7 profits in a row on a Short positions

15 ago 2018

First of all, congratulations for everyone who followed my yesterday's #1,187.80 short Take profit, It happen today (the day after), well done! For now, #1,200 is broken and because of that we can expect Gold to go both ways, up and down and my assumption is to wait on a sidelines for day or two to see clear direction (both technical and fundamental) and then make a move. Now all eyes are on DX. Situation in Turkey (Lira) boosted it up a bit and DX will give us clear direction - but the trick is DX still shows me it's not overbought and that is keeping me on sidelines. When I am not 100% certain about a position I always remain on sidelines. #1,181 was a bottom and it's broken, as said everything can happen. The quantity is not an issue, as is the quality of the signals. I am only looking for high accuracy patterns. On a typical trading day however there are always variances which create pricing opportunities. When an asset gets overpriced another one becomes underpriced as the market is a closed loop. If you want my advice on what you need to do to succeed as a trader is to make sure that you have a strategy to stick to as well as strict risk management rules that you will follow no matter what. As you see some days I advise not to trade (that is a case right now) as capital preservation is equally as important as a profitable call. Don't let emotions dictate your account. If you follow my profits and analysis here, you may have seen that every report I make, I always explain my rationale and technical background behind it. I want people to understand why I decide to enter a trade and how I spot opportunities based on technical chart patterns. Also understand that you cannot always be right and that some times markets behave in an irrational way, which you cannot predict. Good luck my fellow traders and safe trading!