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Limitless Idea; S&P500 possible long.-Using the 4HR time frame I found a busy Zone which price previously entered and there was action. - My strategy consists on locating a OTZ ( optimal trading zone), using the 4HR help locate the overall direction. -I like to see price enter this zone above, once this is confirm then i will wait until price retest it for a new support area. -My confirmation for new support area consists of a double bottom pattern with a hammer candlestick following the confirmation. -Then, I use First Wick which created the OTZ along with ATR to locate my Stop Loss. Limitless Trading Firm.
SP:SPX
by LimitlessRx8
1
My A+ Trade Set Up when trading XAUUSD (Educational)Whats up gold gang! .. thought id drop in to show you how i enter my trades when they enter my zones. I set alerts here on trading view, then when price is approaching my zone, i get to the computer and lock in Im looking for a clean break into the zone with a strong candle on the 15/30/1h That candle must close Next candle to open and do a small pull back to create a wick. This says to me no buying pressure is present. Entry on the flip of the candle and break of previous candle Target is placed. Stop loss above previous candle high. Anything above that is invalid. Of course i do things to manage risk and increase reward as the trade is moving, but they are personal to me. You will all have your own risk parameters im sure. Thats it gang .. very simple, but as you can see .. very effective. My zones work on any strategy, you could us smart money concepts, fibs, support resistance etc .. they will all work with my directional bias. Hope this was helpful .. leave a like if it was and follow along for more XAUUSD updates tommyXAU
OANDA:XAUUSDEducation
by tommyXAU
2
XAUUSD 15/5/23 Outlook. Gold to the 1980s?Good evening gold gang! hope your weekend was a good one! We are back, recharged and ready once again for the gold outlook. Lets lock it in .. We are approaching a very strong daily level here that has seen price bounce from many times and a strong close below can mean we will finally start coming back down to the mid 1900s once more. Couple this with a strong DXY push indicating dollar strength .. we could be starting the dollar domination once again. DXY is due a small pull back though as it pushed heavily last week .. so we may see a little upside at the beginning of the week. Buys and sells are on there .. and as usual for those asking, i wait for clear closes in these areas before taking trades and target where stated. I am also not greedy and pay myself along the way as we take what the market gives us, not what we hope it gives us. Ill be updating during the day on this chart any changes made .. so make sure you follow along! Smash the boost button if you're ready to make some cash this week see you in the morning for london TommyXAU
OANDA:XAUUSD
by tommyXAU
10
GBPJPY SHORT SETUP H1GBPJPY is presenting a bullish structure this morning. The price is approaching the 170.48 area, where we have a supply zone. At that point, the market formed a short setup on May 10th, confirmed by the Forex48 1.0 strategy. Additionally, the price at this point could bounce off a bearish trendline, completing the third touch. The target for the short entry is indicated in the 168 area. Let me know what you think. Happy trading to everyone. Forex48 Trading Academy
Short
by Forex48_TradingAcademy
XAUUSD Bullish Triangle H1XAUUSD presents a bearish triangle with two possible scenarios. Currently, the price is in the 2018 supply zone after a false break of the trendline. The objective will be to wait for a confirmation of a breakout either to the downside or to the upside of the triangle. The upside breakout seems to be more likely given the negative sentiment towards the dollar and the positive weekly prospects for the euro. I recall the data on the dollar this week. Let me know what you think. Happy trading to everyone. Forex48 Trading Academy
OANDA:XAUUSDLong
by Forex48_TradingAcademy