The formation of any triangle is a direction indication relevant to where you find it as some can be a warning if reversal.
The market moves in grids(zones). Relevant to sentiment of traders and news. It always moves in wave 🌊 and in those waves we have patterns like ABCD resumption. Failure swings💰👃, 🐂 bullish breakouts, traps ECT.
The thing is impulsive moves is where you want to be even though it may be a correction. The thing with that is only with rising wedge patterns that are confirmed by long wicked 🔨 that indicate a move to the downside and this is like I said the day being under pressure from all the wicks formed by sellers and buyers showing no strength or news keeping it suppressed. This is your classic break and retest strategy. Like I said the money is in the trend and the impulses is always where you want to be mostly breakouts from levels continuing with the direction of the day - down to MN if you that good.
The SL of the pattern invalidates the idea and if any near term trails can be hit we get even better low entries. Remember your idea is only invalid when it doesn't hold weekly and MN TF key levels. This can also be seen by the RSI as it shows the strength of candlesticks relevant to highs and lows of the sessions.
Risk management is key especially if you have an account from 2$-100$. We only increase size when the accounts over 250-500$ which will give you a chance at playing 0.05 not saying it isn't possible at 70$ but you risk blowing it faster than a single 0.01 that just loses 1-5$ depending how the setup looks. If you feel like it won't work the SL should be 100 pips of not 10-50 pips which is 0.30cents to 0.72c$
Entry will be a breakout. And anything playing and rejected in that area can be waited for a signal to go long. Obviously if you don't have money to blow on risk like a 0.01 and lose 20$ in one go than don't. You risk smaller that's why we wait for lows or zone to enter example 0.01 and a lose of 2-4$. You can always trade gold with a small amount and turn it to a lot thing is it will kick you out if you dont take profits or secure them in positive SL of 1_5$
The TP is usually the inside of the pattern or the impulse before. Remember wave move in 5-1-2-3-4 and five.
2-correction can't be a triangle so it's usually rectangle
4- correction Triangle 📐 and it moves up
3-the largest impulse bigger than wave1-&5, but never small than 1
1impulse can be an extension (1-2-3-4-5 wave in wave one ),
5 can be the same as ones length
Now the thing about waves is the counting that gets difficult especially if the complex corrections. Therefore for m30, you play the day and if it doesn't hit one target or the second you positive SL and wait for better entries.
Gold can make you bank if you play it right, I mean risk manage your account to small losses and close large ones you can always enter again another place a ladder positions.
Please like if this education is helpful 🙏
The market moves in grids(zones). Relevant to sentiment of traders and news. It always moves in wave 🌊 and in those waves we have patterns like ABCD resumption. Failure swings💰👃, 🐂 bullish breakouts, traps ECT.
The thing is impulsive moves is where you want to be even though it may be a correction. The thing with that is only with rising wedge patterns that are confirmed by long wicked 🔨 that indicate a move to the downside and this is like I said the day being under pressure from all the wicks formed by sellers and buyers showing no strength or news keeping it suppressed. This is your classic break and retest strategy. Like I said the money is in the trend and the impulses is always where you want to be mostly breakouts from levels continuing with the direction of the day - down to MN if you that good.
The SL of the pattern invalidates the idea and if any near term trails can be hit we get even better low entries. Remember your idea is only invalid when it doesn't hold weekly and MN TF key levels. This can also be seen by the RSI as it shows the strength of candlesticks relevant to highs and lows of the sessions.
Risk management is key especially if you have an account from 2$-100$. We only increase size when the accounts over 250-500$ which will give you a chance at playing 0.05 not saying it isn't possible at 70$ but you risk blowing it faster than a single 0.01 that just loses 1-5$ depending how the setup looks. If you feel like it won't work the SL should be 100 pips of not 10-50 pips which is 0.30cents to 0.72c$
Entry will be a breakout. And anything playing and rejected in that area can be waited for a signal to go long. Obviously if you don't have money to blow on risk like a 0.01 and lose 20$ in one go than don't. You risk smaller that's why we wait for lows or zone to enter example 0.01 and a lose of 2-4$. You can always trade gold with a small amount and turn it to a lot thing is it will kick you out if you dont take profits or secure them in positive SL of 1_5$
The TP is usually the inside of the pattern or the impulse before. Remember wave move in 5-1-2-3-4 and five.
2-correction can't be a triangle so it's usually rectangle
4- correction Triangle 📐 and it moves up
3-the largest impulse bigger than wave1-&5, but never small than 1
1impulse can be an extension (1-2-3-4-5 wave in wave one ),
5 can be the same as ones length
Now the thing about waves is the counting that gets difficult especially if the complex corrections. Therefore for m30, you play the day and if it doesn't hit one target or the second you positive SL and wait for better entries.
Gold can make you bank if you play it right, I mean risk manage your account to small losses and close large ones you can always enter again another place a ladder positions.
Please like if this education is helpful 🙏
Comment:
152 will open the 2160/170/190
Trade active:
2200 may open 250/2360
Above 2360 more resistance but uncharted territory
Above 2360 more resistance but uncharted territory
