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Gold-trading

Gold (XAUUSD): Important Decision Ahead! Your Plan: 🟡 Hey traders, Gold dropped sharply on Friday. The price has quickly reached a support line of a rising channel on a daily. Important decision is ahead! If the price breaks and closes below the support of the channel, a bearish continuation will be expected. Next support will be 1832. Alternatively, the market may start coiling on a trend line. You can look for an intraday confirmation to buy, expecting a pullback. I will post an update once I see a confirmation. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
7
BUYING DIPS/SELLING TOPS - KEEPING A CLEAN PSYCHOLOGICAL PROFILEHey Everyone, Here at GVFX, we are currently buying dips. What that means is that we buy on the dips and therefore only concentrate on long positions/buys with the odd sells for fun. As mentioned before, having both sell and buy positions open in your account will affect your psychology and in turn, your trading decisions. Now a question that typically arises here is why would it still be advisable to buy when the market is pushing down? Firstly, let me assure you that the same algorithms, experience and strategies that we use to achieve a 97% hit rate with our bullish directional bias also gives us the heads up, or down if you will, on when the market is going down. Don't think for a moment that we only know how to analyse a bull market or up trends. We share targets/signals for both buys and sells but choose not to hedge out of choice. Our published results remain consistently profitable month in month out!! In my experience, in the current market conditions, it is much safer to get out of a stuck buy position than a stuck sell position. That's not to mention the clean PSYCHOLOGICAL PROFILE that is achieved when trading in just one direction. And although hedging can in theory work, it requires years of experience and in the end, is simply not worth the effort. I am more than capable of hedging effectively but the fact that I do not should tell you something. Let us look at an example to further answer the question highlighted above. When you have short-term bearish momentum down, we take buys from key supports or MAs which act as dips. Remember that the market does not go up or down in a straight line (with the rare exception of short-lived parabolic moves). So, when the market is going down and hits one of our key levels, a buy from that point will go back up for 20 to 30 or 30 to 40 pips (this number of pips has been calibrated based on back testing) before resuming back down. You can think of it like this. The market moves in a zigzag manner. The zig is that part of the leg which is going down to create lower lows (if the downward trend is continuing). The zag is that part of the leg which takes a breather and pushes back up with momentum for our entry and quick pip-take range to create a lower high (if the downward trend is continuing) before heading back down again. We catch the right and safest waves (buys) in and out and surf to success. When price hits a key structural support or stops creating lower lows and lower highs, we then reassess for entries with a wider range of pip capture. Hope this post helps our followers to understand how we keep our psychology strong!! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSDEducation
by Goldviewfx
26
XAUUSD benefits from yesterday's dataGold XAUUSD benefits from yesterday's data with a negative impact on the dollar, recovering to 1825 before bouncing down with a decline in momentum while testing the resistance of 1807.96 The current wedge formation reflects overbought and correction possibilities with the expected profit-taking wave to 1775 If the sellers can fall below the 1800 mark The bearish expectation is in the short term, and does not support the idea of selling now, but there will be future opportunities to buy back - at least for now - while observing the price movement in the coming period
OANDA:XAUUSD
by Walid_Aboeldahab