We have all seen the run up on gold (XAU/USD), but we've come into a key level of resistance, and just broke an upward trendline to make a lower low (on the 15 minute chart). We also have divergence on the RSI that caught my attention. This is a counter trend trade, so trade with caution and only if YOUR rules are met.
Entry: 1424.50 to 1425.50
This market has had a sharp decline, and now I am expecting a retracement. We just came into a previous demand zone, accompanied with RSI divergence, so I expect a rally likely into the 50% retracement zone. As always, follow your trading plan.
After missing our Bearish Bat entry by a few pips (I was able to find another entry reason to get in later), the market has started to put in a potential bullish cypher formation at a major structure level. I'll be looking to get in with a 50 pip stop. As always, make sure that you follow your rules.
The Euro has been extremely bullish in the recent past, and looking at the EUR/GBP, I am identifying a potential short at structure with a Gartley pattern completion as a reason for entry. Tight stops here due to recent bullish strength. As always, follow your own trading rules, and good luck trading.
With EUR/USD breaking it's uptrend, I'm looking for any opportunity to get short that follows my trading rules. Currently short in this position with a tight stop of 30 pips. A little bit over a 1.5:1 risk/reward. Good luck trading.
Bearish Bat just completed. Looking for a move up to 1.1292 before entering as my stop loss rules do not allow risk greater than 100 pips. This is on the Daily chart, so trade with caution and only if it meets your rules. Good luck.
TP2: 1.0705 (to get above the 1.07 even handle)
Currently at market on potential reversal with good R:R. As the chart shows, we have bullish divergence which meets my rules to get in on this trade. Stops are tight right below support area.
Recently, we've had lower highs and lower lows after a huge rally. Currently, we have a bearish cypher at completion for a short term set-up. Price action could likely rally through the X point; however, I'll be looking to short the SPY for a short term trade. If we break above 2390, I will shift back to a bullish mindset. As always, follow your rules, and trade...
We are currently at market on a bearish bat pattern completion; however, my rules do not allow for a stop of greater than 100 pips. That said, if I can get a move up to 179.50, I will be looking to get short. Looking left we have structure. Stops will be placed right above this zone. Please remember that GBP/NZD has a huge ATR, so please trade with care. Also,...
UNP broke it's upper trendline back in December. After several failed attempts to break back into it's channel, it saw bullish movement. We are now back down to this ascending trendline and price action is finding indecision. Also, we have retraced to .786. I'm eyeing a move back around 110. If price moves down to 102.50, I'll look to exit.