Possible USDWTI Long position!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe - 1-2 Days
Actions on -
A – Activating Event
Commodity consolidating above the 200 mva and has reached a condition of being oversold.If we see a break above the 53.10, a long position may be an option :)
B – Beliefs
Market move towards the first Target 1 level @ 55.40
FX_IDC:USDWTI
Trade Management
Entered @ Sign up for details
Stop Loss @ Sign up for details
Target 1 @ 55.40
Target 2 @
Risk/Reward @ 3.1
Happy trading :)
Follow your Trading plan, remain disciplined and keep learning !!
Please Follow, Like,Comment & Follow
Thank you for your support :)
This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Strategies
New trading strategyNew trading strategy:
1. Find an asset in which you believe, an asset you believe in the long term will 10x or 100x, do the research properly. Try to have a big portfolio for the trading of this asset ( the money you are willing to invest and the money you are willing to trade)
2. Do your fundamental and technical analysis.
3. Start your trading using the dollar cost averaging, place only small positions (in between 0.5% and 5% of portfolio, depending on the risk of the trade) how ever here it is with no stop loss, only take profit or you sell for a profit your self( this is how I like to do it most of the time), if after a rise you are able to place a stop loss that is in profit you may.
4. If you were unable to take profits, and you position is in the negative. You wait until it is in profit again, this is why it is very important to choose an asset with value. So technically, your loosing trades become long term investments.
For example, I do this with XRP, I did my research saw a tremendous value. I studied the charts, and I have been trading XRP for a week now, for now I have 3% of my original portfolio in investments, however with my trading I already gained back those 3%. So my profits are sitting as long term investments which I believe will 100x in the future.
This is why you want to focus on one asset, understand it and get familiar. By doing this, you will be holding an asset you truly studied and like, this takes away the fear of loosing money, because you don't see them as losses anymore but as investments.
The risks :
If you saw value in an asset which actually does not, you could loose all of your investment, so do your research seriously.
If you do your research but still are hesitant, or if down the line you forget why you started this, the fear could come back when you see all time lows and you could sell for a huge loss.
Basically, the risks are those that come with investing.
You also have the risks of day trading, which is completely logical as you are day trading or intraday trading.
The benefits:
If well executed, you will have no trades for a loss, only green !
It will be easier to accept a negative positions.
It brings you profit in the short term and brings you huge profits in the long term.
Since I "created' this strategy it has been working wonders for me so I wanted to share it.
If you like it, please get in contact with me, I always like to get new contacts who are traders.
If you have any questions please don't hesitate.
Thank you for reading,
Piers
Strong buy Baba buy Calls or buy stock with a stop lossBaba is ridiculous undervalue, is the number retail in China, yes there a lot of noise and risk, about china dispute trade future, but if you are an optimistic person, like me and buy bargains this is the time of take advatange of fear, now is more clear with the down trend is broken, honestly i really think that this stock could really boom, to $175-185 level by dic or Jan so I would buy near the many calls, if it breaks $162 level and breaks $165 it would possibly fly, i would take some limit risk dic 21-28 or Jan 18 calls $160 or Jan $165 if you are patience enough could benefit of this trade! if you are long the stock stop loss at $150 level sellet $175-180 level! Bargain!
Trading levels for 11/27/2018As we expected the market rallied to our decision zone, although I was waiting for a move a little higher close to the 6700 level, tomorrow I will have to keep an eye in that descending trendline, I don't want to short the market if price breaks above.
Please keep in mind that these are not trading signals, use your own analysis before taking any trades.
PLAN YOUR TRADE AND TRADE YOUR PLAN
K.R.S.
STRAT Trading AdviceBuy Price: Yellow Line
TP: Green Lines
Moon: White Line
Support: Blue Line
SL: Red Line
Invest Suggestion: 5-10 Percent
Profit Expectations: 5, 10 or >20 Percent
Just hold and watch. Sell while you get some profit. Good Luck!
Looks Good? Leave a like, share and tell me in comments if my trading advices are working for you.
Thanks for visiting.
START Coin Next Move 80% !!Strat Coin are Coming on the Bottom then We can Etntry For Longterm or Midterms Period , in Both Conditions are VeryGood Coin.
Buying Zone 2000-2050
Sell 2750, 3550
StopLoss 1750
I hope that Price can fly From Buying zone.
