We have seen gold fall below the key support level of 1765 indicating that the bears have confirmed control to take this market lower. The 3rd test of our long-term bear channel leaves us waiting on signs of reversals.
A falling wedge can be seen on the 4hr which we await confirmation on now.
We have dipped just below the marked S/R zone for the neckline/support retest, however 90.200 is the previous higher low support, so as long as this holds, I feel we should be okay to recover (USD strength).
This would then tie in nicely with what we have marked on GBPUSD shorts.
Good Morning all. I hope this message finds you well.
Yesterday i got faked out by this pair, nothing major.
Today I placed a buy position as price is greatly oversold. Lets see how this one plays out - looking to hold this trade if the momentum is strong.
Advice for today:
Trading without a stop-loss is financial suicide. Always protect your capital no matter how...
Good morning all!
Hope you are all having a superb day!
The video explains our trade idea on buying XAUUSD today. Below you will find some details about the trade.
ENTRY 1653.214 /// MODERATE 10%
SL 1637.737 > MAKE TRAILING SL
TP 1 - 1688.300 ( pips 3549 / RR 2.4 )
TP 2 - 1699.440 ( pips 4643 / RR 3.1...
So, we made some decent pips on selling USDCHF on Friday... before the markets closed we went out of all positions (see our myfxbook) and we waiting for another singal, we now have it!
The trade is explained in detail and our trade tactic too!
The London session is in full force and the only solid trade setup we are trading today is USDCHF.
SL 0.98523 ( pips 14.2 )
TP 0.97870 ( pips 51.1 )
The RR is a solid 3.6 because the SL is pretty tight. I will look to move to break even and add on 5 pips after 20 pips in profit. Then Might re-think my TP as the contraction is...
We see price re-testing previous market structure (resistances), a potential sell opportunity to the downside. Sell if price breaks through the upwards trendline.
Enter to sell at 1.27933
HOWEVER, if price break through resistance 1.28032 then we are seeing a continuation to the upside
Enter to Buy 1.28065
EURGBP pair has just made another lower-low on H4 thereby inviting more BEARS (lol!). A retracement to 0.90473 and 0.90621 could be a good sell entry for a nice profit. Better sell entry will be established on lower time frame possibly in the London session tomorrow.
PLAN YOUR TRADES AND TRADE YOUR PLANS
Looking at the weeks support level that has been created we are looking for a further push back up in the London open and NY open.
Very small stop loss in case this level is broken, small target of 60 pips,