Basic demand and supply, re-test of supply area before melting towards where it has to melt Let it roll, simple and stupid
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,...
Nothing unusual, after news 2 days ago from JAPAN in the big recession it came to test the highest supply area. It was rejected, I entered this trade, it re-tested the entry over this night and now it's going down slowly as CADJPY always do. This is my patience game with nice R:R
I've been riding GBPUSD all the way down since 1.26100 Not much to talk here, zone to zone, simple and stupid.
Watching FIB Golden Zone 38~50% to enter the trade. By the candle formation I could enter a sell already, I would just wait for the next candle actually. But no rush, I want clearly confirmation. If it breaks below my fib levels I will sell and catch those pips. I need to be carefull because Japan is in great recession.
USDCAD tested and re-tested a support from March before all the pandemic kicked in hard mode. It's trading inside a falling wedge, it looks like it's going to re-test the resistance inside the pattern at #139.986 for the last time. But also there's big possibility that it doesn't even test this area as right now it's trying to break the resistance on trend level...
Gold is Trading sideways at the moment, monday and tuesday we had the biggest volatility percentage in May. Fundamentally speaking due to speculation on the stock markets with J. Powell speaking effects haha. I'm more of a long-term on this. I expect Price Action to cause selling pressure, you can see that on 4h chart and and if it starts to go down on daily...