XAUUSD Buy (Daily chart)> Buy order
This direct buy order is an additional order to the buy limit order (see related ideas below), to make sure I'm in this high probability move.
So the limit buy order is placed to double my position with lower risk and higher risk/reward, which is more favorable over simply doubling this direct buy order.
So the limit buy order is placed to double my position with lower risk and higher risk/reward, which is more favorable over simply doubling this direct buy order.
Trade closed: stop reached:
A big red bar on Monday. Feels like a slap in the face :(
Well, probably it was too early to change direction, but the three green bars were too far up to call them insignificant (in my opinion). That's why I placed the trade, also in comparison with previous turn arounds (see image)...
But for know we have to learn from this "mistake". Maybe the third green bar wasn't significant enough. Please leave a comment below about why you think this trade went against us this way! Or is this just the other side of a high propabilty trade, and that this one can't be avoided. Please let me know!
Well, probably it was too early to change direction, but the three green bars were too far up to call them insignificant (in my opinion). That's why I placed the trade, also in comparison with previous turn arounds (see image)...
But for know we have to learn from this "mistake". Maybe the third green bar wasn't significant enough. Please leave a comment below about why you think this trade went against us this way! Or is this just the other side of a high propabilty trade, and that this one can't be avoided. Please let me know!
Second: If it breaks through the 1300 level, it will probably be a spike like in previous structures (see picture below) and wouldn't last for long. Although that looks like an extra opportunity, I wouldn't recommend trading it, because the height of the possible spike wouldn’t be very predictable.