
The objective of this SOP is to analyze the weekly, daily, and 90-minute charts of Gold and GU (GBP/USD) to identify potential trading opportunities. The focus will be on identifying key levels, volume areas, and potential price movements.
Start by analyzing the weekly perspective of Gold
Identify the volume areas and key levels.
Note any spikes or movements in the previous week.
Determine the overall trend and potential price movements.
Analyze the daily chart of Gold
Identify the high and low points of the previous week.
Look for any spikes or movements within the volume areas.
Determine the potential direction of the market based on the weekly perspective.
Set target levels for potential price movements.
Analyze the 90-minute chart of Gold
Remove any previous drawings and start fresh.
Identify key levels and volume areas.
Take note of the London session and potential market movements during that time.
Set target levels and stop-loss levels for potential trades.
Repeat the above steps for GU (GBP/USD)
Analyze the weekly perspective, noting volume areas and key levels.
Analyze the daily chart, identifying high and low points and potential price movements.
Analyze the 90-minute chart, noting key levels and potential trade setups.
Be patient and wait for confirmation before entering any trades.
Monitor the market closely for any changes or new developments.
Keep in mind the potential risks and always use appropriate risk management strategies.
Use a template or pre-drawn levels to save time when analyzing the charts.
Focus on the key levels and volume areas for quicker analysis.
Use vertical lines to mark important times, such as the London session.
Keep the analysis simple and avoid overcomplicating the process.
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