Market opened and wicked the area I had marked out to take my trade from. Looks as though it will be looking to rally towards the 1.335 level I had mentioned last week.
Another 0% drawdown entry.
Depending on the momentum throughout the rest of the day, may even extend TP to 1.339 level as that looks to be the next stop once TP1 has been reached.
1:7 RR =...
Entered GU with the momentum with a 10 pip SL. Looking to target 1.339 level. Moving SL to Breakeven now.
Potentially a huge move with 0% risk. Lets see how this plays out...
Tomorrow is setting up to be a potentially strong bullish day.
DXY is weak and looking to retest its April '16 lows. BXY's closest gap is at 133.5 and it looking very bullish.
The confluences are just stacking up for GU to go long, so its only right we play for the perfect buy up to our target of 133.5.
Potential 100+ pips on this trade. Looking to play this...
Targeting this trade to 1.3270. Another perfect entry, 0% drawdown. 1:7 ratio trade.
As GU made another correction after its bullish run yesterday, I was always going to look for that optimum entry point to catch the buy as low as possible. Current target of 1.3270 is based on BXY gap at 132.7 which is the closest gap to price now after the 132.00 gap was...
A key lesson to learn in trading is that opportunities don't appear very often. I'm talking about those sure-fire opportunities that you are 100% confident of taking without "ermmm'ing" and "arrr'ing". This was a move 2 days in the making. Just waiting patiently for that right moment to execute a flawless trade.
Here is an example of a textbook break and retest...
After yesterday's post, today played right into our hands as the gap at the 1.32700 level finally closed! With the way DXY is tanking recently, expect to see some further bullish pressure tomorrow. These are the set ups I will be looking at taking based on how price reacts in those areas. Look out for signs of reversal.
Potential 1:10 Ratio trades.
Looks like GU is fast approaching the market gap it left quite a while back at the 1.32700 level. will be interesting to see whether it finally decides to close the gap. if so, these are the set ups based on current analysis. Will continue to monitor price action throughout the day.
Will not be looking to enter blindly. The key here is to monitor the behaviour...
