Here is a note to myself that I want to share of yesterdays trading setup on a bearish ABCD setup. I took this trade because I missed the hourly Cypher pattern that completed 2 days ago. The emotional part of trading is the most difficult part. Yesterday price touched and rejected T2 3 times. My trading plan allows me that when T2 has been hit I may exit the trade...
Price has now traded the first target of ABCD pattern that was
completed Apr 4 and is standing close to the horizontal neckline
of the H & S pattern at 1,5025-30. The mini target of the whole
ABCD stands at 1,5120 level. Technically, A retest of the neckline
will either confirm or reject the H & S pattern. Selling into
this S/R zone, stops needs to be placed...
**BET** The light grey box shows an excellent area to be short from in EURUSD. Price might just not reach this area in time for my target, but I have an eye out for this trade
I'm a long-term bull on gold who anticipates gold's price rising to at least $5,000 -- an estimate I regard as very conservative -- and so I am happy to continue accumulating at well-established support levels. I believe the recent lows of $1180 reached at the end of 2013 constitute a major support level, the recent highs of around $1380 established in mid-March...
Price has completed a full ABCD pattern from Sep 2012
and also a minor ABCD with 161 extended D-point. Since
the price has been attempting to reach targets. First target
was the full swing CD move of minor ABCD. The technical
target hasn't been reached yet (1,0790).
One scenario is more bullish. Since price completed the
large ABCD prematurely w a fast latter CD...
**WT +99 Pips**Taking an aggressive C sell position in NZDUSD into Resistance. This trade aligns with the short position I am taking in NZDJPY. Aggressive C entries, are exactly what the name implies. AGGRESSIVE. I do not take aggressive C positions unless I have strong signals to do so.
