mcrhf_fx

mcrhf_fx

Price broke the KL on 4h timeframe, and made a liquidity wick to the downside, it lined up with LTF Support levels, so we entered off of that anticipating price to flip bullish and continue back up the previous 4h high.

mcrhf_fx

Price broke below the KL but the next 30 minute candle closed back above, indicating a small liquidity grab for price to move back up. CPI was to follow and as the next hourly candle broke the previous high, buys were entered with us anticipating CPI to drive price back up to the next KL. Secured some profits there, and left a runner to target the KL at 1.26900.

mcrhf_fx

Price broke below our identified KL, as we were expecting negative GBP news, with a stronger dollar we entered into sells targeting the next KL for 60 pips. Price formed a minor resistance and there was also negative GBP news sending price down as expected.

mcrhf_fx

Took successful buys on gold after price broke resistance, waited for a pullback and entered anticipating price to move up with Asian volume. Looked to target a 4hr wickfill and stops were placed below the previous 30m candle.

mcrhf_fx

Took successful UJ buys after price broke resistance, waited for a pullback and entered anticipating price to move up with NY volume. Looked to target a 4hr wickfill and stops were placed below support.

mcrhf_fx

Broke resistance on the 2h and 4h TF and have clean traffic up to 110.350, looking for a potential retest and a break of the high and will take this trade if there is enough volume in the market as UJ tends to move slowly. I would prefer a 1h close above 110.100 as there is a small 1h resistance yet to be broken.

mcrhf_fx

I don't usually take impulse entries but I have taken a similar setup on GJ 3 times before already this week and they were all winning trades Entry was taken at the point we broke below the wick of the bearish 30m candle on support anticipating price to come down to the next support. I used my usual 2% risk and price very quickly moved towards target TP hit and...

mcrhf_fx Updated 

We have been ranging since London session yesterday with very little volume. We have three options for gold volume permitting. If we break above the range we have been stuck in, we can look for a potential wickfill which would be 30 pips, however that is a risky move. Safer buys would be if we break resistance at 1933. We have clean traffic to the left and we can...

mcrhf_fx Updated 

Gold had formed a clear support during London Session on the 30m and 1h timeframes. We had strong bullish momentum so my bias was bullish in the short term. I then switched down to the 15m timeframe to look for a good entry to minimise drawdown. When a bullish 15m candle closed starting from support, I waited for the next candle to form bullish and my final...

mcrhf_fx Updated 

We are currently trading in a sizeable 40 pip range, we have two options to enter a trade: 1) If we break below support and form a resistance on lower timeframes, we can look for sell entries for a potential wickfill. It is a decent sized range to fill and profits would be secured early as usual anyway. 2) If we break above 136.275, look for price to form...

mcrhf_fx

Price broke below the support we highlighted, however as there was no lower wick on the 1h breakout candle, price had no clear range to move down, so instead of moving to the lower timeframes to look for selling confirmations, I stayed on the 1h timeframe and decided to look for a break and retest setup, as it was not on a lower timeframe my confidence for this...

mcrhf_fx Updated 

The first time price broke below support which was required for sells, resistance was formed but we never got the final confirmation required to execute on sells. Price then broke back into the range before we took an entry. As we had already formed resistance, I was happy to go down to the 5m timeframe to confirm sells. The next 5m candle broke back below...

mcrhf_fx

A few hours ago, price came up to a very important resistance, which is highlighted on the previous gold chart posted. We started to get multiple rejections from the 1919-20 area so I realised with confirmations, this was a very good selling opportunity. After the multiple rejections I had seen enough to deduce that there was a very high probability that price...

mcrhf_fx

I had already highlighted that for buys to be valid, price needed to break resistance and form a support. Price did exactly this and as support was formed, I looked for confirmations to enter buys. When the bullish 15m candle broke the high of the previous 15m candle which was our formation of support, I entered the trade. My stops were below the current 30m...

mcrhf_fx

We are in a very important area with Gold right now. Gold is currently trading in a 80 pip range, trading in the range is not recommended. If gold breaks resistance, there is a very high chance that we will go long to test the zone at 1932-34, the reason being that this is a key zone on the 30m, 1h, 4h and daily timeframes, and it has been respected for two...

mcrhf_fx

As I have already had a very good day, I decided when GJ broke resistance to use the 15m timeframe for confirmation, the reason being I had a lot of profits to use as leverage. When support formed on the 15m, I took a buy entry as the new 15m candle broke the high of the previous candle, with stops below that candle. As price went up into 10 pips profit, I...

mcrhf_fx

After taking sells where we banked 90 pips, price broke above the range highlighted on the analysis last night. Instead of waiting for support to form, I waited for a retest and entered on the retest, so this was effectively a break and retest entry. As price reached the first target, I secured my entry and moved stops to BE. Price then reached my next target...

mcrhf_fx

If we close above 136.845, we can look for a wickfill towards 137.000 and then potentially targeting 137.150. We need to close above and form support on lower timeframes for safer entries. This would be a quick scalp