[Belgrade Bobby]

XAUUSD – Gold

Abubakar, I draw some trend lines to support your view..

Here are the 4h and 30 min charts

 

 

[Abubakar Kaduna state Nigeria]

Xauusd buy @2391-2388

Sl: 2386

Tp: 2396

[Belgrade Bobby]

David, Parallel lines :

Place them one by one on previous tops ( June 10th, June 20th , July 8th & this last one – The Top)

I am talking about Gold chart…

So once you do it, see if any of it makes sense.

And finally, get to some trading conclusion based on it :

–          If this, then that

–          Sell here, stop at…

–          Wait and buy at…stop at…

This is a lesson – not real trading instructions – so feel relaxed in your conclusions and let’s see what can you come up with.

We’ll have it saved here, so we can continue to follow it and see what really worked and what not.

 

[David Shepherd]

Draw a parallel line at which area please?

[Belgrade Bobby]

David, you got it right – that is the first step.

Now you have to draw parallel lines to those you already did , and make possible channels.

That way you will start to have a clearer picture of possible moves.

So you know you should Buy it, but where you gonna take your profit.

How deep can they pull back and still stay in Buy Mode …

And now, specifically for you – as I can see that you are using the moving average:

–          What MA you use?

–          How do you use it ?

–          Have you ever tried  to combine it with another MA ? ( we’ll talk about this later)

Ok guys, for you to know – I am not around at all times, but I will answer every time on any question you might have – just be a bit patient 😀

[GVI Forex 2]

Robinson

Go to this link and you will see a short video on how to post a chart

It must be posted in visual mode

How to Post an Image

[David Shepherd]

[David Shepherd]

Second charts

[David Shepherd]

This the home work you gave us

[Robinson Izuchukwu]

Hello, I have a little complaint, I don’t know if it’s my fault tho, I’m finding it difficult to post chart here, I’ve been trying it again and again since last night,

[David Shepherd]

Alright, thanks
I can’t wait to see the step by step guide 😀

[Belgrade Bobby]

It is all OK David – No need to apologize – ask any question , bring it up when you don’t understand, and I will explain , I’ll repeat as many times as needed for everyone to get it !

I’ll prepare some material, step by step and you’ll be able to follow it for sure.

Only thing that I won’t allow any of you is to spam MY Trading Academy 😀

All questions, postings , talking…anything goes here in Q&A !

[Belgrade Bobby]

Now guys something a bit different :

You should check out Amazing Trader Classes as well. You should follow both classes , without excluding one in favour of the other !

Jay is even more experienced in Forex then I am ( not only because he’s older 😀

He is the master of what I would call “Common Sense Trading “  , and even if you put aside his masterpiece The Amazing Trader, his tips and knowledge will give you the real edge in trading.

We have very different approaches , and you need to open your horizons , but most of the time we do come to the same conclusions…

[Belgrade Bobby]

Yes Robinson it was 😀 Now go back to my chart below – the resistance trend line that was cloned ( so hypothetical trend line that I placed on previous Uptick without any other reason except that it follows the angle that repeats itself ) had obviously tons of stop losses just above it .

Broke it and opened a new bar just above it –Buy ( 1.15038 – Stop at 1.14980 -5-6 pips – we’ll talk about Risk Management later in the game)

Now look at my chart with drawn Channels ( yes I am going to be obnoxious with these channels till you all accept it and start drawing them ) – there is a clear picture in front of us.

Obviously it will try to reach for the top of that channel – possible consolidation prior to it )

And to conclude the lesson : these  trend lines of mine are working every single time – practice drawing them !

To be able to survive in this game you cannot rely on your gut feeling or opinion, but on full strategy and what you see in charts.

[Robinson Izuchukwu]

<p style=”text-align: right;”>The GBPCHF I posted during the day was an amazing movement</p>

[Robinson Izuchukwu]

[Belgrade Bobby]

Robinson :

Add the Parallel lines based on your Support line , as I did it.

Draw that resistance line you see on my chart and place it at today’s Top – if it holds, we’ll have a pretty clear picture – if not, repeat the process on the next Top Stop ( when it happens )

Now look how that Resistance line fits in past performance – so that Angle is a Correct one !

Same goes for the Support

[David Shepherd]

Okay

[Belgrade Bobby]

David, this is exactly what I have on my 4h chart as well.

Now listen carefully : make a parallel line of that Support – twice.

First one place just below these last 5-6 candles ( bars ) 09.07 – 10.07.2024

Second one place at the top of High on 24.06.

See how it looks like now….

[Robinson Izuchukwu]

This is GBPCHF and it’s a bullish direction

Support at 1.14568

Resistance 1.16585

[David Shepherd]

[David Shepherd]

Hi, this is how I have been drawing my trend lines

[David Shepherd]

[Belgrade Bobby]

It is pretty simple and very reliable trick – If the shoe fits, you found a girl 🙂

[Belgrade Bobby]

Yes exactly – I can take a trendline drawn in past  in my charting station and move it where I want – to present .

It keeps the same angle . If you don’t have that capability, just make a parallel one and move it with the mouse to where you want it.

This is not just a theory, but proven concept over decades.

Remember when EUR was born – we have used “synthetic “ charts based on USDDEM – well, angles didn’t change …same channels are working today as well.

[GVI Forex 2]

Hi Bobby

In your trendline post, are you saying that you copy the broken trendline with the same angle and paste it into a new chart. The key is to use the same angle?

I draw trendlines differently but am always open to new ideas.

[David Shepherd]

Thanks boss

[Belgrade Bobby]

Good David – you are watching for highs and lows , and I guess this is “Supply/Demand” style.

And it is all fine as long as it works for you, really.

But when you go with a position taking based on unknown factors ( you can’t really know where are the orders placed – that is what you actually see as Demand/Supply zones – that is only in hands of Higher powers like Central Banks and several Monster banks ) , sooner or later you gonna get hit, and hit hard.

Here we will go over different techniques and styles, and ultimately build trading systems that will make your job easier.

There are many tricks and tips that we are going to reveal, and test in real time conditions.

[David Shepherd]

[David Shepherd]

I don’t know if I got this correctly

[Author]

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