Potential Gold Short
- Block to block trading on the 15min and 30min charts
- Blocks are valued on Volume, Williams R % and the amount of times they have been tapped.
- Always wait for price action to confirm the trade before taking it.
- Stops should be other side of the block.
In this Setup we will have to wait to see what happens at London open.
If we reach that upper block look for bearish signs on the 5min to enter.
In the case London open brings price down immediately the supporting block at 1916 can very well fail, and caution should be taken.
The lower block at 1910 is a fairly strong / fresh block and a bounce / long there is a likely setup.
Will post possible long setup there later - however only trading London today due to too much news coming for the NY session today.
- Blocks are valued on Volume, Williams R % and the amount of times they have been tapped.
- Always wait for price action to confirm the trade before taking it.
- Stops should be other side of the block.
In this Setup we will have to wait to see what happens at London open.
If we reach that upper block look for bearish signs on the 5min to enter.
In the case London open brings price down immediately the supporting block at 1916 can very well fail, and caution should be taken.
The lower block at 1910 is a fairly strong / fresh block and a bounce / long there is a likely setup.
Will post possible long setup there later - however only trading London today due to too much news coming for the NY session today.
Note
- Move SL to BE as soon as you can- Trail SL on 1min / 5min - Take what you can, give nothing back.
- TP's are always hypothetical targets.
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