Sideways Market

Updated

Usd moves from an uptrending market to a sideways market. The Market range is between 92.96 and 93.34

Now let’s see what will happen next: A break and close below 92.96 or above 93.34 ?

Note

30 min left to see if we have a break below :)...

We manually close our trades in loss. (Hope you’ve see updates)

Note

Price fails to close below... we wait for the next bar to end

Note

We have our confirmation that usd will continue to trade lower... price close below 92.96 now we can look for buy on XXXUSD pairs and sells on USDXXX

Note

#AUDUSD buy stop at 0.72400
Risk= 2%, Stop loss: 0.72000(40 pips)
Take profit: 0.73600(120pips)

Note

#EURUSD buy stop at 1.18400
Risk: 2%, Stop loss: 1.18100(30 pips)
Take profit: 1.19300(90pips)

Note

#GBPUSD Buy stop at 1.32200
Risk: 2%, stop loss: 1.31700(50pips)
Target open

Note

#USDCAD Sell stop at 1.31300
Risk: 2%, stop loss: 1.31800(50pips)
Target 1.29800(150pips)

Note

#USDCHF sell stop at 0.90720
Risk: 2%, stop loss 0.91000(28pips)
Target open

Note

#USDJPY sell stop at 105.970
Risk: 2%, stop loss 106.200(23pips)
Target 1: 105.000(97pips)
Target 2: 104.200(177pips)

Note

#GOLD buy at 1949.5
Stop loss at 1926.5(230pips)
Target 1: 2007.0(575pips)
Target 2: 2060.0(1105pips)

Note

We’re stopped out on USDJPY. Keep holding others trades, USD doesn’t show a sign of strength so far

Note

If you follow Risk management you should be not in more than 4% Drawdown right now. I’m experiencing 3.6% DD

Note

Did you see what is happening on 1hr ?
There’s a QM who is taking place. In the next candle end we will see if it will like the last QM we entered on USDCHF and continue his move down or if he will works out and create a false resistance Breakout.

Let’s stay online and see what happens next

Note

... if it will fail like...

Trade closed manually

Guys the QM is working out... delete pending orders and close open orders. We are going to move on the other side of the market

Updates ends here

Elite_Markets

Related publications

Momentum is coming

by Elite_Markets

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.