sold gold see chart
trading aud and gold [xauusd]
- Thread starter padutrader
- Start date
yesterday, during Eur session,
the price went down massively & decisively.
then reverse direction decisively.
What happened after that?
the price moved in a chaotic / messy / directionless / spiky manner.
This pattern / behaviour is very common.
Give gold sometime to
- cool down / rest
- think what it wants to do next
Gold is like a human. It cannot work and work and work non stop.
gold tends to be very lazy.
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stupid more likely
good point
closed gold short....the problem with gold is risk management.......
long audusd long gold see chart for details
closed all
did a few trades without posting here here is the summary so far.....PF 4 is the highlight
i think the most common and simple startegy/trade is ...buying near low,in an uptrend, betting the resistance will fail, which it almost always does....if it does not fail and the low does then the trend has changed at least for the short term
it is an observation... .you can see traders sell near highs/resistance in a downtrend.....no testing required...... tight stop..non subjective..........do not need to read 4 books and pay 300 usd for video courses
you only need this one ...i have just outlined......it is simple works..and is of course one of brooks set ups...BUT it is not only simple...IT IS NOT SUBJECTIVE
if someone had told me to do this 30 years ago...i would have saved huge money
books are shit ........buy the low..put stop below the low...even if you do this WITH OUT SEEING THE TREND..in the long run your edge may be there......exit when the resistance holds and the support breaks..so EVEN your EXIT IS NON SUBJECTIVE
the main problem in trading is tension....and tension is because of subjectivity.........do you ever see a casino owner in tension?
it is an observation... .you can see traders sell near highs/resistance in a downtrend.....no testing required...... tight stop..non subjective..........do not need to read 4 books and pay 300 usd for video courses
you only need this one ...i have just outlined......it is simple works..and is of course one of brooks set ups...BUT it is not only simple...IT IS NOT SUBJECTIVE
if someone had told me to do this 30 years ago...i would have saved huge money
books are shit ........buy the low..put stop below the low...even if you do this WITH OUT SEEING THE TREND..in the long run your edge may be there......exit when the resistance holds and the support breaks..so EVEN your EXIT IS NON SUBJECTIVE
the main problem in trading is tension....and tension is because of subjectivity.........do you ever see a casino owner in tension?
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