here my checklist for a possible gold long set up.
* [x]HT (weekly) * [x]major trend direction * [x]50 EMA * [x]RVI 50 > 30 * [x]Key support & resistance levels (red) * [x] in Wykoff expansion/trend phase * [x]Identified last contraction phase * []DT (4h) * [x]Identified last wykoff contraction phase * []average price contrary to trend * [x]Sup./res. levels (blue) * []Momentum loss * []14 RSI < 35 * []Price action
As soon as the price drops below the contraction average of the last contr. phase I am looking for long entries. Bold bulletpoints without an "x" are the factors I am waiting for.