Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

firewalker

Trade Discussion and Analysis

Recommended Posts

What we've seen in the last couple of days is a little bit on the unusual side, Wasp. Is it possible you will be over-complicating your proven strat solely due to unusual circumstances? Or are you looking for an addition/confirmer solely for these times of unusual circumstances?

 

Look at the att chart on a smaller TF. You can see that S/R on those did not got broken thus, negating the longs. The problem with the 240m chart is one pip too high or low with the S/R and you are screwed, and every time, it landed the wrong side.

 

240m stays paramount but I will not be taking positions based on 240m alone, I will want to see the ST S/R broken too.

 

I need to look into it more but it would stop these problems. Hopefully.

shorter.thumb.gif.34d56f96e5261c43c181e8340eba3268.gif

Share this post


Link to post
Share on other sites
PS: Maybe just switching to the daily frames when the daily range exceeds a certain level would suffice?

 

Ironically, I switched from dailies to 240m because of the range bound conditions!

 

The dailies made this obvious as I posted at the weekend but trade the 240m plan regardless!

Share this post


Link to post
Share on other sites
was anyone expecting that 200 pip 30min drop?!

 

Right. I am off to nurse my wounds as this has been the shittiest week of the summer for me and the best movement to rub further salt in the wound :frustrated:

 

its probably no consolation whatsoever, but even us indicator-freaks are getting nowhere fast.

I am actually switching to paper-trading until next week. (the very day GBPUSD sells off mega)

 

dont take it personally, but its a peculiar form of satisfaction that even you SupRes guys dont have it easy.

Share this post


Link to post
Share on other sites
I would expect some pushing and pulling around, then perhaps a retracement back to 208'ish before eventually reaching 204-205.

 

Price sure is moving fast... 204 is already here. Still no long signal in my book, but this was the target level for shorts. A push slightly through 204 with a fast comeback high would signal a long.

Share this post


Link to post
Share on other sites
its probably no consolation whatsoever, but even us indicator-freaks are getting nowhere fast.

I am actually switching to paper-trading until next week. (the very day GBPUSD sells off mega)

 

dont take it personally, but its a peculiar form of satisfaction that even you SupRes guys dont have it easy.

 

The HMA's would have been beautiful this week!

 

Its annoying for everyone I think, partly due to everyone so used to trading a range only to get hit by a trend we all dream of yet always miss out on!

 

Great day for the trenders though!

 

On Sunday I posted a daily chart expecting this break to cause a down move. Never did I expect this size of a move. Why? Because whenever I have done the same thing in the same situation, it has bounced then continued up!

Share this post


Link to post
Share on other sites

dont take it personally, but its a peculiar form of satisfaction that even you SupRes guys dont have it easy.

 

I think in this case it has more to do with the trader not identifying S/R correctly, instead of the market behaving strangely.

 

Fwiw, I know see a failure to make a lower low on support (on the miniscule 5minute chart that is). Going lower here is still risky but here is my papertrade: long @ 204.17.

Share this post


Link to post
Share on other sites
The HMA's would have been beautiful this week!

 

Its annoying for everyone I think, partly due to everyone so used to trading a range only to get hit by a trend we all dream of yet always miss out on!

!

 

Which reminds me of the trouble I had in July... June was extremely trending and I didn't except the NQ to stay rangebound for so long. We should've switched places then and back now!

Share this post


Link to post
Share on other sites

It wasn't the market this time. It was all me. I have no excuses apart from bad placement of S/R.

 

I have pulled the kitchen knife out of my hand and bandaged it up and away we go again!

 

 

 

Oh, and must stop playing with my nieces, posting shit on T2W to start arguments and stop trying to keep the No1 slot over there too.

 

-----------

 

As Mr Pink said to the others..............

 

''Both of you guys got ten years on me and I'm the only one acting like a professional.''

 

I'm NOT Mr Pink in this equation.

Share this post


Link to post
Share on other sites

Fwiw, I know see a failure to make a lower low on support (on the miniscule 5minute chart that is). Going lower here is still risky but here is my papertrade: long @ 204.17.

 

Keep in mind I know nothing of this instrument, and I would like to know what the average movement per timeframe is, but I'm placing below the low of that the lowest bar, which would be about at 203.95.

