GOLD NFP PLAN :
now the price is in the middle (waiting for NFP)
No need to open trade right now.
So, Our Plan is:
PLAN A: If price Hit 1315-1317 First, and can't break through:
looking for sell
PLAN B: If price went down to 1303-1306 First, and can't break through:
looking for buy
Profit should be 30-50 pips , SL put out side the structure.
PLAN C: Break 1318 and stand above, looking for retest and buy
PLAN D: break 1300 and stay below , looking for retest and sell
Stay Calm, Identify which plan you should use and strike for a good trade! Good Luck!
Again: don't lose more than 2% of your capital.
And if the price hit 1:1 risk/reward ratio, good to close half and move SL to breakeven
now the price is in the middle (waiting for NFP)
No need to open trade right now.
So, Our Plan is:
PLAN A: If price Hit 1315-1317 First, and can't break through:
looking for sell
PLAN B: If price went down to 1303-1306 First, and can't break through:
looking for buy
Profit should be 30-50 pips , SL put out side the structure.
PLAN C: Break 1318 and stand above, looking for retest and buy
PLAN D: break 1300 and stay below , looking for retest and sell
Stay Calm, Identify which plan you should use and strike for a good trade! Good Luck!
Again: don't lose more than 2% of your capital.
And if the price hit 1:1 risk/reward ratio, good to close half and move SL to breakeven
Comment:
PLAN A
Comment:
Can't Break 1315
Comment:
Contratulations!
Plan A give us 50 pips profit!!
Plan A give us 50 pips profit!!
Comment:
Comment:
comment +1 if you trade Plan A :)
Comment:
A gentle reminder:
this method is called: Classification: First Steps toward Logical-Mathematical Thinking
As Trader, we must have this capabitliy to classify the market into multiple scenarios. As what I did for tonight's NFP. I have classified FOUR possiblities.
Then we just need to wait and see which scenario the market is after the NFP.
Obviously, as I said in the beginngin: If the price can't break 1315-1317 area, we can look for sell opportunity and aim for 30-50 pips--PLAN A
Did gold break 1315-1317 ? The answer is No.
Therfore can we Apply Plan A? The answer is Yes.
How is the result? Profit of 50 pips !
How did we get the profit?
by detailed preparation before the NFP and by logical thinking of which plan to be carried out.
You see, we do so many things for one trade.
Compared with thoese novice trader who any how made the trade without a proper plan, who do you think will have higher winning ratio? and who do you think will have higher risk/reward ratio?
I hope you can understand this. Cheers.
this method is called: Classification: First Steps toward Logical-Mathematical Thinking
As Trader, we must have this capabitliy to classify the market into multiple scenarios. As what I did for tonight's NFP. I have classified FOUR possiblities.
Then we just need to wait and see which scenario the market is after the NFP.
Obviously, as I said in the beginngin: If the price can't break 1315-1317 area, we can look for sell opportunity and aim for 30-50 pips--PLAN A
Did gold break 1315-1317 ? The answer is No.
Therfore can we Apply Plan A? The answer is Yes.
How is the result? Profit of 50 pips !
How did we get the profit?
by detailed preparation before the NFP and by logical thinking of which plan to be carried out.
You see, we do so many things for one trade.
Compared with thoese novice trader who any how made the trade without a proper plan, who do you think will have higher winning ratio? and who do you think will have higher risk/reward ratio?
I hope you can understand this. Cheers.
Trade closed: target reached
please check which Plan is suitable . and good luck!