forexintel / Blog
Classic case of filtering out false alarms. In H1, the yellow is locked below black signalling a SELL and in H4, yellow is still locked above black signalling a BUY. Would prioritize H4, and will close if yellow locks below black in H4. Expect the prices to reverse up in H1...
If you see my old posts, you'll realize that i have been expecting the gold price to go up at least to 1154. The strategy is to BUY from a LOW and i believe that the previous month's low will be broken only after a high ZZ is formed...
For the past one week, i have posted about prices going to 1154... Trouble with retracements is that they are swift and spikey... By the time we get a confirmed BUY or SELL set up, we are nowhere near the HIGH or SELL respectively...
Entered a BUY order as the yellow was locked above black in H1, price was near a LOW ZZ in all time frames, the price was below the opening price of all the current candles in all time frames. Entered a stop loss a pip below the previous H4 candle...
Another opportunity with a LOW ZZ, yellow locked above black in H1. Will wait for the price to come close to the MAs before entering an ordering. Waiting for the price to reach 1087.00 to enter a BUY...
Since the price went below the LOW of Monday, closed the BUY order with a profit of $12. Will wait for a high for a SELL or a low for the BUY retracement...
The set up is looking perfect for a SELL. I would have happily entered a SELL order if the same set up was there near a HIGH ZZ. Since it is showing up near a LOW ZZ, and the prices were below today's opening price, entered another BUY order, with a stop loss below Monday's LOW...
Classic set up for a confirmed SELL in all time frames. Not comfortable to enter a SELL from a LOW Zigzag. Entered a stop loss just below the order levels, just in case...