GOLD update
Plan is still looking good. Probabilities of buyers getting trapped is ramping up. At the moment, buyers are trying to protect these lows. TP2 is still valid.
Expecting a bullish move onces the lows are swept. Ill only keep a 25% runner in case if price doesn't come back for the top. Keeping the SL at entry price for now.
GOLD update
Plan is still looking good. Probabilities of buyers getting trapped is ramping up. At the moment, buyers are trying to protect these lows. TP2 is still valid.
Expecting a bullish move onces the lows are swept. Ill only keep a 25% runner in case if price doesn't come back for the top. Keeping the SL at entry price for now.
In that case, I only found the 1W BB after my plan was already all mapped out. I use it as confluence only for the reinforcement of my plan ... simply giving me more conviction on my TP level + maybe hedge the short.
Gold update
Shaved off 1/3 of my position at the current weekly low that just got swept. The low got respected twice while inducing buyers by setting them a trap. I'm a shorter and now buyers are trapped ... simply a take profits signal for me.
Since I'm not in the business of predicting the top, I allow myself to profit from this incredible entry. Might now just reverse on me, but I have the luxury to have my SL at BE since I caught the pico top and also took a little bit of profit.
If SL gets triggered, I will wait for the refined highs to get sweep and compose with that after.
If not, I have a nice position which I can still add to.
Level is also a 1W BB ... which I only intend to hedge, not with candle close because this is not how I trade, but with continuation scalps. I will only use the sweep of liquidity for confluences and bias.
For those who already noticed, I dont trade hidden liquidity as I used to. I refined my edge to a different set of rules as for entries.
Hidden liquidity, fibs or volume profiles are only confluences AFTER I found powerful levels of liquidity.
Now price could go to the range high and target deeper liquidity. The short I opened last Monday is already BE with slight profits taken. I don't intend on taking more profits and I'm very much okay to get stopped out since it's a higher TF idea and prefer to run lower with a bigger position. Initial SL is still not invalidated, but the fact that I got the pico top gives me the luxury to trail my SL to BE and re-enter if price runs my SL.
Gold update
Yesterday's sweep of liquidity is worth considering for a plan, especially since PDL has also been swept.
Might look to hedge my short with this idea if SSL gets taken first. Not looking for high RR but rather a safer hedge. If it plays out, going off risk by taking profits at liquidity pool is my play.
Gold update
Shaved off 1/3 of my position at the current weekly low that just got swept. The low got respected twice while inducing buyers by setting them a trap. I'm a shorter and now buyers are trapped ... simply a take profits signal for me.
Since I'm not in the business of predicting the top, I allow myself to profit from this incredible entry. Might now just reverse on me, but I have the luxury to have my SL at BE since I caught the pico top and also took a little bit of profit.
If SL gets triggered, I will wait for the refined highs to get sweep and compose with that after.
If not, I have a nice position which I can still add to.
Got stopped out for 0.25% loss. Entry was no well timed with NY open. The plan was to London to expand before NY open and it didnt happen. Should have closed the trade now knowing NY had nice liquidity to sweep below. Lesson learnt!
Now moving on to the next possible scenario!