Get started

Pips

How I Caught 200 Pips On Gold And How You Can Do Too✨Hello Traders✨ I’ve done a breakdown on how I caught 200pips on GOLD!!! Just like how a pilot cannot takeoff without completing the checklist procedure✅ As traders I believe we cannot just place a trade without completing our own trading checklist.✅ Trading is a business, and like any other business we want to enter deals that are in our favor ($$$) Before entering a trade, I need atleast 3 confluences and in this particular trade the criteria was met As you know, Gold has been in an uptrend however I could see that it was starting to lose steam That is when I pulled out my tools ⚡️Note : Some of the tools I use to identify reversal trades may not be applicable for trend riding⚡️ 1. The channel - The breakout out of the channel helped to confirm that a reversal was taking place✅ 2. Awesome Oscillator divergence - This is an “Awesome” tool I use to find hidden divergence & confirm reversals - as you can see there is a higher high on the trend and lower highs on the AO signaling divergence✅ 3. Psychological Level- This can be powerful especially when used with reversal chart patterns like that DOUBLE TOP there on the wicks at 1900. Here you can see the 1900 level was rejected twice by those weeks and I knew it was Game on✅ I hope this post will help someone who is struggling to put it all together A trading checklist might just be the missing key in your trading It will help you to factor out FOMO trades and reduce overtrading giving you that sniper like precision⚡️ Remember trading is serious business. Real money is involved So take the time to do a checklist and filter out the bad trades from the good! God bless you✨ Slick⚡️
OANDA:XAUUSD
by Slickpapi
2
GBPUSD - 1H CHART ANALYSISHI GUYS, HOPE EVERYONE READING THIS IS WELL. PLEASE SEE ATTACHED MY ANALYSIS OF GBPUSD. AS WE CAN SEE IN THE CHART WE HAVE THE PAIR TRADING WITHIN A CHANNEL WHICH I HAVE DRAWN OUT WITH BOXES TO DRAW RESISTANCE AND SUPPORTS AREAS. WE CAN ALSO SEE THAT THERE IS A RESISTANCE LEVEL BEING RESPECTED WITHIN THE CHANNEL. THERE IS A FEW WAYS WE COULD LOOK FOR ENTRIES IN THE MARKET HERE: - I WILL BE WATCHING THE CANDLESTICKS TO SEE IF WE HAVE ANY PIVOT CANDLE STICKS NEAR THE RESISTANCE LINES, IF SO I WILL ASSESS THE RSI AND THE STOCHASTIC TO SEE IF I CAN GET ANY CONFIRMATION OF A REVERSAL TO THE DOWN SIDE. - WE COULD WAIT FOR A BREAK THROUGH THE RESISTANCE LINE/AREA WHICH IS CURRENTLY BEING RESPECTED AND FROM THERE WE COULD WAIT FOR A RETEST AND PUSH TO THE UPSIDE. - WE COULD ALSO WAIT FOR A BREAK IN THE CHANNEL AND A PULL BACK TO RESTEST SUPPORT/RESISTANCE BUT THIS MAY TAKE A FEW DAYS TO MAKE THESE TYPES OF MOVES. THE 4H AND DAILY CHART DON’T GIVE US MUCH INFORMATION AS TO WHAT DIRECTION WE ARE GOING IN AS IT IS CONSOLIDATING ON ALL HIGHER TIME FRAMES BUT I WILL WATCH CAREFULLY FOR THE NEXT FEW HOURLY CANDLES AND SEE IF THIS GIVES US ANY INDICATIONS AND POTENTIAL TRADES. ANY LIKES OR COMMENTS WITH YOUR OPINIONS ARE MUCH APPREICATED. DWFX
by DJW1998
EUR/USD to start this week off!...EUR/USD upside remains active. The pair looks to the end day around its 21 DMA (1.2180) but nonetheless nearer to the top its tighter 1.2146-90 range. Looking ahead, tomorrow’s German ZEW survey will likely gain focus in early hours whilst BoE’s Chief Economist Haldane is ready to make an appearance close to the US cash open. Relatively flat intraday around the 90.00 mark after waning from its 90.30 best towards its 90.03 low on the Dollar Index. Further upside expected on EUR/USD. Use your own trading initiative. Trade safe and have a great week ahead!
Long
by FTUKcom
3
Part 2: Why did Gold suddenly drop over 500 pips?Part 2 Gold was trading in a channel! i only just saw this. The drop in Gold of 500 pips last week was from three things: 1. Triple Top/Head and shoulders 2. Break of trend line 3. To touch the bottom of the channel. Gold has been in a channel trending up since the massive double bottom from May. The trend and channel are still valid because Gold was able to rally back and still close in the channel and retraced back up over 300 pips. This is the Part 2 of my technical analysis. There could be a fundamental reason but I have chosen to just focus on the technicals. How did you do during the past few days trading Gold?
OANDA:XAUUSD
by Shanktown
Part 1: Why did Gold suddenly drop over 500 pips?Part 1 Gold was trending up nicely for a while! Then, it decided to drop; and it dropped over 500 pips in just over a day. Why? I couldn't understand why it wasn't drying to continue to climb for several reasons. 1. It was in an uptrend. 2. It broke and closed above the 1900 level several times. Here's what I missed: 1. The uptrend was broken and retested as you can see in the green pencil area. 2. A Triple top/head and shoulders was created-yellow circles. 3. I was biased and couldn't see differently. I won't be making that mistake again! I finally figured out after it was all too late and over. I took about 5 trades during that short time and only 1 was a winner. The thing I need to do better with next time is to respond more fluidly to the ever changing markets. How did you do during this time? Look for Part 2 for something new to add!
OANDA:XAUUSD
by Shanktown
GOLD 200DAY / 1,800 RETEST provides a compelling opportunityOne has to imagine that gold will find its way back to its 200 day before marching on higher given the fundamental tailwinds. If gold trades down to 1800 and we get a nice close above it - I would believe this to be a compelling opportunity to get long or add length if you took a more aggressive entry prior to the breakout. A change in market sentiment with respect to the USD, or a FED hiking cycle beginning sooner than anticipated (or the anticipation thereof) , would act as a circuit breaker to this trade. PDC
OANDA:XAUUSDLong
by Parkdale-Capital
EUR/USD nestling support! Both looking susceptible to steeper depreciation vs their US rival, with the Euro only just recovering from a stop-chase through the 18 DMA (1.2060) in time to avoid more sell orders sitting at or beneath 1.2050. Nevertheless, EUR/USD also faces heavy and layered option expiry interest from the round number above to 1.2150, including 1.3 bn at 1.2100, 1 bn from 1.2115-35 and the same size between 1.2140-50. Overall further upside is anticipated over the coming weeks.
Long
by FTUKcom
12