russia and Ukraine even though Russia has successfully claimed Crimea on Russia’s map. Even a reported confrontation that left one Ukraine serviceman dead failed to spark anything more serious, and it is clear that Ukraine themselves are trying to avoid any military conflict at all cost, erasing all the premium in Gold that has been priced in earlier when market was afraid a war may break out.
Unfortunately, Gold traders have a new problem that they have to content with […]
Continue reading here.
Hey, thought I would post this to maybe give you some help with inside bars
So in the screenshot (H4) you can see a reversal IB, makes a pin bar when candles are blended, so if the lows breaks, we would sell as the daily is showing a bearish engulfing.
So, we got a few more IB’s, so I took the trade.
Final Tp was hit at the 261
You can also see price broke out of the trend line it was being held by giving further confirmation of a sell.
Cheers
Hi
What broker do you use?
As when I go on mine and see where you have 2 IB’s I only have one and it ended on it showing as a blue and not red as yours?
A gentle reminder to us all…
Cheers… :):44:
Pipsychology article
Top 4 Cases When You Should Sit on the SidelinesIt is said that patience is a virtue, but does this adage also apply to the fast-paced world of forex trading? Aren’t good traders supposed to be on their toes at all times, ready to pounce on the opportunity to make profits?
Contrary to what some might think, staying on the sidelines doesn’t necessarily mean that you’re a lazy trader. There are even cases in which sitting tight and refraining from taking any setups is a trading decision in itself. Here are the top four scenarios wherein it might be better to patiently wait on the sidelines instead of jumping in a trade:
Continue reading here.
I use a number of different brokers, but that is AxiTrader.
NY Close charts of course.
Cheers
Adam
Today’s Signal ( 20/03/14 )
BUY STOP
OP @ $ 1329.32
TP @ $ 1345.36
SL @ $ 1313.27
GPpL @ $ 1604.00
GLpL @ $ 1605.00
RRR: 1 : 0.99
GLOSSARY:
[ul]
[li]OP: Open Position
[/li][li]TP: Take Profit
[/li][li]SL: Stop Loss
[/li][li]GPpL: Gross Profit per Lot
[/li][li]GLpL: Gross Loss per Lot
[/li][li]RRR: Risk Reward Ratio
[/li][/ul]
END RESULT & COMMENTARY (if any)
TP has not been hit. Trailing Stop has been hit
When I saw a Reversal Pattern after US News (20/3), I decided to move my OP from the original $1329.32 to my trigger level $1327.32. TP and SL stayed the same.
It’s been a long time since it took 2 days to getting close to TP level. And unfortunately the TP (i.e. $1345.36) has not been hit until end of market (21/3). Instead, it hit my Trailing Stop (i.e. $1333.97).
Why didn’t the Price hit my TP? Exclusively looking only at the OHLC system, one hypothesis that I could think of is that:
If the RRR (Risk/Reward Ratio) is less than 1.00 (i.e. even it’s only 0.01 lesser like this trade showed), then the probability for the TP not to be hit increases considerably. In other words, it cannot be considered as an HpS (High-probability Setup). Hence, it’s best to be avoided.
Come to think of it, I used to only take trades with RRR between 1.00 and 2.00 because I was afraid the TPs won’t be hit if they’re bigger than 2.00. But, looking at previous trades, I learned that if the Signals (assuming all other conditions in concurrence) are on the same direction with the Major Trend and the Trend has also been strong, it’s still an HpS that I should take. I think it’s quite a common sense and I would bet my money on such trade (i.e. a Signal with RRR > 2.00).
Note:
As far as I know, RRR is not part of trade considerations in the original OHLC system by its inventor. But I factored it in my HpS for the sake of applying proper Money Management. That is I only take trades with RRR of 1.00 or above so in long term I can sustainably grow my account. This is what professional traders also do in growing their accounts. A number of them won’t even take a trade with RRR less than 2.00.
Nonetheless, always say ‘Alhamdulillah’ for whatever Allah grants us, i.e. the Profit and for the Learning. :21:
VISUAL RESULT
Till Next Signal, Dear Viewers… :):44:
What do Key Players think will happen next week?
It would be beneficial to find out each prediction’s reasoning in the rest of the article. See which one you believe the most .
Cheers and have a great weekend all… :):44:
Kitco.com article
Survey Participants Have Mixed Views Regarding Gold’s Direction Next WeekParticipants in the Kitco News Weekly Gold Survey are split over their views on gold’s direction for next week, with a nominal number expecting weaker prices.
In the Kitco News Gold Survey, out of 33 participants, 18 responded this week. Six see prices up, while eight see prices down and four see prices trading sideways or neutral. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.
Continue reading here.
Note:
I won’t rely too much on the percentages, regardless of the sample base is small (n < 30) or enough. They’re only Predictions after all. Just because the Majority pick, say, ‘Bullish’, don’t mean it’ll actually be ‘Bullish’ next week.
Moment of Truth…
It’s either Gold will create a Double Bottom in H1 (21/24-03-2014) or go further down…
See what happened in the last Double Bottoms (07/10-03-2014)…
Hi! I want to ask what effects the xau/usd ? When I hear good news for dollar, eur/usd goes down but xau/usd goes up and down all the time! No matter what are the news for dollar. So, where I should give my attention for this cuple?
hi guys…
what happen this thread…its dead…?
Hi Areti, as the thread owner, I must apologize for not responding to your query sooner. FYI, this thread as a journal of my trading results has been closed long before your question above.
Responding to your question, I would classify the factors that influence XAU/USD into 3 groups, as follow:
Scheduled Economic Data/Meetings, particularly in regards to USD. You could monitor it via Forex Calendar @ Forex Factory. Occasional influence could also happen from EUR & CNY. For CNY, it’s because China is currently the biggest Physical Gold Buyers; been the runner up for the longest time. The correlation is negative, meaning if, say, US Data is getting better often the XAU/USD price will fall and vice versa. I monitor them via www.forexfactory.com/calendar.php
Unscheduled Economical/Political/Military Events that involve Major Buyers & Sellers of Gold, namely USA, China, India, and Russia. In recent times–as happened before, this also includes Stock Volatility in USA which also contribute to XAU/USD Volatility. The idea is there is a negative correlation of volatility also between Safe Haven Asset like Gold and Risky Asset like Stocks.
Purely technical. I suggest you pay attention on Support/Resistance of Daily Fibonacci levels and Daily SMA 50 & 200 as they seem to be used heavily by the big dogs of XAU/USD traders.
Hope those three points could give you some ideas on what affect the price movements of XAU/USD. However, what I mentioned above are just TENDENCIES. Hence, by no means they will guarantee a certain direction of the metal’s price because after all price movements (supply & demand) involve very complex mass psychologies. There’s always elements of surprise every now and then.
Wishing you all the bests with your trades.
Cheers.
