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Blanks of the trader

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One of the signals posted last week got completed, namely bearish EUR/USD BAT pattern @1.3708 area. Despite all the fundamentals are being against short EUR positions at the moment this was pretty much textbook pattern completion, since the 1.37's levels were market stalled there for now. Short AUD/USD Cypher pattern is still in play unless we break 0.9086's levels. So far there have not been much conviction to the downside, however from technical perspective local double top has formed on 4 hours chart @0.906's adding more weight to the bearish sentiment for the coming week for this instrument. Shark pattern on CAC40 got closer to completion currently stalling @4350's levels, will be looking for slightly higher levels to get involved in this setup for coming weeks.

Trading signals 

With having exposure to couple positions at the moment will not be looking for additional risk to be taken on board in my portfolio for the coming week. Managing open positions can be at times as busy as anything else from trading perspective. The only thing where trader can make a difference once already in position is to manage risk. The key in my book is to stick to the rules and never increase originally anticipated risk regardless of the market direction.


The only setup for the coming week is bearish BAT pattern on XAUUSD (Gold). The area @1341 lines up with many technical levels. This shorting opportunity will be very much against the trend if the market will get there. In order to get involved in this trade in my book at least 30 ticks of risk has to be taken on board which is not something that every trader can afford perhaps. See the chart below.


For the traders paying attention to

Commitment of Traders

report, last week we could clearly see hedge funds turning bullish on British currency. Although there is no obvious immediate entry point, it is rather good news for trend traders of this instrument in my book.

This will sum up this week, have a good one traders! Feel free to contribute to further development of this blog by pressing the button below.


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