Medium Probability Trade But Lets See What The Market Has In Store For Us By Monday
My Setup Still Says Its Going Up [, But More Confirmations Are Needed
Tip For Beginners: Remember We Follow The Market And We Dont Lead The Market
Remember Good Risk Management
This is an easy 300 pips move with a good risk to reward ratio of 1:8
apply proper risk management, enjoy the week ahead
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BTC short term Sell
We just got to the top of the large 4hour moving channel, and we expect a little retracement back to the bottom of the channel.
Also the 45,000$ to 45,700$ is a strong supply/ resistance zone. So we expect a sell so as to collect my orders and potentially break the zone.
Meanwhile the daily still looks extremely bullish
Next week, we...
On the 1H TF, We are currently approaching a sensitive zone of high probability reversal
While the direction from the daily and weekly continues to show a bearish direction.
The higher TF always is our primary direction, this is going to be a nice swing trade. More update on USD/CHF coming up soonest.
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EUR/GBP LOOKS LIKE GOING FOR A SWEET LONG SWING TRADE.
Potential head and shoulder forming,
First tp is neckline and overall TP is TP 2
Another confluence is that the Uk100 index has formed a bearish pattern, all this and more are my confluence for a long trade
Gold potential double top pattern formation on the weekly. This was formed from a very strong resistance.
Rejection pin-bar as added confluence and a break of trend-line on the daily
Personally for me, XAUUSD, is selling both on the daily and weekly and even the 4hrly
This is a beautiful sell setup
Swing to the end, and always remember use protective stoploss as this is one of the factors that gives a trader statistical edge in the market.
Also a very nice risk to reward ratio
This can be viewed as a continuation flag pattern and also a double top (M) formation market
There are pure divergence from the RSI and also a fall out of the ascending channel
All this are confluence that the market will continue falling
In my own opinion shorting dollar index to the 92.5$ will be the best line of action now, seeing that we tested the upper resistant channel line, now to the supporting trendline
