Sell off? Why would you panic when a trade go against you. Research Done ! Execution Done ! No SL Trade more than you could loose. 30% 50% 100% SL too near. Calc lot size too big. Impatience. Unless you have an EA.. all those you'll hv to do yourself. Ok.. not a guru
Yeah.. some thing I learnt from TT yesterday Eye opening.. It's not about perfect. It's about rationale of decisions. From chart of yest record. You will know = concentrated volume and price It's in your toolbox: FIXED RATE VOLUME PROFILE put the range from open to close yest So now.. you will have a price. | rationale: if bulk of trades done at that...
Before you decide to press BUY ? SELL ? 3 things you ll need to align. (at least for me) Fundamental- your bias- will Pound be stronger than Yen visa versa check news.. incoming data bla2. Pattern - anything you like to support bearish/bullish Compensation - will your SL be enough to Targets 1:3 1:5 1:200 whatever... Next will be your patience.. either...
1st lemme remind myself that.. Price of gold is within.. what I call parabolic curve. AND it is still an up trend. So why did it selloff? I would say.. When there're money made .. say buyers of 2800, it's good to cashout some. Tomorrow is a good day to find out. I have only 1 scenario for a lookout. Mark today HIGH . If the tomorrow price tends to test...
rebound? Possible new highs? The structure that I have is double bottom , respected. It's too simple to comprehend; Maybe overlooked/ignorance to find holly... If this patterns fails it's ok. Matter of following another setup. Manage well.. if it overruns this.. find another. All the best.. n me not a guru PS/ catchy headline isn't it :) fun..part of...
I have bearish outlook till end of month. Price needs to break support to begin with idea. This idea will invalidate once high are broken. I think shift from safe haven asset to riskier S&P DOW and stock market in europe. Do not take my word, I'm not guru. Just my observation. All the best
Strong levels. Needs to be broken/respond. We cant be acting on everything. my POV is we are never in control. Price is always right. We only have theories.. and theories never work 100%. We have capital that we control 100%. Capital control= money management + theories that could work % better