Slope Rider signal for over +40 ticks in Gold!
Today is FOMC interest rate decision day, which is well known to be a very difficult day to trade, while waiting for such release there aren’t very high volumes or volatility, and I find that the Slope Rider is particularly precise in these situations where there is less manipulation by the big institutions.
At open of US session Gold break below pivot P and the Slope Rider signals a short trade, after retracing from well above the Regression Channel and the Volume Sell Area, so it’s a valid signal, and straight away the price moves down all the way to pivot S1 and bounces: this would have been an easy 40 ticks in profit!
Yes the stop loss would have been quite far away, but what I like of the Slope Rider is that if filtered and set-up correctly most of the times once it gives the signal the move is ripe and price just moves with strength, no retracements, no sweat watching your order going in loss.
Amazingly price kept moving even lower, almost all the way to pivot S2, and actually all the way to hit naked POC of 1299, a price that I pointed out in my analysis. It’s possible that this is due to institutions pushing the price down to a better place for them to buy it before FOMC statement, when in fact price skyrocketed up to 1320 (the other naked POC I pointed out for many days in my analysis).
I “only” made 15 ticks in profit with this trade, but that’s ok, I’m still learning to let the profitable trades run.
Savius is a Funder who provides his traders with a complete strategy, easy to follow, and profitable!
This strategy is complete, yet discretionary: yes you still have to switch on your brain! Don’t just get every signal that pops up!
Soon I’ll publish a complete guide to the Slope Rider.