Eur/Jpy Our swing short setup worked fine and I am about 100 pips in profit now (4H entry 105.50).I leave my stop at 106.30 for now but took already some profits at 104.50. I will trail my stop after a new confirmed setup on the 4H chart. Next target is the 103.30 area. Good [...]
Swing traders should wait for some good support and resistance area breaks, before they can enter new positions!
Gold is ranging for many weeks now. The price has created a wedge, and it looks like we will see a break out of this formation soon. It can still take a couple of weeks, but a break here would open the way for new swing trading setups. Patience now! Remember…You don’t want to decide [...]
Price has broken the resistance line on the 4H chart. I will wait for a good 123 setup on the 4 h chart to trade long. This could be a swing trade position, if the setup looks good.
The bounce on resistance did not happen, so we did not have any chance to trade short yet in terms of swing trading. We need to wait for a higher low for long setups or a clear lower low to look for short setups.
Eur/jpy 4 H chart 1.Wait for the price to retrace back close to the orange trendline. 2. Wait for a bounce and a red candle (4H). 3. Go short with target the 103.70 area and a stop over the orange trend line.
What we’re going to start doing is share some of the charts we prepare for ourselves to trade for both our personal accounts and for managed accounts. They give a very clear roadmap of possible market scenarios and help us to anticipate entry and exit points. NOTE: Double click chart to make it larger.
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