Pre-event price action:
Trend within trends on the smaller timeframes
Patterns that conflict each other - You may get a H&S but with that is a double bottom for example. They do this intentionally to get traders committed to the wrong direction
Ranging price staying close to short term MA's
Swings and spikes all of a sudden - This is a stop loss hunter activation taking liquidity from the high and low of a potential range
Ask yourself these questions:
Do I understand intra-day levels?
Do I understand pre-event price action?
Do I understand trading with ranges and price accumulation?
Do I have a risk model that protects me and my account no matter where the price goes?
Trend within trends on the smaller timeframes
Patterns that conflict each other - You may get a H&S but with that is a double bottom for example. They do this intentionally to get traders committed to the wrong direction
Ranging price staying close to short term MA's
Swings and spikes all of a sudden - This is a stop loss hunter activation taking liquidity from the high and low of a potential range
Ask yourself these questions:
Do I understand intra-day levels?
Do I understand pre-event price action?
Do I understand trading with ranges and price accumulation?
Do I have a risk model that protects me and my account no matter where the price goes?
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Difficult to hold so you either level to level scalp it, or you set the TP and SL and leave the chart alone. Either way, it hasn't targeted the weekly high so far so those entries from above are safe. Any entries now need to be protected as we approach the key level support below.
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Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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We're done, no more trading, no longs, no shorts!!
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That's enough until FOMC is over and done with. Respect the market, have the discipline to know when you've taken enough from it.
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Correction - Unless you're already holding protected and managed trades from above.
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Find us on:
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There is an option to contact us on the the website if you have any queries
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https://twitter.com/KnightsOfGold2
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We appreciated all your likes, follows and comments. Give us a follow, share the group and keep up to date with KOG.
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Knights of Gold (Gold/FOREX Analysis/Trade ideas)
We trade level to level. Follow at your own risk. Always use a sensible stop loss. Strictly for educational purposes, not trading advice. We are showing you what we analyse and how we trade the markets.
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