GOLD Absolutely DESTROYS Sellers - As Predicted
Hey guys what's up Brandon here, ekatatrading. So I am here to discuss what really happened today through my own views. Now the first thing we must establish is that gold overall is a bull market..do we agree with this? Yes? ok good..
That being said - if that is the case, ultimately buys SHOULD make sense when the opportunity presents itself right?
I see most traders all the time ignoring the momentum in hopes of catching the absolutely highest high for a sell or the lowest low for a buy - THE PROBLEM WITH THIS IS - how do you know where the highest high or the lowest low is?
One trader responded to me by saying - "if I have to ask, it's because I haven't mastered my tools" true story. Let me let you in on a little secret - there is NO tool that will tell you this information. Your job is to figure out to the best of your ability what is likely to happen and that is it.
Now saying that I want to present you with an alternative to calling a top or bottom - it's simple really - Let the market tell you where it is going and get on for the ride..that's it.
Anyone who has been following me for any amount of time will have heard me say at least once -
NEVER GO AGAINST THE MOMENTUM UNLESS A REVERSAL IS CLEAR - Ekatatrading
This is a law and cannot be broken...at least for me and it works really damn well.
I found my entry using the M1 timeframe and as I am typing this I am still very much in the trade.
I also want to let you remember - I show and discuss my losses as well (ON THE RECORD) go to my profile you'd see
The trick is to make sure when you lose, it isn't the end of the world
Have a great rest of your day guys
That being said - if that is the case, ultimately buys SHOULD make sense when the opportunity presents itself right?
I see most traders all the time ignoring the momentum in hopes of catching the absolutely highest high for a sell or the lowest low for a buy - THE PROBLEM WITH THIS IS - how do you know where the highest high or the lowest low is?
One trader responded to me by saying - "if I have to ask, it's because I haven't mastered my tools" true story. Let me let you in on a little secret - there is NO tool that will tell you this information. Your job is to figure out to the best of your ability what is likely to happen and that is it.
Now saying that I want to present you with an alternative to calling a top or bottom - it's simple really - Let the market tell you where it is going and get on for the ride..that's it.
Anyone who has been following me for any amount of time will have heard me say at least once -
NEVER GO AGAINST THE MOMENTUM UNLESS A REVERSAL IS CLEAR - Ekatatrading
This is a law and cannot be broken...at least for me and it works really damn well.
I found my entry using the M1 timeframe and as I am typing this I am still very much in the trade.
I also want to let you remember - I show and discuss my losses as well (ON THE RECORD) go to my profile you'd see
The trick is to make sure when you lose, it isn't the end of the world
Have a great rest of your day guys
Trade active
Trade closed: stop reached:
Price hit trailing stop loss in profit - closed at 1:1.9 RRR
