Ever see the same things happening time and time again? for me 32trading opportunities here. Let me explain from left to right.
Trading idea 1st move
PURE AND SIMPLE resistance becoming support. With this move we actually had a head and shoulders pattern indicating a change in trend. So we then get the huge impulsive move up... Now im looking for ideally 2 touches of the trend line to confirm price is respecting this as now support. We also get a 382 fib retracement from the previous impulse. As highlighted in the black box, Bullish engulfing candle set up, no wick on the top of that candle close also meaning this thing isnt finished yet. targets, previous lower highs. 229 pips for risking 30 pips.
Trading idea 2)
So we come back up for a head and shoulders on the 4 hr, so we break the neck line impulsively, Traditional targets would of been hit so sellers take profits at that level, Also looking left we have a previous low which this level is now holding. We then get a strong move up and this move actually creates a higher high, then we get the retracement of a 618 fib. On that exact level we get a hammer candle which would also indicate the markets are once again going up. We do and we hit our initial 90 pip target from risking 30 pips making this a 3-1 standard trade.
Learn to read the markets and you can pick and choose what to trade and what not to. This is 2 valid set ups id trade every time.
Trading idea 1st move
PURE AND SIMPLE resistance becoming support. With this move we actually had a head and shoulders pattern indicating a change in trend. So we then get the huge impulsive move up... Now im looking for ideally 2 touches of the trend line to confirm price is respecting this as now support. We also get a 382 fib retracement from the previous impulse. As highlighted in the black box, Bullish engulfing candle set up, no wick on the top of that candle close also meaning this thing isnt finished yet. targets, previous lower highs. 229 pips for risking 30 pips.
Trading idea 2)
So we come back up for a head and shoulders on the 4 hr, so we break the neck line impulsively, Traditional targets would of been hit so sellers take profits at that level, Also looking left we have a previous low which this level is now holding. We then get a strong move up and this move actually creates a higher high, then we get the retracement of a 618 fib. On that exact level we get a hammer candle which would also indicate the markets are once again going up. We do and we hit our initial 90 pip target from risking 30 pips making this a 3-1 standard trade.
Learn to read the markets and you can pick and choose what to trade and what not to. This is 2 valid set ups id trade every time.