Looking at gold sells, yesterday was our worst day of the month with a 0.75% loss for the day. But that's part of trading.
Looking at sells here, am I expecting it to go straight to full TP? no, but its a trade idea where we scalp and let runners run, so that's exactly what we're looking for here.
Looking at gold long for a short term trade as we've passed NY open, price respected the previous support we were looking at sells for, however I've seen an opportunity and will be taking this one with small risk 0.25%
Looking at potential gold sells here, small risk as its a monday of the final week of the month however we are expecting a move down on gold after the rally seen last friday which was a good end to a very boring week.
Risk management important as always.
Looking at a potential long entry from here, the risk is very minimal if none at all, it is a paper trade on my end as part of gaining experience no matter the circumstances and applying my knowledge to live situations.
The best testing is live testing.
looking at sells as GBPJPY rejects the previous high, potential double top entry however we're cautious about a fakeout to grab liquidity before a real move down.
We will see what price does and manage risk based on that.
A followup from the trade taken earlier today, we can see price is approaching a messy range from last week, with this we are looking for price to break below this range highlighted, if we can guarantee a break and retest of this range with price action then we will be looking to continue shorting.
Congrats to those that followed the trade as it was posted...
looking at potential gold sells this morning based on the close of the 30m candle - this is an important range and price action move as it returns to a previous range before last weeks move up.
keep risk small as always.
This will be taken on my prop firm account as well as personal account so I'm confident in this trade.
Looking at sells however it is very late in the day - best way to handle this is by reducing risk especially as the market is setting up for NFP tomorrow.
Be smart , protect capital. The number 1 rule in the markets is to minimse losses
As we can see, price resepected the lows and over the course of the day continued to rise.
Currently in the thought process of creating a free group for discussions where I can post my trades for those that are interested, if anyone likes the idea and is interested please feel free to drop a comment :)