There could be an interesting opportunity with a possible 1 to 4 risk : reward ratio on a long CADJPY trade. While the pair is clearly ranging, price has bounced off resistance and printed a bullish engulfing candle. I will try to get a better entry betting on a retracement and aim for the other side of the range with a stop below recent low.
The Gold trade from last week looks pretty good with very solid bullish momentum. The target is around 1282, giving us a three to one prospect in terms of R:R.
Going long Gold (XAUUSD) on a Price Action signal. We have a bullish engulfing candle on an important support level at 1210. Going long, with a stop placement below the previous low. Risk is kept limited at 1% of my account, and since I am aiming for 1283.67 we are close to a 1:3 ratio. As I have explained in previous posts, due to mostly ranging markets, I will shift my trading style to a more versatile and hybrid strategy also based on pure Price Action. I will be trading on a separate account whose performance I will entirely share just like my other one using Myfxbook verified performance.
Going long GBPUSD this morning, pair is trending up and risk can be kept low at latest fractal.
The short trade on CADJPY is looking good, we are targeting the support area and stop has been trailed to B/E.
A trade setup has formed on EURGBP. Good upward trend, RSI has been retracing and is now up, EMA is sloping up, stop loss at previous fractal. Go long.
Going long with bullish pressure on EURUSD and setting up a buy stop on AUDNZD if previous high is broken.
New signal on EURGBP
There is absolutely no signal on the radar. A little hesitation on GBP/JPY (short) this morning but markets have been so much in a range for the past weeks, best to stand aside and remain patient.
Short signal on EURAUD
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