Exxon Mobile (XOM): Awaiting Long Term Entry at $65Our group has recently revisited Exxon Mobil Corporation (XOM), and while there hasn't been much change, it's worth reassessing. The stock has entered the zone between 100% and 138%, which we identify as the level for Wave A and has respected this level.
Long-Term Outlook:
We anticipate a significant downward movement over the long term, potentially reaching the $65 level. This is where we plan to make substantial long-term purchases. The range between $65.50 and $64.40 has been consistently respected, reinforcing our strategy to wait for these levels before entering the market heavily.
Short-Term Outlook:
In the short term, Exxon has been trading within a range for nearly a year and a half. It briefly broke below this range to complete the larger Wave (A)and then broke above it to finish the sub-wave A. We are now entering a potential Wave B zone.
Current Strategy:
- Long-Term: We are waiting for the price to drop to the $65 range before making significant purchases.
- Short-Term: We are monitoring the $104 to $100 zone, which looks attractive for a potential reversal. However, given the risk, we are not placing any entries yet and will wait to observe the market's reaction.
Strategy!
Looking back, what did you miss out on ?Recent Developments: Super Micro has introduced several new products and initiatives that have fueled its stock performance. Notably, the company launched a ready-to-deploy liquid-cooled AI data center, optimized for NVIDIA Corp AI Enterprise software. This innovation is designed to accelerate generative AI adoption across various industries, providing significant cost savings and enhanced performance.
Top 3 Tips on How to Avoid FOMO Trading (Fear of Missing Out)Here you are, casually sipping your coffee and watching the clock go by while you wait for the market to open so you can buy a few shares of your new stock pick. Remember, you chose that one after deep research and careful planning.
And then “ WHAM! ” Twitter notifications start flying. GameStop (ticker: GME ) is once again rocketing to the moon after some livestream on YouTube unleashes a huge buying spree. “MUST. GET. IN.” — you, probably, after you get your emotions shaken and stirred by something called FOMO.
🔔 What’s FOMO?
FOMO is an abbreviation for Fear Of Missing Out. This little four-word phrase can throw your investment rationale, thesis and analysis out the window so it could settle in your prefrontal cortex where your brain goes to make life decisions.
In this blog, we’ll talk about that little gremlin FOMO and what steps you can take to prevent it from overriding your emotions and decisions. And for the sake of your time, we’ll keep it short. Let’s go.
💡 Tip 1: Plan Your Trade
Plan your trade in advance and don’t sink into the moment. Knowing your entry, take profit and stop loss before you move into your position will eliminate the urge to rush in when things get hot.
🔴 Problem: News Releases, Earnings Reports
We all know how intense markets can get when there are news reports coming out. Company data such as earnings reports or some of America's top economic events , such as the widely anticipated nonfarm payrolls , or the Federal Reserve’s market-moving interest rate decisions can spur volatility and cause trading instruments to seesaw and fluctuate in both directions. And because these events are well-known in advance — the Fed only meets eight times a year — these moments can be an attractive invitation to make a profit.
🟢 Solution:
Plan your trade and understand that news reports and earnings releases are a double-edge sword and even if the data supports a certain narrative, i.e. lower inflation = higher gold prices, this isn’t always the case. Take a step back, regulate your breathing and keep your emotions in check. Wait it out until the noise tones down.
💡 Tip 2: Avoid Revenge Trading
Revenge trading is the trading you do when you want to get back at the market after getting smacked in the face with a loss. Next time you stare at a losing position, notice if you feel the urge to jump right back in and make up what you lost. That's revenge trading.
🔴 Problem: Losses and Missed Opportunities
Taking a beating from Mr. Market can be a painful experience. Yet, not taking the loss the right way can lead to even more pain and wiped out funds. Whenever you’re staring at a losing position, you might be tempted to sell out and jump right back in an effort to make back what you lost.
🟢 Solution:
Avoid revenge trading. Recognize that pesky feeling, which — whenever you lose money on a trade — makes you want to pare back your losses with one quick trade. That quick trade could be a) more aggressive (for more potential profit), and b) cost you even more money because you’ve been impatient.
💡 Tip 3: Don’t Chase the Pump
Any pump usually has a strong pull, because it makes gains look easy. All you need to do is catch the speed train (or get onboard the rocket ship) and, boom, you're in profit. Although, it's not as easy as it looks.
