Hello all and Good morning , so as i had indicated yesterday while we were waiting for the second signal alert to be activated i did say that Gold had increased momentum towards the bullish side my first indicator confirmed the momentum and i was seated waiting for the second alert to be activated and it was.
The consolidation took almost the whole day on assumption at least 14 hours but then went per my expectation after breakup the consolidation ,increase bullish momentum and hit my first TP at 1936 ,My Second TP 1942 , My Third TP 1948 and even extended further to 1956. which was good but sadly when my alerts were activated i was so held up could not post neither could i enter the market.
So today i have done my analysis and as you all know we just don't enter a market because everyone else is, we enter the markets when we feel safe to trade and at least 75% sure of what we are doing, Anyways GOLD has reached our previous high and extended a little further meaning that it's currently on resistance zone, but you know our drill wait for breakouts and then identify entries.
The possibilities we have today are breakdowns, this could be a very big waterfall my first TP 1942 Second TP 1934 and even further to Third TP 1920,But as we all know we wait, confirm , conclude and then execute.
THE SCENARIOS I EXPECT TO CONCLUDE EITHER MY BUY OR SELL ENTRIES.
1. A bullish candle formed on the upper band , then breaks up my symmetrical triangle is my first indication towards the upward movement ,and when it breaksup my rectangle it confirms the uptrend.
2.A bullish candle formed on the higher side of the upper bollinger band then a close towards the middle band and then a bounces back up to form a higher lower than the previous high indicates bulls loosing momentum so when we see a bearish candle formed on the lower band and we confirm what we stated earlier on this scenario we will have a fall.
3.Price Action matters as well on this, identify who has better momentum between the sellers and the buyers , see how many candles does the bulls have and how big they are also identify how many candles does the bears have and how big they are, once identified you will have an idea of where the market are headed for.
4. A fall towards the middle band and then forms another higher high than the previous could be a continuation.
5. A fall towards the middle band ,then bounces back to the exact previous high then falls back could mean reversal.
6. A fall towards the lower band and bearish candle formation on the lower side of the band means the fall is certain.
7. A fall towards the lower band , formation of bearish candle then bounces back towards the middle band then comes back down towards the lower band but does not pass through the lower band is a continuation, in short when we see 2 or 3 bounces towards the lower band confirms upward momentum.
NOTE: I trade on 1HOUR TIME FRAME which means i hold my positions at least for 5 hours or more but the same can be applied on the lower time frames. Which i gave you the idea of how long you can hold your trades for after entrance according to the time frame you are using. For 1 hour Timeframe you should have the least equity of $3500 and play considerately on your lot sizes, my lot size when its on the higher side then is 2 on the lower side 0.50.
The consolidation took almost the whole day on assumption at least 14 hours but then went per my expectation after breakup the consolidation ,increase bullish momentum and hit my first TP at 1936 ,My Second TP 1942 , My Third TP 1948 and even extended further to 1956. which was good but sadly when my alerts were activated i was so held up could not post neither could i enter the market.
So today i have done my analysis and as you all know we just don't enter a market because everyone else is, we enter the markets when we feel safe to trade and at least 75% sure of what we are doing, Anyways GOLD has reached our previous high and extended a little further meaning that it's currently on resistance zone, but you know our drill wait for breakouts and then identify entries.
The possibilities we have today are breakdowns, this could be a very big waterfall my first TP 1942 Second TP 1934 and even further to Third TP 1920,But as we all know we wait, confirm , conclude and then execute.
THE SCENARIOS I EXPECT TO CONCLUDE EITHER MY BUY OR SELL ENTRIES.
1. A bullish candle formed on the upper band , then breaks up my symmetrical triangle is my first indication towards the upward movement ,and when it breaksup my rectangle it confirms the uptrend.
2.A bullish candle formed on the higher side of the upper bollinger band then a close towards the middle band and then a bounces back up to form a higher lower than the previous high indicates bulls loosing momentum so when we see a bearish candle formed on the lower band and we confirm what we stated earlier on this scenario we will have a fall.
3.Price Action matters as well on this, identify who has better momentum between the sellers and the buyers , see how many candles does the bulls have and how big they are also identify how many candles does the bears have and how big they are, once identified you will have an idea of where the market are headed for.
