Just put in a Buy Limit on AUDCHF, gret risk reward ratio if the pair retraces slightly to support.
The pair retraced upwards and stopped me out. I was in profit for quite a while but never reached enough profit, so I let my rules apply. Wath the descending trendline for any shorting opportunity.
Price broke through support level. Stopped out.
EURJPY is retracing below resistance, going short aiming for demand zone below.
Took two long trades on Gold and EURAUD, price action shows bullish rejection of a major weekly level for EURAUD, giving us an excellent potential gain and an awesome R:R ratio of over 3 times our risk. On Gold the overall momentum is bullish on the long run, there has just been a pause in the uptrend and price action suggests it could resume. Stop at 1386.58 giving as a potential gain of over 4 times our risk.
A short signal has printed on pound yen via a bearish engulfing in a strong downtrend. Stop just above previous high, T/P far below gives us good R:R. Shorting GBPJPY.
A bearish engulfing has printed on the 8H chart, hence we are shorting the EURUSD. Stop above previous high (1.1187) and T/P at next weekly support level (1.0792). Going in with a 1% risk, risk:reward ratio around 2.5 to 1.
Going long Gold and Silver as both have been retracing. Given wider markets trends and flight to safety, temporary weakness on XAU and XAG are good oppportunities. Prices are printing bullish engulfing candles. Stop below recent lows.
We are back to profitable trading with two successive positive months on the Price Action trading account. May stood at +0.7% and June at +1.9%. The number of trades was extremely limited (3 in May, 2 in June) as I remained very cautious and strict on my criterias. In May 2 out of three trades were positive with a so so risk / reward of 1.25 to 1. Things were better in June with 1 winner and 1 loser but a 2.6 to 1 R:R ratio. I have now created a link to the Price Action account’s performance in MyFXbook so you can check the reality of these figures. Let’s see what July has in store for us.
A nice rejection of above resistance (in a downtrend) has created an opportunity for retracement entry on AUDUSD. The subsequent candles showed good downward pressure. I have entered a sell limit slighlty above current price with a stop above recent high. This is a signal on 8 hour chart.
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