I am trading on the 15′ chart with the Savius Slope Rider Strategy on.
Slope Rider has colored in a few candles in pink which means there is an important divergence going on, price is in the Sell Volume Value Area but still a bit far from top of Regression Channel and far from MA Hull, so I’m risking a tight 10 ticks with protection from Pivot P.
Price moved up and hit my Stop Loss, is ok, what it matters is to manage risk accordingly to plans, NEVER EVER move Stop Loss to make further damage!
GOLD seems to be building a proper bullish trend, in the 1h chart price has now broken the Regression Channel on the way up.
Slope Rider keeps signalling divergence, now the price has arrived to the top of the Regression Channel so it hits my Sell Limit order. This is also a strong price level from yesterday, where it had very high volume, 2716.
ehm Sierra for some weird reason had the clock set to the wrong time by 1 hour today! I amended this and Pivot P moved up to 2718! Now this makes a lot more sense! see difference in figures!
Sierra you owe me 10 ticks! 🙁
Anyway…it seems that I shorted a beautiful top! I’ve moved now my Stop Loss at +5 ticks, that’s the bare minimum, and I’ll try to ride this bearish move…where to?
Levels are: S1 2688 , or past POC at 2656.
Let’s not be greedy, and yet Slope Rider has now colored in a candle in the hourly chart as well, so I’ll take advantage of this today.