Share Your Opinion in Comments.
if You Satisfied With My idea Then Dont Forgot To Hit Like.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
The best Van Tharp's Quote!! Read all his books!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Van Tharp “When you understand what’s involved in winning, as do professional gamblers, you’ll tend to bet more during a winning streak and less during a losing streak. However, the average person does exactly the opposite: he or she bets more after a series of losses and less after a series of wins.”
Over the 18 years of trading the Futures/ Stocks and Currencies market, Van Tharp's books have help me immensely.
I suggest you read his books. Some of them are listed below;
Trade your way to financial freedom
Super Trader
Trading Beyond the Matrix
Safe Strategies for financial markets
Financial freedom through electronic day trading
I have a large collection of trading books. If anyone needs suggestions on great trading books i would be happy to send you a list :)
13 tips for tradersI had this on my hard drive, I thought I would wipe the dust of it and write in in a clean manner in a post, helps me think more clearly.
I need, and everyone can benefit from (new intermediate advanced legend even), having all of this in their mind:
1) Advice that trading is 95% psychology ===> Throw it in trash container
Worse advice I have ever seen, or I totally missed something.
Anyway, simple proof that this is all a load of feces: 5% of the population are psycopaths (not the murdering kind) so if this was that important they would all driving roll royce's. Also I am not a psycho (I think) and I do not have much issues with this... I guess not beeing dumb enough to go ALL IN *100 helps.
Also... then, let's just let a bot do the trading.
Making lists like this learning more everyday and always evaluating our own performance and track record, filter what does not work in certain market conditions... This matters 10000000 times more than "muh feeling :'("
2) Look for ideas opposite to yours, especially beginners (less than 1000 hours trading/learning)
Watching what others are doing helps, and when you have an idea looking for views opposite to yours really helps.
Famous billionaires do this alot. Especially they surround themselves with people that view the world differently.
Of course, do not waste time arguing with bagholders, and sadly alot of ideas opposite to yours you might find are trolls drawing arrows pointing up to unrealistic targets, it could even convince you that the "opposition" are clowns and there is no way you could be wrong, so do not fall for that trap. Just because someone is stupid does not mean they are always wrong. Consider bad TA as 50/50.
3) Noobs want a sure thing. Good luck with that one.
4) "It is impossible or super hard to make money you are competing against the best" ==> Trashcan advice...
First, for lighting fast scalping they are using microwaves now... You are not going to win, sure.
But not only is the competition really not that good (maybe I am a little biased here idk), but you do not even have to compete with them. Big money buys, just follow the momentum, ride on their backs.
Forex is full of huge money (central banks, international companies buying a currency) they are not trying to rip traders off by hunting their stops, they actually need to exchange currencies, nothing more.
Beeing arrogant and thinking every one is a dumb ape but you is probably a big plus :)
All that matters are facts, "Is this pattern profitable?" "What is the winrate?" "What is the risk reward I get on average" "How long does the trade last?" "What are the fees?" "What are the odds of a massive selloff?".
5) "We dropped 90%, this HAS to be the bottom. How much further can we drop?"
We can drop another 90%. And another 90%. And another 90%. And so on.
I did not find any statistics but I am pretty sure that looking at ANYTHING that lost 90%, you would find that the vast majority of the time it was not "a huge opportunity" well it was, but not for buyers. Afaik some great traders made and make big money by shorting dead trash before it goes to zero. If a company is dead, how do shortsellers find buyers? Because to sell you need a buyer. Well, all the idiots that skipped math class and think "this is a great opportunity".
Quit trying to fool me, I am insanely bad at maths, how can you drop 90% if you alreayd dropped 90%? How many more times can we drop 90%? * points and laughs with his redneck friends that only have 5 great-grandparents *
x is a real positive number (R, +, .).
y is an integer.
x^1 > 0 since we have said that x is >0 and x^1 = x
Now, consider x^y > 0. If that is the case, x^(y+1) >= 0 since x^(y+1) = x^y * x and the product of 2 positive number is positive. And if the result was 0 then it would mean than 1 of the 2 numbers was 0 (I think I don't need to prove this) so it will be > 0.
