It´s possible...

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This butterfly makes sense because it would also take care of touching the weekly pivot at 2426.

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You are probably right. I just took the 125 pips from the previous fast drops of the triple top and applied it to this move. The level I got for the TP is also good support.

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In an ideal world in my view, Gold should drop to around 3258 first, then retrace to the 38.2 Fib and then finally bottom around 2300. It will be interesting to see what develops.

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Gold price is paralleling the lower down sloping band of the H4 TMA. Generally, this resolves itself by breaking in the direction of the TMA, in this case, down. This is a tricky setup for Gold, The Great Deceiver...

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I believe the small bounce in Gold is over. I entered a Sell last night at 2398 with TP at 2357. I could be wrong, though. We´ll see.

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Hi thanks for this, I like exploring multiple time frame confluences. I use Trading View so have had a look at duplicating your set up. Would you please just confirm that the chart in this post has the TMA settings of 25 and 1 and is H4 and D1,as ...

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I am not taking this final leg down. I will wait for the subsequent $ 35 bounce and sell it again after the 10 EMA crosses down again.

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Gold may now be on its way to the 2355 level. There we should get a healthy $30 to $40 bounce before we go down again. We´ll see.

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With regard to counter trend trades, it is simple. Stay away from them. They are not needed in order to make a steady profit and they can get you in a lot of trouble, especially with Gold.

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I estimate the bottom of this swing at around 2355. There may be a small bounce before that. Hard to tell with Gold.

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It is clear that you are a scalper. I love scalping also. I still use the same Extreme TMA system to give me the direction of trade, but I use the 3 EMA, 7 EMA and 10 EMA for more precise entries and exits. Attached you can see a Gold M30 chart to ...

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Let me give you an outline of what Extreme TMA is. As you know, most forces in nature are composed of waves or cycles. There are smaller time frame cycles within larger time frame cycles in everything. An example is the 24 hour cycle of the moon ...

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Good question. I am not at my computer now but I will answer you tomorrow with a chart example and a detailed explanation.

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Sorry guy, I did not say such a thing. Don't put words in my mouth. You better read more carefully. "Fail safe SL" What the hell is that? There is nothing fail safe in this business. What I did say is: 1 - The Green MA is really only used for stop ...

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I am 74 and sleep sporadically as it is usual at my age. For me it is actually a good distraction to check the chart on the phone when I wake up several times in the middle of the night. Also, at my age, I don´t have a job waiting for me in the ...

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Good point... I like your butterflies though...

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One trade, up 16% of the account balance. That is the Caterpillar system at work. Have a nice weekend.

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I just closed all Gold trades, why? Because two H1 candles hit the ADR daily limit and did not pierce it. Also, it is Friday and I am tired of looking at the screen. Made plenty of money with the trade... I deserve a break...

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