Zone
GBP/JPY END OF THE ROADGBP/JPY has gone way too far and I think its time now for a reversal trend. This pair has formed a nice double bottom on 127.000 crucial zone with a really nice pin bar on daily signaling a strong reversal. My order will be triggered once we break through this minor zone highlighted and that will be the signal of a take off. #tradesafe
Consolidation playAMD looks like it may be a good consolidation play. I may look to enter short once it reaches the red supply zone I drew. If it does not reach the supply zone and end up breaking out below, I will wait for a pull back up to the consolidation support-turned-resistance line, and short it from there.
For me, this would be a straight technical play because I do not know much about AMD fundamentally. Which, is a little bit outside my realm, because I like to mix technicals with fundamentals. However, an opportunity is an opportunity!
AUDCAD LongSaw this double bottom form on the daily at a big demand zone and waited for the structure to break.
The I went long - pretty simple. Now let's see if it works!
What I haven't mentioned in earlier trades is that I typically cut my losers quick if they start going against me. Let's see what I do with this one.
SPY intraday Play off ES zoneES still in the zone from post yesterday. No breakout yet. Although made for an excellent PUT play on SPY entering right at market open and scalling in on ema rejection. Hit the bottom spot on for thee easy sell. We see our EMAs never broke bearish below the 89 day ema trend. Looking rangebound for now.
CADCHF - Supply Zone SELL 4H This idea is based on my understanding of order flow.
A significant drop allowed me to define a supply zone where open sell orders are left over (red zone). After the drop , the price has recovered in a compression zone (Green zone). The compression zone ensures that in this area, where the price is slowly rising, the buy orders are "eaten up" piece by piece.
If the price moves up to our supply zone, we can expect a pullback as there are still open sell orders in the zone that are now triggered.
I am looking for my target on the last demand zone which is exactly before the significant rally. Thats good for the idea!
If the demand zone after hitting TP breaks, we can go for the second target. Important: Only if demand zone breaks!
Due to our compression zone, in which almost no buy orders are now placed, we can assume that our second target can be reached quickly at the beginning of the compression zone.
Infos about the Trade:
Entry: 0.7526
SL: 0.75605
TP1: 0.73903
TP2: 0.72659
Risk: 34.5 Pips
Reward TP1: 136 Pips
Reward TP2: 260 Pips
Risk/Reward ratio: 3.94
Use proper money management!
I recoment to risk max 2% of your entire balance if it hits SL.
Happy trading!
I'll keep you up to date and give trade updates. Stay tuned!
Update Gold for follower that ask me in pmHi
I have many pm so I would like to summanry in this idea.
As I have early priate idea that have old entry around 1496 , 1528
If you still keep this nothing to do because I think you partial close and let it run as it can go.
What 's next !
I see daily chat .
from 1160 it have big move around 3 step and now in step 4
it move around 1600 - 1300 -1000 pips
it is decreasing if i calculate to forcast next move . It should move around 700 pips ( 1557-1568)
Yes, If I am right This move will go around 1557-1568
and will retracement again and check direction again.
Now we near supply zone in weekly timeframe ( gray zone)
It may drop sharply or hugh Break up.
Nothing is 100% sure ,Only good money management can help you survive.
Yes It is only my opinion . but what to do it is depend on your account and strategy.
Hope it may a little bit help.
Trade with cauton and don't forget to protect profit.
Cheer,
Theo.
EUR/GBP - Short retrace back into S/R zone before new leg downEUR/GBP breached a strong support & resistance (S/R) zone in one H4 candle. We can therefore expect price to move back into the zone due to some profit-taking on a Friday, as well as the larger money increasing their position before pushing price lower.
Look for price to move into the 0.9050 - 0.9100 zone before continuing its descent. This would be a favourable trade opportunity, as if price breaches this zone in any meaningful way then the market has invalidated the downward movement.
All the best.
DD