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Mirror levels, How it can save you years and thounthends of USD.Today I want to share with 1 one type of key levels and also explain why it's so profitable for you to use it. This knowledge will save you years in trading and thousands of dollars. For a start lat`s discuss some fundamental rules in trading: 1. We trade probabilities. It means it's impossible to say with 100% accuracy current signal will close with profit or not but it's possible to say that if we open 100 entries we will close 50% ... 60% or 70% entries in profit. 2. You don't need to hunt for 100% accuracy. That's one of the most common mistakes of freshers because if you will learn what is Risk / Reward you will understand how really you can make money in trading. You can be profitable even if you have 30% — 40% of profit deals if you take enough risk/reward. Example of risk-reward. Just imagine that you have a risk per 1 position $100 and you always set potential profit (Risk/Reward (R/R)) 1 to 4 (in 4 times bigger) $400. If you will get 3 losses and 1 positive entry you still will be in profit. Calculations: -$100 -$100 -$100 + $400 = +$100. It is only 25% accuracy. 3. You always need to use the same risk per 1 position only in that case your mathematical expectancy will work. I will write more about it in the future posts if this idea will get more than 100 like. When we trade key levels we get: - Accurate entries. - Low predictable risk. - Potential profit is in many times bigger than a risk. Mirror level is: Support become Resistant or Resistance become Support . How you can find a mirror level? Drow key level and wait when the price will break it. Below I will show you how I do it. Key levels better to build on: - Trend change points - Many daily candles bounced from one level. It will be the most powerful levels which accumulate a lot of volumes. Examples: EUR/USD: Gold: SP 500: OIL : BTC/USD: You can see that this system works on all markets. P.S. It is only a first part about mirror levels. I will write more about: how it`s better to find levels on a chart, meanig of it and how big players accumulate volume using such type of key points if this post will reach 100 like. P.P.S. Write in comments about what questions you have about Mirror levels.
Education
by Yuriy_Bishko
21
GOLD (XAU/USD), Trading Plan. As I wrote on the previous GOLD idea, it bounced up from a key level $1282 goal is $1306 Near $1306 could be a great sell entry, because: — It is level from which price started downtrend half-year ago and move 15000 pips down. Mostly market respect such levels. That's why I think about sell from $1306 goal will be 200–400 pips. I will open Sell if the price will confirm it ONLY. After 100 like I will do all updates and will write S/L and T/P points it there will be an entry.
TVC:GOLD
by Yuriy_Bishko
3