There are plenty of stories of money managers that fell for "it CANNOT fall lower" and got destroyed. The internet is full of bagholders that get destroyed all the time with that insane logic. I do not even profit from this... Maybe I should rethink my whole strategy, when I see the sheer amount of bagholders with "buy the dip" mentality I could profit from...Might have been wasting my time this whole time when I could just short bagholder crypto's/stocks. Well maybe not crypto's as they are long sideways (complacency) lmao complacency @ -95% :D
6) "Soooo this means... y can be as high as we want it to, or in other words the number of times we can go down 90% before touching 0 is INFINITE."
I do not know what the "record" is. I know that some companies have started at 10000$ and more and did not disappear even when their price was at 10 cents, that is a drop of 90% 5 times in a row.
There are several examples, but 1 I see alot on social networks (lots of experts were recommanding to buy the dip "opportunity of a lifetime" when it dropped 90%)
Of course it made 5 90% drops in a row looking at bottoms, but if we look at bounces from the tops after it bounced, it is obviously going to be more than 5.
You just... cannot make this up..
And there are people defending it and claming they did the right thing when they "bought cheap" and are thinking of their yacht color etc. I cannot make this up.
7) Use excel. Have a process. This kind of stuff.
Here is what I have for 1 of my strategies, I just wrote it down yesterday, helps me think more clearly and stop thinking about it:
Pre-entry: Check previous occurrences on the chart, do some TA. Note where structures are.
Entry: Entry is on the level or if we're past it a little after previous low.
Target and stop loss: Initial target T1 is next structure, usually 1% for FX. Set stop loss to get a reward:risk of 2.
Trade management: Close half at my target 1, stay until final target as long as the price stays above 0,382 to 0.5 fib.
Here is an example of a winner I would have shorted following that strategy:
Another one:
8) Money is made missing out.
You make money when you miss out.
Let me type this a second time:
YOU
MAKE
MONEY
WHEN
YOU
MISS
OUT
"You missed out" that sentence... wow.
I do not know about others, but when I miss out a move, I like it, I am happy now, I really am. Because I know I am filtering all the bad trades. If even some good ones get caught, then I must be doing a good strict job right?
Let's check the Bitcoin chart real quick. Here are a few moves I missed out:
a- False break
b- Buy the dip
c- Big money is stepping in
- Yes, people really thought a major bull market was starting. Easy to say how foolish that was in hindsight, but back then I was pretty lonely saying that was a bull trap. Even got banned from TV for calling it a bull trap.
9) Do you want to have a life? Or be exceptional at one thing?
Having a life translates too: beeing basic sheeple that tries to mirror the people around him to avoid feeling different, does not have it in him to do whatever he wants but a slave to what others think of him/her, and has a boring depressing life he hates and should hate. Be a sheep or be a winner, your choice.
10) Day trading is bad, you can only make money bla bla bla.
The only reason why daytrading is less profitable than say swing trading is spreads. I do not have the exact numbers here, but a broker analysed the millions of trades his clients took, and the majority of losers... Their losses equaled the fees... You aiming for an intraday 0.3% move and the spread is 0.02%? That is 6.6% of your profit. It can add up really fast. You need a large edge and alot of "margin" as in much more profit than losses to not get hit by fees. I was daytrading a couple of months ago, I filtered so much I had 3 trades a week. And all winners. 3. In a week. "More is better". There is NO WAY that someone making 10+ trades a day is only taking really awesome trades and not giving up alot of his profit to his broker, unless he is trading crypto on Gdax/Bitmex but crypto trading is dead now.
I did it all, and it all works, from scalping for a few seconds to holding for 2-3 months. But you have to spend a little while writing down what you want to do, make sure the fees are small compared to the profit you realistically aim for.
11) Become a specialist.
Find 1 strategy and spend all your time on that.
Or find 1 market... but that one... Nah find 2 markets... What will you do when your market is sideways/dead?
I have 1 single strategy, I am learning about other ones at the moment but I only really have one.
12) If you are new... go for a SIMPLE strategy, do not try to reinvent trading and be greedy.
These are the strategies I am looking at:
- My strategy is picking tops and bottoms where reversals happen (advanced, I would not recommend to most :p)
- I am learning about hidden divergence (trend continuation) (intermediary difficulty)
- I am interesting also in continuation inside bars when there is strong momentum (beginner friendly)
Actually my strategy has to be one of the hardest there is. I use divergence as a filter + additional reason to go against the trend. I have become an amateur-expert at reversals.
I know, this is terrible, every one says not to go for this, but it worked for me till now. I still can use ALOT more experience. Maybe one day I will call myself an expert.
