RogerTC
Special Consultant to the FPA
- Messages
- 352
Hello,
These are the trade plans taught in seminars.
SOR=> Scalp O Rama
MTP=> Modified Trade Plan
and we have STP which is standard trade plan.
Regards,
Gold GOLD PRO WEEKLY, November 11 - 15, 2019
- Thread starter Sive Morten
- Start date
Hello,
These are the trade plans taught in seminars.
SOR=> Scalp O Rama
MTP=> Modified Trade Plan
and we have STP which is standard trade plan.
Regards,
Sive Morten
Special Consultant to the FPA
- Messages
- 18,669
Greetings guys,
Roger provides great Silver report&update, and we have to say that gold situation stands similar. As entry setup as following price action, even targets mostly are the same:
On 4H chart our nearest target is K-resistance around 1474 area, similar to Silver resistance, price stands relatively close to it. But as we have weekly K-support and weekly Oversold condition - we do not exclude continuation to next 1488 K-area later, which includes major 3/8 resistance level:
On 1H chart market has hit W&R bar XOP target (not shown here). And, as we said earlier, next price extension could take the shape of reverse H&S pattern. Now price has formed bullish reversal swing, which, in most cases accompanied by deep retracement before continuation. This could become a right arm of the pattern. If we will be correct on this subject, then H&S AB-CD targets stands presicely at 1474 K-area (OP) and 1488 K-area (XOP) creating Agreements with them.
Thus, if you're just planning to go long - wait for pullback somewhere to ~1455 area. If you already have long position - move stops to b/e and, for instance, you could book 50% of profit, keeping 2nd part of position intact.
Roger provides great Silver report&update, and we have to say that gold situation stands similar. As entry setup as following price action, even targets mostly are the same:
On 4H chart our nearest target is K-resistance around 1474 area, similar to Silver resistance, price stands relatively close to it. But as we have weekly K-support and weekly Oversold condition - we do not exclude continuation to next 1488 K-area later, which includes major 3/8 resistance level:
On 1H chart market has hit W&R bar XOP target (not shown here). And, as we said earlier, next price extension could take the shape of reverse H&S pattern. Now price has formed bullish reversal swing, which, in most cases accompanied by deep retracement before continuation. This could become a right arm of the pattern. If we will be correct on this subject, then H&S AB-CD targets stands presicely at 1474 K-area (OP) and 1488 K-area (XOP) creating Agreements with them.
Thus, if you're just planning to go long - wait for pullback somewhere to ~1455 area. If you already have long position - move stops to b/e and, for instance, you could book 50% of profit, keeping 2nd part of position intact.
cercamon
Private, 1st Class
- Messages
- 42
Thanks for the clarification!
Aside from the private seminars, where could we get some more details about these trade plans?
I'd be pleased to get a better understanding about the approach you were exposing in the silver post. Because right now, I fail to fully connect the dots of the setups you were talking about. Thanks again!
RogerTC
Special Consultant to the FPA
- Messages
- 352
Good Morning, I have shared the information of the tools that i use in my analysis in ' Fibtree Indicator Thread '. For seminars please DM me. Regards.
Sive Morten
Special Consultant to the FPA
- Messages
- 18,669
Greetings everybody,
Today on Gold market we do not need daily chart as everything important stands intraday. Our trading setup shows good progress and minimal target has been hit - Gold touched K-resistance of 1474 area. Now we turn to 2nd stage and will consider whether market could climb higher to next area of 1485 level. Theoretically, chances are not bad as gold is jumping out from weekly K-support and weekly oversold. The scale of weekly chart suggests that reaction might be a bit stronger.
On 4H chart market is forming reaction down and now it seems, it takes shape of daily bearish engulfing pattern. As gold has formed bullish reversal swing – we suggest deep two leg retracement in a shape of AB=CD pattern. Besides, here we have B&B “Buy” setup. It is small but it is correct:
This lets us suggest this shape of action on 1H chart. As gold stands at 3/8 Fib support (and potentially B&B starting point) – minor bounce up should create our “BC” leg. Then retracement should continue deeper, to next Fib support area. 5/8 Fib level is the one where you could consider long entry, if you have missed the first one.
This, in turn, will give us larger AB-CD that creates an Agreement with next K-resistance area around 1485.
If gold will drop below the lows – setup will be vanished.
Today on Gold market we do not need daily chart as everything important stands intraday. Our trading setup shows good progress and minimal target has been hit - Gold touched K-resistance of 1474 area. Now we turn to 2nd stage and will consider whether market could climb higher to next area of 1485 level. Theoretically, chances are not bad as gold is jumping out from weekly K-support and weekly oversold. The scale of weekly chart suggests that reaction might be a bit stronger.
On 4H chart market is forming reaction down and now it seems, it takes shape of daily bearish engulfing pattern. As gold has formed bullish reversal swing – we suggest deep two leg retracement in a shape of AB=CD pattern. Besides, here we have B&B “Buy” setup. It is small but it is correct:
This lets us suggest this shape of action on 1H chart. As gold stands at 3/8 Fib support (and potentially B&B starting point) – minor bounce up should create our “BC” leg. Then retracement should continue deeper, to next Fib support area. 5/8 Fib level is the one where you could consider long entry, if you have missed the first one.
This, in turn, will give us larger AB-CD that creates an Agreement with next K-resistance area around 1485.
If gold will drop below the lows – setup will be vanished.
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