XAUUSD DAILY STRUCTURE EXPLAINED
XAUUSD on its Daily chart is forming
a Cup and Handle pattern.
The price is currently in the handle fase and trading a bearish wolfe wave with Estimate price of arrival at approximately 1443.647 at the low of the handle 382% retracement from Cup low.
The price has given short signals on Tuesday 13 december due to a Berish AB=CD formation in H4 and is currently retracing to the 382% forming a bearish ABC in H4 chart.
Short trades opportunities to 1443.647 may be available from the Week 19th DEc.
Once 1743.64 is accomplished, long trades opportunities may be in place to target 1808.194 and looking for the breakout at this point to target further
TP1 1879.013
100% AD
272% C&H
TP2 1950.965
1272% AD
618% C&H
TP3 2041.992
1618% AD
100% SYMMETRY DEPTH C&H
With all that said Merry Christmas peace, love and trade safe.
Le the money be with you lol
TRADE CHARTS PATTERNS LIKE THE PROS 5 GOLDEN RULES
1: The Trade Setup The setup is the basic conditions that need to be present in order to even consider a trade. For example, if you're a charts patterns trader, then a pattern needs to be present. Your trading plan should define what a tradable chart pattern is (for your strategy). This will help you avoid trading when a chart pattern isn't there. Think of the "setup" as your reason for trading.
2: The Trade Trigger If your reason for trading is present, you still need a precise event that tells you now is the time to trade There are various methos using a trigger.
A Price accion B Moving averages C Fibonacci
3: The Stop Loss Having the right conditions for entry and knowing your trade trigger isn't enough to produce a good trade. The risk on that trade must also be managed with a stop-loss order. There are multiple ways to place a stop loss. For long trades, a stop loss is often placed just slightly below a recent swing low and for a short trade just slightly above a recent swing high. Step
4: The Price Target You now know that conditions are favourable for a trade, as well as where the entry point and stop loss will go. Next, consider the profit potential.
A profit target is based on something measurable and not just randomly chosen. Chart patterns, for example, provide targets based on the size of the pattern. Trend channels show where the price has had a tendency to reverse; if buying near the bottom of the channel, set a price target near the top of the channel.
5: The Reward-to-Risk Strive to take trades only where the profit potential is greater than 1.5 times the risk. For example, losing $100 if the price reaches your stop loss means you should be making $150 or more if the target price is reached.
Other Considerations The five-step test acts as a filter so that you're only taking trades that align with your strategy, ensuring that these trades provide good profit potential relative to the risk. Add in other steps to suit your trading style. For example, day traders may wish to avoid taking positions right before major economic numbers or a company's earnings are released. In this case, to take a trade, check the economic calendar and make sure no such events are scheduled for while you're likely to be in the trade.
The Bottom Line Make sure conditions are suitable for trading a particular strategy. Set a trigger that tells you now is the time to act. Set a stop loss and target, and then determine if the reward outweighs the risk. If it does, take the trade; if it doesn't, look for a better opportunity. Consider other factors that may affect your trading, and implement additional steps if require. This may seem like a tedious process, yet once you know your strategy and get used to the steps, it should take only a few seconds to run through the entire list.
TRADE CHARTS PATTERNS LIKE THE PROS TRADING PLAN
Setup + trigger = trade NO trigger – no trade
1 st Identify the pattern
H1-H4 M30 ABC-AB=CD-GARTLEY-121 PATTERN’s
2 ND Fibonacci clusters zones
(3 or more Fibonacci price relationships within a formation) If price tests and RESPECTS the setup zone,
3 RD Price action reversals patterns
M30/M15/M5 OR LOWER TIME FRAME PRICE ACTION REVERSAL PATTERNS TRAP OR/AND HEAD AND SHOULDERS ETC
4RD Trade Entry:
for A TRIGGER GO TO M5 TIME FRAME CHART Buy trigger 8 ema crosses above the 34 ema AND a prior swing high is taken out Sell Trigger 8 ema crosses below the 34 ema AND a prior swing low is taken out
5 th stops
for BUY setup:
Place a stop just below the low end of the price ACTION cluster setup
for SELL setup:
Place a stop above the high of the price action cluster setup
6 th TARGETS
Option 1 take profit at the 61.8% 78.6%
Option 2 Exit partials 61.8% 78.6% AND PROFIT 1.272, 1.618 and 2.618 IF THE TREND IS STRONG
a Cup and Handle pattern.
