Potential trade set ups for the next few hours.
Just set ups I have been using this week respecting areas of interest. Impressive trades this week. Long may it continue
Description on chart for trade plan
This trade is a re-entry at a better price after the earlier trade closed at break even after banking 6-10 pips. See Weekly chart view posted for explanation on why this trade was taken
description on previous weekly chart
Looking at the weeks support level that has been created we are looking for a further push back up in the London open and NY open. Very small stop loss in case this level is broken, small target of 60 pips,
Break of 122.000 and ranging area on 15 min chart. Entry with Sl at previous 15 min break candle body. look for Tp 1 close % of trade and move sl to entry (+30 pips) prior to the heavy area of traffic to the left side of screen. allow runner to attempt to break to TP2 / 3
Looking for further downward momentum today, nice break of range and signs of further momentum. GBP is in poor shape currently and on higher time frames we have no reason to believe this is near the end of the new lows.
I have a full bullish bias on Gold currently no confirmed direction change at this current stage. I am not placing this trade yet but this is an example of a good set up using this method that may be valid in the coming days. Also this is how I plan my days / weeks ahead. no indicators just look at what you can see on the screen and understand how your opponent...
Possible plan for sell stop order moving down. Still a very bullish market so not advisable. For the risk takers out there.
As discussed live on the stream we called this gold move after awaiting a support creation. come and join us for free education, chart assistance, questions answered and above all watch how we mark up charts and trade live.
Trade entrys using previous zone support / res. Down trend GBP is it trouble with no sign yet of change. interesting to see after todays CPI results who this will effect this pair
Use Previous resistance as possible new support areas. Wait for support creation and look for further buys
bullish momentum. Ranging area, looking to fill the previous weeks candle wick at minimum. good risk / reward
Now closing Daily above the 1.81000 level we look up to new highs or at least to maintain trend upto TP 1
Support Zone broken, awaiting a retest and rejection from the blue box zone. if so we shall be looking for SELL options