🔴 Problem: Pump and Dump Schemes
Quite often we see some little-known stock or a cryptocurrency with a small market capitalization perform some outstanding moves. It may shoot higher by 100% or more and that may trigger some FOMO in you, causing you to panic-buy and then watch your investment evaporate like snow in water.
🟢 Solution:
Don’t chase the pump. It’s simple. A pump can play with your decision-making capabilities and cause you to make irrational choices out of the desire to join the volatility train. But many of those pumps end up as dumps. Pump and dump schemes are real — the gains go as quickly as they came and you don’t want any of that.
Final Considerations
Forming a deep emotional connection with the market isn’t a bad thing. This place is your passion and you’ve chosen to participate in it, together with its ups and down. What you should pay attention to is how you react to its changing moods and whether you behave logically or illogically to get what you want.
Acting illogically can lead you to trip up so you want to distinguish that. Use your emotions to get rational inspiration and excitement about what you want to accomplish.
📣 Your Turn!
Have you ever tripped up over a FOMO trade that hurt your account? What was your trigger and subsequent result? Let us know in the comment section below!
TFEX S50 FuturesTFEX S50 Futures
All Trend is Down in Primary, Secondary and Minor
Strategy 1: Wait for the price to rise to the resistance level (Supply Zone, POC of Volume and Regression Trend) then open Short Position.
Strategy 2: Divide Open Short Position and cut the losses short with Minor Trend
Target at Range Volatile 1 Month and 3 Month Low around 800 -790 point as last opinion.
The Wick Phenomenon: How and Why Big Wicks Get FilledIn trading, wicks on candlestick charts represent the highest and lowest prices during a given time period. Long wicks can often be seen as a sign of market indecision, but they also tend to get filled by subsequent price action.
This phenomenon occurs frequently and can provide valuable insights for traders looking to capitalize on price movements.
In this article, we’ll explore how and why big wicks get filled through practical examples.
Understanding Wicks and Their Significance
Wicks, also known as shadows, appear on candlestick charts when the price moves significantly above or below the opening and closing prices within a specific time frame.
A long upper wick indicates that prices were pushed up but then fell back down before the close, showing selling pressure.
Conversely, a long lower wick suggests that prices were driven down but then recovered before the close, indicating buying pressure.
Usually, at least 50% of the wick will be filled, and sometimes the entire wick will get filled before the reversal happens.
Why Do Wicks Get Filled?
1️⃣Market Psychology: Traders often see long wicks as areas of interest. For instance, if the price reaches a high but then falls, traders might anticipate a retest of that high.
2️⃣Liquidity Zones: Long wicks indicate areas where a lot of trading activity took place. These areas are often revisited as the market seeks liquidity.
3️⃣Mean Reversion: Prices tend to revert to their mean over time. A wick can be seen as a deviation from the mean, and the subsequent filling of the wick is part of the reversion process.
How To Trade It?
It all depends on your trading plan.
Here are some options:
Aggressive traders can buy/sell immediately after the wick has been formed.
Semi-conservative traders can look for a reversal pattern on a lower timeframe to confirm it.
Extra conservative traders can wait for the candle with the wick to be broken from the other side before entering.
Additionally, considering more confluences like key levels, market structure, and the overall trend will give you a better edge.
Why Now?
You might be wondering why I am posting this article now.
As you may have noticed, we had a dip yesterday, giving us a practical example on many altcoins and stocks. For this example, I have chosen DOGE, 4H chart.
I hope you like the content and found it useful.
Are you taking wicks into consideration in your trading plan?
If yes, how?
If not, why?
What would you like me to discuss next?
Always remember:
📚 All Strategies Are Good; If Managed Properly!
~Richard Nasr
Learn How To Trade Tradingview's new BBTrend Indicator!
Introduction
In this analysis I want to take a closer look at Tradingview's newly released BBTrend indicator. It's an indicator on the widely popular Bollinger Bands. You can find more information about the indicator here: www.tradingview.com
Indicators are nice to use, but the most important question remains whether they are useful in trading or not?
I want to present you a very simple, but powerful trading strategy using this new indicator.
Indicators used
- BBTrend: determine the best reversal entries.
- 200-period EMA: assess whether we're trading bullish or bearish.
Strategy
Bullish: price should be above 5% of the 200-period EMA. Light-red BBTrend has to change in trend and become dark red.
