Trading Gold on lower TF. Educational only. Very recent.

6 giorni fa

Here is another example of trading on the very low time frame. I was live here trading and I had 2 Short positions, one of which I close during the video.

I would not say that being on the very low TF's is better. But what it does allow for is to see the way price is moving in the lead-up to the low timeframes 1-15 minutes. Down on the very low TF's you will see the same patterns and formation just like the higher TF's, lots of D/tops, D/bottoms and even the 1 second has these patterns.

I think its an advantage to be on very low timeframes when trading things like Heads n Shoulders patterns because you can see what is happening in the price action.

For example, say you are waiting for price to move up to the neckline where the pattern may trigger your Long and you are on the 1 minute timeframe, but you see that price is ever so gently receding and moving back down. Well, I would drop to the very low timeframes all the way down to 1 second. Now back to our example, on the 1 second TF I see a double top and because we are on the 1 sec things will move a bit faster.

However, I have confirmed why price is moving back a bit on the 1 miute. The very low TF's confirm that price is moving down a bit due to a Double top forming, so I do not worry so much and I wait until the D/top plays out and then my pattern on the 1-5 minutes will hopefully stay in play.

6 giorni fa

Nota

FOMC soon about 15 minutes.
Interest rate reduction is very highly likely but it does not mean the Sell will be on. Maybe priced in. But then again, Gold could tank.