any trades taken my friend?
No waiting like a crocodile with patience and discipline for the right moment
Heads up everyone)As we know price moves up and down in swings rather than in a straight line and now recently the resistance break the support line on a gold daily chart.As we can see in the chart below the overall trend for the gold is strong bearish and now i am looking for a bearish PA signal at a value area to get in with the downtrend on a pull back. Such trades with the trend are classified as high probability trades by price action traders. "A trend is your friend"
Looking at how you determine S&R zones
I'd say it's Timon, right?
What is "timon"?
AS a rule of thumb, Newbies should never pick TOPS and BOTTOMS on Live. They can do it on demo and should win at least 8 out of 10times, APPLYING PROPER Money Management,before they attempt in on Real account..
In 4h Time frame, candle stick pattern like pinbars can be accurate, but a lot of it are also not. This depends on how a trader spots a support/resistance. Failing to spot one, will surely lead to losses... and more losses.
I trade 4h charts even without those candle stick patterns, as long as i know where are S&R's. That's all i need. Candlesticks just gives added confirmation.
i appreciate you style because i can understand how this works. I know this is profitable , if used by a trader with the right experience. But i know your not telling your "ace" on how to spot resistance/support. Your examples are good, but i think your most important strategy is not explained there, as i can see it.
I'm also using a similar approach, but i take reversal signals on certain pattern completions and confluence of ratios and round numbers
In addition to H4, I also take the breakout approach ,when S&R levels are broken. This can be easier for newbies to trade.
Sorry man, I thought your name is Timon Weller.
i m new here... is this thread active???
please all time update this thread. if it will continue then i think it will be a hottest thread. please all time update this thread
yes i think he find good setup he already tell this so we waiting