Bearish: price should be below 5% of the 200-period EMA. Light-green BBTrend has to change in trend and become dark green.
Investment: risk 5% per stop loss. This means that you lose 5% of your balance if the stop is hit, but gain 15% once the profit target is hit.
Stop and profit targets
Stop-loss: place stop just above the most recent swing-high.
Take profit: 3x the stop-loss distance.
Results
Win-rate: 4/8, 50%
Profit: +42%
(1.15*1.15*0.95*0.95*0.95*1.15*1.15*0.95)
I'm aware of trading within existing trades, but for the sake of simplicity I use this easy profit calculation method.
Final remarks
This strategy works well in strongly trending markets due to the higher probability of the trend continuing the current direction. In periods of prolonged trading around the 200-period EMA it can get tricky to get a good trade in, hence we only trade once we're at least at 5% distance of the EMA.
This trend-following strategy can be used on every asset and on every time frame. Just make sure to be consistent.
Good luck!
Filecoin (FILUSD): Preparing for a Gap Fill - Levels to WatchFor Filecoin (FILUSD), we are currently looking at a scenario where there is a Weekly Fair Value Gap above us. We are quite confident that this gap will be filled; the only question is when. We believe there is a potential good entry point at the current levels.
Below us, we have several supports. The first support is a 12-hour demand zone. Additionally, we have an Order Block Cluster and a simple support zone. These levels, combined with a favorable volume profile, should provide enough momentum and support for an upward move.
Our primary target is the Weekly Fair Value Gap close. Once this target is reached, we will reassess the situation to determine whether the price will continue upwards or face a sell-off. This reaction will guide our next positioning. For now, our strategy is to aim for the gap close and position ourselves accordingly.
Additionally, when we examine the Liquidation Heatmap for Filecoin, we notice several liquidations above our current level, specifically between $6.35 and $6.65, just above the recent high. This indicates two possible scenarios:
Liquidations Triggered and Pullback: We might move up to trigger these liquidations, then experience a deeper pullback.
Liquidations Triggered and Continuation Upwards: Alternatively, we might fill our current support levels and then move upwards towards these liquidations.
If these liquidations are absorbed, we could either shoot through and continue upwards, or we might pull back after triggering them, leading to a potential continuation to the downside.
It's important to be aware of these scenarios. Given that there are few liquidations below the current level, we do not expect significant downward wicks or deep pullbacks.
Looking at Filecoin on the VWAP chart, we observe a sideways movement where the price repeatedly moves up and down but always returns between the 2024 Q1 VAL and the 2023 Q4 VAH. These two levels appear to be holding as our current range.
We expect a small pullback, supported by the 2024 Q2 VAL and the 2023 Q4 VAH. These should act as our support zones on the VWAP chart. On the upside, our target is the 2024 Q1 VWAP at $7.70. Above this level, we anticipate resistance around $9.32.
This analysis suggests a short-term strategy of buying at the support levels and targeting the identified resistance points.
JD.com (JD): Key Levels to Watch Amid Potential BreakoutFor the Chinese stock JD.com listed on the Nasdaq, we observe a significant pattern. Initially, we had a prolonged sideways movement that concluded with an initial surge, establishing the current resistance zone. This zone held twice before the price fell through.
Starting from point X in our Elliott Wave count in November 2018, we saw a rapid increase of approximately 470% in a short period. However, this was followed by a steep sell-off, leading to the formation of Wave (2) within a trend channel.
The correction's time horizon places it in the perfect zone, typically between 2 and 2.618 on the higher time frame, which is a good indicator that this could indeed be Wave (2). To continue the upward movement, it is crucial for JD.com to flip this resistance zone.
The current question is whether the price will first return to the High-Volume Node Point of Control (POC) or break out upwards directly. Flipping the support-resistance zone will be key for any significant upward momentum.
We'll be closely monitoring these levels to determine the next move.
Zooming in on the 12-hour timeframe, we can observe the scenario at the end of the assumed Wave (2). This pattern is characteristic of what we like to see at the conclusion of Wave 2. Initially, we experienced an accumulation phase, which transitioned into a manipulation phase, followed by an expansion phase. This sequence is generally a positive sign.
Currently, we are witnessing a pullback after touching the resistance level. Despite this, we maintain our outlook that the price should continue to rise and not retest the $20 mark.
