Thanks for the advice even if it is very vague. Can you give me some more specifics on what your actual process is broken down into simple, repeatable steps?
"simple, repeatable steps" ....hmmmm. Nothing is really simple and repeatable. You ask disappointing questions after what I have just told you. Well, first of all...I don't trade gold. I trade the broad market, S&P. I consider the Holy Grail of market understanding is being able to trade it daily successfully. And I won't give you a blueprint recipe process explanation for it. But I will say, consider all the variables and elements that make it move daily...from there, draw up your future framework image. And use that general, loose, treasure map of expectations of when to strike and reasonably close.
You don't trade gold yet you came into my "Gold Chart Analysis" to comment on the charts being useless? Nothing is simple or repeatable? How's doing things at random going for you? You consider the Holy Grail being able to trade successfully? Isn't that like saying the best way to fly is to not touch the ground? That must mean the holy grail to life is to not die everyday. "...consider all the variables and elements that make it move daily...from there, draw up your future framework image. And use that general, loose, treasure map of expectations of when to strike and reasonably close." I'll use your same advice to tell you how to be a world champion martial artist: Consider all the variables and elements that come into play, see what your opponent is trying to do, figure out your plan of attack on the fly and use that general, loose, map of expectations of when to strike and when to defend. Congrats you are the new world champion. I feel like my questions are sound. Your answers just become more vague and useless the more specific the question.
Monday Daily 4hr 1hr What I'm seeing: Indecision: HTFs (4hr-Daily) shows the overall market is still looking bearish but the market has been moving up since midday Thursday LTFs (1hr and below) Show price in more of a large choppy range. It has been moving up but hits resistance around 3250-3260 2. Put together: LTF strength is hitting against HTF bearish momentum. There are multiple levels of potential resistance over a $40 range between 3250-3290. I don't want to be buying against HTF resistance. I'll wait to see what happens during the day and make a plan from there
Tues Weekly 12hr 4hr 30min What I'm seeing: Price is moving up steadily on 4hr (within the larger range on daily and weekly) but isn't providing me with any suitable entry points Lower timeframes such as 15min-1hr have choppy, chaotic price action which has large overshoots of both support and resistance
Monday Daily 12hr Lower time frames are messy and not worth trying to decipher/trade within while the HTF price action is indicating a lot of indecision.
Wednesday Daily Price has been in a large triangle consolidation since 22nd April on the Daily TF - The LTFs are quite noisy and chaotic. - I'll wait for a clear sign that the character of the price action has changed before looking to get involved again