I'm expecting price to return to the long term descending channel as there is a lot of liquidity there for the taking.
I expect this to happen via the channel breaking (wiping out stop losses) then price to continue downward. I have a trade idea already generated before price even reaches that destination, so when it does I am fully prepared for any...
Been away from trading due to holidays (Thank you Isreal you were amazing!!)
So here we are in a long term descending channel from a higher timeframe. Price will most certainly reach the top and re-test it.
And during this long term channel, we have a shorter ascending channel with a perfect place to enter.
If it was only that easy ever retail trader...
We have a clear 'Triple Top' and have created a neckline entry point, we have also gone below the 200 SMA and we have very clear Regular Bearish Divergence, take your profit in this golden zone which is the 50% and 61.8% Fibonacci retracement
I foresee a possible short on gold as it heads to resistance zone.
RSI shows gold is overbought.
Risk/Reward is 2.69
TP 1: 1502.68
TP 2: 1498.36
Good luck! Feel free to let me know what you think.
Another solid Risk to Reward setup here. I cannot stress how important it is to have a good Risk to Reward ratio under pinning all of your trading decisions. I always look for 5:1, 4:1 or at least 3:1 reward for any capital I put at risk. This means that even if im performing badly and placing more losers than winners, I'm likely to at least break even or even...
XRP has seen on a weekly perspective a form of higher highs for me this is here a perfect opportunity to long it until at least the 0.30 cents. I would then simply wait for it to correct so i wouldn't move my stop loss like near the 0.30 cents also possibly taking some profits off the table and my 2nd target would be 0.36 cents region from there i would start...
Here is the follow up to the previous post and the prediction I made. NZD news helped reach the target faster. Amazing R:R of 6:1 as the stop hunt was very shallow, but that's basically how it is done. All the people who went long earlier and got stopped out must be feeling pretty sad now. I'm happy with this trade.
Hi guys this isn't one of my usual pairs but I have found 2 potential short-term set ups on the USDCAD.
Sell @ 132.75 area
Buy @ 131.95 area
I use the same format for all my trades, with a single 50 pip stop-loss and 3 take profits at +30, +50 and +100 pips unless I see a potential for a bigger final take profit.
This is not a signal; just my...
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GBPCHF calls BEFORE it happens. youtu.be
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USDCHF is now trading at trendline and horizontal resistance after the midterm uptrend. The pair appears bullish around this area so we will wait to see a rejection of this level before looking for short entries.