Marked the chart on HTF, visualised what price will do today and executed just as planned. Close early because aforementioned reason + entry was not the best to use as buffer for SL.
More advanced move in my opinion. My daily bias was bearish but I took a long position anyways, because the narrative that I have given to the price action makes sense, + the setup has good potential to it. Always try to give price a story, hinging it to story allows for contexts, price action and time to be properly taken into account.
Continued volatility from yesterday, lots of news going on = more price movements = hold trades longer. This is note to self. But please do take my shortfall as a lesson for yourself too! HOLD TRADES when volatility is present and there's a good range for price to move.
Experience played a big role on deciding to enter this trade. It was based heavily on the fact that structure held like a king. And I knew that the nature of gold is that if you miss the entry, you are likely to miss the whole move, so I had acted on it and it paid off.
Simple trade, there was a bad range, but due to how price was printing, with strong enough volume in the momentum, it will usually bypass barcode ranges. Lesson of the day is to always, always know if you are trading with volume or no volume. Use candlestick anatomy to determine. Forex is decentralised unlike stock exchanges, no volume indicator will truly...
Strong momentum on NYSE open + fakeout was the core narrative to this short. I had marked my hard target to be 3:1RRR but wasn't comfortable holding it so I closed at 1:1RRR. Note to self: momentum = hold the trade, trust your analysis.
Labor day, not the best day to trade, but I saw LL LH being formed since the open, plus a lot of confluences on the HTF which narrates a high probable chance that price will move lower today if it starts breaking the daily low.
Key narration to this trade is how price is reflecting the same movement as last night. Same time, same initial move + breakout confirmation and LDN range.
XAUUSD LONG Gold has been on a consecutive Break and Retest for the past weeks. as seen on the daily structure. My anticipation of this Long position is based on that foundation. Coupled with a fakeout on the previous day (from my zone), the long wicks and orders from last night has to go somewhere. And it is most likely going to head up to tap the 4th August...
Monthly is closing in 2 days, I'm anticipating that price would close below 1.37777 level. This puts my HTF bias bearish. In confluence with Weekly, price closed at the key level on my chart, rejecting to push further up, adding to the overall story-telling of mine. On the LTF we can see that price is relatively bullish in structure which contradicts with the...
LONG 1. HH HL market structure 2. Trendline rejection 3. 1H breakout of range (Entry confirmation) 4. Potential wickfill on 1H candle 5. Bullish MAs 6. Strong rejection off 149.500 level, always multi-days impulsive push AGAINST 1. HTF Bearish structure 2. Technically hasnt broken 4h Market structure... Closure above 151.300 would signify proper break of 4H...
SHORT 1. Price looks to be retesting the resistance @1.25539 on the daily timeframe. 2. There's a previous rejection on LTF as well, of which most recent price wick closed below the previous signaling strong selling pressure, and exhaustion to the upside. 3. 2pm Ldn open, anticipated strong influx of volume to push price towards directional bias. 4. Bearish...
LONG ENTRY: 1. HH HL Structure on LTF 2. Multiple rejection of 1777.222 level the past week 3. Break of trend-line 4. Break and retest of sub-minor support as seen on yellow zone 5. 4h strong bullish candle, hinting shifts in market sentiment Confirmation Candle: Bullish Engulfing Stop Loss: 30m Moving Average crossover + below sub-minor support highlighted in yellow.
+1% / risked 1% LONG 1. Reversal variation Pattern on 15m 2. bullish EMA 3. 78.6 retracement with respect on 61.8 4. HH HL structure on the LTF 5. Weekly Level of 149.632 has strong rejection in the past. Expecting similar behavior on current price action 6. London open, anticipating volume to push price x2 positions closed because Weekly looks to be bearish. I...
+0.8 of 1% Trading based of the fact that we got a 30m closure above all the wicks, which generally implies buyer's willingness to push to the price up (rally). Hercules breakouts are setups I like to call when there's multiple multiple rejections of a zone and there's a breakout of it.
Always have a bias when looking for setups. For me, it helps weed out bad trades, things like fakeout can occur if you do not have a bias for the day.
REASONS TO SHORT GBPUSD 1. Bearish EMAs 2. Break and Retest on 4h 3. Rejection off 0.618 retracement 4. Daily strong bearish candle with long wicks 5. Clean range until 1.13736 6. Market structure forming LH LL 7. Bearish EMAs crossover on daily
+1% Entered using the 1h timeframe, 15m was a bit icky but, if you just let the HTF do its thing, it'll usually work out :)