We're below that point of control area right now and if you're not already in this trade, wait for a pullback into that sell area. Looking 3:1 profit on this one with a 2:1 at TP1.
Trade active:
Well we've moved to the downside much quicker than expected and into the profit zone, our first TP to aim for is 1755
Comment:
Gold continues on the decline as news comes out from the FED that puts the DXY shotting upto the highs... this validates our goal trade to continue down towards the lows at 1700.... and beyond!
Comment:
Gold continues to the downside and if you're looking to get into this trade, I wouldn't consider an entry until 1755 or 1775. The rest of us just require patience, let your winners run.
Comment:
We're having a little pullback, but we're in a downtrend so we are still sellers, only trade into 1785 resistance area, anything else is high risk and low reward
Comment:
Hopefully you all remained patient as gold has now continued to the downside, don't trade the news. Make your trade and get on with your life. Looking forward to breaking 1.17 to make next week even more interesting
Comment:
We're now testing down at the 1720 level, and if we continue down to break the major order flow level at 1710, then I would expect to confirm this downtrend down towards 1680 and potentially further after a little pullback into resistance onto 1650.
Please note I spend very little time trading and staring at my trades all day, I much prefer to let the market do the work while I'm doing other things or looking for the next high quality trade.
Please note I spend very little time trading and staring at my trades all day, I much prefer to let the market do the work while I'm doing other things or looking for the next high quality trade.
Comment:
As you probably saw, Gold has continued nicely our downside profit margin.
I saw many traders posting that gold will go up, firstly they never know, and secondly, any trade that is counter-trend on the daily chart is a high-risk trade, simple maths. Not magic.
If anyone trades below the daily, they are either very very talented individuals who can manage capital, their nerves and are happy to take a higher risk short term trade, or their gambling ....
I trade differently, I have a lot more time to do what I want to do and grow my capital
I saw many traders posting that gold will go up, firstly they never know, and secondly, any trade that is counter-trend on the daily chart is a high-risk trade, simple maths. Not magic.
If anyone trades below the daily, they are either very very talented individuals who can manage capital, their nerves and are happy to take a higher risk short term trade, or their gambling ....
I trade differently, I have a lot more time to do what I want to do and grow my capital
Trade closed: target reached:
The final Gold target has been achieved with a win ratio of 2.5 and a 2% of capital risk. No stress, no trading all day, just spend more quality time hunting for profit potential and then let the market win for us.
If you're losing money and trading below the daily time frame without a very tight leash on your strategy, now you know why.
If you're losing money and trading below the daily time frame without a very tight leash on your strategy, now you know why.