Wibie G - GOLD DAILY TRADING SIGNALS (XAU/USD)

Sure sir, it will be great if I can write to you and I tried already but there is a notification tells me that I need to post at least 20 before I can send a direct message to you, hehe no worries I have to wait until I have 20 post…

Alhamdulillah, our TP is hit again after NFP figure published was lower than expected (bullish effect for gold). But because there was a conflicting data from Unemployment Rate (bearish effect for gold), there was a sudden drop first, before it spiked hard up hitting our TP. I didn’t take the trade. Again, because my trigger level wasn’t hit


Note: After the snapshot above, price went back down again. Similar pattern like yesterday (06/02/2014)

MY LEARNING FROM THIS TRADE:

If our TP hasn’t been reached and price waiting for 2 (two) or more High Impact News at the same time, there is a probability of contradicting price movement (read: highly volatile price reaction). Therefore, the proper tactic seems to keep SL at its Original Price Level prior to the news release, instead of moving it to BE, for example. Yes, there is a chance of Price hitting the SL first of course, but that is just the chance you have to take. So far, our signals have serve us right. We just have to have FAITH to Allah & Price Action for our TP to be hit first :51:

If there was only 1 (one) news we’re waiting and currently we’re in a floating profit, the sensible tactic would be to move our SL to BE, because the chance after the news is that the price would only go 1 way depends on the figures being released. Such example can be seen in our last successful trade last Monday (03/02/2014) when ISM Manufacturing PMI was the only High Impact News being released.

Cheers… :):44:

Greetings… I’ve been watching this thread for a while. And you did mention that you are using JacksonZones method. Unfortunately I couldn’t find any information about this method.

I have been trading some major currency pairs using my system, but never Gold, so after observing your trades, I decided to try my system on XAU/USD pair. It turns out that your OP is often the same as what my system would suggest.

So… i’m going to guess your next trade for monday here… (please correct me if I’m wrong)
XAU/USD : Buy @ 1266-ish

I don’t know how to tell where is the Take Profit and Stop Loss is. I usually set a 200pips profit and a 100pips trailing stop.

Hi plasticbird,

Good luck with that guessing… :5:

hi sir Wiebie, I try to pull some lines in the chart 4 hour and also I try to read the price movement with the volume characteristic.

I am not sure but is it the price action strategy have relation with the volume characteristic? I found out some volume pattern with some candles formation have the repeat pattern often. Not sure though…

I read Plasticbird post and I feel I have the same feeling too about the price will go down first maybe to 1.265 and then continue to move up…1.275 even though I do not have any system yet but only try to read the price movement from the volume and candle formation…

Please advice.

Guys,

Please respect my fortitude for not exposing the details of my system.
Nothing personal but I will no longer respond to this type of queries. :54:

Thank you for your kind understanding. :):44:

sure sir, I respect your privacy…I am sorry if I have been asking too much for a newbie, but can I ask some advice like my last post here or I am not allowed to ask that kind of question?

Hi Smurf, I’ sorry. I just recovered from a fever in couple days. I misunderstood your post. Still, no excuse.

You were asking whether combo of price action and volume analysis can predict price movement? I’m aware that there are analysts who use that. But, it would be a lie if I tell you I’m a know-it-all trader who can explain that to you, because I can’t. There are many free sources in the internet regarding the subject that you can explore.

What I can tell you is that, to build a system of your own you need to have sense of creativity and imagination. But since you don’t decide how the price of a particular pair moves, your challenge is to match your creativity with the Price Action of that pair. In other words, a successful system for a particular pair doesn’t always mean that it would also be successful for another pair. If it doesn’t, either you abandon the system all together or tweak the system. Of course, you could also borrow ideas from various sources of free trading strategies to perfect your own strategy.

