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Day Trading vs. Swing Trading vs. Position Trading 86 replies

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Techknow Trading

  • #141
  • Apr 4, 2024 9:46am Apr 4, 2024 9:46am
Quoting Techknow
Bitcoin is doing that retrace thing I was calling for. Remember the zone I called for not to go above before resuming the fall? 68036 or something in that zone. It doesnt have to get there, but it would still be considered a retrace in the wave structure.
This looks very very likely now, as long as it doesn't fly past 68,500.
  • #142
  • Apr 4, 2024 12:14pm Apr 4, 2024 12:14pm
Quoting Markyboi
{quote} This looks very very likely now, as long as it doesn't fly past 68,500.
Look at this sob playing with our levels of importance here. Its just testing all my patience.

Friends, if you see this. I will not allow someone to be censored on this platform that has done nothing wrong. Isabella is a good addition to this forum, and if they continue to be censored, I will leave and create a telegram channel. Hopefully, each of you and I will not tolerate this. Please post in Isabella's favor in the gold forum; where will they stop if we get censored here?
TechKnow
  • #143
  • Apr 4, 2024 12:56pm Apr 4, 2024 12:56pm
Quoting Techknow
{quote} Look at this sob playing with our levels of importance here. Its just testing all my patience.
doesn’t look like It wants to stop tbh.
  • #144
  • Apr 4, 2024 1:08pm Apr 4, 2024 1:08pm
Quoting Markyboi
{quote} doesn’t look like It wants to stop tbh.
Perhaps my levels were a tad off; it's been a long week, However, my stance is unchanged. FYI, hedged heavily at 68 breakouts. So, risk is unchanged and damage mitigated. In Explorer, if you need to see hedge levels on btc. About to close it, though, and add a short now, if it hits that line it may be worth the risk; you should be able to see my constant shenanigans in Explorer; thats why I have it, but I will try to reference trades I make on this account only as much as possible so it all makes sense.

Lol, those lines I made the other day have really come to fruition, as you can see by the updates I have made to
this same chart over the last day or so.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: BTCUSD_2024-04-05_01-04-28.png Size: 25 KB
Click to Enlarge Name: XAUUSD_2024-04-05_01-49-17.png Size: 24 KB
TechKnow
  • #145
  • Apr 4, 2024 1:55pm Apr 4, 2024 1:55pm
Closer look
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_2024-04-05_01-54-53.png Size: 24 KB
TechKnow
  • #146
  • Apr 4, 2024 1:59pm Apr 4, 2024 1:59pm
Quoting Techknow
Lol, those lines I made the other day have really come to fruition, as you can see by the updates I have made to this same chart over the last day or so. {image}
You have smashed that my friend, you certainly know your stuff. I’m done for today. Played with Gold a fair bit, I keep coming out way too early. I need to get better at knowing when to close a trade/ perhaps follow it with the stop loss.
  • #147
  • Apr 4, 2024 2:04pm Apr 4, 2024 2:04pm
I have also noticed over the past few months, before a big news event, like the one tomorrow with the NFP, there is usually some sort of sell off with gold, 30 mins/1 hour before. I guess this is down to traders closing their positions as they don’t want to be stuck on trades during/ just before the news is released?
  • #148
  • Apr 4, 2024 2:28pm Apr 4, 2024 2:28pm
War coming , Gold is fire yall. Hold on to your positions lol.

