Gold - How do we know the signs: "black Friday!"

Gold - How do we know the signs: "black Friday!"

29 February 2020, 21:31
Yohana Parmi
7
640

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

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