After yesterday’s successful breakout of the channel gold had rocketed, I added fib levels to my chart as I see this climbing back to 1600.
I’ll be entering at the break of levels and at the rebounds today.
As you can see on the 15 min chart it is respecting the channel.
I have been scalping between the channels using the bollingers, currently waiting to go long or short depending on the break of the channel.
Yesterday I used this strategy with 1 hour charts and it played out perfectly.
AUDUSD looking to retrace to the 1 day downward trend. We are looking to follow the higher lows on the 4 hour chart. Another scalping call with a 1:1 risk to reward ration risking only 5% of the account. Risk management is key so stick to your trading plan! Welcome to your thoughts and opinions.
GBPUSD looking to move bullish. The RSI indicator is sitting around 25.0 which is a common indicator that we are in a bullish market. This is also reinforced by the Stochastic indicator which is showing us that the market has been over sold. Finally, we have seen a bearish market throughout today which broke a significant support level, therefore expecting a...
Scalping Idea with a 1:4 risk to reward ratio. On the 4 hour chart there is a upwards channel forming. As price is currently sitting at the bottom of the channel and the Stochastic indicator is also showing the market over sold, we are expecting for a reversal. What do you think?
USDCAD bulls have shown strength - during the London open we saw a bullish run and now during the US session we are now seeing a retracement.
I am now looking for price to reject 1.3303 - 1.3302 - I will then be waiting for price action to give me an entry.