There is a good chance it comes back to test the breakout point. Do you feel that could be a good entry as well?

d

josh 

Gary, what makes you think that 1710-1715 will not provide resistance again? I'm looking at ES and 1180 is the rough equivalent there of what you're showing here. Is it due to a gap up that you're really looking long? Would you rather see 1715ish broken up, or do you feel very confident in a long at this time?

Just caught this after my last entry. I don't know Josh, that is a question we all ask.

My answer is embedded in the comments just posted. I am becoming a better trader. What I have to work with is what is layed out in front of me. I prefer reward versus risk. The more confirmation you have, the better the percentage wins you may experience. The earlier the entry, the higher ratio of risk to reward. For me, I like to keep my stops very close, and that means I have to trade while the market is open, which means I have to get in and out. But that is something I am training; to not get in and out, but to go for larger swings and enter with better rewards to risk.

I can trade this tomorrow for 50 ticks and be completely in my comfort zone. 1100 ticks is another story, but I am still writing...

Josh, I have a better response than previous;

That is not where my purple lines are. I drew them and I should not let them go to waste.

lol

I mark these charts for me. If they broke, it means something to me.

David_R 

There is a good chance it comes back to test the breakout point. Do you feel that could be a good entry as well? d

Absolutely, if it would be so kind. That is a part of what remains elusive to me regarding longer waves. In a perfect scenario;

1) Gold goes pre-open to break stop losses on light volume.

2) Morning volume shows stong overhead resistance, pushes the market back dow hard.

3) Volume comes in around a confluence zone, the higher the time frame the better, and catches my attention.

4) Price breaks out in an apparent reversal to the upside, based on my 6 and 9 range charts.

5) Price returns to a Donchian channel and looks like the move down is real.

6) Volume comes back in again and the market bursts to the upside again.

7) I enter long with a tight 30-50 tick stop at a prior pivot.

8) I can resist the temptation to take my profit at between 60-90 ticks and ride this to 1830.


IF, I could script it. We'll see tomorrow if I even get one number.

And because I am still sitting here, in the dark, studying charts, and am tired and my mind is shifting from analyitical to subconscious;

Trading is Believing. Not before you enter the trade, but while you are in it.

Send that one to Wikipedia.

Good night.

I have not traded gold for awhile. The higest rated T3MA crossover, on a range chart for GC, as of this evening, based on my criteria;

15 range / 70 fast / 175 slow

This means nothing. But I am watching it.

[img]https://nexusfi.com/v/x6rfkp.jpg[/img]

[IMG]https://nexusfi.com/v/337pj7.jpg[/IMG]

Local triple-bottom and Global double bottom (green arrow at far left) in place. Support confluence zone in place at 618f wave 3. DALTX of wave 2 hit. Two exhaustion fibs confirmed. Bullish wedge / symmetrical triangle broken to the upside.

1) Gold goes pre-open to break stop losses on light volume.


#1 was easy. So far the best entry I could have had was the one after I was stopped out on Friday.

[img]https://nexusfi.com/v/3cppsx.jpg[/img]

[IMG]https://nexusfi.com/v/wzaq6n.jpg[/IMG]


That may mark the start of step #2