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  • #9,941
  • Jun 20, 2023 3:42am Jun 20, 2023 3:42am
Quoting parveenverma
{quote} I am not agree with last line of post. If you are assuming trading a 95% guess work than you are gambling.I am not giving you a advice but just one cent suggestion.....Do not try too much in you trading. Adopt 2 trading systems that not should be based on indicators or EAs. One should be traditional and another one latest. Study them deeply and try first on demo account. If you found good results then believe them and fully rely on them. Do not fell in anybody's shout only listen that your trading system said and trade confidently. I hope...
Thanks...I don't use indicators as they confuse me even more. I think what is making it so difficult is this range it's been in for 5 weeks.
  • #9,942
  • Jun 20, 2023 3:42am Jun 20, 2023 3:42am
Good afternoon, traders. What to do with gold today?
My view is still to maintain the long idea.
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Just follow the trend.
  • #9,943
  • Jun 20, 2023 3:59am Jun 20, 2023 3:59am
Quoting MrFanciful
{quote} ... I think what is making it so difficult is this range it's been in for 5 weeks...
I don't know, maybe you enter to early on a trade, and don't wait to see it get completed? As of trading 5m/15m chart and you don't zoom out into a higher time frame? Or you get out to early from a trade, as it goes against you and you close it before it has a chance to turn?
Happend to me too also with this, and also with getting closed of by margin and so on.
Your 6 years should bring you the confidence to rest a few days maybe and look at where you entered wrong, type it down and start fresh over.
No financial advise, only friendly one!
God bless!
Keep trading and learning or keep learning and trading!
  • #9,944
  • Jun 20, 2023 4:09am Jun 20, 2023 4:09am
Quoting MrFanciful
{quote} Thanks...I don't use indicators as they confuse me even more. I think what is making it so difficult is this range it's been in for 5 weeks.
That's why you need to be flexible in forex trading. These days Gold is trading in very non predicative mode.Hourly is changing its trend almost daily so better to book you profit time to time. Short scalp trading can become better option than position trading these days.Trade safe
  • #9,945
  • Jun 20, 2023 4:18am Jun 20, 2023 4:18am
Quoting arthurbolbos
{quote} I don't know, maybe you enter to early on a trade, and don't wait to see it get completed? As of trading 5m/15m chart and you don't zoom out into a higher time frame? Or you get out to early from a trade, as it goes against you and you close it before it has a chance to turn? Happend to me too also with this, and also with getting closed of by margin and so on. Your 6 years should bring you the confidence to rest a few days maybe and look at where you entered wrong, type it down and start fresh over. No financial advise, only friendly one!...
Thanks.

I trade 4hr S&R. I drop to the 15 & 5 minute timeframes for entry. I now I have a problem of trying to guess the bottom/tops which does cause me to enter too early as you said. The screenshot below is what I see at all times. The screenshot is obviously not in my S&R zones but the same logic applies. As a result I end up trading in both directions.

I have buy positions open from the bottom support zone and sell positions open from the resistance above. In all likelihood, price will break either the resistance above allowing my buy positions to run, or price will go below Support allowing my sell positions to run.

Personally, I think gold is more valuable than a promise made by the US Government, so I'm bullish. But it doesn't matter what I think, what matters is what the Market Makers think.
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  • #9,946
  • Jun 20, 2023 4:20am Jun 20, 2023 4:20am
I have very simple method to check whether the market is trending or not or what direction it moves

step 1: check the 3rd candle/5th candle close and mark it
setp2: the last two candle high & low should not touched the 3 rd candle close
step 3 if the price trade below the 3rd candle close --BEARISH VIEW // IF price trade above it -bullish view
this is my view of identifying the trend ..

Note : I use some times 5th candle close if the price in conjunction
  • #9,947
  • Jun 20, 2023 4:26am Jun 20, 2023 4:26am
I've picked a bias and just going in that direction. I've closed out my opposite trades and if I get stopped out, so be it. I'll wait for the next S&R zone and watch from there.

Thanks for all the support you guys give btw. You're good people.
  • #9,948
  • Jun 20, 2023 4:31am Jun 20, 2023 4:31am
Quoting chartistpro
I have very simple method to check whether the market is trending or not or what direction it moves step 1: check the 3rd candle/5th candle close and mark it setp2: the last two candle high & low should not touched the 3 rd candle close step 3 if the price trade below the 3rd candle close --BEARISH VIEW // IF price trade above it -bullish view this is my view of identifying the trend .. Note : I use some times 5th candle close if the price in conjunction
This candles you mentioned are on what TF
30m or 4hrs
  • #9,949
  • Jun 20, 2023 5:02am Jun 20, 2023 5:02am
Looks like I picked the wrong side.
  • #9,950
  • Jun 20, 2023 5:03am Jun 20, 2023 5:03am
Quoting sandeeprandh
{quote} This candles you mentioned are on what TF 30m or 4hrs
15Min and above ( i used mostly15Min TF for day trading )
  • #9,951
  • Jun 20, 2023 5:16am Jun 20, 2023 5:16am
70% of my account lost since yesterday morning. Lost 91% of my trades
  • #9,952
  • Jun 20, 2023 5:21am Jun 20, 2023 5:21am
Quoting chartistpro
I have very simple method to check whether the market is trending or not or what direction it moves step 1: check the 3rd candle/5th candle close and mark it setp2: the last two candle high & low should not touched the 3 rd candle close step 3 if the price trade below the 3rd candle close --BEARISH VIEW // IF price trade above it -bullish view this is my view of identifying the trend .. Note : I use some times 5th candle close if the price in conjunction
3rd/5th candle from day open?
  • #9,953
  • Jun 20, 2023 5:24am Jun 20, 2023 5:24am
1953.04 level still valid. 4H closed below the level signaled a short term sell up to daily support. Trade safe
  • #9,954
  • Jun 20, 2023 5:27am Jun 20, 2023 5:27am
just 10 cent ideas
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Look right, we'll see the signs
  • #9,955
  • Jun 20, 2023 5:29am Jun 20, 2023 5:29am
Quoting azhantahir
just 10 cent ideas {image}
Exactly there is my Daily support.Trade safe
  • #9,956
  • Jun 20, 2023 5:38am Jun 20, 2023 5:38am
Quoting parveenverma
{quote}Exactly there is my Daily support.Trade safe
running
Look right, we'll see the signs
  • #9,957
  • Jun 20, 2023 5:39am Jun 20, 2023 5:39am
Quoting azhantahir
{quote} running
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Look right, we'll see the signs
  • #9,958
  • Jun 20, 2023 5:40am Jun 20, 2023 5:40am
Quoting parveenverma
{quote}Exactly there is my Daily support.Trade safe
Ok Guys ....Book some quick profit and now London Session Done. Let's see what the NY says. Now rest for some time and connect again in NY session.Trade safe
  • #9,959
  • Jun 20, 2023 5:42am Jun 20, 2023 5:42am
Quoting azhantahir
{quote} running
Booked my short sell already Dear.Trade safe
  • #9,960
  • Jun 20, 2023 5:45am Jun 20, 2023 5:45am
Quoting azhantahir
{quote} {image}
next OB and FVG
Attached Image (click to enlarge)
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Look right, we'll see the signs
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