Gold Buy Op's

Discussion in 'Journals' started by Lee-Bax, May 1, 2020.

  1. Lee-Bax

    Lee-Bax

    Good morning all, back on gold again today. Last time i took a trade on gold . we had the same setup buy from this monthly demand zone . The last trade failed to break the trend line convincingly so the trade was closed for 400 pips. We have since seen a lot of consolidation and most recently a drop back down to what looks to be a double bottom . I waited for support to form and this demand zone provided it. Impulsive bull candle so I entered on the candle close. Looking to visit the supply zone above for 1:3 R:R on this position. Easy one to take again GLIYF Screenshot_1.png
     
    #31     Apr 1, 2021
  2. Lee-Bax

    Lee-Bax

    Good afternoon all. Checking back on the gold trade today and happy to report currently 282 pips in profit. It will be vital what price action does over the next couple of days as we have just hit that daily demand zone . There is a chance that it could refill there and drop back. If so then get ready to close and bank your profits. If we make it through then we need to watch for the dynamic moving average resistance that it will provide. Two obstacles to watch for but easy enough to react to. Hold for now and make risk free. GLIYF Screenshot_1.png
     
    #32     Apr 6, 2021
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  3. Lee-Bax

    Lee-Bax

    Good morning all. Trading week is over, perfect time to look over the trades we have open. Today Gold is the pair, and happy to report we are 391+ pips in profit on this position. We broke the supply zone on the last high. Looks like we have created a little demand zone here so i think we can continue to hold our long position. The dynamic resistance of the moving average is next to push through, if we get through that then I think the bull has taken over and we should see TP hit. Hope you all have a good weekend GLIYF Screenshot_1.png
     
    #33     Apr 10, 2021
  4. Lee-Bax

    Lee-Bax

    Good morning all. Checking back in on our GOLD buy trade. Price broker higher then the previous lower high before the support formed at the double bottom . It has now create da higher high and what looks to be a higher low. The moving average is providing dynamic resistance as we can see price accumulate positions at the price level. Still 390+ pips ish as last time I updated but over the next couple of days will provide us with the direction it will be moving in. Hold for now will update again in a few days GLIYF
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    #34     Apr 14, 2021
    BKR88 likes this.
  5. Lee-Bax

    Lee-Bax

    Good evening all. Markets start again soon so a little update on our Gold buy trade. Currently going well, market structure has formed nicely for the buy to continue. Currently we are 700 pips up on this position. Move SL into some profits to secure the bag. As with Gold you never know and it could quite easily turn on us. But I think TP could very well be reached for us, breaking and closing above the moving average is a nice sign. If we reach TP then close half position, just incase we do get a bigger bull push, weekly demand is in control so we could see good movement upwards. GLIYF
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    #35     Apr 18, 2021
  6. Lee-Bax

    Lee-Bax

    Good morning all. Checking back in on our Gold buy trade today. Currently 810 pips up on the position. We aren't far away from our projected TP zone. Its looking good for a bull run medium term at least. We have broke above the moving average and creating higher lows and higher highs. I would move your stop loss into profits to secure yourself profits. But don't set a hard TP just yet, as its possible we could move past the TP zone and go higher, so I will keep updating and we will keep moving up the SL into more profits the higher it moves in our desired direction. Enjoy your weekend knowing you've secured a big bag of pips. GLIYF
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    #36     Apr 23, 2021
    BKR88 likes this.
  7. Lee-Bax

    Lee-Bax

    Good afternoon all, checking back in on GOLD today. Price has been in consolidation for a few days now. I've trapped price in this bear flag which we can see here. I'm thinking the next directional bias is being accumulated currently before we see a breakout. I still think we are heading north so if you're still holding just make sure as always you've secured some pips for profits. Even if we break below and your SL is hit then there is good demand below where we can re enter. Watch for now see where it takes us GLIYF Screenshot_1.png
     
    #37     Apr 29, 2021
  8. Lee-Bax

    Lee-Bax

    Good morning all, quick update on the GOLD buy we are in. TP zone 1 has been hit for 1000 pips, price has surpassed the level we projected. As I said previously not to have a physical TP set as we could be moving higher to the higher supply zones or the downtrend above. Directional bias is clearly bullish now so we can continue to hold. Either close half position and let the rest run, or hold full position. If you did close then the next buy in opportunity would be a pullback here to the secondary trend line to reach the trend line . If we break above the downtrend then I can see the top supply zone being hit. I have marked out the areas for you to monitor if you wish to stack or re enter. GLIYF
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    #38     May 9, 2021
  9. Lee-Bax

    Lee-Bax

    Good evening all, bit of a late one tonight. Checking back in on the gold buy position we have. Last time i posted on gold was 5 days ago, im not one to brag but look where price found support on the higher low, right to the pip. I love it when that happens. Currently 1200 pips up on this position, and I think we will reach the projected circled area of the bigger downtrend. That's where I think there will be a serious momentum indicator of what gold is doing longer term. Keep holding with me if you didnt close, move that stop loss up some more profits to secure the bag. Will update again in a few days. GLIYF
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    #39     May 13, 2021
  10. Lee-Bax

    Lee-Bax

    Good morning everyone, new week begins and its great to report GOLD has hit our TP projected zone at the down trend line . We have achieved 1473 pips so far on this gold setup. As said previously this is the point where it will truly tell us the next direction. We could see supply here filled and drop back down. So id advise to close half of your position take the profits and let half run as we surpassed our original TP zone anyway. If we are truly getting a longer term bull run we can keep the rest of our position running. If so we are looking for a break above the trend line and re test to carry on. For now enjoy the profits. GLIYF

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    #40     May 17, 2021