My strategy:
I only trade XAUUSD. I do long term analysis on DXY and XAGUSD for investment purposes. Over the past three years I’ve learnt the patterns gold moves in. Traditional forex consolidation patterns. It does it on daily up to yearly. I use mainly patterns to identify the bias on 4HR, Daily, Weekly etc. I then wait for reversals in which I use as an opportunity for entry during sell season. Here I start to look for resting liquidity and wick structure (long top wick meaning likely sells etc). I then apply my break of structure analysis to find an entry. I will be linking the youtube video I learnt the break of structure entry strategy. My RR is quite high. Usually 1:5 minimum. Each trade being around 1000 pips minimum when swing trading (per wave). This usually takes about 6 weeks for each wave to end. Pretty much trading between lower lows/higher highs. As for buy season, I only use basic break of structure for 4hr trades. Gold also has time patterns. For example during buy season you there is a structure. On a buy month, first week sells, next two weeks buy every Tuesday-mid Friday. Last week reverses, creating top wick. Here’s the link for the break of structure strategy. https://t.co/CpNwzWJxIM
We should see sells beginning from today. If sells do commence it means that this month will be a major turning point and will finish the second last wave of sells to 3140. It all depends on how the daily candle ends. Let’s see. #xauusd
350 pip sell already and 2 hr 30 minutes still left to go of the 4hr candle. It broke last daily candle lows from Friday. I would like to see it end lower than 4020.31 (last Fridays lows). Our next target is last weeks lows at 3994.08. Once that is broken be sure we have begun the sell that will fly down 100$s of dollars this month.
Sells are very heavy this month as I anticipated. It filled the gap and retraced and came back down twice. Shows great resistance. 2PM 4HR candle (UK time) is the most crucial of the day. The candle is now ending in heavy red, below the lows of the last 2 4hr candles. Great drops should begin now. If the daily candle ends lower than last Fridays low, we shall see last months lows be taken out this week! #xauusd
1st minute of the candle created a top wick, falling right before the 1 minute candle closure. Creating resistance, selling off straight after. Do expect some sort of retracement as it would be ridiculously lucky for us to only have a 1 minute retracement for the whole 4 hr candle.
Monthly recap:
New month began on a small gap, opening higher than last Friday. This once again is a clear indication of a sell (has to go back down to fill the gap). I have mapped out where I think it’ll bounce between before the sell off, as it has formed a bull pennant pattern. However with my knowledge of patterns and basic pattern analogy we can see it started this pattern whilst selling, therefore it’ll finish off this pattern by selling even further. This month will be a major sell month, last month ended up being simply correction, but the monthly candle ended very low with a long top wick (sell indication for this month). In the two last pictures I am showing the monthly candle now vs how I expect it to end (I’ve mapped out the highest point it could possibly reach this month and the bottom wick isn’t 100% accurate but it will most definitely sell atleast 1000 pips this month). #xauusd
I'm 29 years old, and I've been trading for the past 10 years. My style falls somewhere between scalping and day trading. For the last 9 years, I've focused exclusively on one market GBP/JPY.
I make money almost everyday, even during periods when most traders are struggling. The moment I look at the chart, I usually have a clear idea of what's likely to happen and i just ve to wait for the market to open the door me to enter
The challenge is that I don't know how to teach people to trade. I can explain concepts like support and resistance, but that's not teaching someone how to trade profitably. What I've come to realize is that my trading is built on experience. I spent around 40,000 hours studying the charts in my first four years, I wasn't profitable at all, from 6 am to 8pm, sometimes i trade all night, I lost a lot of money, really alot , but in the process, I learned and memorized almost everything about one currency pair. That level of intuition came from years of repetition, and it's something that's incredibly difficult for me to teach