(binned per thread starter’s request) Gold Trading Explained | Page 22 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Similar Threads

Effortless Trading Explained + FAQ 300 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

Trading the News... explained 2 replies

Trading 24 hours per day, 5 days per week 14 replies

Attachments: (binned per thread starter’s request) Gold Trading Explained
Exit Attachments

(binned per thread starter’s request) Gold Trading Explained

  • #421
  • Feb 19, 2025 12:43am Feb 19, 2025 12:43am
Leaving now
  • #422
  • Feb 19, 2025 1:52am Feb 19, 2025 1:52am
Quoting Bakker
Draw levels where the bodies of candles match, ignore wicks, look for "thrust candles" And do the candle account up to levels. {image}
Switching to lower TF's the thrust candles make even more sense
  • #423
  • Feb 19, 2025 2:22am Feb 19, 2025 2:22am
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
  • #424
  • Feb 19, 2025 3:21am Feb 19, 2025 3:21am
ATH break thru
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_6026.jpeg Size: 123 KB
  • #425
  • Feb 19, 2025 3:24am Feb 19, 2025 3:24am
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 13 KB
  • #426
  • Feb 19, 2025 5:12am Feb 19, 2025 5:12am
Going to chuck H4, much more signals on H1
  • #427
  • Feb 19, 2025 6:05am Feb 19, 2025 6:05am
Quoting BDfx77
{quote} how u got those signals , could u plz explain and help new traders
Pretty good example why thrust bars work. They're nothing more than pullbacks which test lower levels (or to take out stop losses); returning back to the trend that's in place. See below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 7 KB


Hope this helps BDfx!!
  • #428
  • Feb 19, 2025 6:12am Feb 19, 2025 6:12am
Quoting Bakker
{quote} Pretty good example why thrust bars work. They're nothing more than pullbacks which test lower levels (or to take out stop losses); returning back to the trend that's in place. See below {image} Hope this helps BDfx!!
Note where the levels been drawn and check the point where the bars(candles) stopped their retreat - and turning back again. This occur on any TF. So, its a good idea for inexperienced traders to be on the lookout for this before embarking on a trade.
  • #429
  • Feb 19, 2025 6:22am Feb 19, 2025 6:22am
Quoting Bakker
{quote} Note where the levels been drawn and check the point where the bars(candles) stopped their retreat - and turning back again. This occur on any TF. So, its a good idea for inexperienced traders to be on the lookout for this before embarking on a trade.
This will also help in doing the candle count as the structure of the formation is more obvious.
  • #430
  • Feb 19, 2025 6:28am Feb 19, 2025 6:28am
Gold seems to want to cool down on the RSI, if it doesn't drop to low down on the RSI (I'd say to about 30 at most) it could just be a preperation for continuous upward momentum. Would love to hear ya'lls opinions on that.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_2025-02-19_13-23-44_130dd.png Size: 30 KB
  • #431
  • Feb 19, 2025 6:28am Feb 19, 2025 6:28am
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 10 KB

Worth watching
  • #432
  • Feb 19, 2025 7:27am Feb 19, 2025 7:27am
is the gap going to close or is gold moving into a bearish trend?
  • #433
  • Feb 19, 2025 10:10am Feb 19, 2025 10:10am
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 14 KB
  • #434
  • Feb 19, 2025 10:11am Feb 19, 2025 10:11am
Quoting Bakker
{image}
I just bought after the drop
  • #435
  • Feb 19, 2025 1:00pm Feb 19, 2025 1:00pm
Quoting Bakker
A formation consists 9 out of 10 times of 6 candles and can be seen as steps in a staircase. let's take the above screenshot as an example: {image} The count starts off from a recent low. We start counting where the color has changed and it ends with the entry candle. Take note that sometimes you will have to count in the candle just before the change to get to the final candle (6) which is the trade candle)
Hi. How did you arrive at the number "6"? I mean, why not 5 or 7? I don't understand the basic assumption behind this number of candles and why it would be the same on every chart's timeframe. Is that simply because, according to your "tests" (if there are any), that is the best probability for a successful trade from X number of X setups on X timeframe on X market. Do you have any statistics for this "system" or can I rather assume that this is not a "system" in the classic sense but simply an individual trade trigger/signal without any context for risk/goal management?

As a side note, I am a total noob, especially when it comes to price action trading and reading charts (but interested in learning if it could somehow help me achieve my goals).

Best regards!
  • #436
  • Feb 19, 2025 1:35pm Feb 19, 2025 1:35pm
i bought on the dip as well looking to go up with it
  • #437
  • Feb 20, 2025 3:50am Feb 20, 2025 3:50am
Quoting Noisy
{quote} Hi. How did you arrive at the number "6"? I mean, why not 5 or 7? I don't understand the basic assumption behind this number of candles and why it would be the same on every chart's timeframe. Is that simply because, according to your "tests" (if there are any), that is the best probability for a successful trade from X number of X setups on X timeframe on X market. Do you have any statistics for this "system" or can I rather assume that this is not a "system" in the classic sense but simply an individual trade trigger/signal without any...
I can't spoon fed everyone who turn up here, if you can't get to grips doing the candle count it's your problem.
  • #438
  • Feb 20, 2025 3:54am Feb 20, 2025 3:54am
Quoting Noisy
{quote} Hi. How did you arrive at the number "6"? I mean, why not 5 or 7? I don't understand the basic assumption behind this number of candles and why it would be the same on every chart's timeframe. Is that simply because, according to your "tests" (if there are any), that is the best probability for a successful trade from X number of X setups on X timeframe on X market. Do you have any statistics for this "system" or can I rather assume that this is not a "system" in the classic sense but simply an individual trade trigger/signal without any...
Why then rather try the pullback option; or will you require a test too in this case? You can test it yourself.
  • #439
  • Feb 20, 2025 4:18am Feb 20, 2025 4:18am
Quoting Bakker
{quote} I can't spoon fed everyone who turn up here, if you can't get to grips doing the candle count it's your problem.
I can count candles. I'm just curious how you came up with 6.

Quoting Bakker
{quote} Why then rather try the pullback option; or will you require a test too in this case? You can test it yourself.
Hehe. I didn't say anything about that. I don't even know what a pullback option is.

No, I'm just trying to understand whether this is a specific trading system or how you can make one out of it that can be traded systematically and profitably by repeatedly carrying out a series of clear steps. Reading a formation/pattern on the chart seems to play the smallest role. For example, I wouldn't know at what times I should look, how much time this "observation" would cost me every day, how many trades I should make/expect, how I should determine my risk/profit target for such a trade. In short, how I do this as a business and not as a hobby gambler who does something here and there somewhere without a plan and probably doesn't even have a goal of achieving a certain minimum result in the form of X return in X period of time.

Being spoon fed. No, I can hold the spoon myself if I know what to do with it to achieve a certain goal. I'll keep reading here. Maybe it will help me somehow. Thanks.
  • #440
  • Feb 20, 2025 4:21am Feb 20, 2025 4:21am
Why does the count start here? I'm going to say this for the last time! IF YOU DON'T GET 6 UP TO THE TRADE LINE, YOU NEED TO COUNT THE CANDLE BEFORE COLOR CHANGE as well. It all depends on where the entry line was set. And why is the trade line been set there? Because there was a big pullback.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 9 KB
0 traders viewing now