GA looks good to drop from where it is now. A simple break in market structure after some buy stop triggering
Here we have a textbook example of consolidation aka sideways trending. This is made clear by the triangle pattern before price broke out this morning. Following that we've had the break of a swing low (by that I mean a candle that reached/wicked lower than it's neighbours on either side). The spike that broke out of the sideways trend to the upside triggered...
I'm already holding GBPAUD short but it seems like a good opportunity to invest more has come up. There is a broken demand zone that may be used as a flip as price comes up to trigger some buy stops at the high points of the last few H4 candles. The potential reward would be worth the risk so I'll put in a pending order to go short at the m30 flipzone.
GA is in supply and at a discounted price. What do you think?
I like to share my analysis as a way of keeping myself sharp The idea that someone else might take the same position makes the analysis more careful Every trade comes with risk but with mine the potential rewards always make it worth it I typically keep risk between 1 and 2% of the account
One of if not my favourite pairs to trade as you may have noticed Looking at a textbook set up from a manipulated zone that I drew on the h4 The zone was a promising area of demand until it was broken. But now price has broken back above it and is retesting
What do you think of this on UCHF? I'm thinking they may come for those daily lows before using that original zone as demand for a big climb 🤔
Detailed analysis : Gold has been forming higher highs and higher lows for a while until now. A weekly supply zone has caused some institutional sponsorship that has broken the trend, indicating possible short activity. This would be in line with the macro harmonic patterns we are currently seeing in which the market appears to be looking for some yearly lows that...
Following the trend on EU and looking to go short now
AU may decide to return to this area of demand before going long. As always, it's not about how much you win, but how little you lose.
If this triggers as planned I'll be risking 1% and aiming at September's high. Expecting 20:1 reward to risk.
My analysis is purely technical. Risk management is always the key.