Quoting Markyboi
I have also noticed over the past few months, before a big news event, like the one tomorrow with the NFP, there is usually some sort of sell off with gold, 30 mins/1 hour before. I guess this is down to traders closing their positions as they don’t want to be stuck on trades during/ just before the news is released?
Retail positions mean nothing. Big players like to get the best positions on the news so often things sell of or spike just before big events so they get the biggest bang for their buck.
TechKnow
  • #149
  • Apr 4, 2024 2:45pm Apr 4, 2024 2:45pm
Tradingview just released volume candles. I haven't used them before but I use orderflow at times and seeing volume would be.. I assume beneficial? Will be interested in trying it out some next week and seeing how much I can lose trying to see if it works.
TechKnow
  • #150
  • Apr 4, 2024 2:54pm Apr 4, 2024 2:54pm
Quoting Techknow
War coming , Gold is fire yall. Hold on to your positions lol.
I suppose i should have phrased this better in the trading world. Protect your positions. lol
TechKnow
  • #151
  • Apr 4, 2024 3:06pm Apr 4, 2024 3:06pm
Judging by the daily yesterday 2265 would be a legitimate retrace zone. If it falls through this zone that is. That hourly looks, ominous on gold.
TechKnow
  • #152
  • Apr 4, 2024 3:12pm Apr 4, 2024 3:12pm
Quoting Techknow
Judging by the daily yesterday 2265 would be a legitimate retrace zone. If it falls through this zone that is. That hourly looks, ominous on gold.
glad I closed all longs now . Bitcoin dropping too.
  • #153
  • Apr 4, 2024 3:23pm Apr 4, 2024 3:23pm
Quoting Markyboi
{quote} glad I closed all longs now . Bitcoin dropping too.
Watch this hourly, then 4 hour closing under the given levels I mentioned previously.
Attached Image (click to enlarge)
Click to Enlarge Name: BTCUSD_2024-04-05_03-22-08.png Size: 26 KB
TechKnow
  • #154
  • Apr 4, 2024 4:59pm Apr 4, 2024 4:59pm
Quoting Techknow
{quote} Watch this hourly, then 4 hour closing under the given levels I mentioned previously. {image}
Your Analysis is usually spot on, fair play to you . So we should continue down now to around the 62-60k area hopefully!
  • #155
  • Apr 4, 2024 10:38pm Apr 4, 2024 10:38pm
Quoting Markyboi
{quote} Your Analysis is usually spot on, fair play to you . So we should continue down now to around the 62-60k area hopefully!
Yeah, as long as no closes above that 4-hour candle in the chart, all should be well. Now just sit back and watch the wiggles work.
TechKnow
  • #156
  • Apr 4, 2024 10:52pm Apr 4, 2024 10:52pm
Attached Image (click to enlarge)
Click to Enlarge Name: BTCUSD_2024-04-05_10-52-09.png Size: 52 KB
TechKnow
  • #157
  • Apr 5, 2024 1:41am Apr 5, 2024 1:41am
Because I got into this trade before I started this journal, I haven't talked about it much, but I have been shorting Nas100 over and over and over again for a fair amount of time, every time I see a bullish move, I'll counter with a sell scalp, while I hold my other sells and gather swap. Quite an effective strategy when the market is ranging with a gap below as it will always have that pull. Also the NAS100 is less likely to get away from you, easier to manage as well. I trade this pair quite a bit, so expect lots of indices once these are closed.

Quoting Techknow
Because I got into this trade before I started this journal, I haven't talked about it much, but I have been shorting Nas100 over and over and over again for a fair amount of time, every time I see a bullish move, I'll counter with a sell scalp, while I hold my other sells and gather swap. Quite an effective strategy when the market is ranging with a gap below as it will always have that pull. Also the NAS100 is less likely to get away from you, easier to manage as well. I trade this pair quite a bit, so expect lots of indices once these are closed....
For transparency here is the original post back on march 3 (updated march 6th) price was 18280
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NAS100_2024-04-05_13-38-00.png Size: 24 KB
Click to Enlarge Name: nas.jpg Size: 43 KB
TechKnow
  • #158
  • Apr 5, 2024 3:30am Apr 5, 2024 3:30am
Quoting Techknow
Because I got into this trade before I started this journal, I haven't talked about it much, but I have been shorting Nas100 over and over and over again for a fair amount of time, every time I see a bullish move, I'll counter with a sell scalp, while I hold my other sells and gather swap. Quite an effective strategy when the market is ranging with a gap below as it will always have that pull. Also the NAS100 is less likely to get away from you, easier to manage as well. I trade this pair quite a bit, so expect lots of indices once these are closed....
Thanks for sharing this Tech, I’ve never really looked into NAS100. I see on the H1 and H4 chart it was just taken a big drop.
  • #159
  • Apr 5, 2024 8:24am Apr 5, 2024 8:24am
Gold is tricky at this current moment in time.
  • #160
  • Apr 5, 2024 12:12pm Apr 5, 2024 12:12pm
So, as gold hits my near target here, I'm gonna prematurely cut off my trades it's so close, and I don't have any reason to keep them longer. I will re-evaluate over the weekend
TechKnow
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