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Context over pattern + Liquidity fvckery lesson. Context over pattern is King when deciding bias and this is how you cuck retail. Theyre either denied a short entry and forced fomod higher later with shit entries OR they are given the short entry, take out relative equal lows for liquidity and swing the other way to eat their stop and create new structure. This cup and handle ( which coincidently prints at a HUGE 19.3k monthly level ) is the most retail thing i could come up with. I do it to see where the herd mind is and those who are is still trying to short this low. All this could play out and my bullish context is intact.
by DaMaximus
I backtested DeGRAM's Gold Ideas 77 TimesIntroduction Break of structure is a popular trading strategy. It is trade along the current direction of structure but cut loss or even reverse when break of structure. @salehifx_trader and @arashhabibpooor et. al. said they feel disappointed when they receive the trend reverse signal with huge loss. It is possible the price may pull back or temporarily leave the bound of structure. Therefore, blindly following the structure may be not profitable in some time. In this case, I backtest @DeGRAM 's Gold ideas from Apr13 to Jul28, 2021. Jul29 is the day of closing all positions. Note this day is the day Fed updated currency policy. Test Method 1 If DeGRAM said long, close all short positions and open a new long position. If DeGRAM said short, close all long positions and open a new short position. Jul29 is the day of closing all positions. There are 15 data, representing trading in 15 different time stamps of a day. The earliest one is 03:00 and the latest one is 17:00. The time zone is utc+3. Test Method 2 If DeGRAM said long, close all short positions. If DeGRAM said long and there are no long positions, open a long position. If DeGRAM said short, close all long positions. If DeGRAM said short and there are no short positions, open a short position. Jul29 is the day of closing all positions. There are 15 data, representing trading in 15 different time stamps of a day. The earliest one is 03:00 and the latest one is 17:00. The time zone is utc+3. Result I compute the numbers with opening price and did not include bid-ask spread, commission and overnight fee. Method 1 : 03:00 -> -2907.47 04:00 -> -2850.79 05:00 -> -2974.58 06:00 -> -3025.25 07:00 -> -2964.79 08:00 -> -2992.37 09:00 -> -3106.63 10:00 -> -3103.31 11:00 -> -3145.71 12:00 -> -3300.93 13:00 -> -3301.49 14:00 -> -3212.76 15:00 -> -3377.93 16:00 -> -3832.02 17:00 -> -3760.32 average -> -3190.43 Method 2 : 03:00 -> -160.82 04:00 -> -152.48 05:00 -> -162.21 06:00 -> -171.85 07:00 -> -164.90 08:00 -> -163.99 09:00 -> -173.51 10:00 -> -150.52 11:00 -> -174.82 12:00 -> -174.53 13:00 -> -185.05 14:00 -> -180.83 15:00 -> -195.08 16:00 -> -269.06 17:00 -> -289.69 average -> -184.63 Conclusion and Suggestions * Trading break of structure solely may be too late. * Repeatly buy and sell in range can lead to more profit. * We can improve gold trading by predicting the action of Fed. * Gold is long term bullish unless governments want zero or negative inflation, so we can consider other instruments better than short gold.
SAXO:XAUUSD
by clocks156t174
USDCAD: A Few Minutes To Late Hey guys! Today my intention was to upload a trade update idea on Gold, because we entered another buy. We will be doing it tomorrow night... This one is quite a better one with a nice setup just formed minutes ago during FED announcement. We were waiting on USDCAD for another move to the top - for a short entry after 3 cycles of bullishness. The high was actually higher, but on the 4h we are now seeing a nice rejection down. Next goal is to break the grey price zone below. Risk/Reward is over 3 so this is a good setup. See you guys later for the Gold update.
Short
by darian_fx
Bitcoin: Moving FastBitcoin: BTCUSD 3 minutes too late... The fall from the right hand shoulder peak at just below the next long trigger at 7425 has been greater than expected for sure. Any stops under buy orders at 7250 have been blown away. Not good. Any day-trading profits from upside earlier to 4725 neck line now reducedby the bad recent long if buy orders at 7300 were implemented creating a 60 point or so loss. Bad one. Sorry. So now it's flipping around below resistance at 7260-7280 and whilst unable to break above here 7280 and hold it's still vulnerable to more selling pressure. We can easily come back to 7135 and 7077 again if 2780 keeps stopping rally attempts from here. Pattern not good in near term..a break below 7200 triggering that next decline to 7135 and then, if this fails back to 7077. The day belongs to day-traders so far: would rather play short side for now...
BITSTAMP:BTCUSDShort
by sumastardon