These are ALWAYS AREAS TO WATCH
9
and
20 appx below the round number IE: 1900
Just had a bounce off support, below, DON't get hung up on the psychological Number, it has proven time and time again to be of mere support, rather at times a stronger resistance at times. AND easily passed thru time and time again during any given trading day.
YET,
Below, 9 ie: 1391 / 1380 support for 1400
ie: 1191/ 80 support for 1200
ie: see charts below, LINE charts are extremely true when it comes to support, don't use for stops or TPs due to the reaction highs and lows not shown by the line,
Yet, use for order placement, keep in mind when placing orders you want to get filled, the price may come close to the S/R level, FIBO, Gann, Channel bottom / top, don't be greedy, set an order that will get filled on a dip.
Likewise if you are in front of the CPU place a market order and GET IN if you see the trigger, FIRE, have mental stops and tps in place. A good rule of thumb when taking a trade is risk 1: MAKE :2 better yet if you can risk 1 to make 3...
Yet, 50 to 100 will make you money even if you are only RIGHT 60 % of the time and not overleveraged or over, over over...................
9
and
20 appx below the round number IE: 1900
Just had a bounce off support, below, DON't get hung up on the psychological Number, it has proven time and time again to be of mere support, rather at times a stronger resistance at times. AND easily passed thru time and time again during any given trading day.
YET,
Below, 9 ie: 1391 / 1380 support for 1400
ie: 1191/ 80 support for 1200
ie: see charts below, LINE charts are extremely true when it comes to support, don't use for stops or TPs due to the reaction highs and lows not shown by the line,
Yet, use for order placement, keep in mind when placing orders you want to get filled, the price may come close to the S/R level, FIBO, Gann, Channel bottom / top, don't be greedy, set an order that will get filled on a dip.
Likewise if you are in front of the CPU place a market order and GET IN if you see the trigger, FIRE, have mental stops and tps in place. A good rule of thumb when taking a trade is risk 1: MAKE :2 better yet if you can risk 1 to make 3...
Yet, 50 to 100 will make you money even if you are only RIGHT 60 % of the time and not overleveraged or over, over over...................
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News