rufffen XAU spot gold and majors trades

[rufffen]

This one you just can't miss out on.

SPOT GOLD

SHORT break below 905 TP 870-880 SL (previous high before it broke 905)

...forgot to post a chart.

Also, will post trading zones for the month of april in 15 minutes.

[rufffen]

DUBLICATE POST - ALSO AVAILABLE AT THE POST #1 of the thread.

ZONE TRADING RULES. UPDATED APRIL 2008.

I post weekly trading zones for majors on regular basis. Here are some
tips to trade zones, also some explanations follow.

SUP ZONE1 SUP ZONE2 - support zones. Zone 2 is the strongest.
RES ZONE1 RES ZONE2 - resistance zones. Zone 2 is the strongest.

Basically, you look to buy in support zones, and you look to sell in resistance zones. BUY in support zones when the trend is up, SELL in resistance zones, when trend is down.

PIN BAR to confirm reversal. On 1 hour chart you look for a pin bar setup to confirm price action reversal, once the price enters SUP/RES zone. Pin bar is a bar on the chart that has a long protruding wick or so-called nose. PIN bars are a good way of establishing a valid reversal in price action.

Confluence explained.

When weekly/monthly zones are combined for trading, intersection of 2 zones produces the greatest results. ALMOST 99% of the time price will reverse in the zones that have confluence.

Here are monthly trading zones for april 2008.

SUP ZONE2	Trading zones for the month of April 2008
A1	EUR USD 1,4609	GBP USD 1,9048	USD JPY 88,2659	SPOT GOLD 774	BUY1
A	1,4886	1,9307	91,4900	823
SUP ZONE1
B1	1,5163	1,9565	94,7141	872	BUY2
B	1,5249	1,9645	95,7100	887
RES ZONE1
D	1,5974	2,0322	104,1500	1015	SELL2
D1	1,6059	2,0402	105,1459	1030
RES ZONE2
E	1,6336	2,0661	108,3700	1079	SELL1
E1	1,6613	2,0919	111,5941	1128

[rufffen]

SPOT gold update

15-20 minutes since I posted a setup in post #73, gold dropped almost 15 dollars, which is 15*100 = 1500 points.

Enjoy this trade the TP level has not been hit yet!

[rufffen]

Quick update EUR JPY

I favor downside with the 1 hour chart, TP zones on SHORTS are weekly zones:

154.92-155.28 ZONE1 - break below 15600-15620 will indicate high % trade
152.58-153.75 ZONE2 - break below 15460-15480 will indicate high % trade

SL - both trades - set SL previous high on 1 hour chart

[rufffen]

Quick EUR JPY GBP JPY update

The previoud setup was not triggered, as the price action moved into weekly RES ZONE1 and broke through, now targeting RES ZONE2.

ON EUR JPY

Break above 15990-16110 will indicate upside with targets 16440-16460,
however reversal in 15990-16110 will indicate a pullback towards previous levels at 15540-15580. The 15990-16110 has to be triggered first to decide further direction for the trade.

ON GBP JPY

WOW, did you guys see the 1 hour-300-pip candles yesterday? Not a pretty sight, when you get on the wrong side of the trade.

IF 201.20-201.40 holds, expect further sharp gains, up towards RES ZONE2, which is 203.25-204.86 this week.

Break below 201.20-201.40 area will indicate further downside capped with 199.20-199.40 area.

trading strategy is to trade breakouts of the indicated zones.

[rufffen]

spot gold quick update

Also this is unlikely that it will break the recent low at 872 this week, break below this level will indicate further downside capped with 838-844 area initially.

Made good money with the spot gold trade this week. Also, notice, how the spot gold fell directly into SUP ZONE 2 (872-888) - exact low was printed at 872.80 on my platform. nice. And when it reached 872 in then proceeded to reverse quickly.

This just is another forward-tested example of how precide the zoning tools could be.

Anyway, Im happy, good run on EUR USD GBP USD, spot gold, missed out on EUR JPY / GBP JPY, I guess better luck next time. The week is not over yet!

[rufffen]

gbp usd update on post #72

reversal trade resulted in a loss of 20-40 pips. However, I still favor downside targets with caps at 9600 9400.

Recommended trade this week/next week (although next week trade setups will be updated over weekend).

Wait for the 2.0003-2.0074 zone to be triggered, SHORT with SL +50 TP 9840 9780 initially.

[rufffen]

EUR USD 4 hour pattern - see chart for details.

I would wait for the week close and new week SUP/RES zones to take this trade.

SHORT at current market price (5727) SL is 5780-5840 (risk 60 points) TP 5420-5440 (300 points).