Thought I posted this already!
NICE - Already a ten USD appx. swing right outta the Gates of Aussie! She will indeed now want to retake that price and flip it to support.
I believe 1280 was in many post before, didn't think we'd be here this fast did you guys!
I'm telling you with the shorts already, find a pullback, assess the market - the support and resistance, risk reward - that should take all of 15 minutes to do it right,
or the market assessment should already be done before trading.
ANy way, wait for a dip, on a nice retracement or correction, grab a long with some wider limit/stops set and get on and ride. When the market is trending as it is now it is easier to go WITH THE FLOW and will produce Longer more profitable trades, rather than trying to outsmart it. Trading against the flow is always higher risk, shorter trades, more losers, more stress, constant watching.
I would have said the same thing to people trying to go long when the market was in "free fall" after 1550 finally broke. Wait till we bottom out, short, or stay out.
Now we are here, a double bottom on the daily and weekly, and since the last bottom @ 1187 price (long entry 1 @1190.xx) has been trending with nice peaks and valleys - plenty of opportunities to enter. What did I have to do for my trade so far? Be patient to get the entry, watch the market NOT 24/7 just monitor the position and trend, oh and take profit at my targets. Last thing I did was add on.
NICE - Already a ten USD appx. swing right outta the Gates of Aussie! She will indeed now want to retake that price and flip it to support.
I believe 1280 was in many post before, didn't think we'd be here this fast did you guys!
I'm telling you with the shorts already, find a pullback, assess the market - the support and resistance, risk reward - that should take all of 15 minutes to do it right,
or the market assessment should already be done before trading.
ANy way, wait for a dip, on a nice retracement or correction, grab a long with some wider limit/stops set and get on and ride. When the market is trending as it is now it is easier to go WITH THE FLOW and will produce Longer more profitable trades, rather than trying to outsmart it. Trading against the flow is always higher risk, shorter trades, more losers, more stress, constant watching.
I would have said the same thing to people trying to go long when the market was in "free fall" after 1550 finally broke. Wait till we bottom out, short, or stay out.
Now we are here, a double bottom on the daily and weekly, and since the last bottom @ 1187 price (long entry 1 @1190.xx) has been trending with nice peaks and valleys - plenty of opportunities to enter. What did I have to do for my trade so far? Be patient to get the entry, watch the market NOT 24/7 just monitor the position and trend, oh and take profit at my targets. Last thing I did was add on.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News