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...
Im already short on the US Dollar through my USDCAD short yesterday, I've since seen some more confirmations of Dollar weakness so am now doubling down on shorting the Dollar. See my previous setup here -
We have numerous confluences with this trade idea, broken trendlines being...
Simple setup here where the daily price action is showing initial rejection of an established trend line. Volume isnt suggesting enough strength to push through this resistance in the approach to the trendline, inviting sellers to enter without too much opposition.
Stop Loss above both the trendline and recent high in order to place two solid barriers between...
We all love a pending order where we can set, forget and collect.
Set the order
- Pending buy @ 107.700
- Stop Loss @ 107.200
- Take Profit @ 110.00
- We can leave and forget our pending buy with some confidence due to the quality of the setup. This is a straight forward Fibonacci setup on a high timeframe, using a high timeframe adds weight to the price...
Simple setup here... there’s a convergence of resistance in this price zone.
1st - Price is at the top of a downward channel
2nd - Price is at a monthly Pivot Point (which has shown rejections for the past few days)
3rd - Price is at a psychological level of 1500.
On top of all of this, there’s recently been a strong bullish trend on gold and today’s green...
A perfect short pocketing a quick 2% growth on the account. My entry point is the red arrow and TP at the black arrow.
I will show my working below in updates, so you can look out for similar opportunities. This price action pattern shows up time and time again and is a textbook footprint of smart money.
This trade signal was sent out in my free Telegram page...
A significant level of support (20500) is again being tested... The biggest test the level has had so far.
Up to now every test of the 20500 level has seen a quick 'touch and go' reaction, where supply has very quickly hit demand (waiting buy orders) and price has bounced away with strong momentum.
This time looks very different and suggests that the demand in...
This pair has consistently printed inverted head and shoulders patterns on the daily trend line (3 so far). The latest has started to form and in addition printed a bullish pin bar just before the US long weekend.
Looking over the indicators for confluence on the trade idea, the Slow Stoch is printing a bullish crossover on the Weekly chart....
If the hourly trend line is broken to the downside, then there will be a short opportunity
Weekly RSI overbought
Key resistance that has held since July 2014 @ 1350
Possible there will be an exhaustion push to around 1340-1350 off the trend line.
TP 1 - 1320
TP2 - 1315
However, a break of 1400 will mean an upside target of 1550