Looking for an entry within the next couple of days, considering that this is a metal, my stop is fairly tight 200 pips stop lol. However, after carefully taking steps to understand how markets fluctuate, at premium zones, I've decided to make my potential last trade of the year on xpt/usd.
There are no fundamentals behind this...this is pure technical, lately...
USD/Chinese Yuan has been showing dovish signals during the 3rd qtr and after the news on July 12, 2023 (which can be located on the blue location tab) the economy shows to be slowing down significantly.
After news printed on the 12th of July 23, price made a clear decision just 4 hours later we can start to see some clear institutional movement with the dovish...
It's been a while since i've posted an idea and I'm currently revitalizing my strategy everyday tightening up exactly how I trade this market. Protecting my account, Not over Leveraging, Keeping a healthy account is what I'm striving for. I currently work graveyard shift and i'm looking to find a way out. I know this will take time and I don't want to put myself...
1772.5 will be my area of interest for a buy...I will be following my trendline back toward the 1840 area for exit strategy or possible contiuation.
Let me know what you think in the bio...this could be my last trade of the year. Wish us luck 🤝
chefski pull back over???
I like the chances of a strong up trend coming soon, 38.2 retracement strong impulse coming...
Orange Resistance will be my final TP while takong minor trades from current supports
I know its a lot but necessary for me to know whats up.
Monthly market has been creating HL's with a strong support being held.
Weekly tf also creating HL's and HH's as of recent
Daily tf shows good retracement
1hr tf broke trendline also created inverted H&S at support level for signs of buyers coming in
This is what I'm expecting just based off the monthly...
Looking at the weekly timeframe you can cleary see structure has formed and is giving obvious bullish momentum.
We are only looking for buys in this market.
As this will be a long term hold for me and I will be following structure the entire way up.
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Classic break and retest on the daily time frame...Can't wait to see how this move plays out. I literally set the stop loss just above the 5 min wick because I don't see this move breaking out of this area. if it does aye so what....proper risk management is essential.
Big pip energy!