Greetings...
My idea for this thread is to focus on gold/silver position trading, primarily the weekly/monthly time frames.
If you are changing direction in your trading every minute, hour, day, week, or month, this is not the thread for you, since most of the time, those higher time frames will sustain one direction for many months (unless there is a range in play). Those of us who fit in to this thread category will stick to that direction until it changes.
How do we pick the direction?
Very simple, price is making HHs or LLs on the weekly or monthly time frame. We go with that trend until it reverses.
We will not try to "guess" when price will reverse and the trend will end. We will not try to pick a top or bottom of the trend. The only time we will "pick a top or bottom" is if we are entering the market "with trend" on a pull-back or retrace of that trend.
My idea for this thread is to focus on gold/silver position trading, primarily the weekly/monthly time frames.
If you are changing direction in your trading every minute, hour, day, week, or month, this is not the thread for you, since most of the time, those higher time frames will sustain one direction for many months (unless there is a range in play). Those of us who fit in to this thread category will stick to that direction until it changes.
How do we pick the direction?
Very simple, price is making HHs or LLs on the weekly or monthly time frame. We go with that trend until it reverses.
We will not try to "guess" when price will reverse and the trend will end. We will not try to pick a top or bottom of the trend. The only time we will "pick a top or bottom" is if we are entering the market "with trend" on a pull-back or retrace of that trend.
