Gold jumps to hit our take profit – Are you ready for next tradeInvestors will also be looking for the U.S. economic events like building permits, housing stats, and Philly Fed manufacturing index to determine further movements in gold. In case you don’t know, the dollar shares a strong negative correlation with gold. Therefore, the positive data may drive bears in the bullion market today. Refer to Fxleaders Aug 16 – Economic Events Outlook for more understanding of trading these events.
Trade-ideas
AUDUSD / 1HR / POTENTIAL BUTTERFLY PATTERNBUTTERFLY PATTERN
PAIR: AUD/USD
TIME-FRAME: 1HR
TRADE: BUTTERFLY PATTERN
There has been a lot of strength on the AUD/USD
for those of you whom are following this pair. Here we
have a potential Butterfly pattern setting up if support holds.
NOTE: These are potential trade opportunities. Please
re-analyse the trade before executing.
Star Prosper
Philip Stewart
WEBSITE: www.StarProsper.com
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Trading Plan for next 2 weeksTrade ideas are based on my anticipation of an inverse head and shoulders.
This should atleast help gaining some orientation for price action and time windows.
Make sure to check out my other charts for more information.
Feel free to leave comments or questions bellow and upvote this chart if this is usefull to you.
Cheers : ]