Confluence of technicals. Back your analysis and execute
Another solid Risk to Reward setup here. I cannot stress how important it is to have a good Risk to Reward ratio under pinning all of your trading decisions. I always look for 5:1, 4:1 or at least 3:1 reward for any capital I put at risk. This means that even if im performing badly and placing more losers than winners, I'm likely to at least break even or even...
Im already short on the US Dollar through my USDCAD short yesterday, I've since seen some more confirmations of Dollar weakness so am now doubling down on shorting the Dollar. See my previous setup here - We have numerous confluences with this trade idea, broken trendlines being retested, head & shoulders patterns and golden Fibonacci zones. - USDJPY recently...
Simple setup here where the daily price action is showing initial rejection of an established trend line. Volume isnt suggesting enough strength to push through this resistance in the approach to the trendline, inviting sellers to enter without too much opposition. Stop Loss above both the trendline and recent high in order to place two solid barriers between...
We all love a pending order where we can set, forget and collect. Set the order - Pending buy @ 107.700 - Stop Loss @ 107.200 - Take Profit @ 110.00 Forget - We can leave and forget our pending buy with some confidence due to the quality of the setup. This is a straight forward Fibonacci setup on a high timeframe, using a high timeframe adds weight to the...
Simple setup here... there’s a convergence of resistance in this price zone. 1st - Price is at the top of a downward channel 2nd - Price is at a monthly Pivot Point (which has shown rejections for the past few days) 3rd - Price is at a psychological level of 1500. On top of all of this, there’s recently been a strong bullish trend on gold and today’s green...
A perfect short pocketing a quick 2% growth on the account. My entry point is the red arrow and TP at the black arrow. I will show my working below in updates, so you can look out for similar opportunities. This price action pattern shows up time and time again and is a textbook footprint of smart money. This trade signal was sent out in my free Telegram page live - t.me
A significant level of support (20500) is again being tested... The biggest test the level has had so far. Up to now every test of the 20500 level has seen a quick 'touch and go' reaction, where supply has very quickly hit demand (waiting buy orders) and price has bounced away with strong momentum. This time looks very different and suggests that the demand in...
2019 has seen some substantial gains for the price of Oil - Gaining some $23 per barrel in 2019 so far. Fundamental demand has driven this rise, as the US penalties on Iran (a major Oil producing nation) start to bite and reduce global supply. Note these fundamental demand issues have not been resolved yet and can get worse before the global supply catches up...
I've entered a quick scalping move trying to trade a developing range / consolidation. I can see how AUD/USD has hit some resistance and price has decelerated just at the level we can see a broken support level. These two points together gives me the motivation that some quick profit could be made in price consolidating more and returning to the bottom of the...
This trade idea is all about finding the best entry price for my next short on Gold. The trend is clearly defined for us signaling more downside pressure, both in the 1hr chart in the main image and as you can also see in the 4hr chart below. Trading with the trend will always be more profitable than looking for reversals in the main trend. The simplest and...
Going down.... US Stock Indices USDJPY USDCAD Going Up... EURUSD GBPUSD GOLD
If you cannot see the opportunity in this chart then you shouldn't be trading. The most popular currency pair is at crucial weekly support. Yesterday's close confirmed that it has rejected these levels and now is targeting a bullish push. Fantastic opportunity to hold this trade for the coming days or even weeks. There is the chance that we see a push all the...
Ultimately the drawing pretty much sets out the trade idea here. The trade Idea is only valid if the market breaks the level marked below the current indecision. I have taken the aggressive entry as this suits my trading strategy to take opportunities with huge Risk:Reward ratios on the acceptance that I am likely to lose more than I win, but the winners far out...
Typically I only trade the major stock indices when I can see a big move happening. This is because they are dictated by many individual stocks which of course can be influenced by a multitude of factors, so its very easy to get caught on the wrong side of an unexpected move. The great thing with major indices however is that they do serve as great reflections...
Recently I published a short opportunity on Gold where I managed to call the top of the market just before a daily reversal lasting since 20th February (currently around $40!), this Idea offers a high probability re-entry into this overall bearish trend I see developing. The price story as I see it is showing us a big reversal of the overall uptrend that Gold...
This is a trade idea that follows my previous USDCAD trade posted on February 18th that resulted in 150pips profit. We are now approaching a setup that will be able to do exactly the same! So previously we saw a inverse head and shoulders pattern form on the supporting trendline to this pair's overall bullish trend (I have highlighted this in yellow). This...