Razor1Fish
Short

XAUUSD Gold Trend Continuation Map

FX:XAUUSD   Gold Spot / U.S. Dollar
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Currently we are in Wave 2 of the current downtrend in Gold , and made a short squeeze bulls trap, and likely now go further down. Expecting to make 3 more waves down. And I am targeting 1,100 on gold even though not trading that on margin account, because I am buying the physical gold as its going down.
Comment: I have added more physical at these levels below 1,200... great bargain buys...

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Good one :-)
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you are correct Razor about buying physical on dips, buying physical when coppock signals is a good way to catch value
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Razor1Fish iminlovewithscarlett
@iminlovewithscarlett, I am expecting a strong rebound from these levels.... just watch out for relevant news, already a piece of news was out yesterday, that Citi is considering exiting consumer credit card business. It seems like the default rate among consumer market has reached to its peak, and going forward, the consumer credit market is about to blow up...
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what's your settings for EMA? 15?
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Trading on margin account is profitable than buying physical gold..Right?
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@mkandy, If you dont know the difference, you shouldn't be asking in the first place, do your research :-)
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mkandy Razor1Fish
@Razor1Fish, Did some research earlier..systematically adding small quantities on dips will be OK I think (margin account)...buying physical gold and keeping is safe but returns are minimal...whats your view on this?
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@mkandy, if you can maintain very small positions step by step in terms of buying on the dips without freeking out on the losses starring at you, then its ok, and also it depends on your leverage, try to lower your leverage margin ratio to 20:1 in order to maintain your drawdowns for a very long time, as well as adding more on the dips, in case the prices move down aggressively...... The whole idea of Physical buying on the dips rather than margin account is that, the key success factor to any trade is on the buying side and not on the selling. If you master the buying you will be a winner day one. In other words, when you master the buying art, you will know that, when you buy you are already making money, and you dont care about losing, because you will never lose. To achieve that objective, physical gold, you can never lose unless gold vanishes or become irrelevant which it will not.... On margin account, 200-200 pips can wipe out your account, on physicals, you can buy aggressively at the bottom and average out your Break Even much quicker. On top of that, Physical gold acts like a collateral to raise cash any time you want. Plus, in case Fiat Currency devalues for any reason, you will rise on the top of the crowd as a real winner while everyone will be suffering, because , Gold will never depreciate over time, yes it can devalue a bit, but will never die, and over longer time period it will always trend up....
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mkandy Razor1Fish
@Razor1Fish, Thanks for your detailed explanation. Now I'm understanding the scenario. If buying physical gold means coins or bars will be the option right? Thx for your time...
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@mkandy, only bars, coins are more expensive, they add more premium, not worth it... if you can get coins at the same price of bars, then its fine
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