H4 Gold Daily: My Trading Zone for This Week
Updated
I always trade on the "high liquidity zone" which is basically supply and demand zone.
from H4, this clearly marked as as high liquidity zone.
I will find an opportunity for SELL or BUY on those zone.
the entry itself will be defined as usual using the following rules:
1. Liqudity Grab on Higher Timeframe (H4). as long as there's liquidity grab on H4 on the zone (can be identify as a wick of the candle. the longer the wick, the better the opportunity)
2. Then use smaller timeframe (M15) to get a valid Change of Character (Choch). e.g: for SELL zone, i will wait the price to break the latest highest low. for BUY zone, i will wait the price to break the latest lowest high.
learn more about CHOCH here phantomtradingfx.com/trading/what-is-a-choch-in-forex/
3. Once choch is confirmed, then wait at the nearest order block / FVG area for the entry. the RR ratio is usually at least 1:5 for gold.
from H4, this clearly marked as as high liquidity zone.
I will find an opportunity for SELL or BUY on those zone.
the entry itself will be defined as usual using the following rules:
1. Liqudity Grab on Higher Timeframe (H4). as long as there's liquidity grab on H4 on the zone (can be identify as a wick of the candle. the longer the wick, the better the opportunity)
2. Then use smaller timeframe (M15) to get a valid Change of Character (Choch). e.g: for SELL zone, i will wait the price to break the latest highest low. for BUY zone, i will wait the price to break the latest lowest high.
learn more about CHOCH here phantomtradingfx.com/trading/what-is-a-choch-in-forex/
3. Once choch is confirmed, then wait at the nearest order block / FVG area for the entry. the RR ratio is usually at least 1:5 for gold.
Trade active
price reacting to the buying zone.. i will expect price to reach out to the selling zone or near to it, then dropping..Note
if you take BUY in the BUYING ZONE, you are in green now :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.