How to trade GOLD profitably | FX CARTEL Ep8

i'm going to show you the way i trade gold they're there [Music] i'll let you open it nice one thanks dan thanks very much the gift and why you said a culture i think cold trade gold trade he said he would buy me a companion if he was breaking the gold trade [ __ ] out right you used to work for me at the go-kart track announced full-time trader see everything's possible everything thanks then we're going to pick up my car after he's had down pipes and a chin yeah so yeah they love going to work yeah yeah when you love going to work and like you know you you do a good job this is the amg they did last night is [Music] where's them pips just ugly as [ __ ] look dead doesn't it it's the grimy place is that nice though in it it wasn't this all right you're over that right it's up to you mate you didn't see what up here no it's all right it was up to you what do you reckon right you see that you don't see that happy right right no no go go and just scope the place out see what it looks like bank transfer it's five five star hygiene rating man bank transfer do you know what to eat here just make your mind up cause i'm not standing outside like a [ __ ] nonsense what it look like it's like [ __ ] chippy the main thing is five dollar five-star hygiene right here is it yeah which you can print out on [ __ ] google if you wanted to yo let's just go somewhere else man and a banana milkshake we don't have any milkshakes let's go psychology [Music] [Applause] [Music] [Laughter] and then he's done 14 map provisions 14 map revisions together you like the color yeah yeah i like it it's different than that everyone that's coming today i love that noise comes through the cameras [Music] you remember this is a big [ __ ] car [Music] yo john do it proper three two one yeah let's take a look at gold now i'm going to show you a few tricks on our gold moves okay so when it comes to goals and what moves goals it's mainly fundamental reason so as a trader i do like to focus on the tech side but my main driver is the fundamental and it's mainly two things it's risk on risk-off so what is risk on risk of so basically when risk is on it's uh when everything is uh going well worldwide economy uh company does well so usually the stock market uh quite bullish what you tend to see in risk on market is investor looking for riskier investments so greedy investors looking for more investments and that tends to make gold fall why because gold is a safe haven and safe heaven is largely largely used whenever the risk is off so in risk of market people tend to use their money and place it into safe even like gold japanese and swiss franc and that is what mainly moves the market like the gold market so in risk on market you will see a goal falling and in risk of market you'll tend to see a goal on the upside quite bullish so this is my main driver when it comes to gold trying to assess the nature of the environment i'm trading in so are we on the risk on environment or are we on the risk of environment so this gives me the medium to long-term trend basically so when we are on risk on market our goal is on the downside so what we've been seeing for the past few weeks so goal is is bearish medium term long term long long term i think and i think it's in it's in nature i think gold is always going to be somewhere bullish because it's a rare metal and it's been there as a safe event for like forever so gold has the tendency to be naturally bullish but when the risk is on and you've got more appetite for risk investment you tend to see a significant fall in the gold market what we are seeing now so keep in mind this gives me the direction for the medium term trend so it doesn't mean that this is going to go on forever so i use that usually to access the week ahead that's coming so i'm trying to study on the weekend and with the help of a success one of our analysts so what is likely to happen with the risk appetite if we are more prone to risk on our risk of assessment so it's very linked to the us dollar because most of the currency exchange is based on the us dollar so closely monitoring the u.s economy gives me a good sense of whether we are on risk on or risk of market so what happens when i do see a direction in the market well i'll try to focus on the medium term so for the week ahead let's say on so this week was a risk on and i'm thinking there is more strength to come in the user with the late policy so i think there's more downside for gold so what i could be looking out for uh next week i could be looking out for a good technical language to try to hold the tread from monday to friday because usually what happens is that you will see a medium term trend where investors place themselves on the gold market or whether whichever market but for in this example urban market where they will look for direction under the market and look to profit by the end of the week so usually around the u.s session which is far as four or five pm you will see some um accelerated move to the opposite side of what it was during the week and this is what we are seeing right now because the whole week has been downside and we've reached some technical level and now we're seeing a reverse the reverse is just a profit being taken by those investors that have been on a risk on selling direction on gold so what's happening are you profit from this well if you do not find the direction of gold which you do not always people still believe