very well done emene.
here is an example of what I just wrote on the blog. Quiet times, play ranges and use the bands. OK, here, no harmonic, but au came in the upper band, in confluence with very very clear supply area (watch your M15 chart on the left).
For the entry, sometime I do not need confirmation. The Stop would be so tight that it does not matter.
This is 21 very easy pips. Why not take them for dinner ?
![]()
First trade of the day. Crude in upper band, US dollar index (USDX) at demand, crude hitting supply, good for a quick short ! As for the exit, harmonics can be great too. I pay a lot of attention to 5-0 patterns, so as soon as it printed, i bailed for 30 pips. Good enough for breakfast.
EDIT : the entry, i will explain another day. Technical stuff.
good job emene on WTI. its one of the pairs i love to trade as well.
OK, very interesting thing. The best of all indicators is the Dollar Index. Never forget it.
Now, look this H1 usdx chart.
Lower band, demand area, and BOOOOOM, perfect ABCD in the zone. What happens ? Everything turns in the market. Looks at gold, dax, eu. You must be quick, but you guys have an advantage on the other traders. You could see the ABCD in demand + lower band
And this is why i entered my last gold trade I just posted.
![]()
Not sure if this has been answered on the other post, Archie. I don't have any exact stats for you but the 5.0 at the 50% is a high probability bounce so you definitely want to be taking profits there and looking for the reversal. The move back to the 50% Is normally easily a 3 to 1 RR trade.