Trade recap from yesterdays ForecastJust posting a quick analysis to follow yesterdays forecast.
This trade set up just after the forecast that was posted yesterday.
At the time the forecast was posted we were still in a down trend on the 15 and 5 min time frame, and we had a 1hr range marked on as the area to go agressive at.
Because price had rebalanced to the 50% of this range we knew price could go early.
The 15min trend change in pre london session was this indication and that is why we then placed this trade targeting the weak high that was mentioned in the forecast.
This is a perfect example of adapting to the market and not waiting for the key 1hr range edge as the only area to trade from.
Traderecap
GBP/CAD and EUR/NZD on watch for me today.GBP/CAD:
• If price pushes up to give us a confirmed second top and then it pushes back down to give us a confirmed second bottom, then I'll be looking to get long with a risk entry after a phase line break on either the fifteen minute or the one hour chart if the last part of the most is corrective.
• If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place this trade.
EUR/NZD:
• If price pushes up to and ideally just above the upper trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If price only pushes up to and ideally just above our rayline, then regardless of how it does so I'll once again be waiting for a convincing impulse back down followed by a tight flag and then I'll again be looking to get short with a reduced risk entry on the break of the flag.
• If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place either of these trades.
EUR/JPY, USD/JPY and USD/CAD on watch for me today.EUR/JPY:
• If price impulses down below the low of our most recent piece of structure, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get short with a reduced risk entry on the break of the correction.
• If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place this trade.
USD/JPY:
• If price pushes up to and ideally just above our rayline and the last part of the move is corrective, then I'll be looking to get short with a risk entry after a phase line break on either the one hour or the fifteen minute chart.
• If price pushes up impulsively to and ideally just above our rayline, then I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises.
USD/CAD:
• If price impulses up below the high of our most recent piece of structure, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the correction.
• If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place this trade.
💭 €4,300 In my sleep 💤 (recap)last night we executed a few trades prior to the New York market close and before we went to sleep, this morning many of those trades were in profit and one trade reached its Stop Loss while the other reached its Take profit.
- FTSE SELL / STOP LOSS
- XAGUSD SELL / TAKE PROFIT
While the other trades, such as AUDUSD and GBPUSE were in a decent profit.
Since the target of this account is 10% a day, the account has reached its target before we even started trading for the day!
Questions are welcome and good luck!
XAUUSD Short 10k recapHere's a quick recap of how we shorted XAUUSD this morning at the London open and banked over 10k profit.
We traded a reversal in price coming to the 30% of the fib retracement, from the recent high to the recent low, RSI was up at the 70 level and it was all connected with a trendline.
This is a classic example of the trade setups we take.
Questions are welcome and will all be answered.
Tuesday Watch-list Overview Good evening everyone,
This video is just to go into more detail on the charts I sent out into the group earlier today. We have been taken out of USDCHF for 25pip SL, well done to those who avoided the stop hunt.
I'll still be looking for a short on the pairs as the USD is showing weakness across the board.
The pairs are not yet breaking the previous days lows or highs, so this means they are in NO TRADING ZONES!!!
Remain patient and wait for the setups to arise, you don't have to be in a trade all of the time. Our trade copier has banked over 2% today on USDJPY, do not feel pressured into trading, if you have funds in the copier let the algo do it's thing and focus on trading yourself.
For anyone who would like more information on the paid services we provide at Alpha Trading Group, please leave a message in the comment section below.
Trade safe everyone.
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