There's a breakout gap that partially filled but remains open near the bottom. This gap formed just before we entered the expansion phase, and it's a critical point to consider.
Given the ongoing volatility in the Chinese market and the uncertainty among investors, we remain cautious. We are closely watching how JD.com behaves within the $24.50 to $26.80 range. With a drop towards the gap close near $21, we will consider making significant buys.
If the price breaks out upwards, we will look for opportunities to enter positions.
Consistent Daily Trading Strategy for NZD/USD with 100% Win RateDescription:
In this strategy, I employ a consistent daily trading approach for NZD/USD, focusing on capturing small profit targets while maintaining strict risk management. The strategy has been backtested from the year 2021, demonstrating robust performance with a 100% win rate. Below are the key aspects and performance metrics of the strategy.
Strategy Overview:
The strategy is designed to open a new long or short position at the start of each trading day based on the previous day's market conditions. Key parameters include:
Profit Target: 0.3%
Loss Target: 0.2%
Initial Capital: $1000
Commission: 0.1% per trade
Key Features:
Daily Trading: Positions are opened at the start of each day, ensuring regular market participation.
Profit and Loss Targets: The strategy aims for a modest profit target of 0.3% and enforces a stop-loss at 0.2% to manage risk effectively.
100% Win Rate: Over 36 closed trades, the strategy achieved a 100% win rate, highlighting its consistent performance.
Dynamic Position Management: In case of a short position stop-loss, a new long position is immediately opened to replace it, ensuring continuous market exposure.
Performance Summary:
Net Profit: $222.05 (22.2%)
Gross Profit: $223.26 (22.33%)
Gross Loss: $1.22 (0.12%)
Max Run-up: $236.99 (19.17%)
Max Drawdown: $161.35 (13.75%)
Buy & Hold Return: $316.51 (31.65%)
Sharpe Ratio: 0.266
Sortino Ratio: 2.298
Profit Factor: 183.136
Total Closed Trades: 36
Number Winning Trades: 36
Percent Profitable: 100%
Avg Trade: $6.17 (0.57%)
Largest Winning Trade: $21.12 (1.96%)
Commission Paid: $80.15
Chart Explanation:
The chart plots the entry prices for both long and short positions, along with labels indicating the profit/loss percentages for ongoing trades. The strategy's performance is visually represented, showing the consistency and reliability of the trading approach.
Green Lines: Entry prices for long positions.
Red Lines: Entry prices for short positions.
White Labels: Display current profit/loss percentage for ongoing trades.
Conclusion:
This NZD/USD trading strategy offers a balanced approach to daily trading with a strong emphasis on risk management and consistent profitability. It is suitable for traders looking for a systematic and disciplined trading methodology.
Give this strategy a try and share your feedback! Let's discuss its potential improvements and share insights on its performance.
Trading Psychology: How to trade economic data.As traders, one of the biggest challenges we face is deciding what factors to consider when opening a trade: should we base ourselves on charts, news, macroeconomic data?
Many opt for a combination of all these elements, and although all traders go through the same stages, there are different routes to success. The problem with following the crowd is that you end up doing exactly what everyone else is doing.
The solution: forge your own path, with all the challenges this entails.
Most traders follow the news, analyze the data and then compare them with the charts to try to determine the best entry point. And as if that were not enough, they often seek the opinion of other online traders to confirm their decision. However, consulting the opinions of others can be counterproductive, as they can alter, for better or worse, any personal opinion about the analysis we are conducting.
We always tend to think that others know more than us and that if they think differently, it must be for some reason and that we will not be the ones who are right.
This is just another example of market psychology and the human tendency to always follow the crowd, regardless of whether it is right or not.
I believe that in order to make a living from trading, research must start with yourself, it is essential. And this is necessary to confirm or refute the information with which the market bombards us every minute.
You need very intense training and experience to make a living from trading.
How many traders trade intraday based on economic calendar data? How many really make money? It’s not worth it.
Aware of the multitude of traders who congregate around the platform at key times, market makers have all kinds of tricks. Their favorite; the sweep. Up, down and both sides at the same time.
Is a mental stop better? In my case, no. I don’t know how mentally strong you are, but the word says it all: mental-stop. When you expose yourself to letting the mind think, you are entering dangerous psychological terrain and it is very difficult, if you are losing, to close with discipline in each and every operation.
