Dear Trading Idea Traders
The trading idea from yesterday still has not revealed its potential. There is still no sign to close this position. Indeed, I am seeing more and more bullish indecision, which increases the possibility for the bears to push AUD/USD lower. I am seeing some bearish indication from one of my other previous bullish trading ideas- DAX. The daily time frame is showing some bullish indecision and I believe this is actually a good place to take profits from the long trades (if you are still long). I still believe that this would be just a minor correction, but I prefer to see some more bullish confirmation and then re-enter again. For now, the best thing is to just take profits and look for another bullish trading opportunity whenever it presents itself.
The trading idea from today is coming from the precious markets. I am seeing a bullish rejection in a downtrend in the Gold market. There is a daily rejection candle. I am looking to open a conservative position and not risk more than the equivalent of 100-120 pips of value or 1 per cent of my total equity. The entry for this position is at the level of 1,210. The stop of this trading idea would be placed just above 1,223. The initial target is the level of 1,190, where the first support is located. Then, depending on price action Gold might go lower to the next support level at around 1,170.