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my opinion concerning gbp and euro (because they are close each other)
gbp
I've opened 2 trades because I saw "accumulation 1" and at that moment i didnt have clear idea concerning future movement. So I left orders bit higher of last accumulation levels and has entered into position 9 of Oct. Price goes up and made another accumulation and I expect uptrend.
It could be long trade.
euro
if I made right conclusions concerning future mvmnt of the price -> this is how it will work: 161 - 261% on the long run
also plane find points to enter into the market
didnt show any trades for a long time because im focused on gold and endless experiments with my understanding of market structure. Howto trade if i dont understand internal mechanics?
2nd thing im worry about - which tools to trade? my style of trade isnt to catch a couple points and left the market + im looking for volatility
last 1/2 year i study oil and seriously consider to reduce number of tools: currencies makes tons of surplus moves (actually they all are not "surplus" and have a reasons but for me its just extra noise), they are slow, mostly depends on USD and takes extra attention
I could trade gold, oil and m b (in a future) some indexes or completely left H1 and trade currencies on H4 and higher. But long trade demand higher level of market understanding
So im considering ….
gold
about the gold, i expect uptrend, I've missed a few profitable trades but it isnt important now, the thing is - in my trade i (mostly) understand how gold make its moves
as I wrote before I was waiting ups in gold (and missed it, was away from terminal becuase thought gold made it later)
so, on morning I saw "accumulation1" and sell from market + added stop near the border of this accumulation but not above, because if price goes above it - this is strong signal for ups
about goal: after we've renewed maximum why doesnt renew minimum? It's obvious in this situation. Last minimum was 24/10 I added TP near this and close market till evening. So it is.
Using such strategy with gold I dont need any volumes, indicators and other stuff. (they are not bad but for gold I dont need it)
Long time - no see, heh. But i still alive, still have different trading activity and visit forum occasionally. At the moment i don’t have too much time for trading. If so when how / what to trade? My answer - trade something slow with bigger timeframes. I took currencies: 6e, 6b, 6c on macros (10 contracts = 1 full contract) and also watch gc. Preferred timeframe - H4 and up. So i’ll don’t post too often.
I still believe in 2 things: 1) trading should be simple 2) i trade only what i understand, if i don’t understand - i don’t trade.
My english still poor and if you don’t understand something - ask me for clarifications.
So, lets roll.
Currently i focused on 6b because i understand (hope so) current movement of this tool.
yesterday I got a signal and reversed from short to long (10 micros = 1 full lot) - all shorts were closed
right now I see money distribution - I might be wrong when market closes my position and I'll charged and got some expenses but not losses. Why? Because it's all in accordance with my plan. Losses its when you did something out of your plan.
why I've closed 1/2 of whole position?
1) we are still in short on H4 and its might be a correction. If we'll goes long - later I'll search opportunity to add to my position.
2) end of the trading day (tonight or tomorrow market could be different) + I protect myself from extra expenses if price goes short - distance in long and in short is always same.
My opinion: we are here for money distribution from previous longs. It means 2 things: 1) after accumulation (i think price stays in the area till tomorrow news) we continue longs or 2) we do something like renew highs and drop. I expect to see price at least near 1,4 or so because 6b loves round numbers.
Why we can drop? To make correction on H4 (2nd wave). How far? I don’t know we are still down trend on D1 (and uptrend on W1) If we drop I will watch how the price reacts on the current distribution. But its important.
Anyway such corrections in currencies gives good opportunity to make new trade.
Lets wait.