Waiting for Gold to react in any way shape of form on this strong key level. When market makes a decision I go WITH the decision. I always try to tell myself when market hits key levels like this current one on gold, I need to become a bandwagon. You become a follower of the trend. Once market decides its trend (if its gonna reject or breakthrough), I need to become a bandwagon and follow the trend. That is how you make profits in these markets. Of course you have to master your entry style and managing your trades and also your technical and fundamental analysis. But when it comes down to it, being a bandwagon and truly understanding where market wants to go, then joining it after it's decision is the one of the most important parts to my technical analysis.
If it shows true signs of rejections, I will look to enter where I can protect my stop loss and I wont get stopped out unless the market is going to reverse and break through or break structure.
If it shows true signs of no rejections, I will wait for full movements made above the level, and wait for retracement in order for me to enter at a safe spot and have a well placed stop loss.
I do not trade on sundays, which makes it perfect so I give gold a full day to make it's decision before I join the trend and join whatever decision that market makes, and make profits with it! PROTECT YOUR STOP LOSS
If it shows true signs of rejections, I will look to enter where I can protect my stop loss and I wont get stopped out unless the market is going to reverse and break through or break structure.
If it shows true signs of no rejections, I will wait for full movements made above the level, and wait for retracement in order for me to enter at a safe spot and have a well placed stop loss.
I do not trade on sundays, which makes it perfect so I give gold a full day to make it's decision before I join the trend and join whatever decision that market makes, and make profits with it! PROTECT YOUR STOP LOSS