I know. I will probably get stopped out. If I do, I will reenter after the first Red H4 candle close.

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By the way, I am in on the Gold Sell Megatrade. Entered at 2467 and if it drops, will ride it to the Green TP line. Already set the stop at BE, so no risk on this ride.

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I am probably wrong, but I have gotten burnt too many times in the distant past with TDI H4 divergences...

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TDI inputs attached. The chart is H4.

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I will refrain from joining you in this one. On the attached H4 chart, the divergence on the TDI is very clear. EU is at a very overbought level, if the 10 MA (White) crosses the 20 EMA (Orange) it could be a big drop. I will watch from the ...

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I would set the TP to 2366 which is the 61.8 Fib of the upswing. That would be a similar fall to the one in May. If it breaks down, I will trail the stop giving it room to breath and let the TP or the SL take me out. You would know it is happening ...

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I cloned the channel (Pink) from the upswing in May and applied it to the current swing. They are uncannily similar. We´ll see if we get the same results.

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What trendline are you referring to? Thanks.

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Pedro, when the market goes against you more than 5% DD, do you ever advise hedging instead of taking the loss? I have rarely been successful hedging myself so I generally clean the slate...

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You can count me in for the seminar. I am eager to learn more about harmonics.

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Is that a M1 TMA on your chart? What indi are you using?

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Where do you see the bottom of the retracement swing? I have the 38.2 Fib retracement at 2402.

Gold

I don´t think they will cut till the end of the year and after they see what happens after the election, but you never know. The Fed is usually behing the curve so who knows.

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It should be a repeat of what happened in 2016. The dollar stronger and the Euro weaker. Gold weaker. This should play out till the election. Remember also that Trump will hit China with a 10% tariff. That will also increase inflation in the short ...

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Exactly... and a lot more to come during the next few months...

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Now I watch to see if the bottom of the wedge gets taken out and tested from the other side. The test point should be the ideal level to sell for the big drop.

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I don´t think we are in a new bull market. I think you just had a triple top in Gold and it is now dropping as it should.

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[quote=pedro319;14932782] I agree with your levels. Attached is the H4 wedge that gives a clue of the drop we may be nearing. EurUsd should drop also. We´ll see.

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You are doing the right things and being cautious which is good. However, in your place, I would practice with a live account and very small trades (0.01 lots). There is a world of difference between live and demo. After you become profficient, ...

Gold

[quote=pedro319;14932766] How are you playing it? Are you long now? Waiting for levels to be reached to short? To me, 2450/2460 looks like a possible top. If that goes, 2500 seems reachable.

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