3.24. 25 in this video it looks like the Market's going up on the ES and Tesla. the oil Market has only traded a little bit lower than its recent High and it's not clear if the Market's going to make another move to a new high or if it's going to go a little bit lower and you can see that in the bars which are very narrow in their range and this looks different from when the market was actually actively going higher until it went to the end of the ABCD pattern which is a reversal pattern. Because the gold went to the end of the ABCD patterns going higher I am concerned that the Market's going to make a significant correction lower.... but I would be prepared for retest and minor Moves In the goal going higher and lower and that's what I tried to show to you in the video and I'm sorry that my presentation was so scattered and probably not easy to follow. the way you trade a market has to do with the kind of Trader you are... do you scalp a market or do you trade for longer trades. you could have made a few trades in gold and you could have made nice returns if several $1000 trades are suitable for you... and you could have traded as a buyer and a seller if you recognize the reversals.... but that is not an easy way to live. you could do it with discretion and not take every trade and if that works you may not need to take antacids and ulcer medication.... most people are not geared to that kind of trading and probably have a very low chance of being profitable. I am not a stop and reverse Trader.... but I show the patterns because I believe markets trade to the buyers and the sellers and that it is evident on a chart. if you don't care to be a stop and reverse Trader it is still to your advantage to know how markets trade and retest. to my thinking it's much better to at least know what it looks like as opposed to staring at your chart and having no real point of view other than the fact that you're not quite sure what the Market's going to do and all you can think about is losing money..... and even worse stay in a good trade too long and give all the money back because you don't know when to get out of a good trade. when you learn how to trade you still have to deal with the reversals in the market it's never going to stop... the need that you have to evaluate the price action that can work against you. my personal belief is that it's not easy to trade, I personally don't enjoy Trading but I don't mind making money if I do trade. my mission is to show you the trade location and the direction of the market. and the stop and a little Target without hitting the stop first... and if you can do that then the market should trade in your favor for at least a while and if it gets to that initial Target you have a reasonable reward and if it continues going in a Direction that could take some of your gains back.... but you haven't lost money yet.... that's okay..... it's still better than getting into markets and immediately losing money because you're not reading the market and you don't have a reasonable plan. I am sorry for my delivery during the videos... it's not intentional... and if it gets worse I'm going to have to stop. a fully intend to trade at this point Until evidence shows that I'm not trading well. I will go with the flow it's been fun.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.