Magnatrio

Magnatrio

Consistency is key if you want to grow. Follow your rules. Even if it so happens you get stopped out, it will be easier when you followed you rules. I dont focus on the money. I focus on two things: my risk/reward ratio (1:3 and above) and the number pips. *Disclaimer* This is not financial advise. Forex Trading is a risky business. Trade at your own risk....

Magnatrio

We previously opened positions on GJ and are still holding but profits locked. Price has rejected the 38 (and I have confidence in a drop from here mainly, not solely, because of the adverse results retails sales. Also, (as a Fibbo tip) when price has so much momentum, it is MOST LIKELY to retrace only to the 38. My second position's risk will be covered by...

Magnatrio

Dont try to predict the market. Rather, prepare. Create potential scenarios or outcomes and how you will react to the market in those different instances. This will hep control your fear and uncertainty thus, giving you confidence in your trades. I cant give out exactly how I enter trades but I would advise you to have a minimum of three confluences convincing you...

Magnatrio

This is my current outlook on UJ. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Practise proper risk management and patience. #TradeLikeMagnatrio

Magnatrio

The original Setup and outlook will be linked below. This is how the trades are going so far. Currently running risk-free trades.

Magnatrio

*Disclaimer* This is not financial advice. Forex trading is a risky business. Exercise proper risk management and own discretion. #TradeLikeMagnatrio

Magnatrio

I have been holding since last week. Patience and proper risk management. *Disclaimer* This is not financial advice. Forex trading is a risky business. Exercise proper risk management and own discretion. #TradeLikeMagnatrio

Magnatrio

In our previous analysis we mentioned that a break out of the falling wedge was imminent, if price failed to give us opportunities to go short. Price has indeed broken out. We are expecting price to give us one of the following in order for us to go long: 1. Wedge resistance retest and continue up, Take profit as marked on the chart. Price action will dictate if...

Magnatrio

Sell positions will be triggered upon trendline violation. Mind you this is a weekly chart. *Disclaimer* This is not financial advice. Forex trading is a risky business. Exercise proper risk management. #TradeLikeMagnatrio

Magnatrio

If I get stopped out, that woiuld only mean price wants to test the other golden level. My confluences had all lined up. *Disclaimer* This is not financial advice. Forex trading is a risky business. Exercise proper risk management. #TradeLikeMagnatrio

Magnatrio

*Disclaimer* This is not financial advice. Forex trading is a risky business. Exercise proper risk management. #TradeLikeMagnatrio

Magnatrio

Price is clearly in a falling wedge meaning a bullish reversal is imminent, overall. But scaling into price's current movement, I had anticipated a third touch on our resistance trendline, of which price did give us. Not only that... we also got this touch on the 78.6 Fibonacci retracement line, which give us a more stronger bias about our anticipated short...

Magnatrio

I usually use the AUD strength as a directional bias for Gold. I am anticipating price to be in replica on XAUUSD too. I am waiting for a rejection in the golden area of the Fibonacci. When all confluences line up, take short entries and target the -61 extension. Depending on price momentum, I may target the 1750 key area for Take Profit. *Disclaimer* This is not...

Magnatrio

Our mirror line (orange) clearly shows us that price has been in replica. Price is currently creating a rising wedge towards the 61.8 Fibbo line and our trendline. I am anticipating a third touch of our trendline, followed by a drop. Price has already rejected at the 61.8 and may still drop anytime now. A clear break and close below the wedge will trigger short...

Magnatrio

GU is generally in a down trend. We witnessed a reversal at a key psychological area (1.36000), and our intra line was violated following an EMA crossover, confirming a change in direction. Price broke above 1.37000 (another key area) and is currently in consolidation. Price has already tested and bounced off the 38 Fibonacci retracement level and is creating...

Magnatrio

Just a quick heads - up... If you love trading gold, I urge you to pay attention this pattern (Bullish falling wedge) all the time. Especially when there is a divergence forming with it. The pattern is much clearer on the H1. I will be looking for long positions. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own...

Magnatrio

Price seems to be continuing to replicate its previous bullish trend structure. I will continue to hold. I am anticipating that price will break out bearish from the current correction phase. If you can take a look at the up trend structure, price formed a correction around the same price zone. *Disclaimer* This is not financial advice. Forex trading is a risky...

Magnatrio

I actually have two possibilities with regards to the imbalance we have there (blue square)... Some how that area needs to be balanced. This is my first sell bias. I will look into more as price continues to move (Especially after breaking out of that correction). I have a strong believe that NFP is going to be negative tomorrow. But we will see.