Get started

Liquiditypool

XAUUSD (GOLD) (4H) Backtest : Break of market structureWinners = 12 Losers = 2 Breakevens = 2 Total Trades = 16 % Non Losers = 88% % Winners = 75% % Breakevens = 13% % Losers = 13% Win/Loss = 600% Net R = 17.2 Avg R/Winner = 1.43 Avg R/trade = 1.08 Bad trades prevented due to presence of liquidity near SL= 13 Icons on the chart Thumbs up : Trade was a win Thumbs down : Trade was a loss Circle with a cross : Trade was breakeven Cross : Did not take the trade due to presence of liquidity behind the stop loss Variables Avg winner = 1.6R Strategy : wait for market structure break, then trade the retest of that zone (against the trapped traders).
OANDA:XAUUSD
by makuchaku
[Beginner] Levels of support and resistanceWith the stock market meltup, and especially Tesla, and gold & silver, and negative Oil maybe too, there must be alot of beginners in the period. They come in waves. One of the first things anyone should learn is about areas of support & resistance. Learn to draw them, know that they are areas, the lowest (furthest away) half or even third of the area is the interesting one because of risk reward. There is a saying that says "The price takes the stairs up and the elevator down" or also "takes the elevator up and stairs down" (Bitcoin). Another saying goes "the price drops as fast as it went up". So sayings are useless. Look at charts and find out what works, what does not. You will find that you should not be buying when the price is approaching resistance. But anyway we all have or had to put in the hours one way or another to find what works and what does not. 90% fail and also 90% are not willing to spend hours looking at data, practicing, analysing, backtesting. It is also visible by the very high success all the "rich quick no effort" gurus have. Ignore support levels at your own risk. Don't put the hours in and get eaten alive.
by MrRenev