Forex Trading Setups (05.18.2018) - XPTUSD, USOIL, SPX500

Dear Steemians, welcome to Wave Analysis...
Today, we have 3 new trade setups. Then I will update the Hotlist.

You can see the charts and brief explanations down below. But if you like to have more details please visit the published idea pages on Tradingview by clicking the name of the assets and watch today's analysis video on DTube by clicking the following image.

New Trade Setups

XPTUSD

Platinum has a great potential for upside but in the meantime, there is still chance for more down move. If the structure between the yellow lines is a contracting flat the structure between green lines should be the correction after reversal impulse and it should go up. If the structure between orange lines is a running flat, it will keep going down. But even in this scenario, I'm expecting some correction. That's why I have placed an entry order. My plan is to take the trade move stop-loss to break even and see the potential. If it breaks the previous bottom, I will move the entry price and stop-loss accordingly.

USOIL

In USOIL I'm still expecting a down move for the completion of the bigger corrective structure which probably will be a running flat before next up impulse. That's why I will take a short trade, then I will buy it.

SPX500

Another short trade setup in SPX500. My short term expectation is a down move to 2490 because the structure between yellow lines looks like a correction and there is a strong Fib confluence at 2490. There is a chance for a much bigger drop but I think it will go up one more time first and create a running flat before it falls.

Updating of Hotlist Items

Active Trades

USDCAD: I hope the up move was the whole correction and it will keep going down. Now, I'm waiting for a flag to take my second short trade.

USDJPY: It keeps going up and I'm still waiting for a drop or a correction to take another long trade.

GBPCHF: Leave it alone. At least wait until it breaks the down trendline.

CADJPY: I took my second long trade after breakout. There is still chance for one more down move. But if it doesn't break the uptrendline my trade will be ok.

CHFJPY: Wait for a correction to take another long trade.

XAUUSD: There is still chance for an up move, which will break the top at 1365, because we are still in uptrend, but I believe it will make a correction for more down. We will see, it's too early to say, leave it alone.

XAGUSD: I'm waiting for some more up move to close my trade manually.

XPDUSD: Leave it alone.

Waiting for Correction or Breakout

GBPUSD: Wait for the breakout, wait for a small correction in 15m then take the long trade.

EURNZD: It gave 2 chance to sell in 15m but they happened in night, so I was sleeping. Now, I'm waiting for a new correction to take a short trade.

AUDJPY: I'm waiting a correction above the trendline to buy.

You can visit the published idea page on Tradingview by clicking the name of the asset. If you like to see more details and explanations about this trade setup and updating of Hotlist items you can watch today's video on DTube by clicking the following image.

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Until next time, trade with care.

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What is Hotlist?
Hotlist a short list, which contains charts that were shared in previous days. So, today's new trade setup will be in the Hotlist tomorrow, and I will update its status every day until I remove it from the list. Each chart will be in the Hotlist as long as we have an active trade or a pending order or its trade setup remains valid.

Disclaimer:
Don't invest more money than you can afford to lose. Trading carries a high degree of risk. Everything here is my personal opinion, should not be considered as trade calls.