Timing the Trade

Timing is everything when it comes to trading! How many times have you entered a trade only to have your stop loss hit....and then the trade takes off in the expected direction?? Happens all the time to traders of all skill levels....but mostly to newer, less skilled traders.

Finding high probability trade setups is only half the battle. Timing the entry is critical to managing risk and preserving capital....which is really the only thing the retail trader has any control over (especially when trying to get started trading with less than a well funded account)!

As I have time to post, what I'm hoping to accomplish in this thread is three things:

1. Show how I identify HPT's (high-probability trades).
2. Enter these trades putting time on my side.
3. Trade using less risk and lower margins.

Disclaimer: The information and charts that I post in this thread are strictly for educational purposes only. Absolutely no trade recommendations are being suggested or recommended!

Thanks in advance for stopping by... hopefully my efforts will be worth your time!

More to follow.....

Here is a chart and my analysis of the US Dollar Index on the futures market:

Price action has broken a down trend line and has moved into a supply zone. As the US market reopens off the Labor Day holiday, I am looking for price action to move down off this level into the fib retrace levels over the next couple of days.

If and when this happens...I will be an interested buyer between 81.58 and 81.41

Here's my take on Gold futures:

Gold Futures update:

Closed the earlier scalp trade for a profit. Price action has reached an 'area of interest' for me. I will be looking for a short entry.
I plan to use a binary option for the short trade. I will chose an expiration a few days out. This way I will put time on my side. Even if the trade moves against me,
I have until the option expires for the trade to move in my favor. I will go into more detail on the next post.

Update from Post #2:

Unfortunately for me, I was away from the computer last night and had no time this morning to look for setups. his resulted in a couple missed opportunities. The beautiful thing about trading is that there is always another trade around the corner if one has patience.

GC: Gold Futures moved up into and then out of the area of interest I had identified on post #3. I was hoping to get an entry higher up on the supply curve at the 76.4% fib retrace.

Excellent Analysis bantro! Will be following your viewpoints.

Thanks Tilf, appreciate the comments

DX (US Dollar Index):