Gold Analysis UpdateI believe this analysis is only getting started, so let's see what happens in the coming 24 hours or so as there is NFP tomorrow (from the time of this video).
Have a great rest of your day guys
Goldsells
Gold Possible SellsOANDA:XAUUSD My sentiments on gold for today.
1. Last buyer haven, prior to recent one
This is the last place prior to the level gold is sitting on top currently (4.(black)) where buyers would have been really and truly comfortable buying which means we know there could likely be stop losses even below here.
2. Bearish momentum/bearish channel
At this time gold has been bearish for about 7 days and if its one thing you know I believe in is momentum, adhere to whatever the momentum is doing - in this case its selling (bearish) so it is likely IMO to continue to do so - this is further supporting by the elements of my analysis.
3. Buyers stoplosses
The area highlighted in red shows suggested buyers stop losses below the currently obvious buyer havem (4. black) which means this is likely where the market will try to attack to capture that trapped liquidity. Something to think about, if gold had the liquidity to buy, it would. Let this guide you in terms of what you allow yourself to see next.
4. Current Obvious buyer haven
Pay attention to the level I've drawn to show where buyers would be heavily induced to buy at this time, this looks like a gold mine for buys (pun intended lol). Something you'd learn in this space, if it feels to good to be true, it probably is.
5. Possible move
This is what I think is likely to occur, gold will crash below the current obvious buyer haven taking out all previous buyer stops, capturing all that liquidity along the way even attacking the last buyer haven. Then and only then can gold resume it's bullish activities because now it would have enough liquidity to do what it wants.
What are your thoughts?
+$380 Dollars on Gold TodayYes gold is bullish, yes I sold gold, yes I took 2 losses, Yes I am still in profit at the end of the day.
The more I grow as a trader the more I realize that it is much more about what decisions you make as opposed to just what trades you take.
Yes the trades you take are important but ultimately you have to make a decision to take that trade in the first place right?
Have a great rest of your day guys
How Probabilities Help Me win Trades on GoldAs much as I want to tell you that there is some magic set up that works for me, Unfortunately I cannot because there isn't.
The more I look at my own trading over the many years that I've been doing this. It literally boils down to probabilities.
What is the probability that X will happen if Y happened. This is literally how I process everything and as you can see it works wonders.
In this video breakdown I show you even a new trade LIVE. Admittedly, I wouldn't have taken it because it would have been counter momentum but even GUESSING I could make it work because of probabilities.
The reality is that we overcomplicate what we do too much and this is really not needed.
K.I.S.S - Keep it stupid simple
