Greetings, dear friends!
By the end of the week we are preparing a short overview including the description of entry points that have worked out. The middle of the week was excellent - the forecasts for currency pairs, metals, and raw materials market were working out. Just one stop has worked out; taking into account 8 signals received the win rate made up about 90%.
The number of recommendations offered this week was a little smaller than usual; next Monday things will get back to normal. Let me remind you that in addition to analyzing the market in text format, regular market video reviews are taking place on our YouTube channel in the morning. Don't ignore them, as part of the entry points that will be covered in this overview were taken from there.
Those who haven't yet started studying Horizon X strategy I recommend to follow the link below and get the first lessons. For now the special course is free, all you need is willingness to study and some free time. In return, you’ll receive a universal strategy with a win rate of around 80% and a monthly profit of over 100%.
Tuesday entry points
We've received several signals:
- XAUUSD - upon getting back to trading area, M-shaped construction was received, then breakout and retest of its minimum from below were observed. That was considered a signal to sell. At the moment of entering the market stop made up 42, and take profit - 60 pips. The ratio of stop and take profit was about 1 to 1.5, such signals are to be taken into work. As a result, the chart has reached take profit on the same day;
- GBPUSD - signal to buy was received from the zone of the previous trend shift. Take profit at 1.2698 wasn't reached, but profit of 12 pips was gained by the Safe rule, which is also a good result. At the moment of entering the market stop made up 13 pips;
- CADJPY - bullish setup has worked out perfectly for this deal. At rebound from support we've opened deal to buy, expecting the movement of at least 20 pips to take place. The chart has covered that distance, and the profit was taken at a risk of only 6 pips by stop;
- Brent - a perfect reversal pattern of Horizon X strategy was received on Tuesday. The chart has tested from below previously received resistance, which provided grounds for entering the market. 9 pips were taken under the baseline scenario at a risk of 8 pips by stop. A more optimistic scenario has worked out as well - the chart has continued the downward movement and reached the next support, which could have provided 25 pips of profit.
- At the end of the day, bullish pattern has worked out on AUDUSD. An unsuccessful attempt to break out global imbalance level led to reversal pattern formation, and a deal to buy was opened at the retest of its overall maximum. Both goals were achieved, at partial profit fixing 11 and 21 pips respectively were earned. Stop didn't exceed 7 pips;
- GBPUSD - signal to sell was received on May 29. Initially, priority was given to bullish positions, but the relevant pattern wasn't received. Instead, support breakout has taken place, and one should have opened short positions at its retest. Take profit wasn't reached; profits made up 7 pips by the Safe, stop - 13 pips;
- NZDUSD - scenario including breakout of the global imbalance level and opening deals for sale has worked out in the middle of the week. The only disadvantage to point out - consolidation under GIL hadn't taken place, so novices could have avoided taking this entry point into work. Yet, both goals were achieved, the first one provided profit of 12 pips, and the second one - 44 pips. Stop made up only 8 pips.
There was just one opportunity to enter the market that day. One could gain from 20 to 40 pips on this deal, depending on how you prefer to fix profits.
Resistance in the form of an incomplete impulse level has worked out. Trading zone of 1.2637-1.2645 was located in the same area, so the GBPUSD pair had no chance to consolidate above that zone. Sales from 1.2637 were closed at the nearest imbalance with a profit of 21 pips; stop made up 11 pips. Provided trailing stop had been used, profits could have been doubled.
Forecasts were issued for M5-H1 timeframes, so if you were following our trading recommendations, you could have an opportunity to use all the entry points. Small stop was received only on the CADCHF pair, and it was covered with a large margin on the same day.
Chart setup is not particularly complex - this is one of Horizon X strategy features. Everyone is able to master it, even an absolute novice. You will increase your deposit from the very first month of trading.
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