There would be certain eyebrow raised when you read the title of this article. But there is lot of difference in expectation and trading possibilities and that is why lot of traders do tend to fail and most probably 90% of the traders fail and the reason being not on the right track but keep looking for assistance of indicators fibos trendlines but do you really thing there is any need of such tools to be used in trading or chart tells you different story altogether when you just look to see what is being presented to you.
Reason of me ignoring mechanicals systems like EMA’s RSI and Fibos
I started trading in 2009 when I was presented with certain methods of predicting the price and different failure mechanical system brought me to the reality and wonders of Trading and I started feel about the system being controlled by few bunch of individuals providing liquidity and facilitate trading but there has to be few ways where they trap retail traders and I started working the real manipulation of trading and found the real way of trading and meet few individuals who thought the same way like I do.
Gold Index futures technical analysis and long term view
I have several plans to trade gold in the long run and I would still think that gold has fair way to go to the upside before it crashes down once again But I trade possibilities but not expectations as it is mention in the article heading as well. I have prepared a special chart video at the end of this article which will show How to approach trading and use technical for your own benefit but if you don’t consider risk reward and money management techniques then You should take a closer look at this chart.
How I manage to apply money management rule in my recent trade setup of gold futures
When you see price spiking off the consumed demand or even climbing after engulfing the source the most probably it will fall of the new supply or even ignore demand and supply level historic levels or levels where price had history and that is what Gold has done and after engulfing the source of the upmove price has rejects off the capped supply and Now I would watch closely how price behave of 1302 and 1351 levels and inbetween there are no trading levels.