This strategy, if I am correct, is where greedy noobs get slaughtered. It is not easy, it is so dangerous. Sure you look at the chart and think "oh these divergences pop out, I could easilly buy here and sell here".
Or "This was a clear bottom/reversal I could easily buy here". Nope. Sorry. You could not.
What I started with was basic trendlines. I would look for anything bullish and buy when the trendline is touched, then sell when it goes ballistic, if it drops below the line I AM OUT. I was not very excited about making money when I started, but I really really did not want to lose any. I think this is the approach people should have (right?).
Here is an example of a trade I took a year ago before I got bored and switched to another non recommended highly dangerous strategy :D
13) Trading is easy, but it takes time, and all these other qualities you have heard about.
Take something simple: Support and resistance. Pretty basic. Just horizontal lines.
Well, I think I am someone smart, I am a very fast learner, and I do not exagerate when I say I spent THOUSANDS of hours analysing support and resistance. Plus at least several hundred looking at RSI divergence alone. Plus hundreds looking at market life/cycles. Plus hundreds looking at different market conditions. Plus hundreds looking at moving averages. In total I am at 5k in a year.
To become an engineer, you will need 5 years (is this the same in all countries? Can't be much different). You get 200 class days a year, 8 hours a day + 1 for homework (well maybe some people need more idk OR skip all lessons skip homework and rush rush before exams works too I guess) so that's 1800 hours a year or 9000 total. Of course you learn alot of useless stuff, but when you start working you have to learn your new craft anyway.
Would you let an 18 yo surgeon on his year 1 operate on you? Would you expect him to reinvent surgery? Yes actually, but not in the good way :D
Now trading does not require 10 years of studies (hey especially if you full specialize on 1 thing and 1 thing only), but I think you will need a couple thousand years under your belt to really know what you are doing.
If you are lucky and have the qualities of a good trader in you as you start, and go for that 1 simple strategy and nothing else and respect all the rules (easy as you already have all the qualities) you could start making money pretty quick but not too quick (you have all of the qualities = you don't risk too much when you don't know what you are doing), you might get hit when a bull market turns to bear, but you will not get hit hard as you have all the qualities a trader needs. Otherwise, it will take time (or beginner luck), and in both cases before being really good you will need a couple thousands hours under your belt.
So, the best advice you could get: if you do not like this, forget about it. Do not force yourself. The power of greed is not going to turn you into a millionaire even if you really really want to. It will turn you into a hobo thought, for sure.
Trading levels for 10/09/2018Monday was an interesting day, sellers were in control for most of the morning and part of the afternoon, after that buyers stepped in and had a strong close especially in the YM and ES, suggesting a short-term rally. Tomorrow R1 and R2 might be good places to start some shorts, we don't have any relevant news coming tomorrow, therefore we can expect a nice smooth trading day.
Please keep in mind that these are not trading signals, use your own analysis before taking any trades.
PLAN YOUR TRADE AND TRADE YOUR PLAN
K.R.S.
Trend Reversal Alerts Strategy in DepthThis idea based on one of the simplest trading strategies in the world Trend-Reversal-Alerts-Strategy that I shared recently. Now I want to spread few words about how you should make it perform better with help of buy and sell resistance and I will show you the exact methods.
But first, if you still not sure how this strategy tester is actually work you should definitely read this:
TradingView Blog:
EN/new-features-improvements-strategy-backtesting
RU/new-features-improvements-strategy-backtesting
Also I want to recommend an article that I googled. It examine in depth and gives a perfomance summary on every single subject:
tradingview-strategy-tester-performance-summary
According to Buy/Sell Resistance. When new candle created with assigned Open value, Resistance = 0. In the second Close start moving it changes so called Resistance of that candle. It could be negative or positive. So by setting resistance you can tell this script to enter/close your trades only when Buy/Sell Resistance values are greater or equal than your settings values.
* You should tweak it only after all strategy tester options are ready. Very important!
I do it in a simple way : open settings -> Buy Resistance = 1 -> Sell Resistance = -1 -> then
if nothing change -> Buy Resistance = 1.5 -> Sell Resistance = -1.5; otherwise -> Buy Resistance = 0.5 -> Sell Resistance = -0.5
and so on...
* This is very important to do to eliminate in the future "resitance issues" - when you can't enter/close trades because of your resistance settings.
That is all for now.
