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

Hi Almaszhr, you too…:5:

sir in XAU 100 pips is calculated how?

Hi Smurf,

My broker uses 2 decimals (e.g. $1291.02). Hence, my 1 pip = 0.01 in the chart.
So 100 pips distance, say, above $1291.02 for me would be $1292.02.
Hope that clarifies.

Okay I get it now, thank you sir. wow in XAU that pips move very fast yaaa :slight_smile:

Greetings…,

I hope you are already feeling better Wibie.

So, just to be clear, right now you are waiting for the price to go up to 1293.02 (200 pips above your Open Position) and then you place your sell stop order ?

lets say that the price do go up to 1293.02 or higher, why don’t you just place a Sell Order at 1293.02 or higher?, instead of Sell Stop at 1291.02

thank you

FYI, Smurf…
I missed to mentioned in post above that 1 pip ($0.01) in XAU/USD only equals to US$1 real money with 1:100 leverage…
While, as you may already know, a typical forex pair is typically worth $10…

Hi Plastic Bird, I generally agree with your thinking. Yes, that is one strategy we can use. It will create higher RRR than the current 1 : 1.00 for us.

200-pips-distance strategy is so that general traders can apply it in their trading. And for cautious traders too, which include me as well :).

If I were to apply your strategy, I would want to see [B]Reversal Candle Pattern[/B] first to confirm that after passing above 1293.02 it will return toward our TP again.

Hope that satisfies your curiosity.

sir Wiebie, can I ask your recommendation for broker please, should I start with Oanda or Alpari or any suggestion? I am asking this because I believe you have years of experience. Thank you :slight_smile:

Hi Smurf, that query is quite off-topic for this thread… I suggest you go to this group of threads in babypips.com to search for your answer… Cheers…

Okay, sure…will do that now, today I am resting due having bad cold, so I can be in front of computer now.

Gold has been quite bullish so far.

Reckon we seeing a new break out or will we get a pull back eventually?

Typically with gold, when SMA100 & SMA50 make a crossover in D1, we would see that pull back or retracement at least, Icequebe…

Our SL has been hit yesterday… Bullish momentum was met with 3 bullish US News for Gold…

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

SELL STOP
OP @ $ 1302.57
TP @ $ 1294.24
SL @ $ 1305.50

GPpL @ $ 833.00
GLpL @ $ 293.00
RRR: 1 : 2.84

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:

Got announcement from my Broker, today:

"Monday, 17th February 2014. Due to “President’s Day” the following products will be closed earlier than usual. Market for Precious Metals will be closed at 01:00 PM (EST).

Greetings,

Wibie, your Stop Loss level has been hit, do you suggest we still keep the trade or leave it ?

Hi Plasticbird… That’s why I prefer the 200 pips distance policy before placing my trade… :slight_smile:

To answer your question, I still keep my pending order on…

Greetings,

Okay, but based on what you wrote on your trading disciplines, a signal will expire if the Price touches SL…
I don’t mean to be nosy, I’m just trying to learn how to trade from your thread, which I have learned a lot…

thank you.

No worries. Thank you for the reminder. plasticbird.

If the Price presses on beyond today’s high (1307), I’ll close that order…

Cheers… :44:

FYI, I cancelled my pending order.

Now that I got permission to share links that are on-topic, non-subscribing, and non-buying…
Allow me to share this technical analysis for people who are wondering why the Bull keeps raging hard…

[B][I]Gold Technicals – Bullish Momentum Not Letting Up[/I][/B]

[I]It is very strange seeing Gold prices crossing the 1,300 mark. According to most analyst expectations, Gold should be trading lower and not higher as there is less need for the yellow metal as global economy start to recover. Need for inflation protection is also lower now given that US has already started tapering and is expected to do more of the same in 2014 until the entire stimulus purchase program is stopped. Certainly the decline in stocks seen in Jan has shaken risk appetite and has been one of the major contributor to current strength in Gold, but considering that US stocks have since stabilized and began to trade higher, we should have seen Gold prices falling slightly as well.

Continue…[/I]

Hope this could give us direction ahead…