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You do know that trading one lot in gold means that attaining 2000 pips a week equals $20 a week right? In gold 1 pip is equal to 0.01. I think maybe you mean points.

Btw, and I could be wildly wrong. But there are 3 peak formations on the daily high in the 1M chart and two wedge bearish signals. Think it could be a big drop. But gold often humbles you so don't take my word for it.

And there is a bearish 4h OB at play as well since this is what the subject is about.

(08-25-2022 08:03 PM)grert Wrote: [ -> ]You do know that trading one lot in gold means that attaining 2000 pips a week equals $20 a week right? In gold 1 pip is equal to 0.01. I think maybe you mean points.

Btw, and I could be wildly wrong. But there are 3 peak formations on the daily high in the 1M chart and two wedge bearish signals. Think it could be a big drop. But gold often humbles you so don't take my word for it.

And there is a bearish 4h OB at play as well since this is what the subject is about.

Let me put some things straight here regarding your comment

If you trade 1 standard lot and make 2000 pips in a week, that means your profit is 2000 x $10 = $20,000

If you trade one mini lot (which is 0.1 of 1 standard lot), with the same condition of 2000 pips gain in a week, your profit will be 2000 x $1 = $2000

If you trade 1 micro lot (0.01 of 1 standard lot), with 2000 pip gain in a week, you will make 2000 x $0.1 = $200


So all things depend on your account size and your risk management strategy (very important).


Secondly, pls note that what you are seeing in one timeframe could be widely different from another timeframe depending on which timeframe.

(08-25-2022 11:33 PM)lightshines Wrote: [ -> ]

(08-25-2022 08:03 PM)grert Wrote: [ -> ]You do know that trading one lot in gold means that attaining 2000 pips a week equals $20 a week right? In gold 1 pip is equal to 0.01. I think maybe you mean points.

Btw, and I could be wildly wrong. But there are 3 peak formations on the daily high in the 1M chart and two wedge bearish signals. Think it could be a big drop. But gold often humbles you so don't take my word for it.

And there is a bearish 4h OB at play as well since this is what the subject is about.

Let me put some things straight here regarding your comment

If you trade 1 standard lot and make 2000 pips in a week, that means your profit is 2000 x $10 = $20,000

If you trade one mini lot (which is 0.1 of 1 standard lot), with the same condition of 2000 pips gain in a week, your profit will be 2000 x $1 = $2000

If you trade 1 micro lot (0.01 of 1 standard lot), with 2000 pip gain in a week, you will make 2000 x $0.1 = $200


So all things depend on your account size and your risk management strategy (very important).


Secondly, pls note that what you are seeing in one timeframe could be widely different from another timeframe depending on which timeframe.

Actually sorry about that. You are correct in what you said. The lot size of my calc caused the confusion.