In order to make a success trading in the commodity market, the trader must have definite rules and follow them. The rules given below were formulated by William Gann based upon his long personal experience and anyone who follows them will make a success.
*Chart of gold is just taken as an example of a popular commodity.
1. Divide your capital into 10 equal...
0.72250-0.72750 price zone might act as resistance and possible opportunity for opening short position.
Since end of July the pair is trading sideways, however the bias remains bullish (meaning lower volumes should be opened).
Rising number of Covid cases resulting lockdown in Melbourne + global uncertainty might fundamentally support Aussie from breaking above...
Setup is pretty smooth and easy to do
Green circle shows where i can enter the trade. I'm planning 2 entries in it. ( $77 and $57) Stop Below the ATL
I may compound on the way up, if that happens
It is not suitable to risk lower than R and risking more than 5R,
I have to make an exception because while market retracing i need as much as cash i could spare.
I...
Accepting losses is one of the hardest decisions a trader must make but it is necessary. Conquer this one trait and you'll do better than 90% of other traders.
