forexintel / Blog
The yellow is locked below black MA in H4 but the current H4 candle high is higher than the previous H4 candle. Will wait for the close of this candle to decide on keeping the trade. In H1, the yellow is locked above the black MA but H4 being the higher time frame is more important...
Not exiting the trade yet, as the yellow is locked above black in H4. This being a retracement rather than a trend, slow upward movement could be possible...
At the close of the previous H4 candle, the candle did not close above the opening price to become a white candle, but it retraced enough to indicate a possibility of price going towards 1154.00...
Now that H4 MA is touched, will think about exiting the trade if the current H4 candle remains black at close. So, going to wait till the close of this candle...
refer to my previous post for more details https://www.mql5.com/en/blogs/post/645143 While there is a remote chance of the price retracing down to meet the MA in H4, i am still keeping my trade open, in the belief that the prices would go back to the high ZZ immediately to the current levels...
Encourage you to read the 3 quadrant strategy from the website https://sites.google.com/site/hilotrades/buylow-sellhigh to understand the trading logic. The basic set up as per level 1 trading method is shown below: Entered an order with Level 2 and 3 confirmation. So ignore it for the moment...
#BUYlowSELLhigh i know predicting #forexgoldprice is not only risky but stupid. Still...my guess for next week A guess for day wise price movement...