GOLD (probability) - Trading idea zone2zone 27 Sep - 2 Oct 2021
Updated
Hi, this is my trading plan for 27 Sep to 02 Oct 2021. I marked the chart with zones that I called high value zone (this is from my point of view at least). My trading plan is basically by looking at the PA in these zones, with the big picture of the overall market structure in mind. Consideration of all the confluence but mainly PA.
The line and arrows on the chart is not TL, it is just possible direction from the zone to the next zone.
If you refer to my updates on my last idea you ll be able to understand how I trade. I ve basically close most my position except 2 (hedged buy and sell).
So a little bit of analysis as the market close:
- Price close in the zone that I marked if you refer my previous idea.
- Lower TF from H1 and below is still bullish in my opinion, but needed confirmation after market open on Monday.
- H4 is 50/50 since price unable to breakout from the zone.
- Daily has failed to make an impulsive move down after the pullback, so there is still possibility of price to attempt to break lower.
- Weekly closed as a bearish pin bar, might be a sign of continuation of bearish trend. However it is the third week being bearish, meaning 3 red candles. So a little caution there because next candle might turn green.
- Monthly - last week of the month, there is a chance for a retrace of the candle , and price might close inside the body of July candle. Again caution.
Thank you , hope my idea make sense. Ha ha , safe trade everyone.
The line and arrows on the chart is not TL, it is just possible direction from the zone to the next zone.
If you refer to my updates on my last idea you ll be able to understand how I trade. I ve basically close most my position except 2 (hedged buy and sell).
So a little bit of analysis as the market close:
- Price close in the zone that I marked if you refer my previous idea.
- Lower TF from H1 and below is still bullish in my opinion, but needed confirmation after market open on Monday.
- H4 is 50/50 since price unable to breakout from the zone.
- Daily has failed to make an impulsive move down after the pullback, so there is still possibility of price to attempt to break lower.
- Weekly closed as a bearish pin bar, might be a sign of continuation of bearish trend. However it is the third week being bearish, meaning 3 red candles. So a little caution there because next candle might turn green.
- Monthly - last week of the month, there is a chance for a retrace of the candle , and price might close inside the body of July candle. Again caution.
Thank you , hope my idea make sense. Ha ha , safe trade everyone.
Note
Approaching End Of The Week -- Indeed at the beginning, lower TF show bullish, but as it continue tested the zone, successfully perform a breakout and retest before proceed to lower zone. As it break, it hit my Buy SL ( I hedged) so no worries, my SELL cover that.
Since it is a break out and retest, I did not add any entry. But as the price bounce from lower zone, I add BUY entry again and move my SELL SL to above the green zone. Stopped out in profit, BUY still running great.
- DAILY as suggested, continue its attempt to break lower, succeeded, so there is an impulsive move there. Now it looks like a big green candle, but I think this is just a pullback from the impulsive move earlier.
- Weekly as suggested, today has turned green, but still another day, friday. Not sure yet, have to wait till weekly closed.
- Monthly, yup did a retest back to July Monthly candle's body, but failed, so we ll see.
Please leave a comment if you think that this is making sense at all. I like to keep thing simple as I trade, and try not to be greedy. I use SL and always hedge just in case my ENTRY turned out a bad one. Thank you. Happy trading.
Note
Friday =- Price is half way to the upper zone, normally I just wait until price in the zone for any entry, BUT
- As price is at this level, a few option may happen, after the breakout yesterday it can retest back to the lower zone or continue to rise above. Price can stall and hover around this area until Weekly close. If price retest lower or hover here, when Weekly close it means this area will become a new zone for me to monitor. I still have a BUY position unhedge. So my after all consideration, my cause of action now is, I am going to add a SELL entry here, lock my profit now and wait and see what happen to the market today.
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