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THE KOG REPORT - UpdateEnd of day update from us here at KOG: We wanted price to reject the high and give us the short into the red box defence during the early session levels 2730-35. We did get that move but it was achieved via the gap on open giving traders a couple of opportunities to take the long trade from the level following the path. We're yet to complete the first bullish target but we're on our way so we'll stick with the plan! Based on the structure and range at the moment we're not discounting another dip into the low but will look for pull backs into the 2735 region to hold to continue the move upside. Support 2735, resistance 2750 could give a reaction for the short scalp. Keep an eye on the red boxes, pinned below, they're working really well. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
5 tips for building a professional trading mindsetHey traders Building a professional trading mindset is crucial for success in the forex market. Here are five tips to help develop and maintain a professional approach: 1 . Develop Discipline and Patience: Stick to a Trading Plan: Develop a detailed trading plan that outlines your strategies, risk management rules, and goals. Adhere to this plan consistently to avoid impulsive decisions. Be Patient: Understand that success in trading doesn't happen overnight. Be patient and wait for the right trading opportunities that align with your plan. 2 . Embrace Continuous Learning: Stay Informed: Keep up-to-date with market news, economic indicators, and geopolitical events that can impact the forex market. Learn from Mistakes: Analyse your trades, both successful and unsuccessful, to identify what worked and what didn’t. Use this knowledge to improve your strategies. 3 .Manage Emotions: Stay Calm Under Pressure: Trading can be stressful, especially during volatile market conditions. Practice techniques to manage stress and maintain a clear, focused mind. Avoid Overtrading: Don’t let emotions drive you to overtrade. Stick to your trading plan and avoid chasing losses or getting overly greedy after wins. 4 . Implement Strong Risk Management: Use Stop-Loss Orders: Protect your capital by setting stop-loss orders to limit potential losses on each trade. Diversify Trades: Avoid putting all your capital into a single trade. Diversify your trades to spread risk across different currency pairs or financial instruments. 5 . Set Realistic Goals and Expectations: Define Clear Objectives: Set specific, measurable, achievable, relevant, and time-bound (SMART) goals for your trading activities. Understand the Learning Curve: Recognise that becoming a successful trader takes time and effort. Set realistic expectations regarding your progress and returns. By incorporating these tips into your trading routine, you can build a professional mindset that enhances your decision-making, improves your performance, and increases your chances of long-term success in forex trading.
Education
by Costy13
6
Alikze »» Link | Support on the major ceiling💎 In the daily and weekly time, it is moving in an ascending channel, which is currently suffering after breaking the channel on the ceiling of the previous wave channel that broke. 💎 If this three-wave corrective movement ends in the green box area, I expect it to move towards the next target of the supply zone specified in the chart. 💎 The first scenario : in the corrective microwaves of these three waves, the last log seems to have finished the correction and the probable scenario is the completion of this correction in the support zone, which we must witness the continuation of the trend. 🔔 The second scenario : In addition, if it penetrates the green subbox, the next alternative scenario can be imagined for it. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️ »»»«««»»»«««»»»«««
Long
by alikze
1
Bitcoin- Still has upside powerTwo days ago, I mentioned my expectation of a significant correction in BITSTAMP:BTCUSD , and I am considering selling in the 54,500-55,000 zone. While my view on a strong correction in the medium term remains unchanged, the short-term outlook remains strongly bullish. Upon examining the short-term chart, it's evident that Bitcoin is well supported by bulls above 50k, and both the weekend's drop and yesterday's decline were quickly bought. Furthermore, the recent consolidation forms a rectangle, which typically indicates a continuation pattern. In conclusion, in the short term, it's advisable to consider buying near the 51k zone. Additionally, considering a stop-loss order below recent lows, we could potentially achieve a risk-to-reward ratio of more than 1:2 or even 1:3 depending on the target.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
10
Golden Star| Gold daily ICT AnalysisGold with selling pressure that happened on Friday. -It has reached its support level which is the price (2012-2017). -By retesting the resistance level (2032-2038) and collecting the available liquidity at this level, the price can start its downward movement from this area to the level of 2013. -If there is more buying pressure, it may grow to collect its next level of liquidity at the (2045-2050) level and return from this area to start its downward move towards the 2013 level.
OANDA:XAUUSDShort
by Golden_Star1994
BluetonaFX - AUDUSD Key Level 1D ChartHi Traders! We are approaching a 3 week high around the 0.68076 level on the AUDUSD. We have not been this high since April 14th so we expect some resistance around this level. Over the past week, we have had strong bullish momentum after failing to break the long term support level of 0.65637. Further to the upside, there is a long term 50% retracement resistance level of 0.68614 but there must be a break and close above 0.68076 to possibly target this. We will continue to analyse this and carefully monitor how the market behaves now we are near key levels. As soon as we have any updates on this set up we will let you know. Please do not forget to like, comment and follow. Thank you for your support. BluetonaFX
by BluetonaFX
2