Quite clear stop hunt here below the weekly support. Really unlucky with this trade!
Seeing the rejections from the weekly support after the push into it. This is an aggressive entry with only 1hr TF currently giving us a reason to enter this trade but for a 1:8 it's worth the risk.
A lot going on here, both technically and fundamentally. Any trades taken will look to move stops to entry for risk free trading ASAP given the volatility of election season and Covid resurgence. We cannot control any fundamentals, but we can control our risk management. Firstly, on the weekly we can note the potential wick rejections forming a Double...
We're long now! Closing above 74.60 was key to seeing the Double Bottom validated and not just consolidation and weekly support. Now we've had multiple bullish daily closes (good size candles as well), we have confirmation of the Double Bottom off that order block at 74.20 and are looking for buys to add to our current open position (running around...
The Loonie has been in a strong downtrend on the higher timeframes ever since the March crash. However, we're approaching key MAJOR support and this is where the higher timeframes will be key. We have weekly support but a weekly descending trendline. Which will break first? Only the market will tell us. What we're looking at here, is the Head and Shoulders on...
So we are still within the same structure of Higher and Lower Highs (see chart attached from FRIDAY for bigger picture outlook), however, down on the 4hr we can see a great reversal pattern forming as an Inverse Head and Shoulders here in line with the order block identified. Looking for the right shoulder to form and then we'll retest the neckline and see if we...
Cable is in for another up and down week with brexit and US elections front and centre providing fundamental uncertainty. All we can do is try and take the safe trades possible and here is our buys and sells reasoning. We can see a defined uptrend within the channel here, and we did break above that 1.30 again last week so now, buys are applicable with a push...
So last week we saw finally the break from resistance from EA and almost immeditately dropped to retest on Friday. We didn't take buys as it looked like it may be a false (albeit massive) breakout on the weekly timeframe with the wick spike but we just managed to close above. Now we wait for price action to decide our next move. Any move back below the support...
Clear structure here from the Brexit pair. In a short term downtrend which is about to meet a long term ascending trendline from the March crash. Buys and sells pretty clear here with price stuck between daily support and resistance currently. For buys, we need to break the 38.2% fib area and daily resistance and sells, we need to close below that major...
The Aussie is in a clear downtrend here on the daily with the AUD having a mini resurgence thanks to the strong support at the key psychological 0.70000 level creating a nice Double Bottom! May not be a trade that gets taken this week as more a long term view but buys are only taken with a break of the channel and a push above the key 61.8% level to retest the...
Once again successfully predicted the buys here and where price would reverse. Come back sunday for the Gold what next. Weekly and Daily TF very key here!
Running trade. Identified the order block where banks were buying (74.20) and could have got a much better entry. We did take a smaller intra day trade at 74.25 with a 10 pip stop that hit TP for 6%. Letting this run now it's cleared daily resistance
Again, very choppy Price Action here on UC. Respected the red trendline but also respected the weekly support thus very up and down. Again, can we boast that we predicted the push into support followed by a bounce?
Buys now good above daily resistance! Again no GJ trades this week as we're playing the long, safer game here. Outlook remains the same!
Again, no trade taken because GU was so up and down with no clear direction even above 1.30. However, we have now seen the break and retest of our key level and the buys shown earlier in the week would have seen you take a nice 4% or move stops to BE and be taken out. We may not take an entry next week with GU either. Between Brexit and Election in the US, could...
Reason why this chart review for the week is on the Weekly timeframe is to illustrate that all week this is what I was watching. No trade was taken, just pure patience. We needed to see a break of this weekly resistance, and now we have, we can look long next week to fill that wick! By the way, can I just gloat a little about how I even called the area where...
2 wins and 1 loss this week from Nas! + 4% total. Took 2 sells from break below 50% around 11740, one a long term closed at 2% with the rejections of 11600 and another short term 60 point trade with a nice 1:3 RR that hit TP from 11760 down to 11700. Attempted a further sell on the break of key 11,600 support but got wicked on that. Clear downtrend on 4hr and...
The retest we've been waiting for! Push into the previous weekly resistance before buys just to retest the highs created this week - no need to be greedy and aim higher as originally planned! However, need to see dxy go bearish first.