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  • #52,241
  • Nov 19, 2024 3:00am Nov 19, 2024 3:00am
Quoting PatienceFx
{quote} Never use bands for direction it is not meant for direction It has a different purpose, use bands to find consolidation area. If you are using bands for direction then your bound to lose
Hmmm... Yes! You are so correct.
Learn... Work Hard... Trade Alone
  • #52,242
  • Nov 19, 2024 3:00am Nov 19, 2024 3:00am
Quoting PatienceFx
Waiting for 30 minutes support to break
Remember this post
Now check on your chart what it means
  • #52,243
  • Nov 19, 2024 3:05am Nov 19, 2024 3:05am
Quoting PatienceFx
{quote} Never use bands for direction it is not meant for direction It has a different purpose, use bands to find consolidation area. If you are using bands for direction then your bound to lose
HHHL/LLLH show me market direction.... every other indicators should provide confluence to this. Then money management brings confidence to enter the trade. Law of large numbers tell me if I do it long enough, I will catch a riding win with minimal loss.
This is my trading psychology now.
Learn... Work Hard... Trade Alone
  • #52,244
  • Nov 19, 2024 3:06am Nov 19, 2024 3:06am
Another reprice. Hopefully another 500 pips coming
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Look right, we'll see the signs
  • #52,245
  • Nov 19, 2024 3:06am Nov 19, 2024 3:06am
Quoting PatienceFx
{quote} Never use bands for direction it is not meant for direction It has a different purpose, use bands to find consolidation area. If you are using bands for direction then your bound to lose
If after a consolidation there is no strength in the break out, then don't bother
  • #52,246
  • Nov 19, 2024 3:08am Nov 19, 2024 3:08am
Quoting BiteFX
{quote} HHHL/LLLH show me market direction.... every other indicators should provide confluence to this. Then money management brings confidence to enter the trade. Law of large numbers tell me if I do it long enough, I will catch a riding win with minimal loss. This is my trading psychology now.
Now you are getting it
  • #52,247
  • Nov 19, 2024 3:11am Nov 19, 2024 3:11am
Quoting PatienceFx
From 2625 gold enters the first resistance ring on daily chart
2625 is a tough nut to crack
  • #52,248
  • Nov 19, 2024 3:14am Nov 19, 2024 3:14am
Looks like we could be about to post our 7th consecutively bullish 4 hour candle at a level of resistance and also at the 55 day moving average in an upward pennant.

For me, that is a good enough reason to look for shorts to perhaps 2600 again. Or this post election drop is over totally and just keep buying.
  • #52,249
  • Nov 19, 2024 3:19am Nov 19, 2024 3:19am
Quoting MrFanciful
Looks like we could be about to post our 7th consecutively bullish 4 hour candle at a level of resistance and also at the 55 day moving average in an upward pennant. For me, that is a good enough reason to look for shorts to perhaps 2600 again. Or this post election drop is over totally and just keep buying.
Bears are exhausted, I expect a re-trace towards 2650-2660 before the drop resumes, how monthly closes will also matter for the drop to resume or change bias to the upside.

All is somewhat well with the world now, no insane fundamentals to keep pushing price higher unless fed cut more in December
  • #52,250
  • Nov 19, 2024 3:33am Nov 19, 2024 3:33am
Ride the winners, cut the losers.
Oh! How I desire this greatly.
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Learn... Work Hard... Trade Alone
  • #52,251
  • Nov 19, 2024 3:41am Nov 19, 2024 3:41am
Quoting BiteFX
Ride the winners, cut the losers. Oh! How I desire this greatly. {image}
So the creepy thought would be... If I had loaded this trade, ah! I would have gotten xyz...
No o, still you risk 2% of your equity. Because every trade and each signal is independent of a previous trade and signal.
This must sink into my subconscious of course.
Learn... Work Hard... Trade Alone
  • #52,252
  • Nov 19, 2024 3:50am Nov 19, 2024 3:50am
2653 target
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  • #52,253
  • Nov 19, 2024 3:54am Nov 19, 2024 3:54am
Quoting MrFanciful
Looks like we could be about to post our 7th consecutively bullish 4 hour candle at a level of resistance and also at the 55 day moving average in an upward pennant. For me, that is a good enough reason to look for shorts to perhaps 2600 again. Or this post election drop is over totally and just keep buying.
That's there.. add to it the Go Ahead for Ukraine to use long range US missiles.. The weekly open gap up is evident that market will continue its movement.. Many thot the market was about to drop after Asian session they only made 12.5% correction on the daily..
Candlesticks dont move markets, Volume does
  • #52,254
  • Nov 19, 2024 3:59am Nov 19, 2024 3:59am
I'm looking to short mostly on the number of consecutive bullish 4 hours candles we've had, now 7. Even though that obviously shows a strong trend, it also means that the likelihood of the next candle also being bullish gets lower with every consecutive one made.

Another way to look at it would be, lets say you trade on the 4 hours chart like swing traders etc. Would you be comfortable opening a buy this far up the trend? Where would you place your stop loss? Wouldn't you now be thinking "I'll wait for a pull back"?

I'm not targeting a big move, just 2620 which is less than a 23.6% fib retracement and still above a level of price support.

EDIT: Or it could just be as simple as spam the buy button.
  • #52,255
  • Nov 19, 2024 4:03am Nov 19, 2024 4:03am
The retest of 2625.20 seems ok.
If it dont the parabolic continues.
Put some to bearish with my thursday buy sctive, just to scalp.
  • #52,256
  • Nov 19, 2024 4:03am Nov 19, 2024 4:03am
Simple trend continuation
Proper money management
Enter with confidence.
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Learn... Work Hard... Trade Alone
  • #52,257
  • Nov 19, 2024 4:03am Nov 19, 2024 4:03am
Quoting HalikiqeoVN
{quote} In my opinion, this is the stage where BTC temporarily replaces gold =>> Gold will gradually decrease to 2486 and BTC will be above 80,000
October strategy reversal =>> switch to buying gold and selling BTC
  • #52,258
  • Nov 19, 2024 4:05am Nov 19, 2024 4:05am
Just remember market is the king,no indicator can predict,only patience trade has a win win situation.bull is the bear and bear is the bull.both are one with complete difrnt identities.
  • #52,259
  • Nov 19, 2024 4:09am Nov 19, 2024 4:09am
Quoting PatienceFx
2653 target {image}
added second position
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  • #52,260
  • Nov 19, 2024 4:12am Nov 19, 2024 4:12am
Quoting Praetorion
{quote} That's there.. add to it the Go Ahead for Ukraine to use long range US missiles.. The weekly open gap up is evident that market will continue its movement.. Many thot the market was about to drop after Asian session they only made 12.5% correction on the daily..
So basically, it was 2 weeks of "Thank god, Trump will save us" and now back to "Oh fuck Biden's still the President"
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