Potential setup.
I will wait and confirm on the LTF.
Have not posted in here for a long time. Been working on myself. EURUSD is by far my best pair and I will be paying close attention to it for the next couple of months.
Don't overtrade.
In fact, don't trade. There is little to no volume in the market. Come back tomorrow stronger.
Always preserve your capital.
Have a great day.
PART I.
You name it, adaptive, reactive, flexible are all synonyms for the same thing. The IMPORTANCE of trading psychology is pivotal to a traders' success.
For example, in this chart, you can see I am looking for longs and shorts. The KEY thing is I don't have a bias. Having a bias can cloud a traders' vision. When the price arrives at one of my level's I...
I will be looking for a GJ pullback to the red or grey zone here. This will give me a good chance for the pound to gain strength after the market close to set us up for the buy assuming dollar weakness.
With gains in futures today and positive earnings for tech giants, I am expecting NAS to continue to the upside near the end of the evening. Depending on who wins or is looking like they are pulling ahead we could see many shifts in momentum. So far I am holding.
Price Action has been interesting with other economies presenting certain clues for direction. Overall I am bearish on GBP pairs. Just looking for my entry.
It is clear gold is approaching very critical levels because they have not been tapped into for some time.
I am overall bullish on gold however, for short term purposes we could see retracements at one of these levels for correction moves.
Watch for:
1765
1760
1754
Waiting to see some fundamentals this week for further direction.
I want to see a downside move but because this zone has been tapped into so many times this week a clean sell .... or buy will be difficult.
A fakeout is expected.
