How I Caught 200 Pips On Gold And How You Can Do Too✨Hello Traders✨
I’ve done a breakdown on how I caught 200pips on GOLD!!!
Just like how a pilot cannot takeoff without completing the checklist procedure✅
As traders I believe we cannot just place a trade without completing our own trading checklist.✅
Trading is a business, and like any other business we want to enter deals that are in our favor ($$$)
Before entering a trade, I need atleast 3 confluences and in this particular trade the criteria was met
As you know, Gold has been in an uptrend however I could see that it was starting to lose steam
That is when I pulled out my tools
⚡️Note : Some of the tools I use to identify reversal trades may not be applicable for trend riding⚡️
1. The channel - The breakout out of the channel helped to confirm that a reversal was taking place✅
2. Awesome Oscillator divergence - This is an “Awesome” tool I use to find hidden divergence & confirm reversals - as you can see there is a higher high on the trend and lower highs on the AO signaling divergence✅
3. Psychological Level- This can be powerful especially when used with reversal chart patterns like that DOUBLE TOP there on the wicks at 1900. Here you can see the 1900 level was rejected twice by those weeks and I knew it was Game on✅
I hope this post will help someone who is struggling to put it all together
A trading checklist might just be the missing key in your trading
It will help you to factor out FOMO trades and reduce overtrading giving you that sniper like precision⚡️
Remember trading is serious business.
Real money is involved
So take the time to do a checklist and filter out the bad trades from the good!
God bless you✨
Slick⚡️