Share this post


Link to post
Share on other sites
Keep in mind I know nothing of this instrument, and I would like to know what the average movement per timeframe is, but I'm placing below the low of that the lowest bar, which would be about at 203.95.

 

At the moment, I'd say don't ask me! but, at the moment, I would bbe looking for 204 to hold, if not........................??

Share this post


Link to post
Share on other sites
It wasn't the market this time. It was all me. I have no excuses apart from bad placement of S/R.

 

Bad S/R placement has caused me a whole lot more trouble than you can imagine! smbtnt will confirm as well...

 

Oh, and must stop playing with my nieces, posting shit on T2W to start arguments and stop trying to keep the No1 slot over there too.

 

Especially the last part :o

 

As Mr Pink said to the others..............

 

Check out 'Interview', he's good there as well.

Share this post


Link to post
Share on other sites
At the moment, I'd say don't ask me! but, at the moment, I would bbe looking for 204 to hold, if not........................??

 

Well it looks like I was a bit premature (rarely happens ;))

 

It's still a potential shakeout if we climb back above 204.

 

A push slightly through 204 with a fast comeback high would signal a long.

 

203.85 and right back up to 204. I need to listen to myself more. The plan was to wait for this to happen, then go long on confirmation if price goes back above 204. It has yet to do that, so my trade was not according to plan!

 

Anyhow, with 45 minutes till US markets, I'll better start focusing on my own instruments instead of messing around elsewhere.

Share this post


Link to post
Share on other sites
Anyhow, with 45 minutes till US markets, I'll better start focusing on my own instruments instead of messing around elsewhere.

 

Yes, I think we find it all too easy to become distracted and not concentrate on what we are doing. (T2W, taking the piss out of Belgium, looking at other markets).

 

Come on chaps, bit more professionalism.

Share this post


Link to post
Share on other sites

These support/resistance lines are all valid to me, Wasp. The problem as I see it is that the momentum down is just horrifically strong and is causing them to tumble like dominoes. I don't think it's a problem with your strat.

 

Time to go to paper until this thing settles down.

Share this post


Link to post
Share on other sites
These resistance lines are all valid to me, Wasp. The problem as I see it is that the momentum down is just horrifically strong and is causing them to tumble like dominoes. I don't think it's a problem with your strat.

 

Time to go to paper until this thing settles down.

 

I see problems with some of my levels and I think I had too many and there importance had waned yet I kept them regardless.

 

Removing some which held little strength at the most recent areas (despite their strength prior) would have meant more success.

Share this post


Link to post
Share on other sites
I see problems with some of my levels and I think I had too many and there importance had waned yet I kept them regardless.

 

Removing some which held little strength at the most recent areas (despite their strength prior) would have meant more success.

 

There is no way to predetermine their effectiveness, is there?

Share this post


Link to post
Share on other sites
There is no way to predetermine their effectiveness, is there?

 

There are/were levels which had been of importance but the last time price was at said level, it was of no importance. Those levels become less of use and can be removed. as they are no longer S or R.

 

Attached are the 2 variations.

old.thumb.gif.14063b52bc90970d3904bf9d6322a573.gif

new.thumb.gif.59ea4729a0c502733d09be86e7a260c5.gif

Share this post


Link to post
Share on other sites
There are/were levels which had been of importance but the last time price was at said level, it was of no importance. Those levels become less of use and can be removed. as they are no longer S or R.

 

Attached are the 2 variations.

 

I took a look at both versions, and they appear to be identical to me?

Share this post


Link to post
Share on other sites

I can see the changes now. I was seeing the same file before, but now it's different. Maybe you changed it? Or my browser crapped up. No matter. I can see the differences now. Thanks.

Share this post


Link to post
Share on other sites

I still cannot believe what I am seeing; the possible profits, and knowing I missed the lot! (and bought into it losing money instead!)

