Gold has triggered the second position everything on this assessment (weekly chart) is now in play.
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DislikedIt's kinda quite here. But I guess I'll continue to throw up charts until someone says otherwise lol. Double bottoms are simple & uncomplicated. They are also one of the more respected chart patterns. If played correctly they can provide excellent trade opportunities with high value targets. A pair like the EU could trade 500 points off a double bottom with no problem. The 1st chart is EU zoomed out illustrating the 1st bottom. {image} The 2nd chart is EU zoomed in illustrating a possible 2nd bottom at the 1.25 level. {image}Ignored
Disliked{quote} Eggs. I think you provide a good insight to pairs in the market. I'm sure it is appreciated that both you and the Thread starter take the time to post your charts and thoughts.Ignored
Disliked{quote} Thank you sir. I find it beneficial to my own trading & decision making. The principles gspajon has outlined for the direction of his thread aligns well with my own fundamental beliefs as to what it takes to make not only profitable trades but a profitable & successful trader. I always notice several lurkers here & I think it would bode well for the thread if more would participate.Ignored
DislikedNow as to tops and bottoms...I (personally) am really crappy at trading them. When a market is trending, every time it retraces then rejoins the trend it ALWAYS looks like a double top/bottom (to me), until it pushes through. I have never developed the finesse to trade them and have pounded the hell out of my equity by doing it.Ignored
Disliked...Just reloaded my operating system and all the software isn't yet re-installed.) Correction - should read Trending.Ignored
DislikedGood afternoon simple uncomplicated traders. Hope everyone is well. I wanted to follow through & Post a few charts. My AJ triggered in today's London Session. I have been talking about the strong bullish momentum on the pair for the past couple of days. Yesterdays news caused the run to unwind a bit offering a nice continuation setup. The 4HR chart shows an inside bar. On this chart They're in red. Buy Stop above the break of the mother bar to prevent slop & away she went. I have a 48 point stop below the mother bar & have targets of around 110...Ignored
Disliked{quote} I understand completely sir. At the end of the day you have to follow your intuition & continue to do what works for you. It looks like I'm going to miss my target on this EU Trade. I shorted yesterday & had targets all the way down at 1.2515. 1.2570 proved to be a strong supply zone. It will hurt seeing my trade work against me & getting stopped out for chump change but at the end of the day I have to stay dynamic. This could be the double bottom. It might not be pretty but it does not have to be. Just trade what you see.Ignored