uncle_edd

uncle_edd

so Lots of AUD negative news has come out over the weekend which means we can expect the dollar to weaken compared to the pound. as for the technical side i am predicting a gap at the sydney open and once the dust has settled hopefully a possible entry will arise and we can go long. the TP will be to go up the big wick. notice im not placing the TP at the top of...

uncle_edd

so as i explained in the chart analysis everything i wrote was clear and correct. another beautiful mark up and trade completion. this trade was thanks to the mix of understanding how marker movers work and also some technical's.

uncle_edd

if you look for the before post of this pair you can see my mark up was absolutely on point! price retraced perfectly at the 50% and we saw a beautiful continuation of the price in its bearish momentum. unfortunately i did not have the confidence to take the short position on this trade and i was also away from my PC to watch price and hold the trade. but this...

uncle_edd Updated 

thankfully i had a pending order on this pair which was not tapped thanks to my buffer zone just above the previous wicks. so this is a learning lesson. what i really should have done is the obvious... SELL ON DOWNTREND. i made the silly mistake of trying to buy the retest. what i should have done is used the fib retrace tool from the LH to LL. which actually...

uncle_edd

Simple SR trade. price broke the low and now we can expect it to return back to structure and correct the move

uncle_edd Updated 

price dipped down towards the gap to grab retailers SL's and has not come back into consolidation. a pull back is expected as i have drawn up. my hopes is that it will bounce up to the 4hr resistance from the 23% but if not it will bounce back @ 50% which is a support. as for fundamentals, because USA has stopped the EU from traveling to the US the currency may...

uncle_edd

as expected we saw price retrace at 50% and continue to the magic TP -27%. if price pull up to the 78 level we might be able to sell based of a cypher pattern. im pretty new in this industry and all i can say is chart time and constant learning will see you to be a successful trader... along with proper risk management

uncle_edd

as expected the order was fulfilled (:

uncle_edd

Bias is in chart

uncle_edd

chart has explanation