 

It should have been the best week of the year and I should be on the phone to my travel agent ffs!

wow.thumb.gif.734f16bf5f51655851460acc9b5a0ec3.gif

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 3rd April 2025.   Gold Prices Pull Back After Record High as Traders Eye Trump’s Tariffs.   Key Takeaways:   Gold prices retreated after hitting a record high of $3,167.57 per ounce due to profit-taking. President Trump announced a 10% baseline tariff on all US imports, escalating trade tensions. Gold remains exempt from reciprocal tariffs, reinforcing its safe-haven appeal. Investors await US non-farm payroll data for further market direction. Fed rate cut bets and weaker US Treasury yields underpin gold’s bullish outlook. Gold Prices Retreat from Record Highs Amid Profit-Taking Gold prices saw a pullback on Thursday as traders opted to take profits following a historic surge. Spot gold declined 0.4% to $3,122.10 per ounce as of 0710 GMT, retreating from its fresh all-time high of $3,167.57. Meanwhile, US gold futures slipped 0.7% to $3,145.00 per ounce, reflecting broader market uncertainty over economic and geopolitical developments.   The recent rally was largely fueled by concerns over escalating trade tensions after President Donald Trump unveiled sweeping new import tariffs. The 10% baseline tariff on all goods entering the US further deepened the global trade conflict, intensifying investor demand for safe-haven assets like gold. However, as traders locked in gains from the surge, prices saw a modest retracement.   Trump’s Tariffs and Their Market Implications On Wednesday, Trump introduced a sweeping tariff policy imposing a 10% baseline duty on all imports, with significantly higher tariffs on select nations. While this move was aimed at bolstering domestic manufacturing, it sent shockwaves across global markets, fueling inflation concerns and heightening trade war fears.   Gold’s Role Amid Trade War Escalations Despite the widespread tariff measures, the White House clarified that reciprocal tariffs do not apply to gold, energy, and ‘certain minerals that are not available in the US’. This exemption suggests that central banks and institutional investors may continue favouring gold as a hedge against economic instability. One of the key factors supporting gold is the slowdown that these tariffs could cause in the US economy, which raises the likelihood of future Federal Reserve rate cuts. Gold is currently in a pure momentum trade. Market participants are on the sidelines and until we see a significant shakeout, this momentum could persist.   Impact on the US Dollar and Bond Yields Gold prices typically move inversely to the US dollar, and the latest developments have pushed the dollar to its weakest level since October 2024. Market participants are increasingly pricing in the possibility of a Fed rate cut, as the tariffs could weigh on economic growth.   Additionally, US Treasury yields have plummeted, reflecting growing recession fears. Lower bond yields reduce the opportunity cost of holding non-yielding assets like gold, making it a more attractive investment.         Technical Analysis: Key Levels to Watch Gold’s recent rally has pushed it into overbought territory, with the Relative Strength Index (RSI) above 70. This indicates a potential short-term pullback before the uptrend resumes. The immediate support level lies at $3,115, aligning with the Asian session low. A further decline could bring gold towards the $3,100 psychological level, which has previously acted as a strong support zone. Below this, the $3,076–$3,057 region represents a critical weekly support range where buyers may re-enter the market. In the event of a more significant correction, $3,000 stands as a major psychological floor.   On the upside, gold faces immediate resistance at $3,149. A break above this level could signal renewed bullish momentum, potentially leading to a retest of the record high at $3,167. If bullish momentum persists, the next target is the $3,200 psychological barrier, which could pave the way for further gains. Despite the recent pullback, the broader trend remains bullish, with dips likely to be viewed as buying opportunities.   Looking Ahead: Non-Farm Payrolls and Fed Policy Traders are closely monitoring Friday’s US non-farm payrolls (NFP) report, which could provide critical insights into the Federal Reserve’s next policy moves. A weaker-than-expected jobs report may strengthen expectations for an interest rate cut, further boosting gold prices.   Other key economic data releases, such as jobless claims and the ISM Services PMI, may also impact market sentiment in the short term. However, with rising geopolitical uncertainties, trade tensions, and a weakening US dollar, gold’s safe-haven appeal remains strong.   Conclusion: While short-term profit-taking may trigger minor corrections, gold’s long-term outlook remains bullish. As global trade tensions mount and the Federal Reserve leans toward a more accommodative stance, gold could see further gains in the months ahead.   Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Andria Pichidi HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • AMZN Amazon stock, nice buying at the 187.26 triple+ support area at https://stockconsultant.com/?AMZN
    • DELL Dell Technologies stock, good day moving higher off the 90.99 double support area, from Stocks to Watch at https://stockconsultant.com/?DELL
    • MCK Mckesson stock, nice trend and continuation breakout at https://stockconsultant.com/?MCK
    • lmfx just officially launched their own LMGX token, Im planning to grab a couple of hundred and maybe have the option to stake them. 
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.