NZDUSD has been going down and now for a couple of days, it's been consolidating. all we want is to see price breaking either the resistance or support to make sure which direction price wants to take. i personally like entering trade on the retest once price breaks through zone.
GBPUSD seems to keep going up but in order to take this trade on a BUY; i would rather recommend that price breaks through the resistance and retest before entering. the reason why i say this is price may start with a false movement to eliminate or lead a lot of traders in the wrong direction before going up.
USD/CAD is basically selling. Even though the dashed line (Important price level) is broken, I would rather suggest a pull back to test that price level and after confirmation go short on it
On EUR/USD we have also noticed a steep downtrend, then a sort of consolidation and we can clearly see price picking up. We definitely have price above our EMA and dashed red line which key level of price. We possibly can say price might shoot up to the Seller zone
We already have gold in an Uptrend breaking the dashed line which is a very important price level. I can personally see a continuation of the uptrend momentum
i definitely suspect the price of gold shooting to my second selling zone before a major drop of price. normally for the rest of the month we should start seeing a downward movement of price. but the on going crisis around the world and the uncertainty in the monetary may affect the price of gold to continue an upward movement.
i would usually take trade during London Session but if the set up comes earlier i still take trades. it's all about price action. i would rather than buying
to be more conservative, we might have to wait for a retest and price action confirmation to enter the trade either on a Buy or Sell. since we have been in a consolidation, we still have to see what direction price would take.
I would enter a long once I see price above the EMA with a strong price action confirmation and also go short once price get to my selling zone. This strategy is not based on trend rather on Buy and sell opportunities.
All you need to do is to wait for price action confirmation to either buy or sell.
-bearish engulfing
-bullish Engulfing
-price exhaustion
-multiple rejection
I generally wait the false movement of market to end before taking trade.the false movement happens during the Asian session.
this strategy is very simple. we can see price moving downward. but at the same time we have to be careful. buyers may take price up to the EMA before dropping. make sure you have a confirmation of price before considering a sell otherwise if candle closes above the EMA there will be more chance of price going up
