– CURRENTLY NO LIVE FUNDS TRADED –
Bear pin bar formation rejecting price above the resistance zone indicating bearish movement from here.
Bullish Pinbar formation off the 50MA which may indicate bullish momentum again in line with long term trend. However it still has to breakthrough the previous support/resistance area.
Trade: Sell Stop @ 110.89 (1 pip below the low, -2 pips for spread also) Stop Loss @ 111.63 (1 pip above the high, +2 pips for the spread)
Trade triggered during the day but then closed the trade out reaching the stop loss later in the day, but again, only as far as the trend line.
METALS XAUUSD (Gold)
Trade: Buy Stop @ 1262.64 (1 pip above high + 10 pips spread) Stop Loss @ 1251.63 (1 pip below low – 10 pips spread)
Again, trade was triggered then the Stop Loss was triggered later in the day.
These are my personal reviews of the market and as I am not an experienced trader I highly recommend you seek your own advice before placing any trades based on my viewpoint.
Feedback on my market analysis would be hugely appreciated as I seek to learn more about trading.