In this example we see 
XAUUSD forming a simple and scalable setup interacting with key session levels and key times of day.
- 4HR OPEN CLOSE (10:00am)
- SESSION TIME RANGES
- DAILY HIGH/LOW
- SESSION HIGH/LOW
Here on my chart I use no lagging indicators. A previous session ranges high and low represents the major liquidity levels. A classic break and retest going into the NY session took place at 10:00am offering a parabolic opportunity back to a previous days session low.
SIMPLICITY IS KEY. Stay away from trading gaps, sweeps, hunts, soups on the inside of a high and low. The market only does two things.
- Breakout, fail, reverse.
- Breakout, pullback, continue.
Its important to be on a higher time frame to capture multiple sessions of liquidity areas. As a new trader I found looking to take a trade instead of waiting for a setup. 1 minute charts with multiple moving averages, oscillators, macd. Essentially a science project! Keep it simple traders. Patience pays. Timing, levels, behavior of price.
XAUUSD forming a simple and scalable setup interacting with key session levels and key times of day.- 4HR OPEN CLOSE (10:00am)
- SESSION TIME RANGES
- DAILY HIGH/LOW
- SESSION HIGH/LOW
Here on my chart I use no lagging indicators. A previous session ranges high and low represents the major liquidity levels. A classic break and retest going into the NY session took place at 10:00am offering a parabolic opportunity back to a previous days session low.
SIMPLICITY IS KEY. Stay away from trading gaps, sweeps, hunts, soups on the inside of a high and low. The market only does two things.
- Breakout, fail, reverse.
- Breakout, pullback, continue.
Its important to be on a higher time frame to capture multiple sessions of liquidity areas. As a new trader I found looking to take a trade instead of waiting for a setup. 1 minute charts with multiple moving averages, oscillators, macd. Essentially a science project! Keep it simple traders. Patience pays. Timing, levels, behavior of price.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.