Just wanna drop by and welcome you back @medisoft! Super exciting to have another FX honorary member we could learn from. Good luck in your trading and I definitely look forward to reading more about your trades.
Sure, I see GBP stronger than AUD in a more bigger time frame, so I was looking for a price retracement to a previous action area, and looked for a candlestick signal on that zone.
The green pinbar looked nice, the sellers started selling, but the buyers overtook the sellers finishing higher than the open. I then placed my entry as pending on the 61.8% of that candle and the stop a little below the last support area.
Right now I see some risk because the 1.93 area was broken and the candle finished below that area, but the 1.92 level is holding for now.
I think the price may stay congested in between 1.92-1.93 for a while before continuing, but I think it will go up because that area was a previous support, and the MA200 is about to get in place as a new barrier for the sellers.
The sellers had been stronger than expected, and I was stopped out. Waiting for another signal. My pairs to look this week are AUDCHF, AUDJPY and GBPAUD, looking to short the AUD
Waiting for a entry on EURAUD because it is in a range. I’m biased to weak AUD and neutral EUR, and the price action tells me that the price may go up, so I’m trading against AUD, looking for a 1:1.5 risk/reward.
Waiting on GBPNZD for a retracement to broken resistance. I set an alarm to alert me if the price reaches that level.
If that happens, I will monitor the trade to see if the price bounces well on it, or does a deep retracement, to next level, and then wait to see if price bounces well there.