View: Blanks of the trader
Blanks of the trader
Out of 5 setups posted last week 3 got invalidated. The only completion was short on GOLD(XAUUSD) from 1252 level. As the week progressed the market went the "right" direction initially, however never hit 1220's level where the first target was set to be taken. Since then it came back 1250's level and at the moment i am rather looking at cutting the position if price action stays above 1250's level. Bullish BAT pattern on China A50 is still very much in play, market slowly but surely moved towards 6570's level where this pattern is about to complete very much against prevailing downtrend at the moment.Trading signals EUR/USD
This major FX pair seem to be shifting to the downside at the moment without obvious short short signals though. One can use options PUT's to trade direction south on this pair. There is advanced pattern on this 4 hours chart to be completed @ 1.3365's area where bullish BAT pattern is about to complete as well as AB=CD pattern confluence in that area. This setup is very much against prevailing downtrend on 4 hours chart, however looking at the daily chart downtrend is not so obvious yet.
This setup is similar in a way to previous one on EUR/USD. The GBP/USD is looking more bullish on the chart, having said that if price action will move sharply to the downside there is potential for the downtrend to kick in. Will be watching 1.6265's level where bullish Gartleys pattern is about to complete.
Have a good one traders and feel free to contribute to development of this blog by pressing the button below. Thank you
No comments yet.