Gold futures has already shown the no result of talk in today meeting & hedge funds already showing their safe heaven to put in their money where it belongs to.
I would surely be looking for Curde oil future reactions if there is not enough steps taken towards Iran in the meetings.
Most Aggressive entry would be around 58.70 with stops around 60.40 & First target should be 56.70 & breach their would open the doors for further decline to 53.80 & I would prefer to take my profit around that level.
Definition of Price Action zones in Forex
I would like to be more ellobrate on if I could but keeping things simple and easy is the way to trade Forex or any stock or future market. Trade location, Risk & managing the risk , trailing entry & targets should be define advance to taking a trade. I have done everything to provide every type of help readers need & things won’t be much easier than defining the price action zones.
Looking at the clean price action chart is really an art . Specifically when you are looking to reduce the risk and try to locate a trade & for me left shoulders are the best way to keep and eye always specially when it has history.
Traders might ask what to look for an history . History could be lean away zone on weekly chart or area where price has gone too far up or down is the best way to locate a zone on weekly & all my entries are derived from weekly chart or daily chart but no lesser than that. For entry I always look to h4 chart which for me is the best way to maximize your profit .
Chart below is of Chf/jpy which is daily chart & on the left you can see the the price created a zone & then retrace back to the left shoulder and create a price action zone when return to test the high & finally breaching that high. Trade location was just below the test when market turn to test the demand on the left. These are the location I like most because the target was more than 70 pips & stops below was not more than 12 pips.