Took successful buys on gold after price broke resistance, waited for a pullback and entered anticipating price to move up with Asian volume. Looked to target a 4hr wickfill and stops were placed below the previous 30m candle.
For most trading masters, their success is not based on luck, but on strength. They all have a deep understanding of market trends and the ability to continuously learn and adjust. At the same time, they also have a calm mind and meticulous analysis ability, and can fully consider various possibilities and risks when making decisions. They usually have their own...
A reasonable trading plan is the starting point of success An excellent investor never trades aimlessly. Before making a trade, they always have their own trading plan to help them identify trading opportunities and avoid chasing market trends. Developing and executing a trading plan is an important component of trading success. So, how do you develop and execute...
‼️ What is a Marubozu in forex? A Marubozu is a long or tall Japanese candlestick with no upper or lower shadow (or wick). The candlestick pattern comes in both a bearish (red or black) and a bullish (green or white) form and is easy to spot due to its long body. It basically looks like a vertical rectangle. ‼️ How can you tell if Marubozu is bullish? The...
✅ A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift. A cup and handle is considered a bullish signal extending an uptrend, and it is used to spot opportunities to go long. 🎯 Cup Handle Pattern William O'Neil's Cup with Handle is a bullish continuation...
hree black crows is a phrase used to describe a bearish candlestick pattern that may predict the reversal of an uptrend. Candlestick charts show the day's opening, high, low, and closing prices for a particular security. For stocks moving higher, the candlestick is white or green. 🎯 The three black crows candlestick pattern is considered a relatively reliable...
Gold collapsed extremely hard due to trapped liquidity at the equal highs on the left. Once banks had pushed the price up aggressively into this area, stopping out sellers, they then could proceed with their aggressive selling. It is crucial to understand the concept of liquidity if you wish to make high risk to reward trades and understand the WHY behind...
After an impulsive move, the market tends to enter into a consolidation. This is the zone where buys and sellers fight to win the next move. Of course, whenever sellers and buyers are fighting - liquidity is built. In this example, sellers attempted to sell from the structure only to be stop hunted before the true move to the downside. Likewise, buyers would...
A channel is one of the most basic price action patterns The channel is a powerful yet often overlooked chart pattern and combines several forms of technical analysis to provide traders with potential points for entering and exiting trades, as well as controlling risk. The first step is to learn how to identify channels. The next steps include determining where...
This is an insight into the possible movements of gold we might be seeing in the coming week, generally, we are bullish bias unless proven otherwise. TRADE WITH CAUTION
Here we have a simple break and retest. Gold broke above resistance at 1573. Came back retested as support created a morning star candle on the 1 hour time frame. Before the opening on London, this was a clean and easy setup. The confluence of different time frames was also another indication to buy. You could have secured at least 80 pips before market close.
I just want to inform to all traders out there that the price of XAUUSD Gold will be touch $2000 and the price of silver will be up to $20 by the end of 2020. If looking into the history of the gold, long before the price reach $1000, many traders will not expect the price will be going to hit $1583 today. Year 2000 = Price $277 (10 years later) Year 2011=...
Inital consensus as posted earlier was XAUUSD will retest and price will fall short, however price did not follow my entry requirements so I did not enter the short position. Now price has broken the previous resistance zone and is consolidating sideways above it. How I will be entering: - I will be waiting for a candlestick that wicks down to the current zone...
Saw this support & resistance, As you may know the market sentiment around GOLD is bullish. However before I decide to step in I can see this playing out before upside targets.
How to trade the ABCD pattern This is an example of a bullish ABCD pattern. Ideally, Point C should be Fibonacci retracement between 61.8% to 78.6% of the A-B leg. Point D should be a Fibonacci extension between 127% to 161.8% of the B-C leg. Stop loss should be below D or previous low. Take profit can be at the 38.2% and 61.8% Fibonacci retracement of the C-D leg.
How much should I risk on this trade? The question I get a lot in trading group. When I hear it I ask a question back to that person. How much you can afford to lose? When I enter a trade I always think about how much I will be losing, and can I afford to lose that amount. We are small planctons here and nobody cares about us, so losing one can arrive very...
Hello guys. Personally I am excited as we get closer to FOMC, and I will be trading FOMC event. I will have positions on: DXY USD/JPY GOLD SILVER EUR/USD I will manage to trade this event with High Frequency news trading machine, as HFT is back in da building, and we had a great success trading news with this machine. Last NFP was sweet as well. Since I have a...