Personally I am not taking this trade; however I would like to see the outcome of my analysis. Looks like a pretty simple setup.
-Trendline retest (3x) confirmation
-Weekly rejection candle
-Would enter at the .50 fib retracement
1:3 Risk/Reward (Conservative)
This is a counter trend trade on the weekly time frame. The higher the timeframe the better the odds....
Market has been spewing bad signals in irrelevant areas. Finally something worth taking (I hope you guys aren't blowing up your account with LQ setups).
-Weekly Bullish Influence
-Fake out (trapped bears/sellers at weekly level *plot on your chart*)
-Break and retest with a powerful 4hr Bullish rejection candle
-4hr trendline break.
Looking at a minimum of...
-Swing Low broken and retested.
-Rejection at the swing low/resistance.
-10, 20 EMA's acting as dynamic resistance.
-Entering at .50 of Rejection candle.
1:4 RR MINIMUM 1:6.4RR MAX.
* KEEP YOUR TRADING SIMPLE, WITH PROPER RISK MANAGEMENT.*
Sorry guys I haven't posting a lot lately. Have been caught up with some personal adventures; I regress...
Taking a long at the break of the bullish indecisive candle. Have some nice confluences pointing towards the upside.
-Bullish breakout of range
-Monthly candle bullish
This can be a trap set by the bears; I do not know nor do I care. Trade what...
Fairly simple analysis, gold has landed on a weekly demand level (Rally Base Rally) with an awesome fakeout that most likely suckered in bears. I am entering at the .50% fib as I always do.
- Daily Support
-Weekly Demand Level
-Under the market mean (20 and 10 MA)
It's all about probability! Enjoy!
This is a wonderful chance to catch some nice profit! Looking at a conservative 1:3 Risk:Reward ratio; I am willing to move my TP to a 1:4-6. Entered at the .50 retracement of the daily rejection candle of the past highs (highlighted in circle). Remember guys, this game is all about probability and simplicity! Enjoy!
This chart is a great example as to why you must remain objective as possible when trading. Trade what you see and not what you think. The current trend is heading downwards, however it doesn't mean we can not catch a reversal highlighted on my chart. Price looks like it's heading towards weekly supply to get more steam; either way profits can be made!
Getting in at the .50 fib retracement. Bulls seem to be defending this support so I will be joining the party.
-Potential Head and Shoulders
-Clear defined Pinbar rejected from support
-7 week bull run
-Potential triple bottom on the monthly time frame
-Bottom of the range
1:17 RR... 1:5 RR MINIMUM (targeting lower high)
With a weekly bias in favor of the bulls. I do not mind taking this trade at all.
-Monthly Bias (Bullish)
-Weekly Bias (Bullish)
-Bullish Hammer/Pinbar off of broken resistance now made support
-Closed above Mean
Looking at a 1:5 RR which isn't bad. If the market decides to push further I do not mind looking at a 1:11 RR.
Short triggered at .50% fib. Looking at a 1:7 RR MINIMUM. Overall target is a 1:13 RR which is completely reasonable considering this trend looks exhausted.
-4hr/1hr Symmetrical Triangle
-Bearish Territory (Zoom Out)