As you have noticed in last 3 Educational Ideas how gold 0.25% move between the Clone levels. The current reference range was identified on daily chart. Price has been in this range for a while with 1231 as magnet area for now. Lets take the advantage of this range and take some trades to trade between Clone levels of Ref Range.
a. identified range on daily (1244.xx-1219.xx) b. Wait for range breakout Up/Down (till it breaks out of range ,scalp between levels of Reference range) c. Cloned the identified range and added one at top(Clone A+) and one at bottom(Clone A-) of reference range d. Keep adding the Clone as it moves in the direction
Once it break's out of each box ,repeat the step d and go with the flow of the price.
Confirmation techniques: a. one of the simple ones is , i look for Pin bars at levels (some marked on chart as arrows) b. Once level is broken(candle close) ,always wait for the level to be retested and take the trade once it gets back in to the direction of the trade you are looking for.
Note: this is not a trade advice ,it is just for educational purposes. I will keep updating as the price moves.
Happy Trading with lots of green pips.
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Daily Chart with range
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as expected both targets achieved and price reacted at Clone bottom 1219 and now back to 25 level. watch here for weakness n take the direction. i will update as soon as i see the trade
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Watch out Pin bar is forming on hourly at 25%level ,get ready for one more short trade ,one the current hour is done as pin and a followup of red candle
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watch for blue dash line breaks for the trade (i use 15m or hourly to catch the weakness in PA)
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Next trade opportunity ,break of this blue dash lines
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so far so good ,after yesterdays nice profitable down(1230-1219) n then up moves(1219-1236 so far). Lets see what we can get today . price is currently struggling to get to 1238, let see whether we get that or not. we are at nice structure zone. watch for price weakness in this zone marked in chart.
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let me know if you guys still want me to keep updating the trade opportunities on this?
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So it broke that resistance and Clone level 1238 and price is approaching to the Reference Range top level at 1244.xx ,so the momentum is towards upside. Once the price gets to 1244.xx we will re analyze on next trade.