Why buy at that particular price .... Case study 1 for this week

USDCAD .. I made a mistake her price wasn't forming a WXY but a simple zigzag

Like this

XAUUSD 15 MIN if we get this movement here then gold might be a good pair to look for longs

So this was a trade yesterday . The count was right and price eventually went down but went up again before it really fell taking me out . This is classic wave problem that most of us face . Usually wave can extend and even when you have a solid count wave are soo subjected to this and this problem will show itself Cleary when yo know waves ... how do you avoid this

Since typically we would look for buying down there for better risk to reward usually more than 5 . The risk are high and usually we are subjected to buying extended waves on wave c

Instead wait for price to break the depth line . That will form a sub wave 1 then wait for sub wave 2 for confirmation of a buy . This are where high probability setups are formed . Now the drawdown to this is you might miss some great opportunities and sometimes the risk to reward might be lower than 3 .

NOTE ; this is for all timeframes above the 15 minute chart . Anything below that this will fail more than 50% because of manipulation and stop hunts . And obviously this is a more complicated subject I can't teach here but if you study on your own you may get the point am trying to make

XAUUSD 1h ... look for what we have talked today as exercise

USDCHF ..4H . There should be an opportunity on this pair but it will most likely mature next week as I strongly think price will complete wave C

USDCHF 1H

Okey slow week but most pairs were correcting last week so this week we must have a huge opportunities next week and the following are the leading opportunities

USDCHF we have traded on wave 5 , so if price breaks the depth ( the low made wave 4 of this wave C ) we should have great trading opportunities . now this pair is highly dependant to the DXY and EURUSD but this should be the path for it next week .

EURGBP ... 1H . This pair has a strong bearish conviction where currently we are trading on wave 3 of wave (3) . So next week any bullish move will create a selling opportunities

USDCAD 1h . We have completed a running flat on wave (4) now we are trading wave (5) so similar To EURGBP any bullish movement we will be looking for selling opportunities

XAGUSD 1h ... ONE OF THE BEST PAIR TO TRADE THIS YEAR . This pair has been delivering price accurately and it has been very easy to trade . After that bearish impulsive drop ,price has started the bullish counter trend going against the bearish drop . So next week we should have a buying opportunity after price completes a correction on wave 2

USDJPY 1H .. as we discussed last week this pair is in a weekly correction phase as it is is a range .so we will be looking for smaller timeframe opportunities .

GBPJPY .. unlike USDJPY , this pair has been in a strong bullish trend and right now price is approaching the climax of this trend with this final wave 5 of wave (5). from there we expect a counter trend . One this you should note most of you are still beginners so don't trade against this bullish trend until brice trade below this wave (4)

GBPUSD ... this pair is bullish but its soo oversold that everything suggest price will eventually start trading lower but that time isn't next week maybe the week after ,next week we will keep looking for buying opportunities

EURUSD 1H .., like its contemporary pairs this pair also its way overbought but next week look for buying opportunities