Dislikedhello guys. i'm new here. just started trading gold and having a really hard time studying behaviour of gold.. my demo and live account have win and lose ratio of 1:1. not so good for me. i'm just trying to get a simple indicator to match gold behaviour. is that anyone here using murrey math line for gold chart? is it relevant enough? been trying so many indicator to get SR lines right and how the trend goes..but nothing hold more than a week for me..next week of gold will show very different behaviour and i'm trading short term,,mostly entry/exit...Ignored
I think drawing your own lines is better; as it takes into account recent price action more accurately as oppose to murrey lines; pivot points etc... Perhaps you can use these types of studies as an addon for confluence...