Knights of Gold (Gold/FOREX Analysis/Trade ideas)
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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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Price is a series of test on levels. It creates trends or ranges but will always do the same thing. Once we understand this we know it's not the market that is the problem, its us, the trader. If we learn it's behaviour all we then need to do is make sure our money and risk management is up to scratch. It's never 100%, but if we test a level, it breaks, structure suggests it's going against us, don't hold on to hope, or add more in the direction you intended.
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This isn’t rocket science and this isn’t hard, it just takes persistence, time and focus together with risk management. β€œBe a manager or risk before you become a trader”. That is the hardest part for most new traders, they over leverage, commit too much in one place and then trade with no risk model. The market knows this and will use this to their advantage. One of the biggest wins for me is sitting there after taking a small loss, watching price go in the opposite direction knowing that if I didn’t take that loss my account would be in big trouble. Think about it! That’s part of our game, wins and losses, we understand both, we know we need both but we know as long as we win more than we lose, we’re up!
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We need to break back below 2665 to go lower
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Otherwise, we've taken nearly 100pips upside, 50pips down so far. That's us done on Gold targets, traders can now switch to the red boxes for the scalps.
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Red box banger!
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