EURAUD H1 - This pair tried to bounce off support yesterday, but quickly round resistance at around 1:1.3, following protocol this would have been risk free. Still flirting between that 60 pip range, markets are fairly flat at the moment, looking for something to spice up today. Not masses on the economic calendar, but hopefully we can find something that moves...
GBPCHF H1 - Lower timeframe analysis on GBPCHF, double bottom on support, key support zone as indicated with the white horizontal line, this is the start of the 2 stage reversal! Those that have got the advanced course, keep an eye on this! This would effectively act as the confirmation for this setup for intraday trading.
EURGBP H4 - We saw this bounce from support to resistance over the course of last week, market gapped down and then retest that 0.91 handle nicely. We covered this in the weekly watchlist video posted yesterday, strong GBP gains as we kicked off EUR and LON open!
SOMETIME I CAN BARLEY READ IT. LOL. I NEED TO LEARN HOW TO USE MORE INDICATORS AND TECHNICAL ANAYLISIS!
AUDUSD H4 - This pair is well underway, arguably breaking above the monthly key level and previous resistance low. at 700 price. If we can keep gaining I feel we may reject 0.71 and pullback to 0.70688 to gear up for a break or the next zone upside. Trying to tie this is with DXY support/weakness.
EURGBP H4 - Finally seen a break and retest of this 0.91 handle, looking to see if price holds above as support. A pair which is going to be heavily influenced again by risk events/brexit/trade talks.
USDJPY H1 - Eventually broke that resistance price of 105.420 yesterday, looking to see a market correction to test that price as support again, another really good RR setup. All of the above range from 1:5 to 1:7
AUDUSD H4 - Again another zone break at that monthly key level of .070688, consolidation broke upside, and then downside more significantly. Looking to find support at 0.70200 ish for possible longs up to 0.72000 again, areas of possible resistance sit at monthly key levels and previous flag consolidation
HMMM. I'M LIKING THIS MARKUP I'VE GOT GOING. ~NEW FOREX TRADER.
RISK MANAGEMNENT RIGHT?? DON'T TRADE BASED ON EMOTIONS RIGHT?
If you followed the last week plan you are in big profits, looking to add another entry today after market opens adding lots as price goes down.
Continuing from last week's plan, I expect gold to drop down. There will be some risky buy opportunities but overall the price should be headed towards the fall out area. When market opens look for a nice spike in prices or just do a buy stop at 1895 if you want to have a lower risk. Look at my last week trading plan on gold as well.
We can see price previously made a lower low, i am looking to go short upon a lower high, however i need a confirmation candlestick to confirm my short entry. A wick to the 50EMA then rejection down to the 61.8 could look likely...