that you always need to know where the market is going you don't you don't actually so let's say i do not know where the market is going i did i have an idea but i'm not sure well i let the market uh unfold its natural course but i know that if we have several days of one direction it is likely that someone is profiting from what is happening so in this example if the market is going down so if cold is going down eventually eventually those people that drive the market to the downside are going to want to uh cash out basically because they are making money they are pushing the price to the downside so they are making money so when they are making money when you're making money right now making money we eventually want to cash out and so i will base my pretty much all strategy on on gold on profit-taking area so those profit taking over here are very simple to identify they are made of the latest rejection latest rejection fib 38 and fib 61. sometimes the combination with my ema 200 ema i use on weekly and daily but those three elements are the area i'm looking at for some profit taking so if i give you an example if you look at this chart now the latest rejection on that price around the 1765 which was the trade we took on the floor so when we make such a big move from this area when the market is being driven to the downside and quite significantly as you can see from this move to the downside what you can expect is that those people there making all the money to the downside they are not looking to buy so that's the whole thing they are not looking to buy at that price they are looking to get rid of the position because they might think that because of the previous rejection people will enter and have a reason to buy there so therefore they will look to exit their position and by exiting the position you've got loads of sellers so more sellers than buyers when the seller exit the position buyers do overcome the seller and therefore you see a reversal and this is what i like and this is what i tried when i tried gold looking for these profit taking zone the stronger the move to the downside the better the longer the move the better as well for me so when you have a big move to the downside like this in the past couple of days before reaching the zone which is a five six hundred pips move toward a profit taking zone quite sharp then you increase the odds of the profit-taking happening even better if it occurs on either on wednesday or friday that's from experience so based on that i know there is a high chance for it to reverse and that is the main technical side strategy i have on goal so i identify this zone of profit based on the previous rejection so weekly and daily so if you like if you have a look at this chart quickly what has happened in the past couple of weeks so i took a bite here i took a bite there at 17 18 another one at 1705 and another one at 16 92 so three by so two of them were sent on instagram social media so what was the reason and the technical reason for it so you need to know a few other things so it's good to see latest rejection like this like this one i mentioned the film 38 and 61 but there is also a very very uh psychological approach to the figure the number itself big round number like 1700 so 1 7 0 0 are very strong psychological level and as being strong they used to be they are used as a reference to exit enter the market so whenever we approach one of these big number double digits i call them so one seven zero zero one eight zero zero if i'm approaching them to the downside like we have done there i will always try to buy them especially if the move is strong and it was pretty strong to the downside and how i do that i will enter the market not on 1700 but i will always enter the market uh five dollars ahead of the um big round number so for one seven zero zero i will enter one seven one seven zero o five why because there is a lot of profit taking happening before that psychological level and sometimes what you see is that the fact that everybody is taking profit it reversed the trend before it actually reached the level so i will always go ahead five dollars ahead of the level to make sure i profit from this if it does happen like it did what's likely to happen as well it's very often that you get a re-test and the re-test usually happen below that level so the way i tread and when it doesn't happen as a retest and if the 1705 doesn't work usually what you tend to see is a slight bridge of that level so whenever i'm looking for one of these i will place the thread at one seven or five and one six nine eight so that way if it gets further down my average is somehow around the 1702 and it makes up for a decent red but if i don't get trigger on the 1700 so with the 1698 at least i've got that 1705 that is triggered and usually most of the time what you will witness is that the 1705 most of the time works so that was the reason why i sent this trade it doesn't have much more confidence than being around a psychological number that is used as a reference to take profit the other one was the 1692 so based on the same logic the actual number i was interested in is 1690 so now i'll show you uh quickly what was 1690 if you look at a very basic fib so you've got a strong rejection and a significant price move to the upside as per a 50 cal strategy if you look at the whole physical strategy on how to trade the bullish momentum on goal i'm not going to come back on that but that doesn't even retrace 38 and then push further up so you can extend your fibonacci anyway so it comes back to getting the fuel from there to the highest point which can and what doesn't give you it gives you the 61. 