Gold

24 Okt 2023

10.24.23 9:30 am The reason I started talking about gold is that I wanted to frame the market to see if there was anything that I could trade today. So I ended up showing you how I would set up my lines and my support resistance areas for what has happened up until the present time. there was an opportunity to short and to go long in this market.... but as you listen to the video you should realize it's not always that easy to find a trade with a good target and a small stop. Because the market is contracted here it's extra difficult because the reversals are quick and they give you limited reward, and it's not an easy trade unless you want to be up all night. but I still think it shows you where the buyers and sellers are. And I'm showing you the way I use range boxes and my other tools. It is possible that in the next hour or so if the market starts moving higher than where we left off there might be a long trade here. I think a contracted market like this is more difficult to trade but if you're careful you might find a couple of gap trades... in-N-Out trading... if you're selective and you have the ability to walk away from the computer before you get burned out. In the end, my belief is to have an opinion about the market looking at these patterns and the price action as opposed to having a Vague feeling... About the market.. which makes this impulse trading as opposed to thoughtful trade because you see an edge. It's best to stay away from the hard decisions... and wait for the easier ones.