KingWenz84

KingWenz84

So this one is on the risky side but this support has held for the past 2 weeks so I am, with small lots going to test the long back up to resistance, and another test on the trend line. I expect it to continue going up to tap the top side of the overall bearish channel which can be seen more clearly on the daily TF. As I say it's risky so if you do take it watch your RR.

KingWenz84

So following the news yesterday we had a nice bounce from the major support level which I have been waiting for. I see this turning bullish for the foreseeable future. I got one 1:3 R trade from it yesterday and am hoping for another one today. We do however have high impact news on the $ this afternoon which should move the markets again. Give the news yesterday...

KingWenz84

So this has reached the upper resisting trend line and so far as rejected nicely. This should come down to to at least test the top of the descending channel which it broke out of. when it reaches there it will be a key point as to whether it will bounce back up and most probably then break the upper trend, or continue bearish to the next major support.

KingWenz84

So in my view gold is bullish for the moment. the lower supporting trend on the high HF has been holding well so some time, and we have broken resisting trend which should now turn support. I think there will be a move down to test the support before a further bullish move.

KingWenz84

So you will see that we are bullish on the intraday TFs. We have broken and come back down to test this resistance turned support. This has given us a good entry for the long with a decent RR.

KingWenz84

So this pair continues to look bearish, you will see the lower low followed by the lower high. I entered this trade this morning on my normal 1:3 RR

KingWenz84

So I have taken 50% from the 1st trade and set stops to entry, but after the news this morning we saw a nice pullback which has given me another entry for a 1:3 RR trade.

KingWenz84

So this pair has finally hit the resistance level I have been waiting for which is also the top of the ascending channel. I am going for a 1:3 RR, however I do see this going to the bottom of the channel so there should be more than 1 trade on this move.

KingWenz84

So, this is part 2 of my idea just posted on this pair. we will see we have spiked down to touch the supporting trendline which gave me my entry into this trade. This trade in my standard 1:3 RR, however I see a further bullish movement to there should be more profit to take from this as it goes up.

KingWenz84

So, I don't normally trade this pair however for me this is a high probability set up. I will post this chart then followed by one on a lower TF to see in more detail my thinking. I feel like you need to see the bigger picture on this to get where I'm coming from.

KingWenz84

So, this pair looks like it is creating a bearish wide channel. There appears to be a nice rejection from the top of the channel so my plan is to take this down to the major support.

KingWenz84 Updated 

So this seems to be making an almost perfect IHS on the Daily. On the lower TFs we are still looking like the pull back is not yet complete so we may go a little lower before bullish bounce. I have not entered yet so the position is just for reference on this idea. I will be watching this on the 15m TF to get my entry.

KingWenz84

So this Pair is bullish on the Higher TF, on the intra-day TFs we have been consolidating between this strong resistance and this and ascending support. On the high TFs we have broken out of the longer term consolidation and re-tested, this is a good sign for a further bullish move.

KingWenz84

So I am long on this pair just like GBPUSD. We have broken the strong trend line a look like this will continue to go up to the shown area of resistance (at least)

KingWenz84

So I am bullish on this pair. We seem to be trading within a bullish channel of the higher timeframes. DXY is looking bearish which supports this idea. We may see a push down to touch the shown broken trend line, however the resistance level has been broken, tested and seems to have turned support.

KingWenz84

So this is a simple idea. We are clearly bullish, we have come down to local support to create a double bottom. So I will long this with a 1:3rr

KingWenz84

So this pair broke out of the decending trend line and has now come back down to test this line which has turned support. This area also coincides with previous support.

KingWenz84

So this pair loves this pattern. We have now broken out again so I have entered again. I would expect this to act the same as the last break out, with a re-test of the resistance turned support. I think this has got a long way to go befor it reverses.