Please ignore the indicators.
Long Gold purely because this trade war could produce some volatile moves on safehavens like the YEN and Gold.
So I have this idea for a Long position on Gold.
Levels as specified on the chart. But you cant really microprice manage a trade like this, you believe in it or you dont, you risk or you dont.
I like it though!
Trade war = weak USD, YEN is a safehaven currency.
ABENOMICS running out of steam to devalue the YEN.
Risk 100 up from 107
Target 200 below.
Scale in once a daily session is in the money and par/BE is assured.
I am backing this idea with actual trade, short from 106.97, my stops are 95 odd above.
I will update as it progresses.
Between 3900 and 3950 I will go long again on this pair.
I put the 100 and 200 MA and the trendlines in to illustrate the trade idea. I dont actually use TA in my own trading. The price and looking back is enough.
Stops I always play out in three figures because I am essentially hitting a T shot into a multi position trade when I approach a trade idea, so I dont...
This is the way real money would be trading BTC......
With spreads that are equal H4 ranges and Hourly ranges that can spike to daily ranges you can forget your flags, tight stops,
MA's, Stochastics...... and childrens chart drawings.
Research it fundamentally, and believe in it
If you believe in crypto as a good prospect for long then Enter Long...
So this is my Friday set and forget position...
I went off the GBPUSD T box with a small under-leveraged position, and if I am on the fairway come Monday I will think about either pulling out a 5 wood and swing again for down the fairway for more trim, if it really is far down the fairway on Monday by some news and returns looking pretty I will draw my 8 and go...
No TA here. And I may very very wrong here, so not making a call to buy or sell. Market will always keep a successful market speculator humble.
Just speculation on the price as with all my trading.
Now that its in the money, stops at BE and will gear in if its runs further south next week.
Retail will was predominantly Long at the break.
The same pattern unfolds...
Inbetween the 100 and 200 hour MA's. Speculative Positioning waning back to neutral. I like this for a short term trade. EURAUD taking heat as well. I am already short EURAUD from 374. Probably cant trade it though as already too geared into EURGBP short from 7940.