Trading through accumulation:
There is an important point here when I put myself in the shoes of a new trader. I'm pretty sure some of you are sitting there confused by the markets and not sure what to do. This is when frustration kicks in and FOMO starts to develop. The market is your employer, but you're a consultant! You should work when you want to work, not when the market wants you to work. The market will usually want to employ you in conditions like this, that of choppy price action and ranging play. This is the time they accumulate orders and want to get you in the wrong direction before they make the actual move, the move that professional traders are sitting quietly waiting for. When I say level to level, scalps only, that's what I mean, if you're confused, less experienced, not confident in scalping or only trading levels without target indications, you should be sitting out! Sitting out is a huge part of trading, it's part of the profession and to be honest, although boring (which trading should be) it's what we're doing most of the day
There is an important point here when I put myself in the shoes of a new trader. I'm pretty sure some of you are sitting there confused by the markets and not sure what to do. This is when frustration kicks in and FOMO starts to develop. The market is your employer, but you're a consultant! You should work when you want to work, not when the market wants you to work. The market will usually want to employ you in conditions like this, that of choppy price action and ranging play. This is the time they accumulate orders and want to get you in the wrong direction before they make the actual move, the move that professional traders are sitting quietly waiting for. When I say level to level, scalps only, that's what I mean, if you're confused, less experienced, not confident in scalping or only trading levels without target indications, you should be sitting out! Sitting out is a huge part of trading, it's part of the profession and to be honest, although boring (which trading should be) it's what we're doing most of the day
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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That's what we wanted following on from yesterday, that level needed to be attacked but the reaction is controlled. If you took the long, go an enjoy the weekend, any shorts now should be level to level unless we see a clean reversal. Plan is still on but they've delayed the move due to the accumulation, so now it's Friday we don't want any positions open over the weekend. Hence, take it level to level.