Hello traders. Looks interesting today. Only 2 days left in the trading month. FOMC drove gold up a bit yesterday. Looking for some correction from the marked zone(s). It is all about timing. I get some messages about where to enter. My charts are just ideas of where I am looking to sell or buy from. But price action, what is happening on all time frames so everything lines up are what go into making a trade work. And volume during the busy trading times are what influence my entries. My trades are few, 3 a day at most. Entry is key with gold. In the beginning gold could go up $20 dollars and because my entry was not good, I would not lose the trade or stay in drawdown for ever only to get out with a little profit. I say this to all new traders. Higher time frames for the trend, and lower time frames for the execution. All thanks to Big G, my mentor. Trade the trend, and I only trade Pre London volume /London open. And Pre NY / NY open volume. I just scalp, so when I catch 15 to 20 pips, I close 75% of the trade, move the stop loss to break even, and leave a runner running. Be well.
Pip Whisperer
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Pip Whisperer
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.