4. A fall towards the middle band and then forms another higher high than the previous could be a continuation.
5. A fall towards the middle band ,then bounces back to the exact previous high then falls back could mean reversal.
6. A fall towards the lower band and bearish candle formation on the lower side of the band means the fall is certain.
7. A fall towards the lower band , formation of bearish candle then bounces back towards the middle band then comes back down towards the lower band but does not pass through the lower band is a continuation, in short when we see 2 or 3 bounces towards the lower band confirms upward momentum.
NOTE: I trade on 1HOUR TIME FRAME which means i hold my positions at least for 5 hours or more but the same can be applied on the lower time frames. Which i gave you the idea of how long you can hold your trades for after entrance according to the time frame you are using. For 1 hour Timeframe you should have the least equity of $3500 and play considerately on your lot sizes, my lot size when its on the higher side then is 2 on the lower side 0.50.
Trade active:
No decision made yet, neither the buyers nor the sellers are in, but we can see the bulls have lost momentum and sellers are somehow trying to get control of the market, still have zero alarms activated meaning my indicators are still on dormant state.
However my RSI is signaling a fall, so is the stochastic indicator we still awaiting our breakouts at the identified zones, using the triangle, rectangle, bollinger band, and lastly price action.
Another REMINDER : I AM ON ONE HOUR TIME FRAME, and you can use the exact formula's i'm using on a lower TIME FRAME. Plus don't forget my trading principle whatever the time frame multiply by 5 gives you the highest period you can wait for your trade after entrance, also do remember when the trade is going your way then and maybe it has crossed the highest period, you can either hold or close.
When the trade is not going your way and your highest time period has been achieved just accept the loss and close the market, sometimes depending on the loss % you can even decide to forget about trading for that day and wait for the next.
MEANWHILE i wish you all A PROFITABLE DAY ! up until the CIAO!
However my RSI is signaling a fall, so is the stochastic indicator we still awaiting our breakouts at the identified zones, using the triangle, rectangle, bollinger band, and lastly price action.
Another REMINDER : I AM ON ONE HOUR TIME FRAME, and you can use the exact formula's i'm using on a lower TIME FRAME. Plus don't forget my trading principle whatever the time frame multiply by 5 gives you the highest period you can wait for your trade after entrance, also do remember when the trade is going your way then and maybe it has crossed the highest period, you can either hold or close.
When the trade is not going your way and your highest time period has been achieved just accept the loss and close the market, sometimes depending on the loss % you can even decide to forget about trading for that day and wait for the next.
MEANWHILE i wish you all A PROFITABLE DAY ! up until the CIAO!
Trade active:
I PLACED A SHORT TERM TRADE WHICH IS ALREADY RUNNING PROFITS, TODAY MAYBE A SCALPING DAY! Yesterday i had let it pass with a few entries, but today i'm looking at scalping and since i have the time then i'm all in, sorry guys my scalping method needs too much concentration so i won't be able to update, but incase i come across an opening you are getting it as well....
CIAO!
CIAO!
Trade active:
BULLS ARE IN! and they have the power could be a bull trap let's wait for our confirmation. Signals still suspecting a fall
Trade active:
Our first indicator has signaled an upward movement, awaiting confirmation.
Trade active:
Good Afternoon , so far so good GOLD SCALPING running huge profits in small bits, short trades big money
Trade closed: target reached:
1943 TP was hit , 1934 Tp hit , 1920 Tp hit , do your pips calculations, remembering i had 3 entries at 1955 with a lot size of 3.00,then i also had 5 entries at 1946 with a lot size of 2, both entries finished at 1920..Whatever your minds calculated is what i got plus considering the other scalping ooooh man today was brilliant!
NFP CONSIDERATIONS! hehehe.
Anyways Congrats for those who managed to secure profits, i'm sure all of you did. i'll call it a day and let's see what tomorrow brings.
GOODNYT GUYS!
NFP CONSIDERATIONS! hehehe.
Anyways Congrats for those who managed to secure profits, i'm sure all of you did. i'll call it a day and let's see what tomorrow brings.
GOODNYT GUYS!
Trade active:
Just an update for those who are still trading the fall may extend further to 1900
but i do not have the time now all i got is eat, pray sleep wake up early and analyze the market, for now i'm just preparing for tomorrow .
NOTE: DISCIPLINE! in trading makes you healthy.
GOODNIGHT
but i do not have the time now all i got is eat, pray sleep wake up early and analyze the market, for now i'm just preparing for tomorrow .
NOTE: DISCIPLINE! in trading makes you healthy.
GOODNIGHT