Trade not going as i envisaged so lets protect the profits we made on TP1 and put our trade on risk free. We can always get back in if the structure comes around.
After and almost parabolic drop since 25 November we are seeing the 1st signs of recovery,or rather retracement. Yesterday's engulfing candle indicated that bearish momentum has temporarily stopped. All things being equal we should see a retracement to the 212000 zone. Entry: 204122 SL: 199561 ( Slightly below the lowest point) TP: 211990 ( Slightly below...
Okay so remember when we started this trade we put in 3 contracts, and we quickly reached TP1 (see attachments) and banked about 22 points? The other targets TP2 (50 points) and TP3 (78 points) remained open. A few days later we put our trade on breakeven and price started retracing back towards our breakeven level. Today's close was significant in that it...
The market invalidated my theory of a market structure change on this pair. So i take the lesson given to me and add it to my notes. Lets dissect why the market rejected my thesis. When i look at it in retrospect i marvel at the simple message the market was trying to portray on this pair. I analysed on the H4 and made conclusion on market structure on H4 which...
In this trade i had done the analysis mid October. The analysis was proved right today with the thrust in Massmart but i put my stop loss at an insignificant level. Its always crucial to hide your stop loss behind a significant level. In this case below 4000 would have been ideal. So what ended happening is that i got wicked out of the trade and soon after the...
In case you did not listen when i said this market was literally screaming Sell Sell Sell in October,here is yet another chance you have for redemption. The upper blue zone was an important zone which was broken through on 21 November. This zone was tested and we had good sell candles coming thereafter but we dd not take these signals because we were still in the...
This is a good risk to reward trade. On the monthly we are encountering a tenkan which is a resistance level. The daily is showing a loss of momentum due to this resistance and we expect price to go back to equilibrium on the kijun level which is our ultimate target. The trade is taken on the H4 after a change in structure was confirmed now. We broke down through...
We should be safe to take risk off the table now. If my analysis is right we are a day or two from target.
On the weekly chart we notice the shaded blue zone was a strong support zone for the 30 September and 7 October candles. Price then made an impulsive move down from 11 November and this pierced (breakout) right through that support zone. Such a move especially after 3 strong weekly candles usually leads to a retest of the breakout zone. That Is our trade for this...
....and our trade gets closed at our last price magnet. . .RR of about 3. . .not bad, not bad at all:)
This is going to be a bit long but bear with me. The overall directional bias for this trade is extracted from the Monthly analysis. Since August we have been having closes above the monthly tenkan zone (52000-53000). This is significant,especially in October when the candle dipped down but quickly came up again to close above 53000. The narrative here is that are...
In line with our bigger picture of weakness in Gold we have an interesting opportunity forming on H4 here. Its a basic tenkan test trade. We broke went under tenkan and are tested it with rejection to resume the downward trend. Remember we are just trading in line with the bigger picture but getting smaller timeframe confirmations. Entry: 1475 SL: 1479 TP: 1468 RR: 1.54
Stopped out and invalidation of my triple top thesis.
We went close to our 2nd TP and missed it by 0.04. In my world thats close enough,no need to give back all those gains so we close the Soya trade after almost a month of riding it. Now if thats not trend following i dnt know what is..kkk
One of those days were you get the analysis right,from the pattern to the targets. We take some off the table and wait for TP2.
Price has been rising in an ascending manner and the lagging span is free to move. We have been constantly looking for a bullish set up to take as continuation of last months very strong bullish candle. We like the t-k crossover with tenkan coming on top of kijun which adds to our confluence for the ascending. The final target is the monthly Tenkan region with the...
I have been watching palladium since i got stopped out of my earlier short(see attachment). Now seems like the perfect inflexion point to get in for another short . The Monthly is showing a very slender hanging man after 2 months of strong bullish momentum.This is an early signal for bears to come. This bullish momentum broke the 1550-1570 zone (shaded in blue)...