This is the first in a series of trade reviews that I will be doing for TradingView viewers where each week I will review one or two of my trades. We will outline why we entered them and also how they went.
This is meant only for educational purposes for you to learn some of the skills that I implement when trading.
In this trade I used a very...
XAUUSD GOLD SUPPLY AND DEMAND ZONES. Identifying high volume levels is very important. The reason behind this is because in high volume levels there are unfilled orders from the banks which are pending to be activated once price returns to that area. My trading is based off 4h with high level zones.
UPDATE: GBPJPY ANALYSIS REJECTION. Beautiful trade today with an easy R:R of 1:4. This zone had formed on Wednesday and we had waited for price to return to this area. As you can see it was a really power zone sending the price back up.
Whats up all! Hope you are having a nice weekend stuck at home! We decided to make a quick little video showing how we use the Donchanin Channels to set support and resistance levels!
In the video we also go over BTCUSD, a possible sell trade and explain more about the mindset required for trading success!