I entered this trade today in a nice area. I consider this a risky trade since fundamentals are in play level hard these days. Take the risk or loose the chance, usually I enter with 1% risk in my positions, this one I entered and nailed it risking 5%, took partial profits cuz I'm waiting for market manipulation and the trading is running now at 2% risk
If the fundamentals don't go hard on this phase we're living right now, this will be a simple zone to zone getting USDvsCAD back to his demand zone and below.
I'm just checking this pair, I have my alerts to see if it will break or not the downtrend channel resistance.
Let's see if wicks don't lie.
I'm in this trade since 8:37pm (GMT), went to bed and the price was being very disputed in this area between buyers and sellers, a.k.a we always have a little bit manipulation, the liquidation game.
It was in profits during the night for a while as I've checked the candles in the morning and now it's bouncing.
If I'm reading this...
I'm waiting for this setup on gold.
This week has been a slow week for me, few entries, not forcing anything. I will leave this SELL LIMIT order and see how it plays.
I could use a tight stop loss, but this is gold and checking the past there's a few wicks going up, stop hunts, liquidation spots and well...let's sit and wait.
Took 2 small losses on gold today. But the market has no sentiment and we shouldn't as well when trading, it just show us opportunities.
I would wait but I trade what I see and re-entered again in this area that has been respected a lot as support, besides thinking in gold on the long run and the worst time ahead that we will face, there's a "Truman show" going on...
Got out of the trade I posted yesterday with nice profits overnight for these reasons here:
- I have a rule which I use as a joke at the same time, I got from Marvel- Iron Fist(Danny Rand). It's a saying that is true, and being in the army years ago, when it comes to be disciplined I'm a robot with no emotions pointing and shooting, executing as soon my "sixth...
Price is looking to re-test the support line at 38.2% FIBO and then on its way up towards 1.26000
I have a pending order at 1.22939 waiting for this confirmation.
Let's see how it rolls, GBPUSD just broke through a descending channel from weeks ago and now it's aiming to re-test the resistance at 1.26000.
Looks like it's going to be a long journey
The trading is going as predicted. J. Powell will speak later on today and it may cause some volatility.
Still, I entered this trade at 1753 and already took profits on my first target and still waiting to hit TP 2 at 1715. Nothing beats the feeling of a TP hit, it's a game of patience.
If you plan it well with a good risk management gold can bring nice profits,...