Flying Dutchman

Hi ITB,
I'm not a Gold trader so I was interested to see your chart above.
I agree we are all seeing the same thing around the zone.
When other traders show interest & come in, we have opportunities.
All markets seem to play to the same song so once we comprehend their tune we can join in with the band.
All the best

.

Cheers fxpider.

Continuing with the GBP/JPY charts that i had posted earlier. The most recent target (top) has also been taken out. There are more targets on either side. I am just watching these higher time frame charts. This behaviour to me atleast shows that it is highly organised. Travelling from one target to the other, taking them out and at the same time creating new ones for future visits. As traders we have to learn how and when to trade them. Thats where analysis and confluences come in to help with the probability of trades. I haven't traded anything higher than the 5 minutes chart so its a learning process for me. The higher time frames need less screen time which sounds good but a lot more analysis is needed cos of bigger stoploss but the returns are big too. Trade Well All.

NU, Last week's PA.

Consolidation in a box, within a larger box. How would you interpret the chart and what would be (if any) your BO bias?

I don't trade this pair but i do see some targets. Some active and some broken. There are also 3 steps move upwards marked and price has turned downwards after hitting the top target and the RN. It also completed its ADR. Monday may show us whats in store, can go either way since it will be start of the new week. Targets on the downside is quite close but again depends on what price wants to attack first.

Hi Kevin,

For numerous reasons in no particular order) and I must preface this with I am a discretionary trader..some of my entries like the 50% may seem mechanical but they are not..and I use numerous confluences to make a decision...Sometimes its more involved than not...

Being a discretionary trader I still employ many rules and criteria that must be met to place a trade and of course with exits etc. But there is always a level of thought that goes beyond... The nuances of trading... Much like driving a car with time we operate without consciously thinking of all the little details.

This is why observation IMO is such an important skill to develop in trading...One has to be aware of all that is going on around them...again like driving..Looking behind you in front and left to right..

With that said here are some important factors of why I was long...

First Market structure... HH's HL's 1m chart attached will show. Then we have price make a VIB with the 1030 candle ( I have attached Futures chart and MT4 to show this) There is also a VIB on the 855 candle..that did not get my attention...as I did not see it...I only noticed after the major 1030 VIB developed.

Price then retraced cleaning up the 855 VIB...and another thing I have eluded to is that I pay very very very close attention to Asian OHLC and 50% level when trading NY.. as I have found thru countless hours of observation there is a high probability of a reaction in, at, around those areas..

Price is above the 15m 200sma price is above the 5m 200sma its probable price is going to go back and fill that 1030 VIB....My OR is 72pts so 50% of the range is 36 pts. which coincides with the 50% level.... So when I am entering off the 855 VIB and bounce of Asian high.. I have an easy 50pt target to the 50% level..

And as price unfolded and starts closing above the 8ema channel as it nears the VIB and 50% level... That signals momentum ...THis is when one needs to sit and have the patience to watch price unfold..This is a major reason I use the 8ema channel..its to gauge momentum... Exits I have shown how to use it. Entries as well..and trade mgmt....staying in a trade by following the momentum of price... Just a simple visual way of reading the tape so to speak.

Hopefully that answers why I was long...and again I have numerous setups and variations which is why I just dont follow a close outside the OR 1 hr box...Or simply enter a position simply on a retest of the 50% level... Overall context of the road I am driving on and the confluences of the road conditions I guess one could say,

Heres some charts to reference what I am talking about.

Cheers
Blue


Volume Imbalances and FVG





Market Structure

gold

Hi All, My first trade of the week didn't work out. Well, maybe its Monday..lol.

my view if your don't mind.

Hi Inthebox, Thanks for the reply. I mostly target 5 to 10 pips and seems i was a bit early in analyising the short term lows. There was RN, Pins, Time as confluences but at times it doesn't work. As per ur 4hr chart it did turn a little later than my entry.

Regards

gold result

gold.
now targeting d1 level around 1981.50.
bullish bias, does not matter where i long.

gold opposite signal exited.

For the price industry, we should treat it objectively. When faced with sudden market conditions, any behavior will be invalid

Them levels and Vees again TT

Forgot the five minute

Uff!! escaped unhurt.

Next Wednesday, we have the NZD rate decision. An increase of 25 basis points is widely expected and the RBNZ may surprise the market with a 50 basis point hike. Quite lucky that the price retraced for me to close my positions in green.

you seized it man

london session result.
long continuation with target hit.