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Dear traders,
Greetings.
- Friday - Feb.28, 2020
The students have big questions on Gold:
1. Why are price (market) makers so cruel on this Friday?
2. The fact that JPY so strong vs USD, EUR, etc? "You see that - USDJPY, EURJPY, etc falls vs JPY, right?"
3. Why Gold falls further even though Covid-19 risk impact is very high at global level? "We should buy Gold today because gold will rise to 1800 soon!"
... a few minutes later :
-- Finally, most people who believe gold will rise higher this week, end up feeling very disappointed. - How do we know the signs of black Friday is coming.
-- soon or later after this situation :
1. If too much news tells us about the direction of a price.
2. Equipped with various analyzes from reliable sources that confirm the price to one direction, to the north!
3. If most people already believe a price will go where.
4. Finally, if a belief about price direction has become a lot of trading positions in the market,
.. in majority to one direction, most of them buy gold as example that day. - Whatever the news we have heard out there
-- We should give attention to strong breakout and breakdown
-- in the time frame at least H1 and H4.
H4
* actual Support 1626/1623 has been tested 3 times
- under the threat of trendline that says "Strong Breakdown #1"H1
* actual Support 1626/1623 has been tested 3 times
- under the threat of triangle pattern + trendline that says ".. Key Breakdown"💭
If too many people have believed that the price is going north, then
-- it usually goes unnoticed that the price will going south. - What's next ?
If the price is under pressure of strong breakdown like that, then
-- next SR will give a small corrections.
-- Only scalpers can catch that opportunity,
-- until .. price reaches the next strong SR for stronger reversal. - Reversal for currency pairs :
-- This is how to determine reversal point more effectively based on MCS - Please keep in mind that,
-- Forex trading is not easy.
-- After getting the right tools -- people who want to be a trader have to train : trading psychology.
-- Because the real enemy in trading is about psychology.
wish you all the best in 2020