01 - 05/11/2021 XAUUSD As Predicted
Previous prediction:
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COMMENTARY
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What to improve.
1. Don't be afraid to enter & reenter (max 2).
2. Let the SL, TP & RR do it work
Monday, Wednesday 1:2 RR
Tuesday 1:3
Thursday, Friday >3 (depends where the liquidity pool)
3. Thursday & Friday scale up
-If the week if up by >5, risk more on high probability trades on Thu & Friday
-See daily chart, if previous day offer
a) Engulf, Pinbar, Railroad
b) LOW/HOW
Example, on this chart, Friday NY session, you are up by +10%, so why don't you trades with 2-3% on Friday?
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THE TRADING PLAN
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MUST
See how price behave:
1. High Low Week / High Low Day
2. Round number 55, 00
3. Daily candlestick pattern
4. Entry timing
ASIA 0400
LON 1000
NY 1600
5. Entry candlestick
Pinbar
Engulf
Railroad
6. Always TP except Thursday & Friday > 3RR
Mon Wed 1:2
Tue 1:3
7. SL breathing
25-27pips
8. Pending order, never Market order
See how price behave:
ADDITIONAL CONSIDERATION
1. Weekly bias
Buy B * Sell S
S S * B B
2. Typical candlestick structure
Anatomy of candle, always push to other side first before real move
3. Peak day, beware on
Monday
Wednesday
4. Box move
XAUUSD 25-50pips (up to 100 if PEAK)
XAUEUR (look for correlation)
5. Timing management
2-3hrs max, else cut loss
6. If structure failed
Wait for 3 pushes to next HOD HOW / LOD LOW
----------------------------------------------------------------------------------------------------
COMMENTARY
----------------------------------------------------------------------------------------------------
What to improve.
1. Don't be afraid to enter & reenter (max 2).
2. Let the SL, TP & RR do it work
Monday, Wednesday 1:2 RR
Tuesday 1:3
Thursday, Friday >3 (depends where the liquidity pool)
3. Thursday & Friday scale up
-If the week if up by >5, risk more on high probability trades on Thu & Friday
-See daily chart, if previous day offer
a) Engulf, Pinbar, Railroad
b) LOW/HOW
Example, on this chart, Friday NY session, you are up by +10%, so why don't you trades with 2-3% on Friday?
----------------------------------------------------------------------------------------------------
THE TRADING PLAN
----------------------------------------------------------------------------------------------------
MUST
See how price behave:
1. High Low Week / High Low Day
2. Round number 55, 00
3. Daily candlestick pattern
4. Entry timing
ASIA 0400
LON 1000
NY 1600
5. Entry candlestick
Pinbar
Engulf
Railroad
6. Always TP except Thursday & Friday > 3RR
Mon Wed 1:2
Tue 1:3
7. SL breathing
25-27pips
8. Pending order, never Market order
See how price behave:
ADDITIONAL CONSIDERATION
1. Weekly bias
Buy B * Sell S
S S * B B
2. Typical candlestick structure
Anatomy of candle, always push to other side first before real move
3. Peak day, beware on
Monday
Wednesday
4. Box move
XAUUSD 25-50pips (up to 100 if PEAK)
XAUEUR (look for correlation)
5. Timing management
2-3hrs max, else cut loss
6. If structure failed
Wait for 3 pushes to next HOD HOW / LOD LOW
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