EDUCATIONAL PURPOSES ONLY
I decided to try something new and plan trades ahead. If i am right we can see a nice move for GU coming.
1st we wait untill we reach "UT" depending on price action íll be taking a short myself from there.
I will ride this until 1.2300 unless price action will tell me to close just above. (AR Support)
Second i will take a buy from the AR support, lines up perfectly with my FIB level that i normally use for my entries.
I will take profit from the buy either at 1.24000 if that holds (UT resistance), if not i will take profit at the possible UTAD @1.24800 region, also gap fill from 4th May.
Depending on this particular situation i will SHORT again from 1.24000 (UT resistance line) IF UTAD is indeed being formed i will short from there, also entering depending on price action.
I will take 2 positions, each first position will be closed at the first target, on every retest of the support / resistance lines another setup will be opened. Targets can be found on the chart.
I would like to receive feedback, please let me know ur toughts.
Remember this is no trading advice, ill be taking the trades as it are my own setups. Please make ur own analysis.
I decided to try something new and plan trades ahead. If i am right we can see a nice move for GU coming.
1st we wait untill we reach "UT" depending on price action íll be taking a short myself from there.
I will ride this until 1.2300 unless price action will tell me to close just above. (AR Support)
Second i will take a buy from the AR support, lines up perfectly with my FIB level that i normally use for my entries.
I will take profit from the buy either at 1.24000 if that holds (UT resistance), if not i will take profit at the possible UTAD @1.24800 region, also gap fill from 4th May.
Depending on this particular situation i will SHORT again from 1.24000 (UT resistance line) IF UTAD is indeed being formed i will short from there, also entering depending on price action.
I will take 2 positions, each first position will be closed at the first target, on every retest of the support / resistance lines another setup will be opened. Targets can be found on the chart.
I would like to receive feedback, please let me know ur toughts.
Remember this is no trading advice, ill be taking the trades as it are my own setups. Please make ur own analysis.