38 worked eventually broadcast so when you block past the next one i'm interested in is the 61. so i only use 38 and 61 uh when it comes to fibo i sometimes use the 50 but i rarely use any of the levels so 38 61 are the main fibonacci level i use so as you can see 1690 is the fib 61. so why 1692 93 as my level well for the very same reason i took 1705 and not 1700 is that being the level that is going to be targeted to uh take profit off dubai you might see the reversal momentum reversal happening before the actual number so on a price smaller price than this big double digit so smaller price i will always enter the market two or three dollars ahead of the price uh misconception in this trading is that the better the more accurate the entry the better the trade now it doesn't actually makes any difference as long as you're in the trade it doesn't make any difference if you 200 pips drop down or 500 rupees right now as long as it's risk managed and it's within your risk it's it doesn't really matter so for the sake of a couple of uh dollars it's not worth risking depending so on any other level of interest i will always enter two three dollars before the actual level and all the other stronger one i would always enter five to seven dollars before so 17 1700 being just a round number i took it five dollars ahead if that 1700 other conference like a previous rejection or anything else i would have entered 1707 seven dollars ahead because he had conferences because it wasn't with other conferences like key level fib or anything else just a pure round number i only entered it five dollars so that's the main thing on our lookout for uh the the big reversal strategy now i said that the whole momentum is based around the risk on risk of environment and sometimes it can be difficult for you to assess the risk if it's on or if it's off so one of the other things you can use i don't like it i don't like it to be used too much but that actually works is usually the 15 minutes chart on gold i know it's doesn't seem good but if you've got strong momentum and you have missed the direction so if you've got strong momentum for me strong momentum is any uh 10 plus move so if you move from 1800 to 18 10 you made a 10 move if you look at the 10 the 15 minutes if you want to find a decent entry on that momentum you look out for a retracement of 38 in the 15 minute chart so if you make i'm going to show you an example i think that's the best thing so if you look at a 15 minute chart a 15 minute chart okay so if you're looking at a 15-minute chart there we've got a strong momentum and we make over ten dollar price move from there to there okay so what you see is over ten dollar move and strong momentum look at the 38 on under 15 minutes 38 you could even use i don't use it on the 15 minutes obviously my previous rejection but that is a strong move more than 10 and as therefore a lot of momentum if it has a lot of momentum it has a clear fundamental direction if it has a clear direction there is a way to enter the momentum to carry on further and if you look at the 38 on the 15 minute you can actually enter the 38 and target the previous law and it does work so it made another four dollar push from that momentum so the way i would do it when i want to enter the momentum when i missed out on the momentum or the direction you could use this to just enter the market in the momentum so the way i would do that i would enter the 38 target the previous law once the previous law has been reached so slightly before not to be greedy i will cash out 50 of my position i will place my stop-loss at break-even and carry on with the momentum if you will right the momentum should not go back to 38 it shouldn't because there is momentum so there is movement and usually one way so that stop loss is safe in the break-even area because the trade should not come back and if you look at this he didn't come back and carry on further to many many many many more pips so that is the tips i use as well to jump on the momentum it can be used on when you missed out on the direction when you missed out on the news or you didn't have uh enough um when you were not fast enough to jump on the news for example late speech or for you by the time you analyze this picture and you understand it the move is already activated you can jump on this on the 38 if there is momentum and you will very often works so i use that a lot for a momentum type of trade a covered vaccine news news is being made and i just don't want to enter out of the blue i will look out for retracement 38 because i will know that it will have a lot of leg to go back further and use like a power speech i just shorted it why don't you tell me it's done so many why [Music] the momentum like 80 pips you already needed 70. i just stopped and you think you got the shot sure i'm sure absolutely chilled it oh my god he's pushing she's sure this shot [Music] [Music] [Music] come on next candle bear closes the bed that's it that's it no no no no it's coming it's coming close over there come on that's closest chill chill patient feeling like come on come on we are there you are take it now take it out [Music] wait [Music] killing the market [Music] if you enjoy the content guys don't forget to like comment and subscribe