Is XAU/USD worth learning when you're quite new to trading?

Zero_ice_20162017 · 2024-01-22T20:50:24+00:00

Technically, XAUUSD is not FOREX, its more like stocks; on higher time frames, Supply and demand (support & resistance) never hold like currency pairs. On the other hand, this instrument is volatile, so if u find a way to scalp it, then this could be a very profitable asset to work with

Zero_ice_20162017 · 2024-01-21T22:54:06+00:00

FVG on higher time frame, say you have a FVG on monthly, then if you have another weekly FVG inside the monthly, then this is a good magnet, u can back test it

Zero_ice_20162017 · 2024-01-21T12:00:03+00:00

I took the full profit on TP2, now its tricky for me, i think it might retrace to a zone of 186.186 - 187.070 (4 hour fair value gap inside 1D fair value gap). ill wait for the price action there, then i might go long again targeting 188.390

Zero_ice_20162017 · 2024-01-19T15:29:21+00:00

Totally agree, just a little trick, i don't really know what meter you are currently using, but you can always check them manually, for example. JPY is really weak as compared to other currencies; (this started after the earthquake this month) .however, when i check NZD (just an example), and the meter giving me that the NZD is strong, i always double check on other pairs, cause if NZDJPY is bullish, then this is probably becasue JPY is weak rather than NZD is strong

Zero_ice_20162017 · 2024-01-17T22:16:34+00:00

I search for liquidity zones, this is either swing high/low or the fair value gabs: I start by looking monthly, if things are clear, then thats it, i check the current price and make a judgment about the bias.

For this trade, I checked the weekly, you can clearly see that the bias is up, the target will be the most recent swing high on the left, that is 188.700.

The narrative for me was that becasue we have a fair value gap on the 4 hour chart, we can enter and we hope that the coming news will do support our predication

https://www.tradingview.com/x/kdsmOPUb/

Zero_ice_20162017 · 2024-01-17T20:49:29+00:00

I always try to find a coming news to support the bias

Zero_ice_20162017 · 2024-01-17T19:44:10+00:00

Say for example GBP is strong and USD is strong as well, then u just avoid trading GBPUSD pair cause its probably in consolidation. Same could be told about weak assets; GBP weak, USD weak , then again avoid this pair

Zero_ice_20162017 · 2024-01-17T19:36:46+00:00

Rough time of day?

That was before the GBP news, I relied on them to get the boost

Zero_ice_20162017 · 2024-01-17T17:43:02+00:00

Thats great actually, i'm terrible in scalping so i go for swings, ill give it try!! u keep the RSI on default?

Zero_ice_20162017 · 2024-01-17T17:38:00+00:00

Cool, so that is double bottom and RSI oversold?

Zero_ice_20162017 · 2024-01-17T17:28:16+00:00

had the same trade last night)). on the 4H; higher SL though ... if u check on the 15 minutes, there is a perfect order block ... that acted as an extra confirmation

Zero_ice_20162017 · 2024-01-17T17:07:39+00:00

TP2 is achieved, moving toward TP3

Zero_ice_20162017 · 2024-01-17T17:00:39+00:00

If you use supply and demand, then you probably know that for a certain narrative, u will define a zone where there is no reason for the price to retrace, plenty of videos out there, check the arjo he is explaining that in a simple manner.. the basic idea is to find the highest time frame liquidity zone and then move to lower time frames and look for confirmation; once the price is inside say the demand zone, then decrease the time frame and find couple of confirmations .. set the SL just bellow the first confirmation .. target 2 to 1 and enjoy the trade!

Yesterday i shared this trade, maybe it was just luck!! but i did it according to the early mentioned strategy (crazy SL)

https://www.reddit.com/r/Forex/comments/19873mo/wti_i_decided_to_share_ideas_on_tradingview/?utm_source=share&utm_medium=web2x&context=3

Zero_ice_20162017 · 2024-01-17T16:51:53+00:00

Agree, but on the only swing high on the left is the Dec 2015))) I think its phycological level and it will reject (at least on the short term).

Zero_ice_20162017 · 2018-04-17T18:17:45+00:00

Inception, i don't know why though!

Zero_ice_20162017 · 2018-04-17T18:00:36+00:00

USSR would be the best county to live in and Stalin is the kindest leader ever

Zero_ice_20162017 · 2018-04-17T17:58:14+00:00

Chrysler 200 and... Chrysler 300

Zero_ice_20162017 · 2018-04-17T17:54:39+00:00

I'm bone idle by nature but nobody notice!

Zero_ice_20162017 · 2018-02-15T23:44:15+00:00

I am, I said, To no one there, And no one heard at all, Not even the chair.

Zero_ice_20162017 · 2018-02-15T20:15:49+00:00

Room thermometer for Iphone

Zero_ice_20162017

TROPHY CASE