Take care and bye bye!
Trading levels for 9/21/2018Hey traders, i guess the market wants to keep going higher, the daily chart is still very bullish, followed by the 4H chart that broke the descending trend line and is looking to take on 7627, in the 1H chart the gartley pattern was completed lets see how is going to play out.
Please keep in mind that these are not trading signals, use your own analysis before taking any trades.
PLAN YOUR TRADE AND TRADE YOUR PLAN
K.R.S.
Trading levels for 9/20/2018The daily chart is still intact, the 4H chart is showing consolidation and indecision, bulls will have to take the descending trend line and 7620 to take a shot to test the 7720 level, in the other hand if the bears take the 7420, we can expect price to move to the 7200 area. In the 1H chart for those advanced pattern traders, we have a nice Gartley + an AB=CD formation at around the 7600 area.
Please keep in mind that these are not trading signals, use your own analysis before taking any trades.
PLAN YOUR TRADE AND TRADE YOUR PLAN
K.R.S.
NEO (neo-usdt) IS AT THE BOTTOM ? Quick BUY strategy! Might be the time of the Matrix, when the decision between the 2 pills would made the movie a success or a cult.. we had the cult..so what's the crypto currency NEO future!?
A drop to 16.2 $ area as been confirmed 3 times and the descending channel started on the 7th sept, after a quick recovery from the 5th sept, has touch 20$ , 18$ and 17$ usd area,
now might be the time for the bulls to kick in, we can expect a last drop to the 15$ area , followed by a recovery that could give the signals for the buyers, we recommend an entry on the 15$-18$ area , with a sell target beetwenn 20.9 usd and 21.75$ that might create some resistance. The moving averages crossed on the 4hours chart today, this could be another interesting signal.
This this a 4 hours chart analysis with a quick swing trade strategy, we recommend to double check the resistance level and the descending support line, if the volume changes, in order to justify the entry has to be a full sold out and will definitely have some deep market charts signals as well.
Hope this will inspire some new ideas, don't forget to hit the like/follow button if you feel like this post was helpful, that's the best way to support us and our work.
Happy trading days
C-Monkeys
Trading levels for 5/31/2018Hey guys, here you have the trading levels for Thursday, Wed was a very slow day for us, we had no PivotPoint trades, but we were able to capitalize on one of our other day trading strategies. Moving forward we have some nice resistance at R1, we might look to take some shorts from this PP, but we will have to wait and see what happens overnight. Some of the heavyweights of the Nasdaq keep grinding higher, therefore, we will be careful when taking trades to the short side, and mainly look to take some long trades.
PLAN YOUR TRADE AND TRADE YOUR PLAN
K.R.S.
USD Weakness Dominate Across the Board As Market Sentiments Weigh Heavy
One of our market insight on the currency front is the AUSSIE Dollar rise as the ASX 200 index above chart have also benefited from the USD weakness but more importantly Australia's growth have proven to take shape as the index have rallied to its six month high and stayed above the 6000k key price level.
With the Japanese Yen still gaining ground on its value the USDJPY just broke the 110.00 levels and its currently at 109.89 aiming the 107.80 - 108.00 range on the way lower with an extension that may not be discounted to surpass these levels. The USD's continued weakness has been the dominant factor in the Yen's rise on top of Yen repatriation gradual flow into equities contributed to the appreciation. Although, the NK225 is on a corrective mode price at 23941.11 from a high at 24129.34 due in part to the USDJPY decline as of today's market movement.
The DXY is at 89.90 as of this writing. And at the rate it's going the 87.50 - 88.80 basis point range is simply a stone's throw away from its objective. On the other hand, this also provided other markets to catch up on the US Equities all time highs and directional movement as an overall picture take into account. And more importantly the European majors like CABLE / GBPUSD and the EURO have gained so much from where they both started during the last quarter of 2017.
WhoTrades Marketplace 2018: Which Portfolios Will Perform Best?Goes through a few of the portfolios that did best on the WhoTrade Marketplace in 2017.
Will the trend be likely to continue in 2018?
