Had 3 trades on gold last week and it was not playing nice. First trade was running 40+ and took a -20 pip loss, we then entered again a took a full 1R loss on this and then last minute at 4pm on Friday and we now running over 80+ and will be looking for new entries on this pair. Ive seen there is more china news speculating over the weekend and we have seen gold...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.6755.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=0.6735.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
. There is a possibility of temporary retracement to suggested support line (0.6735). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. AUDUSD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
. There is a possibility of temporary retracement to suggested support line (1.6415). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EURAUD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
AUDCAD pair is weakening for the last couple of weeks and a recent pullback from previous low at 0.8889 is now ready to fall again. This time probably re-testing 0.8889. Partial profit is set at 0.89379 while a stop loss is at 0.90577. Risk/Reward for this short trade is 1:1.3
PLAN YOUR TRADES AND TRADE YOUR PLANS
Basic fib clustering technique combining multiple timeframe trend analysis to get high accuracy entries with a larger R:R.
Using the current 4hr bullish trend to enter a long trade on the ent higher low, Fib & TL bounce.
I am aiming for the target trend fib -0.27 extension to maximise reward:risk ratio.