Oil gold

22. Aug.

8.22.24 in this video I talk about oil which is a reversal pattern to go long but I would be looking for it to possibly reverse and create a significant possibility of the market moving lower. to clarify this I think the market is a long trade for oil but I would be looking for specific patterns that I described in the video which would change my strategy and favor the short side of the market. gold made an all-time high and I stated at that time that the market is likely to reverse and go lower because of that 2 bar reversal but I was concerned that it was very likely for the market to range and you need to trade arranging Market differently than a trending Market. in addition you're asking for trouble if you're going to Short a market at the all-time high because the markets show the buyers at the all-time high and so if the market continues higher you can lose a lot of money. on the other hand markets like this normally range for a while and when a market is ranging you treated differently than a trending Market and this is a way for you to trade the market as a ranging market and not a trending Market and you use the upper and lower margin of the range box to look for buyers or sellers which I described in the video. much of the time when you use a range box you expect that it will transition and go higher or lower by the range of the initial box. if you can't think in terms of range boxes and distinguish them as being different from a trend it makes it very hard to handle markets like gold that made an all-time high. in many ways looking for the range box which is exactly what happened it gives you time to make a trade decision without rushing and without impulsively making trading decisions that are ill conceived and likely to cause damage to your account.