How Gold Liquidates people!
Believe it or not, all of this actually happened.
The Vector candle system probably works best on Gold and US30 but for some reason we still stay adamant at being Oil traders.
The main reason most people stop trading Gold is because they been stung on it a bunch of times. Well we are not going to lie and say that was not us too.
The numerous references to 1680 and 1700 should give away the fact that there was some good pennies lost on that rogue wick to the downside (08082021) when it looked like Gold had found a floor.
Since then we have enacted revenge a few times on our big shorts on the following dates:
151121 - 1000 pips
030122 - 300 pips
050122 - 650 pips
250122 - 700 pips
This definitely made up all the pain.
Now what are we talking about now? We are talking about using the 1 hour timeframe to exploit higher timeframe ranging at key economic times.
Every time FOMC/Unemployment claims/FED announcements happen, Gold behaves crazy. Now sometimes you have news that is supposed to affect price a certain way and it does the opposite.
On the 28th Jan we started looking at Gold potentially starting a drive up to collect some of the Red Vector candles it printed on the way down from the "reaching"
idea.
So on 030222 There is Good news for the dollar on unemployment claims. Good for Dollar so Gold price should go down. Oh it did, but then its going up thereafter.
on 040222 there is very good news for the dollar 4X the forecast so price should go down yeah? Oh it did but guess what, it went up again after.
Now the typical everyday trader would just out it down to price being crazy. But when you have the help of Vector candles, you can look at a chart, see what news is coming and start to set your buy/sell limits. Just imagine going long at the top of those Green Vectors and short at the bottom of those Red Vectors. This is the life of many Gold traders at the moment.
The Idea titled, "Waiting for New York" spoke of looking for long scalps at 1790. What has happened in between that and after, you cannot make up.
Now the scalp from today is almost at target (but may have to be closed early) but any longer distance one's hopes of survival are questionable as we are starting to close in the box above.
But as we saw in the reaching idea, Gold doesn't have to follow the rules. But as long as you are ready for every eventuality you will be ok.
The main thing is, knowing where the Vector candles are and trading on days when you can see a chance of them being recovered.
The Green Vector it used to move away from the 1790 area will definitely be visited again at some point soon but we need to see how many of the Red Vectors above price will recover before dropping again.
Good luck guys!
This is not financial advice and should be taken with a pinch of salt!
The Vector candle system probably works best on Gold and US30 but for some reason we still stay adamant at being Oil traders.
The main reason most people stop trading Gold is because they been stung on it a bunch of times. Well we are not going to lie and say that was not us too.
The numerous references to 1680 and 1700 should give away the fact that there was some good pennies lost on that rogue wick to the downside (08082021) when it looked like Gold had found a floor.
Since then we have enacted revenge a few times on our big shorts on the following dates:
151121 - 1000 pips
030122 - 300 pips
050122 - 650 pips
250122 - 700 pips
This definitely made up all the pain.
Now what are we talking about now? We are talking about using the 1 hour timeframe to exploit higher timeframe ranging at key economic times.
Every time FOMC/Unemployment claims/FED announcements happen, Gold behaves crazy. Now sometimes you have news that is supposed to affect price a certain way and it does the opposite.
On the 28th Jan we started looking at Gold potentially starting a drive up to collect some of the Red Vector candles it printed on the way down from the "reaching"
idea.
So on 030222 There is Good news for the dollar on unemployment claims. Good for Dollar so Gold price should go down. Oh it did, but then its going up thereafter.
on 040222 there is very good news for the dollar 4X the forecast so price should go down yeah? Oh it did but guess what, it went up again after.
Now the typical everyday trader would just out it down to price being crazy. But when you have the help of Vector candles, you can look at a chart, see what news is coming and start to set your buy/sell limits. Just imagine going long at the top of those Green Vectors and short at the bottom of those Red Vectors. This is the life of many Gold traders at the moment.
The Idea titled, "Waiting for New York" spoke of looking for long scalps at 1790. What has happened in between that and after, you cannot make up.
Now the scalp from today is almost at target (but may have to be closed early) but any longer distance one's hopes of survival are questionable as we are starting to close in the box above.
But as we saw in the reaching idea, Gold doesn't have to follow the rules. But as long as you are ready for every eventuality you will be ok.
The main thing is, knowing where the Vector candles are and trading on days when you can see a chance of them being recovered.
The Green Vector it used to move away from the 1790 area will definitely be visited again at some point soon but we need to see how many of the Red Vectors above price will recover before dropping again.
Good luck guys!
This is not financial advice and should be taken with a pinch of salt!
Comment:
1831.77/1832 sell scalp entry price - given a scalp so far
Comment:
1836 did the business too
