Gold & GBPCHF triggered

Morning Dynamic Traders

Gold made a 24 point move up yesterday, producing a bullish bar at a support/fib reversal area. Stacking this up with the confluences mentioned in yesterdays blog, as well as ST now curling up, gave me more than enough confluences to enter aggressively on this trade. I have now been triggered using a pullback strategy and already in profits.

















Another trade I have been triggered into is GBPCHF. You can see we have a triple top possibility. VI is acting as R and the recent extreme candle is a doji which was also a head fake - since then price has been weakening. The recent market 'pre-shake' may have stopped out some traders if they had tight stops. Again I'm using an aggressive stance on this trade, as there are many confluences to support a continuation down. Of course the downside to this chart is that price is currently in a range, so I have to be prepared to be in this trade for some time if price decides to go sideways. My rationale is, so long as this trade can make a potential 1:1 RR.

















Of course with all trades there's the possibility it could go against you, as the market could do anything. This is why you must always have a pre-determined stop loss and an amount of capital you are prepared to lose.

Always carry out your own analysis and trade according to your own rules and trading personality.

Great trading!
Sonia Molina