{quote} Market is so dull today. No moves. I'm looking to sell if we get a setup on 1 hour. {image}
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I will be very conscious buying Gold at this level. We could turn sharply and takeout all buyers. Until we have broken above the Weekly high, I can't say we are over with correction.
{quote} I will be very conscious buying Gold at this level. We could turn sharply and takeout all buyers. Until we have broken above the Weekly high, I can't say we are over with correction.
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The Weekly correction might be more complex than a simpe ABC flat.
I won’t assume we have broken out of the correction until price moves above 3499.
If we don't turn @3451 then we may not be over with the B correction, meaning B is a complex pattern.
The last Weekly correction lasted 9 months, We are only 4 months in this correction. Let's see how far this will last.
For now I will be taking setups on buy and sell on 1 hour and 15 mins. Target 2:1 until we are clear about market direction.
{quote} The Weekly correction might be more complex than a simpe ABC flat. I wouldn’t assume we have broken out of the correction until we price moves above 3499. If we don't turn @3451 then we may not be over with the B correction, meaning B is a complex pattern. The last Weekly correction lasted 9 months, We are only 4 months in this correction. Let's see how far this will last. For now I will be taking setups on buy and sell on 1 hour and 15 mins. Target 2:1 until we are clear about market direction. {image}
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This is a high risk setup. I will enter on 5 mins buy signal.
{quote} We turned before getting to 3451 which is good. Now we know the B correction is over and we have started the C impulse. I anticipate this impulse to be sharp so we may not get deep pullbacks on 1 hour. I wil be adding more positing on 5 mins pullback. {image}
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I'll be adding more positions on 5 mins correction. Hopefully we will hit target @3290 before the end of today.
{quote} We will be getting 30 mins correction soon.
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Calling it day. Next week we will be seeing strong impulses.
Now I've figured out why I was losing all my 10k challenges. I was calculating my position sized with Myfxbook. But the problem was that online position calculators don't include leveraging so my risks ends up being higher on losing trades.
I had to do manual calculations to figure out the exact lot size that fits my account size.
So for this 25k account, I only limited my trades to 3 mini lots. Placing 1 lot per trade and 2 lots max. Here’s my result. Target reached without a losing day.
{quote} Calling it day. Next week we will be seeing strong impulses. Now I've figured out why I was losing all my 10k challenges. I was calculating my position sized with Myfxbook. But the problem was that online position calculators don't include leveraging so my risks ends up being higher on losing trades. I had to do manual calculations to figure out the exact lot size that fits my account size. So for this 25k account, I only limited my trades to 3 mini lots. Placing 1 lot per trade and 2 lots max. Here’s my result. Target reached without a...
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Update: $25k challenge passed. The 10k challenge has been difficult to achieve. But I love a good challenge. So I have signed up for a new 10k challenge and I look forward to passing this one. Will be using 5 micro lots per trade and not more that 1 mini lot at a time. Let's see how it goes. Wish me luck!
{quote} Looking for more sells today. I'm not interested in buying Gold at this point. We are getting a sharp C impulse to the downside. Missed the big sell yesterday because I was offline. Had after matters to attend to. Today, if we get 15 mins sell candle, I will take it. {image}
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I don't think we are done with Weekly correction since we are still below 3499. This spike could all be market manipulation. The big dogs spike the market so they can sell at a higher price.
I want to see the market close this week with full candle not pin bar to confirm we are buying next week. Meaning we are still in the B correction. Anyway, I'm staying out of the market till next week.
My FTMO $10,000 Account Challenge
