GOLD 1-minute chart scalping, lightning-fast, gained 227 pips
Hello, this is Lucky.
Everyone, the hot days continue, please take care of yourselves.
Now, today I’ll tell you about my clumsy trading episode.
GOLD 1-minute scalping ground-speed, earned 227 pips
Actual chart here ⇩⇩⇩
I jumped in at the yellow circle,
It was a bit early
It retraced once
But what’s important here is market context
If you have solid reasoning that “this market will go up” and you can recognize the environment well, then a drawdown doesn’t
mean you need to panic.
I wait for the next opportunity
First thing I watch is the yellow horizontal line
This is the resistance line I’m mindful of
Then, draw a downtrend line from the high of the first wave
Just these two things. It’s okay even without indicators
If you have market context, then you just wait for the moment when price lifts above the downtrend line while being supported by the resistance line
to break the downtrend line
That becomes the second entry opportunity.
For those using channel lines, that method works too.
What matters is using a method you’re comfortable with and can repeat the same judgment
I simply prefer drawing the two lines: resistance line and downtrend line.
Now, for you all... where do you think the second entry point is?
Please think about it while looking at the chart.
To readers who always follow Investment Navi
[With a bonus]
A channel line shows a "price range",
Bollinger Bands show "volatility (magnitude of price movement)".
When you combine these two,the reliability of breakouts andthe timing of entriesbecome much clearer.The basic idea for combined use