The Achilles heel of human psychology---fear and greed. Why is there fear, repeated failures, unprincipled stop losses, funds are inadvertently because the countless stop losses are getting less and less, so that they dare not start when they are right, hesitant, and keep doing it when they are wrong , Don't dare to do it! Don't dare to look at what is right, but keep watching when you are wrong. Why greed, greed is gambling, greed in the wrong direction can only lead you to the infinite abyss.
Now I would like to share my thoughts on shorting gold yesterday. Since the early fall did not touch the lower support, and the structure of the fall did not appear in a three-wave pattern, the main consideration yesterday was that the fall was much lower, but there was a rebound trend in the afternoon, which indicates that There will be a wave of falling back and the space is also in line with the profit-loss ratio, so the position that may be under pressure is given in advance in the morning. The rebound touches the 50%~61.8% area of the golden section, which is the node that may fall back. Around $9. When arriving at the 1841~1840 area in the evening, this is also the previous platform high point and the structure is completed at the same time, so try to do more risk control at $4, but the cloud of the chairman of the Federal Reserve's speech continues to suppress the short-term trend, and the long-term thinking here fails. The speech at 11 o'clock in the evening began with the hawkish interest rate hike speech. As soon as the market bulls gave up, the decline was logical. Therefore, judging from yesterday's operation, news factors can sometimes affect the development of local markets, so risk control must be given top priority at all times. One short, one long, one profit, and one loss are still profitable overall, mainly because Control the size and target of each stop loss. The current downtrend has become a second downtrend in advance, and the previous low will be tested or even broken in the past two days.
Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩💻
