VasilyTrader

Here is my latest support and resistance analysis for Gold.Horizontal StructuresSupport 1: 3294 - 3312 areaSupport 2: 3231 - 3287 areaSupport 3: 3121 - 3176 areaResistance 1: 3338 - 3368 areaResistance 2: 3441 - 3451 areaResistance 3: 3493 - 3500 areaVertical StructuresVertical Support 1: Falling trend lineConsider these structures for pullback/breakout trading.❤️Please, support my work with like, thank you!❤️I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

Gold is retesting a recently broken trend line of a bullish flagpattern that I shared with you earlier.A double bottom pattern on that and a violation of its necklineprovide a strong intraday confirmation.I think that the price may rise to 3392 level.❤️Please, support my work with like, thank you!❤️

Here is my latest structure analysis and important supports & resistances for GOLD XAUUSD for next week.Consider these structures for pullback/breakout trading.❤️Please, support my work with like, thank you!❤️I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

In the today's post, we will discuss very common beginner's mistakes in trading that you should avoid.1. No trading plan 📝That is certainly the TOP 1 mistake. I don't know why it happens but 99% of newbies assume that they don't need a trading plan.It is more than enough for them to watch a couple of educational videos, read some books about trading and Voilà when a good setup appears they can easily recognize and trade it without a plan.Guys, I guarantee you that you will blow your trading account in maximum 2 months if you keep thinking like that. Trading plan is the essential part of every trading approach, so build one and follow that strictly.2. Overtrading 💱That mistake comes from a common newbies' misconception: they think that in order to make money in trading, they should trade a lot. The more they trade, the higher are the potential gains.The same reasoning appears when they choose a signal service: the more trades a signal provider shares, the better his signals are supposed to be.However, the truth is that good trades are very rare and your goal as a trader is to recognize and trade only the best setups. While the majority of the trading opportunities are risky and not profitable.3. Emotional trading 😤There are 2 ways to make a trading decision: to make it objectively following the rules of your trading plan or to follow the emotions.The second option is the main pick of the newbies.The intuition, fear, desire are their main drivers. And such an approach is of course doomed to a failure.And we will discuss the emotional trading in details in the next 2 sections.4. Having no patience ⏳Patience always pays. That is the trader's anthem.However, in practice, it is extremely hard to keep holding the trade that refuses to reach the target, that comes closer and closer to a stop loss level, that stuck around the entry level.Once we are in a trade, we want the price to go directly to our goal without any delay. And the more we wait, the harder it is to keep waiting. The impatience makes traders close their trades preliminary, missing good profits. 5. Greed 🤑Greed is your main and worst enemy in this game.It will pursue you no matter how experienced you are.The desire to get maximum from every move, to not miss any pip of profit, will be your permanent obstacle.Greed will also pursue you after you close the profitable trades. No matter how much you win, how many good winning trades you catch in a row, you always want more. And that sense main lead you to making irrational, bad trading decision.6. Big Risks 🛑Why to calculate lot size for the trade? Why even bother about risk management?These are the typical thoughts of the newbies.Newbie traders completely underestimate the risks involved in trading and for that reason they are risking big.I heard so many times these stories, when a trading deposit of a trader is wiped out with a one single bad trade.Never ever risk big, especially if you just started.Start with a very conservative approach and risk a tiny little portion of your trading account per trade.Of course there are a lot more mistakes to discuss.However, the ones that I listed above at the most commonand I am kindly recommending you to fix them before you start trading with a substantial amount of money.❤️Please, support my work with like, thank you!❤️I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

Following the latest news, I think you would agree with me thatGold will most likely rise more.Your technical confirmation can be a bullish breakout of the underlinedblue resistance and a daily candle close above 3435.It will be an important trigger that will push the prices way up to a current ATH.❤️Please, support my work with like, thank you!❤️I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

Bitcoin nicely respected a key horizontal support.A breakout of a resistance line of a falling wedge patternprovides a strong bullish confirmation.I think that the price will go up and reach at least 108.320 level.❤️Please, support my work with like, thank you!❤️

Do you know that TradingView has a built-in Forex position size calculator?It is completely free, it is simple to use, and it does not require a paid subscription to use it.In this article, I will teach you how to calculate a lot size for your trades on TradingView easily in 3 simple steps.Step 1 - Setting Up the CalculatorFirst, open a price chart on TradingView and find a "Trading Panel" button in the bottom of the window.Click "Maximize Panel" afterward.In the list of brokers, select "TradingView Paper Trading" and click "Connect".Paper Trading is built in demo trading account on TradingView.It does not require KYC or any other verification.Choose "Account" list box and tap "Create Account".Then fill all the inputs with exactly the same parameters as your real trading account has.Type in your exact account size, leverage and commission rate.Then click "Create".TradingView position size calculator is ready to use.Step 2 - Find the Trading OpportunityFind a trading setup to trade. Make sure that you know the exact entry level and stop loss.Imagine that you want to buy EURUSD from 1.0899 price level with 1.08846 stop loss level.Step 3 - Measure a Proper Lot SizeRight-click on a price chart and choose "Trade" and in the appeared menu select "Create New Order".Fill the following fields:"Price" - your entry level,"% risk" - your desired risk per trade in %,"Stop Loss price" - your stop loss price level.Your lot size will be based on the calculated units.In forex trading 1 standard lot equals 100000 units.The only thing that you should do is to take the exact units number and divide it by 100000.In our case we have 704225 units.704225 / 100000 = 7,04 lot.That will be your lot size for buying EURUSD with 1% risk for 100000 trading account.If you apply TradingView for market analysis and charting and your trading terminal does not have a lot size calculator, this method will be the quickest and the easiest to apply for measuring the position size.❤️Please, support my work with like, thank you!❤️I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

Here is my latest structure analysis for Gold.Vertical StructuresVertical Support 1: Falling trend lineVertical Support 2: Falling trend lineHorizontal StructuresHorizontal Support 1: 3231 - 3286 areaHorizontal Support 2: 3121 - 3177 areaHorizontal Resistance 1: 3372 - 3404 areaHorizontal Resistance 2: 3427 - 3423 areaHorizontal Resistance 3: 3492 - 3500 areaConsider these structures for pullback/breakout trading.❤️Please, support my work with like, thank you!❤️I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

In the today's article, we will discuss a trailing stop loss. I will explain to you its concept in simple words and share real market examples.🛑Trailing stop loss is a risk management tool that allows to protect unrealized profits of an active trading position as long as the price moves in the desired direction.Traditionally, traders trade with fixed stop loss and take profit. Following such an approach, one knows exactly the level where the trade will be closed in a profit and the level where it will be closed in a loss.Take a look at a long trade on USDCAD above. The trade has fixed TP Level - 1.354 and fixed SL Level - 1.341.Once one of these levels is reached, the trade will be closed.Even though the majority of the traders stick to fixed sl and tp, there is one important disadvantage of such an approach – substantial gains could be easily missed.After the market reached TP in USDCAD trade, the price temporarily dropped, then a strong bullish rally initiated and the price went way above the Take Profit level. Potential gains with that long position could be much bigger.Trailing stop solves that issue.With a trailing stop loss, the trader usually opens the trade with Stop Loss and WITHOUT Take Profit.Take a look at a long trade on USDCHF.Trader expects growth, he opens a long position and sets stop loss – 0.8924, while take profit level is not determined.With a trailing stop loss, the trader usually opens the trade with Stop Loss and WITHOUT Take Profit.As the market starts growing, one decides not to close the trade in profit, but modify stop loss – trail it to the level above the entry.As the market keeps rallying, one TRAILS a stop loss in the direction of the market, protecting the unrealized gains.When the market finally starts falling, the price hits stop loss and a trader closes the trade in a substantial profit.The main obstacle with the application of a trailing stop is to keep it at a distance from current price levels that is not too narrow nor too wide.With a wide stop loss distance, substantial unrealized gains might be washed out with the market reversal.Imagine you predicted a nice bullish rally on Bitcoin.The market bounced nicely after you opened a long position.Trailing stop loss too far from current price levels, all the gains could be easily wiped out.While with a narrow trailing stop distance, one can be stop hunted before the move in the desired direction continues.A trader opens a long trade on EURJPY and the price bounces perfectly as predicted.One immediately trails the stop loss.However, the distance between current prices was too narrow and the position was closed after a pullback.And then market went much higher.In conclusion, I want to note that fixed SL & TP approach is not bad, it is different and for some trading strategies it will be more appropriate. However, because of its limitations, occasionally big moves will be missed.Try trailing stop by your own, combine it with your strategy and I hope that you will make a lot of money with that!❤️Please, support my work with like, thank you!❤️I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.Check my new educational article:

Following my previous analysis, Gold in going up.Your next signal to buy will be a bullish breakoutof a neckline of an ascending triangle pattern on a 4H time frame.A 4H candle close above 3392 will confirm a violation.Next resistances will be 3408 / 3428 ❤️Please, support my work with like, thank you!❤️I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.