I am looking for an upside move in GBPAUD. On the Daily chart, we can see there is a clear double top with liquidity past it.
To position long on the H1 timeframe, I want to see a break and retest of the green level. I will look to offset at the silver dashed line and re-enter if I see more compelling price action into my long bias.
There is no hard and fast stop or entry price, until I see what I want to see on the H1.
Ideally I’d like to see a flag-type formation into my green sell level, in order to position short for a break of 105.55.
If we tag 105.55 before it hits my green sell level at 106.54, the trade idea is off the cards.
Supposing we do get back there before tagging the low, I will enter short with a stop loss at 106.93
The first chart of the day for the new month.
I will be offering AUDJPY at 83.375 and a stop-loss at 83.93.
My target is currently 82.71, however, this may change if the price action changes and creates a target nearer to my entry. I will re-evaluate, if this happens.
We might be waiting a while for this one, but
WLTW is one of the most obvious trade’s I’ve ever seen!
I will be entering a bid at 132.12 with a stop loss at 125.78.
For now, my target it at the orange line at around 146.00 for approximately 2R.
I will reassess if we get adverse price action ahead of my buy entry.
A very common question I’m asked is: ‘What are your favourite trading books and resources to learn?’. I’m going to reveal my top 7 trading resources.
In EURUSD, if we get a break of either side of the range I will look to position into the market.
A downside breakout of 1.2277 and a move to 1.2205 is on the cards.
An upside break of 1.2355 will be my trigger to look for longs.
My first item on this week’s watchlist is a long trade in Gold. The 1330-1332 area looks promising for an upwards bounce, if we can make an arched return to it. As yet I’m unsure of where I want my target, likely around 1343. Stop would need to be 1326.5.
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I will be starting the day offered 108.43 in USDJPY, target is 107.9, stop is 108.75.
Multiple touch structural area, past ATR. Looking at roughly a 1.63R payoff.
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Letting your winners run is another misconception that holds many traders back.
It is preached and pontificated as the ultimate fix to your trading. The people who say this, as if it were some magic potion, usually have no idea how or why you trade.
On a day with multiple global bank holidays I’m not expecting a great deal of activity in the markets.
However, I believe that AUDUSD could provide the first opportunity of the week.
I’d like to see a breakdown through 0.7891 and a retest in order to position short for a move lower.
If I get entry conditions, I will figure a stop and target based on the new structure that has formed.
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