Magna_Riqueza_Divina

Magna_Riqueza_Divina

We are still patient and holding this last position. The original setup is linked below *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial. #Trade_Like_A_Magnate

Magna_Riqueza_Divina

Things didnt go exactly as we had hoped but the result was the same. got our breakout. Now what I will be wating for is a retest or a break of structure. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial. #Trade_Like_A_Magnate

Magna_Riqueza_Divina

The Weekly timeframes shows us that GC is currently trading in a falling wedge, following a very impulsive drop. This could mean sellers are losing their steam (long-term). A further analysis of the D1 and H4 shows us that price had an impulse move up from the weekly support trendline, and is currently in a correction phase. I will be looking for opportunities to...

Magna_Riqueza_Divina

The weekly chart shows price to moving within a widening rising wedge. Scaling down to the D1, price is also trading within a rising wedge. I wend down to the H4 to make an even thorough analysis. Here I found that price had made a very impulsive move to the downside. This was followed by a correction which clearly broke to the upside. On the H1, a correctional...

Magna_Riqueza_Divina

Price is currently trading within and continuing to form a decending widening wedge (which still hold even on the D1). I made a further analysis on the H4 and foound that price has formed a decending widening wedge too. We are currently nullish from a second resistance trrendline touch. I believe price will continue long until it gives us the third touch on the...

Magna_Riqueza_Divina

Price formed an order block (after Manipulation) at a retail resistance zone and, and made an impulse move in favour of the bears. We see that the slope of the down trend has changed signaling a change in momentum, to a more smoother trend. Whilst at this, price seems to be forming a bullish falling wedge (this pattern signals an imminent reversal to the upside if...

Magna_Riqueza_Divina

My analysis on this one is based on a Smart money concepts that some retail traders hardly ever use. We have a retail support zone that was violated (Manipulation), and resulted in us having an Order Block. I scaled down to the H1 to properly identify the Order block candle. price has since been bullish. Ideally, after an Order Block is formed, we expect price to...

Magna_Riqueza_Divina

Looking at the weekly chart, UC is generally in an uptrend. We also see that price is moving between two trendlines, thus forming triangle pattern. with this pattern had been falling from mid-March until the movement came to an end when price reach the support trendline where price showed signs of a reversal. The reversal was confirmed not only by candlestick...

Magna_Riqueza_Divina

Looking first at the weekly chart, GU is most likely setting up to form a Head & shoulders pattern (also on the daily). Scaling down to the H4, price has been in an impulse phase (thus forming the weekly''s right shoulder). Price is currently in a correction phase (bullish flag). Therefore, I am expecting another impulse to the upside, which will be followed by a...

Magna_Riqueza_Divina

Looking at the weekly timeframe, GJ has been in a flag correction since the beginning of May, following a very strong impulse from mid March this year. Price has given us 3 touches on our resistance trendline confirm that price is respecting it. price has since fallen off this 3rd touch (as seen on the chart above). We were in a correction phase until price broke...

Magna_Riqueza_Divina

We have seen this setup multiple times today and this past week. Its the same setup I used to profit off XAUUSD, USDJPY and USDZAR. My assumption is no different because price is setting-up exactly as my entry criteria demands. We see price is at a key level, Momentum has slowed down forming a sloping correction (but the RSI is showing us a Bullish Divergence -...

Magna_Riqueza_Divina

US30 has been consolidating for about a week now (roughly similar ranges). It has been using the same reversal patterns when in ether zone. I will be looking for Long entry opportunities (preferably a double bottom or Inverted Head and Shoulders) on the M15 and M5. I will want to see the close of a green candle after rejection, then hold for the rest of the week....

Magna_Riqueza_Divina

Your entry criteria is also your reason for exit. Luckily, our TP was hit and immediately, started forming a falling correction. If this forms in a downtrend, 90% of the time, price is going to reverse. My second confluence is the divergence on my RSI. My third confluence is the 8 & 14 EMA cross over on the M15. Another confluence is the trendline violation. So...

Magna_Riqueza_Divina

Looking to make another sniper entry here.... then scale in. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are always key #Trade_Like_A_Magnate

Magna_Riqueza_Divina

Dont rush the market. Let price come to you. Allow your setups to build. When your confluences are all aligned, open your positions. I am currently waiting for price to break and retest the trendline. An earlier entry was missed, but that means no harm and this current setup was meant to be my second entry. *Disclaimer* This is not financial advice. Forex...

Magna_Riqueza_Divina

We are eating. Its always good to start the week like this. Sets the whole mood of the week. A simple price action strategy. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are always key #Trade_Like_A_Magnate

Magna_Riqueza_Divina

This entry was simply based on the trendline violation principles. of course other confluences had to be adapted before making an entry. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are always key #Trade_Like_A_Magnate

Magna_Riqueza_Divina

As anticipated last week, USDZAR did go for a trendline retest, gave us a rejection, we made an entry and held. This is the progress now. Profits have been locked in order to have a risk-free trade. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. #Trade_Like_A_Magnate