Notice that I say in each and every one, because with not respecting a single one and that the price does not return in that operation to the entry point, it will be your elimination as a trader.
Therefore, anything that can cause a loss is worth discarding.
Greed doesn’t let you, we know that with a data in favor of our position you can make a lot of money but if the data is contrary and also forms a gap, no one will save us. And let’s not talk about if you are leveraged. Being leveraged and having the position run against you is one of the hardest experiences a trader can have.
Seeing how your capital is destroyed at forced marches, how losses increase, how you are not able to close because you expect a recovery to do so is dramatic.
Realizing that first loss, which at first seemed big to you and now doesn’t seem so much. You would “kill” to lose only that.
Then, once you are losing a lot you will no longer be able to close. There comes a time when you assume it and let the losses run as far as they go. You have accepted it. You risk the account in the hope of recovering.
This means hours of waiting for the desired recovery. In addition, the market is very rogue. After the fall comes the rebound, usually up to half. You get the idea that it is going to recover completely and instead of closing you hold on to see if the moment comes when you no longer lose anything.
The market will make you believe that this is going to happen. You may even average (add more positions) so that the recovery is faster and by the way, if the price goes beyond where you have opened the first operation, you even come out with profits.
But, as I say, the market is very cruel and when you start to dream and have hope again, it turns around and falls with even more force if possible, crushing your account and destroying your morale.
The result we all know. If the account does not have enough capital to withstand the bleeding, margin call will “come to see us”. And if it does, it will take you days, weeks, months or even years to recover your capital, if you do. Days, weeks, months and even years without liquidity to do what you like the most, trading.
In view of this, stoploss, as well as avoiding any situation that makes you lose is more than justified.
USDJPY MAY RISE !!!!!www.tradingview.com
USDJPY May Rise!
On the H4 chart, the USDJPY has formed a symmetrical triangle pattern. The price has broken above the trend line and is currently testing a significant resistance zone. A short-term bullish trend could be anticipated if the price manages to break above this resistance level.
🔼 Trade: Consider buying USDJPY on a breakout above 156.500;
🎯 TP (Take Profit): Target at 158.000;
xauusd recent analysis based on market movementsfrom the volatile market movements in us section 2407 now acts as a major pivot. any movements above this section will be a buy upto the area of upper interest 2450 and breach of this pivot will draw market down passing various supports down to 2376.
PIVOT 2407
RESISTANCE 2427, 2436, 2449, 2463
SUPPORT 2407, 2400, 2397, 2392, 2383, 2376
support like share and follow us
The art of trading: The Power of SpecializationYou’re never going to find a trading technique that is 100% reliable.
But you can become a specialist using a single specific technique.
The one you have the most affinity with will always work better. It doesn’t matter if it’s the best or the worst, don’t waste your time on that. Just look for one you like and evolve it, perfect it to the beyond… Make it yours! Only yours! Personal and non-transferable.
The more you perfect a technique, the more reliable you make it, the higher percentage of reliability you get.
Remember Bruce Lee’s saying: “I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.”
Try to be good at something and not mediocre at everything.
Therefore, choose that strategy that you like the most and develop it. Always operate with it, perfect it, personalize it, get used to it, look for its strengths and weaknesses…
Now do a test:
Look only for channels in the chart and trade with them for a week using any Time Frame. You’ll tell me the results.
XAUUSD UPDATE (Risky-ShortTrem Setup)
Hey team Hope you are Enjoying our ideas and Analysis, Today in Trading Session we are monitoring XAUUSD Looking for Bearish But there is Alot of Risks in Bearish Because That Breaks all Support levels....
XAUUSD (UPDATE)....!!
RISKY SHORT FROM ALL TIME HIGH..
Gold is trading in a Strong Uptrend but the price Failed to reach the Supply Zone 2438-2445, Which is also a Resistance Level which in Turn indicates that the market is likely that we will first see a Bearish reaction on Gold from the Resistance
Good luck Guy's.....
