GOLD - S/R zones & GAP formation descriptions
Updated
Hello Community!
Check out my swing & intraday key zones for my trading and also check descriptions of very famous Price Action formation called Gap. Full descriptions inside this idea.
🎉Gap Formation:
Gap is an anomaly in price movement caused by the initiative of buyers or sellers. As part of a rapid movement, the buying or selling volume is not offset by the counterparty and a so-called single-Gap volume is created. We can tell this from the chart simply by the fact that there is a so-called volume hole between the three candles. There is no common point between the first and third candle. Gap is a very popular and effective formation, in which we expect to fill the missing volume and the so-called closing of the gap, which will occur in most cases, but we do not know when it will occur. We also use the Gap formation as an indication of a new movement. Where we try to enter in the direction of a newly started trend during pullback. The gap serves as a very significant S / R zone. In our Price Action Pack Gap formation, you can easily recognize the form by coloring the candle blue or purple.
🎉More descriptions about my trading.
I am not patterns trader. My strategy and edge is looking for strong volume zones where Big players were trading. And if a market will come to this zones, I want to trade there again with them. So every day I prepare key levels and key zones and I am waiting when a market will come there.
📲In the chart you can see Long / Short levels into which I enter directly through the limit and then I control them based on the volume . If the market does not respect the level and starts to form a volume in the negative zone, I try to end the position at the breakeven point or stoploss. I set the Profit Target according to RRR or according to key levels and S / R zones. These levels can also be traded from the other side, support becomes resistance and vice versa.
❗️First of all, when I have the level ready, I have to set a Stoploss.
Stoploss is determined by several criteria. First of all, it must not be too far away and also it must not be in an area that serves as a magnet such as POC , Key Levels or a stoploss zone, where the market will run out of liquidity.
Summary:
Stoploss determined by.
✅1. Pivot High / Low
✅2. Logical zone according to VolumeProfile
✅3. Low Volume Node and High Volume Node
✅4. Outside of key levels
🎉 Management Rules:
✅When I see in negative zone 5 minutes whole candles ( for short level "over" the level for long level "below) I move my Take Profit to BreakEven point and I want to exit position on Entry point or my Stoploss.
✅ When 80% of profit is reached I am moving my Stoploss to BE point.
Hope it helps,
Have a nice day!
Check out my swing & intraday key zones for my trading and also check descriptions of very famous Price Action formation called Gap. Full descriptions inside this idea.
🎉Gap Formation:
Gap is an anomaly in price movement caused by the initiative of buyers or sellers. As part of a rapid movement, the buying or selling volume is not offset by the counterparty and a so-called single-Gap volume is created. We can tell this from the chart simply by the fact that there is a so-called volume hole between the three candles. There is no common point between the first and third candle. Gap is a very popular and effective formation, in which we expect to fill the missing volume and the so-called closing of the gap, which will occur in most cases, but we do not know when it will occur. We also use the Gap formation as an indication of a new movement. Where we try to enter in the direction of a newly started trend during pullback. The gap serves as a very significant S / R zone. In our Price Action Pack Gap formation, you can easily recognize the form by coloring the candle blue or purple.
🎉More descriptions about my trading.
I am not patterns trader. My strategy and edge is looking for strong volume zones where Big players were trading. And if a market will come to this zones, I want to trade there again with them. So every day I prepare key levels and key zones and I am waiting when a market will come there.
📲In the chart you can see Long / Short levels into which I enter directly through the limit and then I control them based on the volume . If the market does not respect the level and starts to form a volume in the negative zone, I try to end the position at the breakeven point or stoploss. I set the Profit Target according to RRR or according to key levels and S / R zones. These levels can also be traded from the other side, support becomes resistance and vice versa.
❗️First of all, when I have the level ready, I have to set a Stoploss.
Stoploss is determined by several criteria. First of all, it must not be too far away and also it must not be in an area that serves as a magnet such as POC , Key Levels or a stoploss zone, where the market will run out of liquidity.
Summary:
Stoploss determined by.
✅1. Pivot High / Low
✅2. Logical zone according to VolumeProfile
✅3. Low Volume Node and High Volume Node
✅4. Outside of key levels
🎉 Management Rules:
✅When I see in negative zone 5 minutes whole candles ( for short level "over" the level for long level "below) I move my Take Profit to BreakEven point and I want to exit position on Entry point or my Stoploss.
✅ When 80% of profit is reached I am moving my Stoploss to BE point.
Hope it helps,
Have a nice day!
Note
Daily, weekly, monthly Value Area key levels Note
Orderflow zones Note
Weekly VWAP 
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