DislikedHi Was looking to take a small scalp trade and trying to find my way to this style of trading, was watching Gold Spot early this Monday morning Frankfurt / London open, and concluded only weak market data would allow Gold to make new highs, so for now, the current Market bias would be down. I marked out my engulf zones...as charts show. Can anyone experienced in this methodology shed some light on what was the correct trade to make, or maybe no trade was available to take? Thanks in advance Peter. {image} {image}Ignored
1st think of preventive loss, then think of profit. not the other way round.
your 2nd entry could be a possible entry.
when it is the start of the week, begin your analysis from w1.
now you know why price did not go higher.
i review from your point of view of a m5 entry chart.
ITB - Seeing Orderliness amongst 'Randomness'
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