100pips
XAU|USD SHORTApologies for the late Upload, we have only just joint trading view!
We entered a short position on Gold @ 1341.51
SL @ 1350.09
TP1 @ 1270.00
TP2@ 1185.00
REASON FOR THE TRADE:
MN TIMEFRAME - when looking at the monthly time frame you can see a clear false breakout, which has again been replicated, the strong resistance at 1342, was showing reversal signs and failed to breakout beyond this point.
W1 TIMEFRAME - on the weekly timeframe you can again see similar correlation, a very similar pattern forming and has taken place.
D1 - the daily timeframe is probably most clear for the signs of gold, the typical tweezers trying to breakout, and failing at our key levels.
SUMMARY:
Although the view for gold is bullish, the charts do not lie. We have had a lot of turmoil with the ongoing trade war and tariff's, Brexit and many other factors where we have seen investors flee to a safe haven. my overall opinion is bullish, but NOT YET. Although watching BBC makes you feel like the world is going to end, there isn't enough for it to push above these levels. We will be patient with this pair, I personally think TP2 is optimistic, but also possible. We will see if trump does anything else crazy.
Happy trading!
NZDCAD 100PIPS SHORT POSITIONWe are looking for a trend continuation here, waiting for confirmation on that triangle pattern to breakout and enter a sell position around 0.8907 and hope for it drop 100pips. it's a dangerous trade because of news coming on NZD (wednesday) and CAD (friday). On the other hand NZD interest rate decision could launch price back to 0.8950 zone (i believe it wouldn't any go higher) and thats why we will choose to place a higher SL. lets see what happens !
GBPUSD 100PIPS SHORT POSITION 05/05We saw o huge bullish move last friday getting passed the 100pips mark. We are now waiting to see some retracement with the price correcting to its down trend. Our main target is 0.618 fibonacci lvl. After running +20pips we will modify our SL to breakeven and lets hope to see our final 100pips target hit.
Tell me I am Wrong about the Brits
I wanted to verify my views on GBPJPY as to whether or not it is truly on the uptrend. I was high yesterday so I doubted my report yesterday. But with a sober mind I can say price action is definitely bullish. Price currently is on my green 38.2 fib, which is slightly above my orange 38.2 fib. Odds are if price does not move upward it will trend sideways.
Price action is quite bullish. The next price goal is @145.000, but I see long term price action towards 145.500. Not only is it a major quarter point, but I have two fib levels that show confluence in that area.
If price moves towards 144.000, then we must wait until further price action.
Back Test: GBPNZD (1b)Long
Retest Strategy: GBPNZD (Not EMA)
Checklist for Long
1. Retest at support -
2. Support holds -
3. Reversal Candlestick Pattern -
4. Long lower Shadow, Short upper Body -
5. Bullish Doji -
100 pip TP based on 4-hr chart
Could set TP to 50 pips for shorter timeframe (1-hr chart)
EURCAD 5-3 WAVE PATTERN - ENTERING ON THE PULLBACKReason for short:
1) Minor Upper Trendline broken with one strong bush so (bias is still bullish but there is a small counter trend opportunity - therefore a tight stop loss since this trade carries high level of risk)
2) Pair was unable to push through a major level of structure and immediately later the trendline was broken
Target is set for 2 levels of confluence
Trade safe and do your own due diligence before entering a trade.
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