XAUUSD: Bearish Cypher & Bullish Gartley

2014년 7월 20일

Gold has been stuck in this wedge for a while now and during so has put in various advanced patterns (in orange). There are 2 more on the radar int he form of a bullish Gartley & a bearish cypher.

Something that separates a trader from an investor is the fact that we don't care which way the market goes. Our job is only to take advantage of the opportunity when it occurs. IF the market goes down, THEN we know where our next buy is and IF the market rallies, THEN we know where our next sell it. Now all a trader must do is bracket their orders and stops and wait to see which path the market decides to take.

Structure traders may want to look for intraday opportunities on the lower timeframes as well.