My analysis of XAUUSD current price around 1283.5. I trade the 1 hour chart and use the 4 hour chart as my boss. After yesterday’s break out to the upside, we are clearly in buyers territory. There could be a case made for a sell, break out of 4 hour consolidation and price will come back to retest. HOWEVER, I wouldn’t want to risk this because firstly how do we know where it’s going to retest to, we may even be at that point now and secondly I really wouldn’t want to trade against this momentum. So I’m looking for a buy if price breaks and holds above 1286.5 on the 1 hour chart. The only exception to this would be if price zooms past this point and is therefore over extended (already made its move).

My analysis of GBP pairs. They’re all a bit choppy at the moment due to fundamentals. (Will May see out the end of May) GBPUSD and it’s sister pair GBPCAD look to be just below an important 4 hour zone. 1.26863 on GU and 1.7804 on GC. If these break and hold to the upside on 4 hour chart I will be looking for an entry to buy on 1 hour chart. For me to sell price would have to come down a long way , consolidate and then break an important low like yesterday’s low before I could sell.
I could be tempted to sell GBPJPY or GBPNZD if price breaks and holds below yesterday’s low. On any of these trades I would get my stop loss to break even as quickly as I could because any Brexit or PM resignation news can and will cause spikes.

Markets closed in London and New York so I will not be trading today. There is a nice set up on XAUUSD (broke thursdays high and is retesting that area. I would normally buy at this point (once it showed rejection), however with the main markets closed I have concerns over liquidity amongst other things so I will be keeping out.

So back to normal today. I don’t normally trade currency pairs in the London session after a weekend. But I’m looking for a buy on US30 if it breaks and holds above 25699.5 on the hour chart. 70pips or brokers equivalent will be first target.

Selling GBPJPY stop loss 139.000
Take profit 138.300

GBPJPY hits take profit overnight 🔥🔥. It took that long because of lack of news to drive the market. Rest of the week is filled with news.

Analysis for today: Primarily looking for entry points for sells on GBP pairs when Frankfurt/London opens.
XAUUSD. The zones are too wide for me so I can’t see a setup materialising today.
US30 Already made a move yesterday and needs to consolidate.
So in summary will be concentrating on GBP pairs this morning.

Buying GBPJPY
stop loss 138.2
Take profit 138.9

Selling US30. 2 positions. 50 pip stop loss 1st take profit 70pips 2nd position put trailing stop loss in profit when TP1 is hit.

Trade update. First take Profit hit for 70 pips. Trailing stop loss of 50 pips in profit for 2nd position.

US30 Trade Update. I am now closing my second position at + 75 pips. I think price may retrace back to entry point in the next hour to let NY traders take their profit. Protect the profit.

Analysis on the pairs I trade: Going to be a quiet day for me. (Like most Monday’s) GBP pairs; My trading plan; I don’t trade GBP pairs on a Monday before NY but then looking for POSSIBLE sells on GBPJPY GBPNZD and GBPAUD. This will be on the condition that they have consolidated during London this morning and then break Fridays low. This is unlikely to happen because GBP is looking weak against most so may break the low(s) this morning. XAUUSD: Has already broken Fridays high and run away so no trade today. US30: Gapped 70 pips down over the weekend. Even if it breaks the low of Friday I wouldn’t trust it not to retrace back up. One of the reasons I only trade a few pairs is that you get used to how they move.

Selling US30.
Stop loss 24986.5 (85pips or your brokers equivalent)
Take profit 24713.0 (185 pips or your brokers equivalent)

Buying XAUUSD stop loss 1325
Take profit 1332

Last week (NFP) our first L for a long long time. Only 3 trades 2 losers and 1 winner. GBP pairs were very choppy and weren’t correlating. XAUUSD and US30 were not playing particularly nice either. So only 6 trades in the last 2 weeks whereas normally we are looking for at least double that. Knowing when not to trade is just as important as knowing when to trade. OVER 85% SUCCESS RATE THIS YEAR.
Today; as you know I don’t normally trade GBP before NY on Mondays. But I would be looking to buy US30 right now if it wasn’t Monday. XAUUSD is at an important support level right now. If it breaks through and holds on hour chart, then I’ll look for a retest to get in for a sell.

Good morning all. My analysis for today. First of all US30, 1 hour chart (image below) I would like to see price break, hold and retest (maybe on smaller tf) the upper zone. Our first take profit would be 70 pips. Why 70 pips? Because that is a typical move for this indices. It could well go a lot higher so possibly another position as a runner. I would consider a sell if price broke the bottom zone but only one position for 70 pips with stop loss to break even ASAP.

XAUUSD 1 hour chart (image below) I would take both a buy or a sell if one of the zones are broken, held and retested (possibly on smaller tf) On both potential trades my first take profit would be 20 pips and 2nd take profit would be 50 pips. Why 50 pips? This pair sometimes takes all day to move 50 pips. It also sometimes moves a lot quicker and further, however, I don’t look for the “Hollywood” trade and my trading plan is to take 50 pips on XAUUSD. We’ll talk more about trading plans in the coming weeks.

The first Premium Signal just hit take profit. Over 40 pips in under 2 hours. Register for your FREE TRIAL at the link underneath.
https://www.ft4x.com/?ref=user-426574