Hello all - DuncanForex here with another trade idea
With GBPUSD cycling higher on the 1 hour chart - although it is against the trend - I am looking to trade it back to resistance.
On the 4hour chart it has printed a nice inside bar and the high of that candle as already been broken.
I am expecting USD weakness now certainly until month end as we head to the...
Hi All ,
If there's no news tonight from NZD i would have Enter this trade using M1 , However Patient is needed here if we want to get good reward .
So let me explain the scenerio here .
First price is stuck at H4 resistance , so obviously a slight pullbacks buyers taking profit before news . News at 23:45pm UK time . if positive we should have a red candle...
I will show you in this analysis how to trade ranging markets before the break out.
After a long time of consolidating we will see a break ot, but how we can trade this and how we find the right setup.
First draw the triangle an the boarder lines of the range.
The border line of the range are the entry points for your stop orders, the opposite range...
At the beginning of this Bullish trend
Big 3 Indicator showed entry point and TP/SL levels
Now price has been making higher highs and higher lows
The green colored big 3 indicator signal shows bullish continuation.
Sup/Res levels are being used for take profits.
Long Re-entry trade
Buy Stop @ 183.00
1st Buy Take Profit @ 196.56
2nd Buy Take profit @ 220.84
Pair is in a range
Price bounced off bottom
Price may move through range and retest top of range
Buy Limit @ 1.3338
Buy Stop @ 1.3353
1st Buy Take Profit @ 1.3370
2nd Take profit @ 1.3399
3rd Buy Take Profit @ 1.3438
SL 10 pips below range bottom
Watch Macd for direction
Void trade if range bottom is broken
Price is in between the 50 sma and the 100 sma
If price drops below the 50 sma in less than 8 bars
Then Sell Stop @124.49
Sell Take Profit @ 124.00
If Price stays above the 50 sma for over 10 bars
Then Buy Stop @ 124.95
Buy Take Profit @ 125.30
SL 20 pips below or above 50 sma
depending of a sell or buy
Watch Macd for direction
The YEN pairs are all setting up for this same move.
EURJPY has a large space to work with and a good Macd to help with the stop
Buy Stop @ 124.97
Buy Take Profit near the 50 sma @ 125.67
If Macd drops below Red signal line close trade
SL @ 124.25
Wath Macd for Bullish confirmation
Possible Bearish Pullback
Buy Limit zone for 1st Bullish trade entry
1st Take Profit take 1/2 trade off @ 1.1376
2nd Bullish trade entry @ 1.1376
Finale Bullish Take Profit close all trades @ 1.1395
Find your SL
Don't trade all three (EU, NU, AU) of these USD pairs
Watch this pair (AU) to make the move back bullish to ma's
If it does it confirms other two trades
EXIT - If AU falls back below range bottom - EXIT.
Market may not have timing right for bullish move yet
If market isn't ready on first move
then be ready to enter long again
on second or third bullish move...
Price broke out of range but failed.
Price stretched from ma's and returning
Macd stretched away from zero line and returning
Buy Stop @ 1.1315
Buy Take Profit @ 1.1366
SL below breakout candle back into range
Price has been in a range pattern
Price may be in a failed bearish range breakout
If price returns back into the bottom range
Buy Stop @ 1.7930
Buy Take Profit is the 100 sma
SL below swing low
Watch Macd to cross above Red Signal line and Zero line for bullish confirmation
I still Buy bias in Gold in this time.
until it lower than 1275.
so I buy small lot at Market price and Buy stop in zone for buy more with Tight Stoploss
If it break down below 1275. I will wait again and will sell again.
Price still lower than 0.7340 I bias in bearish and hope it will run lower in channel and can break down to 0.710
if price heading up more than 0.734 it can buy again.
Trading : Check when market open again for confirm it direction.
Safty trade by wait it break up 0.734 and Buy or
break down lower than 0.7168 for Sell
*** wait until H4 candle close i will update...