AUDUSD - Trade Examples of my Scalping during Asian Session

AUDUSD - Trade Examples of my Scalping during Asian Session

Thought I would post some of my trades I took.  Its been a long time since i posted trade examples.

Trades i took

#1 Trade - Short - Loss -5pips (0.02% loss as manually closed and was only risking 0.5% as it was counter from the surge)

• There was a massive surge after positive AUD economic data, however paused at the 0.80 acting as resistance.
• Took the trade short as there is a second attempt at the 0.80 and rejected.
• Unfortunately TP was not hit, missed by around 5 pips
• Trade manually closed as getting late and the time of day is where breakout usually happens

#2  Trade - Long - Win +19pips (1.5% gain) - manual close - however would of hit TP if not

• Trend of the day was up and price action was bullish as it breached the triangle to the upside.
• Time of day - Pre European sessions where usually breakouts happen
• Trade was manually closed - however would of hit TP if not.

XAUUSD GOLD Forecast and Trade setup for 20th January, 2015

XAUUSD GOLD Forecast and Trade setup for 20th January, 2015

Potential Bearish Cypher pattern completing at 1290-1300 resistance level

Daily Chart

For gold, My targets of 1290 have been achieved from my analysis from earlier this year. So right now we are seeing a small rejection from the 61.8 fib and 127.2 inverted fib. The 78.6 fib for Cypher to complete is at 1298 to be exact so we may see failing rally to attempt to break the 1300 levels.

• Cypher pattern completing at the 1298 (78.6 fib)
• Bearish Trendline also at that zone
• Monthly and Weekly Charts are in Bearish Ichimoku Technicals
• 1300 round number acting as good resistance
• Could be risky selling into it, because of a very strong bullish run

Outlook Trade opportunity

So this is how I would trade - Since its been in a very strong bullish run, I shall be looking for another rally towards the 1298-1300 which i predict could possibly be a failed rally. I'll look for Rejection Price action candles on a H4, and once confirm would enter a short, with stops above the failed rally .

I would classify this trade to be a higher risk due to the bullish run, and also where the zone is located where the risk :reward won't be stacking up in our favour

Risk Level High

Tips -

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