Trading Setups

Hello all,

In this thread I start to share my trading setups for Forex, Commodities (Gold and Crude Oil) and Stock Indices. The trading setups are depicted in charts with clear instructions and my methodology to make trading setups is a combination between Elliott wave analysis, Candles pattern and Candles pattern reading. It is just as my own unique trading style to approach the markets. So I hope that these trading setups may give you some further views into the markets.

See you by the coming posts.

Trade well!

XAUUSD update before FOMC on 30/10/2019

Fundamental point of view

Today to the U.S. trading session we have very important news releases for federal fund rate decision and also FOMC statement by the Fed. The market is expecting that a 0.25 basis point for the rate will be cut by the Fed. But before the interest rate decision, ADP -Non-farm employment change and GDP will be released for the U.S. economics calendar. Some numbers for the GDP and also employments in the U.S. investors are now looking for to see how far is the economy be affected by the tradewars.
https://tradingscenes.com/wp-content...9-1024x258.png

Technical point of view

XAUUSD has been recently consolidated and trading around the lower value area, which has a trading range from $1,488.xx( the lower value area)-$1,512.xx( the higher value area) of the month Oct 2019. Take a look at the below depicted chart for more info:
https://tradingscenes.com/wp-content...9-1024x443.pngFor an upside scenario, XAUUSD needs to be traded again above $1,500.xx price handle, then at that price zone, buyers are stronger to push XAUUSD to its next highs. Anyway as mentioned earlier that a bull is only to recognize, that $1,524.xx price handle has to be reached firstly, and trade above from there, then we are looking for an clear upside, else it is just be traded in a larger range.

AUDUSD trading update on 30/10/2019
Technical analysis

Aussie after a long time in a bearish mode vs. the USD, has recently recovered from its lows, whereby the 5th wave at 0.66628 finished in equality to the 1st in ratio perfectly. Currently Aussie is bouncing up to its previous highs at 0.68829 and has been forming there the higher value area with a range from 0.6818 to 0.6870. Technically Aussie can pullback to 0.6820 due to some news will be released later today in the U.S. trading session, but in general we see that Aussie has been well supported at that above mentioned price level. The key zone for a further up move for Aussie is detected at above 0.69200, breakout that area, Aussie will be traded above 0.70xx price handle potentially. Immediately resistance for Aussie is to see at 0.70750 price handle, at that price zone, there will probably be a pullback to the lower price area.



Take your look at the W1 TF depicted chart below:
https://tradingscenes.com/wp-content...9-1024x352.png

At the H4 TF:
https://tradingscenes.com/wp-content...9-1024x352.png

Trading strategy for Aussie in middle term for a swing trading is to keep waiting for a pullback to the support area at around 0.6820, from there look for a long.




Trade well!

Tradingscenenes team