Gold is supposed to drop a bit further but since it has started a consolidation, it might move upwards to sell at a discounted price which I think might most likely be at the 1H OB which is my potential entry price. The OB is also at 61.8% fib retracement level which counts as an optimal entry. The setup offers a 1:3.5 risk to return. SL and TPs shown on chart....
Had posted this in the morning and it worked out well. TP1 was hit which is 110 pips. That's more than enough pips for a day. If you want to keep holding make sure you move your stop loss secure your profits. There is a momentum bearish engulfing which indicates potential bearish continuation. I published a post on engulfing candles entries and you can use the...
NZDUSD has a breaker block on 15min which might serve as a potential area for the market makers to reenter sell positions. The safest take profit would be at 6382 which would already be a 1:2 R:R though price could go lower depending on price action.
There is a daily and 4H bullish order block at 104.14 and since DXY has been dropping, the order block might induce a retracement to fill the daily volume imbalance between 105.70 and 105.84 which would be a safe zone to take your profits if the setup plays out as explained. Price might also decide to climb higher to fill the fair value gap between 106.08 and...
DXY will most likely retrace upwards to cover a volume imbalance and that's why I think that NZDUSD will drop to also fill a volume imbalance but after first taking out the liquidity resting above the line XX. The setup offers up to 1:5 R:R if it plays out. NOTE: THIS SETUP DOESN'T GUARANTEE PRICE MOVEMENT. USE PROPER RISK MANAGEMENT.
Nasdaq is teasing to sell and at the same time creating multiple lows where many retail buy stop losses may exist. So I'm thinking that it might tap into the below zone then buy from there to the current highs. This setup gives up to 1:3 R:R. NOTE: THIS SETUP DOESN'T GUARANTEE PRICE MOVEMENT. USE PROPER RISK MANAGEMENT
Nasdaq has began a consolidation after rallying yesterday and is teasing retail sellers. I think that it might sell above the highs at 12115.6 because that way the large institutions will take out stop losses belonging to retail sellers and thus acquire enough liquidity to open their large positions especially with NFP coming up. NOTE: THIS EXPLANATION DOESN'T...
A look at daily and 4H shows a long bearish engulfing which is one of the best and most reliable price momentum indicators. This shows that there is a willingness for price to continue bearish. Since price didn't break below the 4H lows at 33630, a retracement is necessary in order for smart money to sell at a premium. Now there is usually a liquidity zone within...
NZDUSD shows some bearish momentum on 2H and 4H so I think it'll continue to drop at least within the earlier described consolidation range. My setup provides an entry on a 5min OB with a 1:1.2 R:R. NOTE: ALWAYS APPLY PROPER RISK MANAGEMENT AND NEVER RISK MORE THAN 2-4% OF YOUR EQUITY
If you took my setup on NZDUSD 2H bullish reentry please exit. Price obeyed my entry zone on 15M but it does not show any bullish momentum at that price zone so it'll most likely drop to go buy at a discount
