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When price is ranging:
Don't get used to it, they do this intentionally. They will play the range, get your confidence up until you start increasing your lots sizes, then they'll move and if you're in the wrong direction, they'll take back everything you make and more. When you have a decent day on the markets, don't try and force a trade, your next trade needs to be even more precise than the last one. A mistake traders make is think to themselves, yesterday I made $100, today I can afford to lose $50 and I'm still up. No, because if you lack the discipline to sit out and wait for an A STAR set up, you'll lack the discipline to stop losing when you get to $50.
Don't get used to it, they do this intentionally. They will play the range, get your confidence up until you start increasing your lots sizes, then they'll move and if you're in the wrong direction, they'll take back everything you make and more. When you have a decent day on the markets, don't try and force a trade, your next trade needs to be even more precise than the last one. A mistake traders make is think to themselves, yesterday I made $100, today I can afford to lose $50 and I'm still up. No, because if you lack the discipline to sit out and wait for an A STAR set up, you'll lack the discipline to stop losing when you get to $50.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
https://www.tradingview.com/chart/XAUUSD/mSlKcQdA-THE-KOG-REPORT-Update/
Anyone long from the hotspot, quids in π₯
Key levels for today, 2347 and above that 2360 resistance, while support stands are 2335 which will need to break to go lower. Long trades should be protected and managed, anyone looking to short, levels are to be tested for the scalps only at the moment. NFP week so they may want to range up here until Friday, caution on the markets.
Knights of Gold (Gold/FOREX Analysis/Trade ideas)
π₯
Yesterdays Redboxes done their job as usual. That bounce back up was from the hotspot we shared with you all into the hotspot above completing the move. Thanks for the 33 likes on the idea, really motivates us to share more with you all ππ
Scalps only, it's too early to say whether it's going to move down from here and with NFP looming it's put a bit of a spanner in the works
For now we would say it's been a nice ride upside into the levels we wanted. Unless it's clean, we'll leave it at the trade up and the scalp down
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