Put both the swing and scalp points of view on the same chart so you can see how I take the HTF and plan my scalps accordingly.
Can see clearly the bearish structure and when you add the Fib and trendline in, the current bullish push makes sense.
Ideally, we see short term buys at break and retest of 1720 to swing sells at 61.8 fib.
Then we sell to current...
At this point, the DXY could end up at the moon lol.
Formed nice structure on both 1D and 4H timeframes; just a case of reacting accordingly.
Would be in favour of a break below current support and retesting Fib area just to give the USD pairs a time to correct before next phase.
Prefer sells here given the current trend.
great case study on how to refine a scalp.
had a massive area in the middle with no clear trade on the HTF's. drop down to 30 min they're crystal clear.
dont get trapped in scalps by trying to include everything. dont forget, if 1 candles spikes 30 pips above your area that doesnt need including. even if price reacts...
Here's a quick breakdown of how i go about developing a bias for the gold for the week.
It's not often i swing gold, i usually scalp. But, i always do this first. I see what the HTF's are showing from a swing point of view and if it's highlighting any key areas I need to take note of.
Here we can see we've had not just a B&R of the descending TL but recently a...
Again not a massive fan on this set up either no direction yet. Sell trend looks good to continue off the 61.8 however price has formed an Inv Head and Shoulders so can't discount a reversal.
No trade for me this week on this