MetalCruisers

GOLD / Flyday part2 ? / Bears feed bulls?

FX:XAUUSD   Gold / U.S. Dollar
Hello guys!
At this point it got very tricky!
Today I will trade only on Transitions.
The way how levels are dislocated is suggesting more a buy setup than sell.

I think we will come back to 1269 ( buy transition ) and maybe we will look for buying there and continue Flyday!
Depends on what Transitions will tell!
Let's see how it develops!
I am in Short position from 1275.
Comment: Why I think that we can have a buy from buy transition is because sell transition - TP is higher than Buy transition, representing strong daily swing level!
wave 5 reversal zone is there as well. Because if Buy transition broken downwards, we will enter panic selling daily swing! Let's see guys! But now it is really tricky!
Comment: Actually, as you can see it broke 1274 transition downwards, if it now goes up and retests it right after opening, we could have a flyday downwards. If it goes down, on opening it can be a confirmation that we would look for buys!
Comment: We opened below Market Heading Point.. hmmm.
Comment: I think we reach Sell transition 1274.9 first. And then decide from there!
Comment: I feel exhausted and falling asleep, but I'll stay awake so we can catch a trade guys so u can hopefully make some buck!
Comment: So we reached Sell transition just like I reckon! Now let's see will it go for a break, what I doubt,because it have levels downwards that it should reach, or turn around and go to buy transition like I would want to see it happening!
Comment: I am very confused guys! I am afraid to give you bad trade call. For now everything goes like I reckon. We touched Sell transition, it can be counted as a sign that market has no business here anymore! BUT, other levels are confusing me!
If this get's to buy transition like I said I want to, we will have to decide what to do here! Please be carefull and trade according to your plan, if you have no plan and u want me to do work for u, then please bear with me today! I will give only 100% confirmed signal, if I get one!
Comment: Guys, careful with calling this a " bear buss ".. just saying. At the given moment with the given levels and setup it is not looking so bearish anymore! Anyway, let's see!
Comment: I am doing analysis to confirm this, but for now seems gold did everything to delete signs about upward movement. There is no Confirmation yet, but if that confirms, market deleted all signs that it wants to go up, and it can be temporary TOP for now again. I will do deeper analysis to be sure. If so.. 69 on table!
Comment: Hey guys! Sorry... I was not able to stay awake... I was like a zombie lol.. But today seems is very booring! So let's pass this day and see what's going on for tomorrow.
But atleast market did what I said, came down from transitions to buy transition! Buy transition is broken downwards and tested by the way. It can drop now, but pls stay away.. it is too slow and barely moves!
Trade active: I added to sells at 1268.8 once it broke buy transition tested it. Let's see how it works out!
Trade closed: target reached: Daily swing target 1264 reached! I advise you to close the shorts! Seems powerless to go further down! As always guys! Dont be greedy, lock the profits! Thank you for your support! This was a tough call.. Yesterday I got burned saying this is going more up and that it will not even make to buy transition! lol

Happy to work with you! Let''s see what NY close gives us for tomorrow!
Cheers!
Comment: With this close price Gold will be leaving Sell setup tomorrow! Let's see what the NY close will be. But seems our new Entry would be around 1268.
Let's see!
Given the inverse relationship with the dollar for most time lately and that the dollar seem to be consolidating for a final leg up to about 100 area tells me we are going to see downward movement for tomorrow. Keep up the good work!
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Great going! i have sold at 1276.80 earlier today. As per fractals there was a 90min sell signal targeting 1271 which coincides with your buy transition. I would love to hold sell for a long term swing towards 1170/1160 but not sure if Gold is going higher into 128x - 129x. Let me know your thoughts. Thanks again
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im on duty tonight. no sleep..
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im in bear buss too. today will be painfull
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Keep it up with your good analyst!!
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do u mean that there is nothing else support or resistance which is need to be tested? :(
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These are not res / sup that I use..
And yes, for now seems gold deleted signs, and if drops down from here.. it is not obligated to come back to these levels then. Let's see tho.. no clear confirmation.
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i think, its does not volenteer to drop sharply and will swing in a small range until new US datas announcement time today afternoon
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You were absolutelly right.. it barely moved! lol
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what is your type of trading anyway? you give a call for scalping? intrday or swing?
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allanrcferreira saint_athur
It is a daily trading analysis.
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Swing trading
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Hi man! If signs disappeared, that is a sign that something will happen, or no... maybe a strong rally?
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MetalCruisers PRO allanrcferreira
No its just a sign that market is not willing to go up!
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Wow. So nicely done!
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Thanks
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Thank you, you are the best!!!
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Thanks
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Thanks TP (giving us your name would be nice btw). Quick question. Do you favour a particular timeframe to look for tests of the transitions?
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I use 1 min chart for that.. and sometimes when it is confusing.. - tick chart ( second graph ) to spot test backs.
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My name is, Bruno
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Marvin MetalCruisers
A 1 min chart huh! That low! Can it be trusted? Obviously you think so. Ok, thanks Bruno.
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He.. explain me bro how are you gonna spot test backs of transitions on higher TF? It is very vital!
You can use higher TF and fail hard.. thinking that transitions was broken but not tested, and waiting for it to come back FOREVER to test transition but it never will.. because it already did that... ( to spot that you need smal TF )
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Marvin MetalCruisers
Understood. Cheers.
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I think your transition logic works fine for the most part, but I feel you should be including the daily pivot calculus in it to create a buying/Selling area instead of what seems a single point. It's been many times now I've beaten you in profits by waiting a few more minutes beyond your transition and waiting for it to also tag the daily pivot.

Also, no system will ever be 99% right. If you are even constantly more than 50% right on average with always 1.5:1 risk ratio, then your system will make you plenty $$$.

Keep up the good work and as you say, never stop learning and improving.
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RamzaBehoulve RamzaBehoulve
Keeping an eye for the daily 200 SMA and EMA also seems to be a good idea because while your transitions are king, those can fuck them up in a few instances.
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RamzaBehoulve RamzaBehoulve
Not cirticizing or trying to compete. Just giving my observations after following you for about 2 weeks and combining your logic with mine.
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MetalCruisers PRO RamzaBehoulve
It's all good. We all are different and use different technique!
Take care.
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Bruno, thanks a lot to share your work with us. I am combining your ideas with my strategy, and I am very happy with the results.
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thank you bro..
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Well done dor today TP. U r Great
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what do you mean with "..leaving sell setup"? did u mean that it will long
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sell tomorrow.
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rushiparikh MetalCruisers
I agree, the pattern looks like we are going to resume our downtrend tomorrow for another leg down on Gold towards 116x
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