(Patience) Break and retest on bitcoin for weekly wick fill. TIP: It’s kind of an obvious setup so I think you’ll get that big wick (that BTC frequently does) to hit SL on people already in a buy position or a close below support to fake out people trying to sell, then a close back above the support for the move.
Use proper risk management, TP 25 to 30 pips from entry SL 20 to 30 pips from entry Once either zones are broken wait for the return to the zone and continuation to enter.
Waiting for GOLD to break one of the SR zones. After breaking, we put a pending order to the outer edge of the zone. Highly recommend to use Twin Trading, for bigger potential profit. Stop Loss - I'm using max 40 pips stop loss. The most important is, to put it behind the SR zone. But it all depends on your strategy and RRR. Take Profit - Put take profit at...
The weekly long term trendline on this pair has been broken and a potential long opportunity is setting up. I am currently waiting for the channel that is forming on the 4 hour chart to break and retest the 50 EMA on 4 hr chart. Stay tuned for any updates! However i will only take this trade when i exit my other active USD position. I do not want to risk my...
Hi guys, The busy week continues, I just put in a buy order on AUDUSD as shown on the chart. Price has broken out of a horizontal resistance/support zone aswell as a trendline which is part of a rising wedge, it has now rejected the top of the zone twice in the same day and decelerated. I don't like the 50 EMA being in the way and getting rejected. I am also...
Hi guys, coming from a slow week last week we are now getting another setup. USDCHF is retesting the recent horizontal support zone with a lowtest, while also rejecting the major 0.5 Fibonacci retracement level. A 50 EMA retest would've been awesome, but this price action is enough for me to justify an entry. With 5 confluence factors this trade is a B in my...
Shorted GBP/AUD based on the following reasons: - Not able to break above 50 fib line on daily - Beak and retest of 2.03 level - Bearish engulfing on Daily Caution: This might be a fake out and we could possibly just be re-testing the broken descending trendline in which this trade would be invalidated i.e. the trade would be closed if PA turns bullish.