US30 broke market structure and is currently sitting at an important daily key level, Its having trouble to break it so I believe it will be dropping and testing back the lows, plus the daily candle doesn't have a lower wick and the market needs to correct the wick from the previous daily candle. Happy candle to close. My gold trade all hit TP as you can from the...
Gold has formed a flag on the daily and has broken it last Friday, today on the higher time frames, the candles have been closing above it so I have set 2 buy stops, one that is conservative and that has the 1:1 risk to reward with 1% risk and another trade with a 1:3 risk to reward ratio with a 1% risk as well. We should never risk more then 2% per set up.
We can see that GBPCAD has formed a head and shoulder pattern by completely respecting the left shoulder while forming the right one. For me this kind of patterns are more probable on the higher time frames such as the H8, daily and the weekly chart. I am in a short position now, 200+ pips in profit and more to come if we print an impulse as long as the neck. We...
We have USDCAD that has come to the 78.6% retracement, USDCAD has been downtrending for several month to the bias so our should focus should only be to the downside to have a high probability trade.
We have the left shoulder, we have the head and the right shoulder is creating as we speak, all that we need now is to wait for some price action so combine with our bias and then we can execute.
We can see that gold is respecting this trend line which was respected very nicely twice in the past going back untill August 2017, we can see that now is the third time coming into contact with this trend line, its respecting it and we have already seen a bullish push. Now we just have to wait for the real move which should be until the next resistance level .......
