How much of trading is intuition? Do you have a strict trading plan or do you incorporate your gut feeling? For me, its the latter. This is a clear example. My technical analysis says GU will continue the upward trend to the 0.27 fib level after bouncing off of the 0.5 fib level. However, my gut is saying sell because other XXXUSD sell today and...
This looks like a 🔥 setup! Price formed a triple top and it is close to breaking the 4HR trend line. Wait for a clear break (possible a slight pullback) then sell to the weekly support.
What do you think?
Remember even the best setups can fail, so do your own analysis and use proper risk management.
A double bottom seems to be forming on USDCAD. We can look for potential move to the upside. However, there is not enough confirmation for the move as yet. So we wait.
If you would like to know when I enter this trade or for more idea, like and comment.
USDCHF is in a clear down trend. However, we can anticipate a retraction to the 0.328 fib level and possibly the 0.5 fib level which aligns best with structure and coincides with the neckline of the M formation. But first, we need to see a break above the daily resistance.
Lets see how this one plays out. Like this post if you are waiting for a...
As shown on the previous post, CHFJPY has been in a range and a sell opportunity was possible at the top of the range. However, price did not break the 4HR trends line for an entry.
Now, price has break the 4HR support. Upon confirmation on a candle close below the level and a small pullback the first entry for a short position will be made. Another entry can be...