Gold Spot / U.S. DollarUpdated Gold - Using line chart in trading
A simple line chart with just daily closing prices is sometimes enough to generate a trading plan.
Using daily charts give clarity to trade on the 4h and 1h, giving potential targets and areas to watch out for.
Some simple backtesting will give you the confidence and teach tons about support resistances, and supply demand zones.
Personal trade. Waiting for 1836 for some longs.
Using daily charts give clarity to trade on the 4h and 1h, giving potential targets and areas to watch out for.
Some simple backtesting will give you the confidence and teach tons about support resistances, and supply demand zones.
Personal trade. Waiting for 1836 for some longs.
Note
Today's trade plan.Note
Price bounced... Before it reached my target entry...Whenever price bounces, and you miss a trade. Ask yourself. Why did I miss that trade? How could I have caught that bounce? Was it safe to catch that bounce? Is it logical? Can I find a way to manage my trade and practice good risk to reward while trying to catch it?
Note
Next, ask yourself. Did any of these trendlines catch the trade?Note
Would any of these swing lows have gotten you in?Note
I am in...
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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.
Related publications
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.