On gold, we have observed contact with a daily trendline. What's next from here?
Today's post is about understanding the importance of thinking in terms of multiple directions and outcomes. Most of the time we focus only on one direction. "I think this is Bullish" or, "I think this is Bearish" But what if that's not the case? Do you have a plan to follow in case the price does not move in your main direction? It's important to develop this because if we have a strong bias for one side of the chart, we may miss great opportunities that come in the other direction.
The title of today's post is 3 possible outcomes I'm expecting on XAUUSD. Let's go one by one.
Scenario 1: Bearish Resolution
Scenario 2: Bullish Resolution A
Scenario 3: Bullish Resolution B
--------------------------------------------------------------------------
All these scenarios are situations that I tested in the past and that which I found an edge on them. But remember this: NEVER trust me, it's your job to look into historical data, and confirm these anomalies. Confidence in trading comes when you see things on your own.
Thanks for reading! Feel free to share your ideas, charts, and doubts in the comments.
Today's post is about understanding the importance of thinking in terms of multiple directions and outcomes. Most of the time we focus only on one direction. "I think this is Bullish" or, "I think this is Bearish" But what if that's not the case? Do you have a plan to follow in case the price does not move in your main direction? It's important to develop this because if we have a strong bias for one side of the chart, we may miss great opportunities that come in the other direction.
The title of today's post is 3 possible outcomes I'm expecting on XAUUSD. Let's go one by one.
Scenario 1: Bearish Resolution
Scenario 2: Bullish Resolution A
Scenario 3: Bullish Resolution B
--------------------------------------------------------------------------
All these scenarios are situations that I tested in the past and that which I found an edge on them. But remember this: NEVER trust me, it's your job to look into historical data, and confirm these anomalies. Confidence in trading comes when you see things on your own.
Thanks for reading! Feel free to share your ideas, charts, and doubts in the comments.