how pro traders find target TP place + big trader secret
assume now we are in green line,cant see right side of it
for up target= on 1hour chart find last clear down leg (V shape ) then draw fibonanchi from high to low (enable 161% and 261%) now 161% place many big money traders put TP (like today) if it break buyers next target is fibo 261%
can we put sell limit on 161%= no gold is super trendy ,reverse on it is big mistake ,specialy sell
note = never draw trendlines ,support ,fibo other traders can see , only draw most clear,most important things
for find down target= find last up leg ,draw fibo raytrace on it (start draw from low to high) 100% level must be in down
can we put buylimit on fibo -161%= no but somthimes near it we have powerful support and trend line ,then yes you can put buylimit but with SL=6.00$ or low (only buy side on gold,silver ,indexes allowed , pick sell,sellimit on them is stupid)
SSSECRET= big traders never inter posation instand by buy,sell , they 99% use buystop,sellstop posation , for example ,gold go down ,reach fibo 161% , pro traders go to 15min chart or 5min put buystop on last high (or down trend) bcuese if gold break high,or trend mean 99% will start new + trend yes he loss 10-15 pip but his inter winrate is very higher than buylimit or buy (think,practice 3 week)
dont judge soon , 1 month instead buy ,use buystop on 15min chart last clear high (sl=low) then judge
for up target= on 1hour chart find last clear down leg (V shape ) then draw fibonanchi from high to low (enable 161% and 261%) now 161% place many big money traders put TP (like today) if it break buyers next target is fibo 261%
can we put sell limit on 161%= no gold is super trendy ,reverse on it is big mistake ,specialy sell
note = never draw trendlines ,support ,fibo other traders can see , only draw most clear,most important things
for find down target= find last up leg ,draw fibo raytrace on it (start draw from low to high) 100% level must be in down
can we put buylimit on fibo -161%= no but somthimes near it we have powerful support and trend line ,then yes you can put buylimit but with SL=6.00$ or low (only buy side on gold,silver ,indexes allowed , pick sell,sellimit on them is stupid)
SSSECRET= big traders never inter posation instand by buy,sell , they 99% use buystop,sellstop posation , for example ,gold go down ,reach fibo 161% , pro traders go to 15min chart or 5min put buystop on last high (or down trend) bcuese if gold break high,or trend mean 99% will start new + trend yes he loss 10-15 pip but his inter winrate is very higher than buylimit or buy (think,practice 3 week)
dont judge soon , 1 month instead buy ,use buystop on 15min chart last clear high (sl=low) then judge