GOLD - STILL BEARISH - Always follow technicals
GOLD - STILL BEARISH - Always follow technicals and patterns. Life and the market follows patterns but will change based on recognised patterns. Like life, FUNDAMENTALS/EVENTS out of your control will change the pattern.
Intraday trading:
1: Look at the long trend - week and Day
2: Look at news and reports - This will give basic validation on volatility and trend changing.
3: Chart your trend on a Day and 4 hr scale:
4. Then the lower time frames follow the older so trade the trend on the lower 15,30,1hr - (1 and 5 for scalping only)
5; Your entry and exist are simple high and lows.
Re check fundamentals/Events/News - Morning Noon evening if possible and adjust accordingly.
Intraday trading:
1: Look at the long trend - week and Day
2: Look at news and reports - This will give basic validation on volatility and trend changing.
3: Chart your trend on a Day and 4 hr scale:
4. Then the lower time frames follow the older so trade the trend on the lower 15,30,1hr - (1 and 5 for scalping only)
5; Your entry and exist are simple high and lows.
Re check fundamentals/Events/News - Morning Noon evening if possible and adjust accordingly.