PLUS, takeaways from each portfolio -- strengths, weaknesses, and how all three can be combined together.
aff.whotrades.com
BTGUSD: Trading strategies BTGUSD Trading Strategies
Still unloved and unwanted. Big rejection spikes/pins and
more just recently...this should hit 216 soon, still another 12
points to lose here with just 4 points of upside risk with a stop
at 231- put a buy order in at 217 with a stop 3 points lower
and a sell order in at same time at 233 for 16 win and 3
risk...better odds still. BTG must hold up at 216 at all costs
tonight. Any failure here would tip it back into bear territory
and trigger a short trade: it will likely fall away to 188 -186 at
least - and then if this range fails back to 151 where we look
to buy again with stops 2 points lower. If you see it hold up
well off 188 can buy there with stop at 186 ready to reverse
back to 150 if the stop is struck.
BCHUSD: Vunerable below 1300 - sell here stop 10 points aboveBCHUSD Update Trading Strategies Today
We were short from 1346 back to 1245-1228 range for a quick 100 point win but then reversed here according to the plan
(top left) - we were looking for a wipe-out to 1286 and hena bounce back to the line above it on chart and then the big
collapse. It went OK, but the low at this point was 1274 (so stops which were way too tight in a crazy fast market were
hit for a 5 to 20 point loss and we missed a great trade back on the rebound as it duly whipsawed back up to 1349-1367 range
with a great pin bar of rejection appearing as it attempted to break free of the parallel that still holds it back now - a clue that
this is still unloved right now...so with TV down and no way of uploading we had a second chance there to short again...what
a night for TV uploads to explode. This is so technically near-perfect (the new downtrend contained within the parallels is
hardly perfect, but still feels right (but we know it's can be violated on upside and not be trustworthy, so not perfect
here for sure)...will it stay that way for the finale?
BTC still doesn't look finished on the downside yet. It's about to hit the upper parallel and can reach 1300 where it becomes
a sell again, looking for the final flush out back to 1178 to 1123 range. Look to get long again in this range if struck later.
Will likely be hectic and full of whipsaw potentially, nevertheless brave the storm and look to get long as low down
as possibe in this range. Can set buy orders now, rather than in heat of battle, if it comes as expected to. Spread them
across the range from 1178 down to 1123 with all stops below 1100. if not all struck be ready to add on break of upper
parallel once the lows have been struck.
Cannot trust a break above this upper paarllel that controls upside as we can see it's been broken through but never
survived a retest, but still believe it will hold back this rally at 1299. Sell from here with stops 10 points plus above the
parallel and look to buy back later, as above.
GOLD: XAUUSD Trading Strategies for both sides of marketGOLD XAUUSD Strategies for both sides of market
Gold is now delicately poised - to say the least.
Am closing out the long at 1274.75 for just under 4 points as
it looks like it can come back again to the lineof last support at 1270. This entire pattern all month looks like a
continuation pattern, prior to gold crashing back to 1203 level. But gold has been playing chicken with the bears all
month and it may still make one last rally on dollar weakness before falling away. Still think it will bounce off that little
uptrend line one last time on dollar weakness so will be putting in an order for one last long attempt at 1270.5 with a
stop 1.4 lower at 1269.1. If struck and then the stop goes too will reverse for fall to 1260 with stop above 1270. If we see
this price action will close out and await what happens at 1260. That's the last line in the sand for bulls. If and when it
caves in will look to short pretty much immediately with stops above 1270.
Upside depends on DXY: it's plain to see from the shape of the pattern this month that no one really wants to buy gold, it's as
if they only do because if they don't they do nothing instead, or worse, lose by being wrongside and staying stubborn. So
this long is contrarian and low risk with a stop 1.4 points away if struck. It just needs to get through 1275 now and it should
start to attract buyers - but there is resistance right here, so am taking the few points available and using them as stops on
next trade, as above. and if it doesn't come back one last time from here will have to buy again above 1276 for another
reluctant rally to 1286 at least, more likely to1297 and just maybe1305. This entire rally will depend on the Dollar falling.
If it doesn't gold can't really rally. Hence both charts. Hope it's of some use in the coming days, whichever way gold jumps
next. Good trades coming up here, though this might not be one of them!
AUDUSD > Long PossibilityAUDUSD > Area of interest > 0.77462 - 0.77542
Oanda 10/13/17 closing price @ 0.78860 w/ increase @ 0.88%
Pullback to S2 / S3 levels is required for set-up to remain valid.
Buy Stop Entry will be placed with further confirmation and if analysis rules/strategies are met.
Potential Targets:
T/P 1 @ 0.78676
T/P 2 @ 0.78894
T/P 3 @ 0.79987
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.