THE Gold on Steroids vs Traditional Trading (Huge Difference) - Step by Step
- Chris Trader
- 2 hours ago
- 3 min read
STEP 1. Await divergence green for BUY, Red for SELL. In this initial step, it is crucial to monitor the market indicators closely. Divergence refers to the situation where the price action of an asset is moving in the opposite direction of an indicator, such as the Relative Strength Index (RSI) or Moving Average Convergence Divergence (MACD). When you observe a divergence signal that turns green, it indicates a potential buying opportunity, suggesting that the asset may be undervalued and poised for upward movement. Conversely, a red divergence signal suggests a selling opportunity, indicating that the asset may be overvalued and likely to decline. Therefore, patience is essential in this step as you wait for these signals to manifest clearly.
STEP 2. Await the BUY/SELL signal. After identifying the divergence signals, the next step involves waiting for a definitive BUY or SELL signal. This signal is typically generated by a combination of technical indicators and market analysis. It serves as confirmation of the initial divergence observation and indicates that the conditions are right for entering a trade. It is important to ensure that this signal aligns with your overall trading strategy and risk management plan, as entering a trade without proper confirmation can lead to unnecessary losses.
STEP 3. Wait for the Candle to turn the correct colour [Turquoise for BUY - Dark Pink for SELLS]. In this step, you will focus on the candlestick patterns that form on your trading chart. Candlesticks are a vital part of technical analysis as they provide information about price movements within a specific time frame. A turquoise candle signifies a bullish trend, indicating that it may be a good time to enter a BUY position. On the other hand, a dark pink candle signals a bearish trend, suggesting that it may be prudent to enter a SELL position. Observing the colour change of these candles is essential, as it reinforces the signals received in the previous steps and helps to confirm your trading decision.
STEP 4. Ensure the ALL BUYERS or ALL SELLERS are in with colour co-ordination [SEE VIDEO]. This step emphasizes the importance of market sentiment and the collective behaviour of traders. It is crucial to assess whether the majority of market participants are aligned with your trading decision. If the market is predominantly showing turquoise candles, it indicates that most traders are in a buying mood, which can strengthen the bullish trend. Conversely, if the market displays dark pink candles, it suggests a strong selling sentiment. The video referenced here serves as a visual aid to help you better understand how to identify and interpret these signals effectively, ensuring that your trading decisions are supported by broader market dynamics.
STEP 5. Sign up for the Gold On Steroids Software. Finally, to enhance your trading experience and improve your decision-making process, consider signing up for the Gold On Steroids Software. This software is designed to provide advanced trading tools and analytics that can help you identify trends, signals, and market conditions more efficiently. With features such as real-time data analysis, customizable alerts, and comprehensive charting capabilities, this software can significantly streamline your trading process, allowing you to focus on executing your strategies with confidence and precision. By leveraging technology, you can enhance your trading performance and potentially increase your profitability in the markets.
Gold On Steroids Software [PineScript] comes with full support and coaching for 12 months - along with Signals worth £600 for 12 months!
Chris
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