NU Holdings Options Ahead of EarningsIf you haven`t bought NU before the previous earnings:
Then analyzing the options chain and the chart patterns of NU Holdings prior to the earnings report this week,
I would consider purchasing the 11.50usd strike price Calls with
an expiration date of 2024-5-17,
for a premium of approximately $0.67.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
DOCS Doximity Options Ahead of EarningsIf you haven`t bought DOCS before the previous earnings:
Then analyzing the options chain and the chart patterns of DOCS Doximity prior to the earnings report this week,
I would consider purchasing the 25usd strike price Calls with
an expiration date of 2024-6-21,
for a premium of approximately $1.15.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
GOTU Gaotu Techedu Options Ahead of EarningsIf you haven`t bought GOTU before the previous earnings:
Then analyzing the options chain and the chart patterns of GOTU Gaotu Techedu prior to the earnings report this week,
I would consider purchasing the 9usd strike price Calls with
an expiration date of 2024-7-19,
for a premium of approximately $1.12.
The chart looks bearish, but my bet is on a China recovery this year!
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Buy low sell fast strategyThe main idea of the strategy is that in the event of a sharp unexpected drop, coins usually grow back quite quickly. We simply draw a short SMA, and when the price deviates significantly from it, we buy, and when it returns, we sell.
We cannot buy every drop; it must be quite strong and sharp. If you buy early, you can buy at the beginning of a downtrend and sit in the position for a long time. Trying to buy very low will result in few trades.
However, you can trade several coins at the same time, and if you choose the parameters, you can get a stable profit.
If BTC Goes Like ThisIt Speak Eloquently
Currently, the strategy I've written is showing the best entry point for a long position.
You could say we are at the market's floor; if the strategy I've prepared for it happens, I'll make good profits.
We'll see.
There's no miracle in the market; the market goes its own way.
I've incorporated what I've learned into my strategy, thanks to neural processing unit.
Exploring Auction Market Theory in Forex TradingAuction Market Theory (AMT) is a conceptual framework used to understand the dynamics of financial markets, viewing them as auctions where buyers and sellers interact to determine prices.
Although the AMT was initially developed to understand & analyse price action movements in the stock market, some of its core concepts can also be applied to any market, including forex.
Within the forex market, currency pairs are traded 24/5, with price driven by a multitude of factors such as economic data releases, geopolitical events, and market sentiment. Despite this complexity, AMT provides a framework for understanding market dynamics through the concepts of value, balance, and imbalances .
Value represents the equilibrium price at which buyers and sellers agree on the fair value of an asset. Market balance occurs when supply and demand are roughly equal, resulting in stable price ranges, while imbalances arise from deviations from this equilibrium due to shifts in market sentiment or unexpected events. These imbalances can create trading opportunities for astute traders who can identify them and act accordingly.
Lets now take a look into how this can be visually identified on a line chart using only price action.
Example 1
On the left, we can see an area of market balance. This is usually evident when the market is range bound as we can see in this case.
The midpoint of the range is the point of equilibrium. Value can be interpreted as the equilibrium price at which buyers and sellers agree on the fair value of a currency pair.
This equilibrium is constantly shifting as new information becomes available and market participants reassess their expectations.
When these expectations shift as a result of either economic data releases, geopolitical events, and/or market sentiment, price shifts away from the balanced price range and creates an imbalance within the market.
Identifying value areas are important because these can act as an area of future support/resistance for price. Notice how in this example, after price displaces from the balanced range, it later came back and found support near the fair value within that range.
Practical Application
One practical application of AMT in forex trading is through the analysis of price action and market profile. By observing how price behaves at different levels and how volume interacts with price movements, you can gain insights into market sentiment and potential areas of support and resistance.
For example, if a currency pair consistently fails to break above a certain resistance level despite multiple attempts, it may indicate strong selling pressure at that level, presenting an opportunity for short trades. Conversely, if a currency pair finds strong support at a particular price level, traders may look for buying opportunities as the market reverts to equilibrium.
To conclude, Auction Market Theory offers a valuable framework for understanding the dynamics of the forex market. By analysing price action, volume, and market profile through the lens of AMT, you can gain a deeper understanding of market sentiment and identify potential trading opportunities. While no theory can guarantee success in trading, incorporating Auction Market Theory into your analysis can help you make more informed trading decisions.
Please leave a comment if you've found this post helpful or if you have any questions.
Happy Trading
GOLD heading for double top?We have seen price break from longterm triangle pattern and is now breaking out of a secondary flag pattern. We are surely bullish now and price is targeting the highs.
On the daily price has rejected the 50% fib level so I expect a double top to form if not more past that. But for now a double top.
Now we wait for further confirmation of the break and play for the up move.