Disliked{quote} What caught my eye ( having seen many such price action examples) is how price whizzes down to crash through previous low around 1975:00 and then whizzes back up to UK Open and beyond Frankie Open and breaking a previous high around 1980:00 before reversing. I tried to find ICT type "silver bullets" and other ICT stuff but kept coming back to Time and breaking PFH or Lows and BRN's before crashing back in opposite direction where I would see a trade quite clearly. Never tried GOLD before - How do you find it as a trading vehicle W ?Ignored
i have been looking at the Gold chart for awhile and as we all have noticed that it moves well and fast at certain times. From what i have seen is that it does have good setups during London and US trading hours. Maybe the best during the US Equity time. As usual the two major factors for me are Time and RNs. What I look for to add to my other confluences are the ADR and previous day highs and lows. Price reacts to it quite a lot. Just have a look at previous days Hs and Ls and the reaction of the price. I look for reversals mostly. So atleast half hour into London session the first thing or two i look for is RNs and as i had said Time. They are the two major ingredients. Then some sort of so called trend or price going in one direction. Can be continuation from the Franky open. Need it to react at the RN and then wait for retest. (at times there is no retest and price just flies away or sinks..lol). With retest the Ms and Ws are formed. At the RN i do look for confluences like open, close lines (Session, Daily, Weekly, Monthly), PDL, PDH, PFH, PFL, ADR, Pivots, BOS, Pins, Engulfing Candles, 200MA. The more the better. Nothing guaranteed but better probability. As for profit target i have kind of taught myself to NOT be greedy and take profit at any of the confluence line on the other side. At times profit is just 5pips after spread. Yes i do see price going another 50 pips after i take profit at 5pips but thats just how it is..lol. Its basically how i trade. Oh yes i do stay away from placing a trade during red news and most of my trades are during the first 2 hours of session opens. I have had alot of help from Timetells and Bluesteele. Timetells scalps mostly the Asia session and bit of London and i try to follow him in taking pips along small moves. He knows every heartbeat of GBP/JPY..lol. Bluesteele guided me to Time and RN, the backbone of my trading. The NY equity he always mentions is a goldmine. Its just about recognizing the setup. It throws atleast 20pips once u get it. Does happen often. Nothing is guaranteed though..lol. Just print 1 or 2 setups or formations in ur head and look for those on ur favourite pair at specific time. Its quite hard when 2 or 3 days you don't see a setup so patience is very important. We are not machines so best is to only look at the market at certain times. For me its first 2 hours of each session open and i look for setups within that time. Mostly enter and exit within that timeframe. All 3 or just one, whichever time suits you. We just have to be careful about which pairs to look for, example if you're trading USD/CAD then looking at it during Asia session will not be ideal and there will be very limited setups..lol. As for the ICT you mentioned, i am not aware of it.
Regards
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Holy crap. That is an eternity for a scalper. I've been aware of his name for many years but haven't really followed him closely. From what you've posted Blue it always seemed like he was pretty focused on his money management and cutting losses very quickly.
