TVC:GOLD   CFDs on Gold (US$ / OZ)
3.26.20 TRYING TO WORK WITH VERY EARLY PRICE ACTION CHANGES IN A MARKET: LOOKING AT PRESSES ON DAILY CHARTS: This was a tough video to make, but I think I managed to get to the key points that were important to me. You will not understand this unless you listen a couple times and think about it for a while. The video has a lot of detail in a market that has barely moved for two days, and I am trying to put order to the changes over the two days by looking at two different time frames... and each time frame creates a different impression at times. My mission when I look at a chart is to read the chart and make some sense of it, and then the next decision is whether or not I have a trade. In this example if I were a scalper I would go a long at the bottom of the range box or take no trade at all. There is more to this for another time. I find it useful to look at presses specifically on daily charts and weekly charts. It is my belief that if you learn to look for presses on a daily chart and weekly chart you will begin to recognize some hidden value because1-3-5 patterns are buried in them. I did not talk about these patterns in the video, but I will in the future as I have in past videos. It is my guess that there are traders out there who can look at daily charts and scalp the markets better looking at daily charts than most traders scalping the markets using 30 minute charts... not all of the time but much more often than you might suspect. Listen a couple of times, draw some lines in your chart, and I will expand the idea when gold produces more price bars.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.