If I remember correctly, I’ve back tested a type of volume analysis. This analysis was claimed to be very good for EUR/USD but I wasn’t happy with the results for XAU/USD, so I abandoned it. Having said that, however, if you could develop a volume analysis that is suitable to XAU/USD then by all means use that system if you believe it has high probability to succeed… :wink:

[B]ADDENDUM of MY POST #1 [/B]

  1. In [B]“INFORMATION”[/B] section, point no. 1, about JacsonZones Method, I now state that, [I]"…; I won’t respond to queries regarding this subject."[/I]

  2. A new section below [B]“DISCIPLINES:”[/B] is [B]“MY TIME OF RESPOND TO ANY QUERIES”[/B], in which I now state, that, [I]“If you post your query on the weekends, there is a high chance I won’t respond to it until next weekday. I like to keep my trade-life balance to be in good balance. Please help me in achieving that. By doing that, you also make yours in good balance too. If you post it during weekdays, I’ll try to respond to it as soon as possible.”[/I]

Thank you sir for your reply and I understand completely for your new terms :slight_smile:

Can I still watch your prediction while I will keep learning to find a good trading system for me in the future?

And if I have any ideas about what position that I want to enter to market and want to discuss it with you is it still okay for you?

sir Wiebie I hope you are doing fine and get well now, I really am appreciate for your kindness to reply me and all people here in the forum and your kindness to share your knowledge here.

No worries if you find me that I am asking something is not good for this thread or any solicitation just tell me straight and I will stop doing that hehe.

Dear Viewers,

I mentioned I haven’t feel well this past few days. I still haven’t feeling well today. Please pray for my recovery. Thank you.

After collecting my strength this morning, I checked the figures . The result is there is no HpS for today. Meaning, no trade signal from me today.

FYI, I won’t be online after this for the rest of the day.

Cheers :):44:

Get well soon Wibie! Best wishes for your speedy recovery.

Get well soon mate hope you get back on your feet in no time!!

First thing first, thank you to all my friends here for your prayers and best wishes… Am getting much better now… Sincerely thank you… :7:

Let’s get down to business now. We discussed last week about triangle candlestick pattern which we interpreted as a continuation pattern for a bullish mid-term trend. Yesterday (Feb 11, 2014), Price went up as the pattern suggested. I think price can still go further up today but probably limited to around 1281 only…

As per my signal, no HpS again for today I’m afraid. So, no signal again for today.

Have a nice day all… :):44:

I had a small trade on XAU/USD today, but took profit quite early as did not think the gold price would actually go past 1282.

To my surprise it has gone almost to 1287. Not bad but the set up for me was not one of the best.

I am trading on a different strategy though but this takes longer for me to get my opening price triggered, I sometimes wait a week for my order to trigger.
So when you came along it does help if I take these trades too as then I get an extra bit on the side and I am almost sure no one here minds a bit of extra :slight_smile:

Otherwise hope you are having a great day guys and Wibie hope to see you back here soon again.

Hi Icecube, I’m glad that you can benefit from it too… :57:

Today’s Signal ( 12/02/14 )
Valid until 06.00 AM two trading days from now. (GMT+7)

SELL STOP
OP @ $ 1291.02
TP @ $ 1280.95
SL @ $ 1301.09

GPpL @ $ 1007.00
GLpL @ $ 1007.00
RRR: 1 : 1.00

NOTE :
• Glossary:

  • OP: Open Position
  • TP: Take Profit
  • SL: Stop Loss
  • GPpL: Gross Profit per Lot
  • GLpL: Gross Loss per Lot
  • RRR: Risk Reward Ratio
    • For first timers, please read my post #1 here to see the information about me, my signals, and my disciplines. For regulars, kindly also check it every now and then as a reminder. I may also have made a number of revisions after.
    • Please read the DISCLAIMER below.
    • To protect capital, it is advisable to trade only with the STOP Pending Order, with tactic as follow:
    (a) Current Price is AT LEAST 200 pips BELOW the OP (for a Buy Stop Order); or
    (b) Current Price is AT LEAST 200 pips ABOVE the OP (for a Sell Stop Order)
    • Put all three price levels in AlertFx.com for convenience. (Registration is FREE)
    • Good or bad past performances of the past are no guarantee of good or bad performances of the present and the future.
    • Risk LESS THAN 3 % of Today’s Equity. Place trading at the Lot Size that represents that Risk level.

DISCLAIMER : Transactions in Forex Trading have risk and have the same potential between losses and gains. All of your transactions are fully your own responsibilities as a Trader and / or the Owner of your Capital.

Have a nice day. :):44:

Please note that a correction has been made for Post #138 above regarding the OP, TP and SL figures. I apologize for the inconvenience.

Nice to see you again. I hope you’re feeling better now.