Nearly Naked (Simple Trades)

its having a stroke

awaiting long

g/j

Out


Red

A/U. Resistance in this area... 9060 - 9075ish

I assume it will go back to 0.8800 ? Do you agree Marc?

I was looking at that AU setup also. A bit nervous about jumping in front of the bus here, especially with equities being propped up this afternoon. But it looks like a pretty good % trade...Good S/R, 61.8 Fib of the move down, 1.618 of yesterdays retrace and divergence on the 4hr.



Look good to anyone else?

Btw I've been following this thread for a while trying to learn some things.

Really appreciate all the posts you guys make. It helps

Looking left..............

Hey all..
Hope you are all doin fine. Not too much time to trade here at the moment.
But popping in from time to time
Took a trade on a quite exotic pair last night. CAD/CHF.
Anyone traded that before?

Was at a strong area of support/resistance around .9940 / 50 from where we already bounced pretty nice before.
It was oversold on shorter timeframes as well, so I decided to go for it.
My SL was "just" around 50 pips (either that support holds again or not)

TP1 was the green UTL of the recent drop : just reached and 1/2 cashed in here (+165).
next targets now are the light blue UTL and if that one can be broken 1.03 area. (last swing highs as well as possible neckline of an inverted H&S in the making)
Plan is to leave a last part of my position open in case that neckline gets broken.
Everything saved at BE and going to trail my stop...so let this just be a free-run and watch
edit: TP1 and the current level is also weekly and monthly pivot. So we need to get above that first (close). So gonna be interesting.
(U/CAD seems just be breaking the daily TL to the downside again. So this might help me with me plan)

My trades are more short-term since I don't have much patience waiting for targets to get hit... that's just my style. I really don't know if it will get back to 8800 but my instinct tells me that it will continue higher and higher and higher along with the S&P 500.

Keep an eye on DR2, SR and FE confluence

Good eye, didn't pull my chart out far enough to see those other SR Should provide some good friction

Maybe a correction before another move north

I should have read up on the thread. You totally posted the idea way before me. My bad Great confluence area though. With the addition of that fib, it will make it harder and harder for AU not to correct a bit. That fib has shown significance on all levels too. Let's see how PA runs. Great chart by the way!

Good afternoon all