alex.a

XAUUSD breakout trading

FX:XAUUSD   Gold / U.S. Dollar
299 27 0
Breakout trading from triangle.
nice observation
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My prediction was wrong. It didn't reach 1340s. This chart is credited to Mr. Puerto. Although a lot of things aren't enough -
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it was not wrong. You had direction, when many were thinking of a pullback. Good job!.
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alex.a fxtrader66
also, I still don't know (1) when and where to enter with (2) how many lots.
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After 3 hours or so, it has finally reached. 1343.82. But the things is I didn't make a single penny with this because I didn't follow.
Next time, I should follow what I did. Rule No. 1 Follow your scenario.
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most likely if you were not in the trade before it ripped, its hard to to catch the initial breakout, but price always pulls back to let you on, heres a strategy i use in fast moving markets. from the low befor the breakout, fib from low to high and look for the pullback to the 23.6 or 38.2, once support is noticed at one of the fibs enter with good rr. I use a (34ema wave). I dial down to a 1 min chart and when the 34 ema wave is in confluence with a fib level and the momentum is up I enter with a stop under the recent 1 min swing low
snapshot
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alex.a fxtrader66
I don't understand exactly due to low sugar but I will think through and acquire all you wrote.
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For the 34 ema wave google - Raghee Horner 34 ema wave -
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alex.a fxtrader66
Thanks - Next time perhaps we can bounce up and down together with profits. Perhaps on Friday, durable goods day??? I will study without fail. ^_^
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I think the week is still you and there are more pips to be made before friday. This is what I am looking at. if the gold can hold 1339 than its a long, if it brakes 1339 than I am looking at lower support to buy a bounce. I think it will pullback since gold traded its 50& fib HWB from aug highs to last weeks low, would expect some reaction here.
snapshot
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fxtrader66 fxtrader66
week is still young plety of pips to be make long and short
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alex.a fxtrader66
So, you see the trend has finally averted to "long." What's HWB?
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half way back from high to low. Yes the trend is up, moment is up, so I believe gold will continue to go up. Look at a 4 hour chart, higher higs and higher lows.
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alex.a fxtrader66
Side question, what is YTD? I got twitter "NEW YTD highs in EUR.usd. time to clean up the charts."
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ytd = year to date = euro at new yearly highs...
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alex.a fxtrader66
I see.
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good chart, but i expect that it will hit today 1362 (and perhaps 1380)
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alex.a Serkan G
In my opinion, jobless data would be good. Not bad so it will pull down as you predicted. But tomorrow Durable Goods will raise?? So, I think you chart is much better. My chart is outdated. Perhaps, closed.
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alex.a Serkan G
Also, please remember the data of non-farm payroll has some inaccuracy and pre-GDP also includes those inaccuracy. So, it will go up as the data says but a lot of people are saying not 100% reliable - But remember, market is not logical. Go with the trend -
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if gold does pop, it could produce another range of a 1000 pips or more?? Another thought, gold breaks the 61.8 from aug highs to last weeks low, price could pull HWB
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alex.a fxtrader66
Perhaps, tomorrow at Durable Goods - Can we all go to the Chat (Forex Talk)? (May I ask this?)
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alex.a Serkan G
I am in the Forex Chat room. Please join -
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where is the forex chatroom?
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alex.a fxtrader66
In the right top corner "-->" Arrow image
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i do not see it.. plus have to keep an eye on my charts NY open coming up.. i will figure itout ltr when market slows down a bit
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alex.a fxtrader66
Good - Later ~ See it went down. But, I don't know the next data. Manufacturing PMI. And Home Sales.
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alex.a fxtrader66
https://www.tradingview.com/chat/#forex Just click this, then. I know the image is not clear to be identified as a Chat.
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