The price is currently in the handle fase and trading a bearish wolfe wave with Estimate price of arrival at approximately 1443.647 at the low of the handle 382% retracement from Cup low.
The price has given short signals on Tuesday 13 december due to a Berish AB=CD formation in H4 and is currently retracing to the 382% forming a bearish ABC in H4 chart.
Short trades opportunities to 1443.647 may be available from the Week 19th DEc.
Once 1743.64 is accomplished, long trades opportunities may be in place to target 1808.194 and looking for the breakout at this point to target further
TP1 1879.013
100% AD
272% C&H
TP2 1950.965
1272% AD
618% C&H
TP3 2041.992
1618% AD
100% SYMMETRY DEPTH C&H
With all that said Merry Christmas peace, love and trade safe.
Le the money be with you lol
TRADE CHARTS PATTERNS LIKE THE PROS 5 GOLDEN RULES
1: The Trade Setup The setup is the basic conditions that need to be present in order to even consider a trade. For example, if you're a charts patterns trader, then a pattern needs to be present. Your trading plan should define what a tradable chart pattern is (for your strategy). This will help you avoid trading when a chart pattern isn't there. Think of the "setup" as your reason for trading.
2: The Trade Trigger If your reason for trading is present, you still need a precise event that tells you now is the time to trade There are various methos using a trigger.
A Price accion B Moving averages C Fibonacci
3: The Stop Loss Having the right conditions for entry and knowing your trade trigger isn't enough to produce a good trade. The risk on that trade must also be managed with a stop-loss order. There are multiple ways to place a stop loss. For long trades, a stop loss is often placed just slightly below a recent swing low and for a short trade just slightly above a recent swing high. Step
4: The Price Target You now know that conditions are favourable for a trade, as well as where the entry point and stop loss will go. Next, consider the profit potential.
A profit target is based on something measurable and not just randomly chosen. Chart patterns, for example, provide targets based on the size of the pattern. Trend channels show where the price has had a tendency to reverse; if buying near the bottom of the channel, set a price target near the top of the channel.
5: The Reward-to-Risk Strive to take trades only where the profit potential is greater than 1.5 times the risk. For example, losing $100 if the price reaches your stop loss means you should be making $150 or more if the target price is reached.
Other Considerations The five-step test acts as a filter so that you're only taking trades that align with your strategy, ensuring that these trades provide good profit potential relative to the risk. Add in other steps to suit your trading style. For example, day traders may wish to avoid taking positions right before major economic numbers or a company's earnings are released. In this case, to take a trade, check the economic calendar and make sure no such events are scheduled for while you're likely to be in the trade.
The Bottom Line Make sure conditions are suitable for trading a particular strategy. Set a trigger that tells you now is the time to act. Set a stop loss and target, and then determine if the reward outweighs the risk. If it does, take the trade; if it doesn't, look for a better opportunity. Consider other factors that may affect your trading, and implement additional steps if require. This may seem like a tedious process, yet once you know your strategy and get used to the steps, it should take only a few seconds to run through the entire list.
TRADE CHARTS PATTERNS LIKE THE PROS TRADING PLAN
Setup + trigger = trade NO trigger – no trade
1 st Identify the pattern
H1-H4 M30 ABC-AB=CD-GARTLEY-121 PATTERN’s
2 ND Fibonacci clusters zones
(3 or more Fibonacci price relationships within a formation) If price tests and RESPECTS the setup zone,
3 RD Price action reversals patterns
M30/M15/M5 OR LOWER TIME FRAME PRICE ACTION REVERSAL PATTERNS TRAP OR/AND HEAD AND SHOULDERS ETC
4RD Trade Entry:
for A TRIGGER GO TO M5 TIME FRAME CHART Buy trigger 8 ema crosses above the 34 ema AND a prior swing high is taken out Sell Trigger 8 ema crosses below the 34 ema AND a prior swing low is taken out
5 th stops
for BUY setup:
Place a stop just below the low end of the price ACTION cluster setup
for SELL setup:
Place a stop above the high of the price action cluster setup
6 th TARGETS
Option 1 take profit at the 61.8% 78.6%
Option 2 Exit partials 61.8% 78.6% AND PROFIT 1.272, 1.618 and 2.618 IF THE TREND IS STRONG
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Trade closed: target reached
