took a nice set up during london as Im trying to get used to trading London as I did back in 2017-2020 Red Folder News at 10 est. Keep that in mind Only targeting 1:1 on this... always 40 ticks risk
My bias is honestly, Gold to the moon...always.. :) At the present moment though I feel as If my technicals tell me the ONLY entry I should be looking for is a Sell..... I dont bracket my trades so heres the entry... Should price action change before 11 am Ill make adjustments
Was looking to buy gold earlier but my rule is to let a 15 min timer after news expire so to allow for a cool down.. Would have already been in profit though. Rules are Rules As im typing this the order triggered, updates as follows
Looking like the sell I wanted yesterday is setting up, again 4 out of 5 requirements met. If trend breaks I will not be adjusting my bias, I will just sit this one out
Initial set up a pending order for the sell stop, thats now been invalidated. Looking for a change of direction confirmation. If that does not occur Ill be placing the sell top order again
Learned I can press record ! LEts see if this adjustment to the sell stop pays off
Been a while, Ill be getting back i the mix, didnt see a set up yesterday I liked for Technical Tuesday, heres what I like today.
Today may or may not pan out as far as triggering an entry. As of right now we are hitting 2 out 5 on the checklist which means, NO ENTRY. Will revisit at 0845. what will I be looking for? US Core Durable Goods Orders US Durable Goods Orders Why? Because 'actual' less than 'Forecast' is good for precious metals. If this happens at 0830, Ill feel...
A decent sell stop on Gold is what im placing checks 4 out of 5 confirmations.
Once again ( gotta get a hang of this ) forgot to publish.. Got TP1 fairly quickly, TP2 didnt hit but closed second position at 60 pips
Just realized I did not include my set up from yesterday Here is a recap, Caught TP1 for 40 pips, Second position got closed at 40 pips as well being that gold whipsawed back to entry and SL. Could have got back in and ate another 200 pips but the trading plan said no.
Honest opinion is the dollar continues to rally after its big move yesterday. In this case I'll only be looking to place a pending order after 0845EST for the sell stop at 1986. Keep in mind things may change from now to 0845, if it does ill add it in the comments section.
Looking to continue from yesterdays short push. No red folders in economic news scheduled today. Explanation of TP(a) and TP (b) I twin trade, so for ever position I take, I place one trade with TP and SL (a) and a second trade half the contract size at TP(b) same stop loss. Anytime TP(a) target is reached (1:1 RR) I consider the trade winning as at that...
Truth be told, I initially was liking this for a sell order however , technical, momentum, DXY all tell me i should really place a buy order. I like this entry, I never place pending orders before 0850 EST.