So its been an interesting week in Gold and it's great to see the Vector candles doing their job in the hourly and 4 hourly.
We were done with the short scalps at 1810 and caught a sniper long entry at 1805.88 where a Green Vector candle was to be recovered by red which flipped and turned green. We pulled out majority at 1823 but re-entered more longs for the rest of the journey to 1837. It blasted past 1830-1835. Due to Green Vector recovering Red Vector from 221121 (top 1838.8) on 190122 and approaching the top of the box and some of our short entry prices (1845/1848) on 200122, we started on the short scalps again. As well as potentially a meaningful short to the bottom of the box as there is more Green Vectors below. We are experienced enough on Gold to know it can carry on long also at anytime as there are Red Vectors above too. But we are more leaning bearish at the moment and are looking to cut any long scalps at 1841-43 where the nearest and most recent Red Vector candle is. Unless of course we see Blue in the recovery of Reds at these most recent highs.
If the short plays out from here, apart from the most recent Green Vector candles that manipulated us up to these levels down at 1822, 1810, 1805, the juicy Green Vector candle down at 1765 (Wick bottom 1753) looks like a nice place to aim for. The next levels where Green Vector candles exist are down at 1740, 1730, 1720 and of course our ultimate short target to fill the Rogue wick from last August (1668-1680) will be our super extended short targets.
The next Red above is as follows:
First contact 1850, body top 1860 wick top 1866. Thereafter we're looking at a Candle at 1870 and 1874 from 161121. Always be prepared for a potential 200-300 pip override to the upside before the actual drop but that whole area is a mega short waiting to happen. But until we have meaningful Bullish confirmation we will long scalp and hold the short from 1847.5.
Progress check!
22 trades since 11th Jan
13 shorts 10 50-90 pip scalps (3 x 100+ pips)
9 longs 7 50-90 scalps (2 x 150+ pips)
21 wins
1 loss
1 Short running
1 long scalp running
Good luck guys!
This is not financial advice and should be taken with a pinch of salt.
We were done with the short scalps at 1810 and caught a sniper long entry at 1805.88 where a Green Vector candle was to be recovered by red which flipped and turned green. We pulled out majority at 1823 but re-entered more longs for the rest of the journey to 1837. It blasted past 1830-1835. Due to Green Vector recovering Red Vector from 221121 (top 1838.8) on 190122 and approaching the top of the box and some of our short entry prices (1845/1848) on 200122, we started on the short scalps again. As well as potentially a meaningful short to the bottom of the box as there is more Green Vectors below. We are experienced enough on Gold to know it can carry on long also at anytime as there are Red Vectors above too. But we are more leaning bearish at the moment and are looking to cut any long scalps at 1841-43 where the nearest and most recent Red Vector candle is. Unless of course we see Blue in the recovery of Reds at these most recent highs.
If the short plays out from here, apart from the most recent Green Vector candles that manipulated us up to these levels down at 1822, 1810, 1805, the juicy Green Vector candle down at 1765 (Wick bottom 1753) looks like a nice place to aim for. The next levels where Green Vector candles exist are down at 1740, 1730, 1720 and of course our ultimate short target to fill the Rogue wick from last August (1668-1680) will be our super extended short targets.
The next Red above is as follows:
First contact 1850, body top 1860 wick top 1866. Thereafter we're looking at a Candle at 1870 and 1874 from 161121. Always be prepared for a potential 200-300 pip override to the upside before the actual drop but that whole area is a mega short waiting to happen. But until we have meaningful Bullish confirmation we will long scalp and hold the short from 1847.5.
Progress check!
22 trades since 11th Jan
13 shorts 10 50-90 pip scalps (3 x 100+ pips)
9 longs 7 50-90 scalps (2 x 150+ pips)
21 wins
1 loss
1 Short running
1 long scalp running
Good luck guys!
This is not financial advice and should be taken with a pinch of salt.
