As we know trading is not easy, right?
Let's start it with creating a trade plan when entering the market.
because a trade plan can help your trading psychology.
We talk about Gold, and here is fundamentals aspect.
- FED Chair Powel has announce that he have plan to hike interest rate 4 times this year.
- Higher interest rates are negative for gold because they raise bond yields, reducing the attractiveness of non-yielding gold, and tend to boost the dollar.
- 1. President Trump says "Possible progress being made in talks with North Korea"
- and so on.
- President Trump decided to place tariffs on imports of aluminium and steel on Thursday.
- Fears of trade war push gold prices higher.
- The risk of trade wars which could impact economic growth and raise uncertainty plays into the hands of gold.
- 2. President Trump says ""may be false hope, but the U.S. is ready to go hard in either direction."
- and so on.
How about technical aspect.
Today I would like to share with you about Gold this week.
This screenshot is taken on Friday March 2, 2018.
People who understand how market works,
as known that price is moves on each SR like we walk on the stairs,
that is SR Strategy, then they can get benefit from trade plan above.
Example how to work on a stage :
-- and even you can create your own trade plan here.
But, for people who do not understand the meaning of the picture above,
it is true that trading forex may not be suitable for all people, including you :)
so please ensure that you fully understand the risks involved.
- Do you already have trade positions, and market against you?
- -- A2SR will assist you by this technique:
- -- https://c.mql5.com/31/205/automated-actual-support-resistance-a2sr-screen-4329.gif
By the way, a trade plan above is not trade recommendation,
but you can use it if you agree and understand that
-- or please use your own trade plan :)
Good luck, traders
wish you all the best