Potential Bullish Entry Dow Theory In Place -
Higher High and Higher Low Expected in Place
Formation of double bottom coupled with bullish divergence (Bullish reversal pattern)
Entry, SL & TP Levels are defined.
Potential Bullish Entry
Dow Theory In Place - Higher High and Higher Low Expected in Place
Formation of Harmonic Bullish reversal Pattern coupled with bullish divergence at potential reversal zone (PZR)
Entry at the new HH
SL & TP Levels are defined.
Wait for the retracement into the red zone and open Short.
Use partial close with 2-3 targets, set TGT #1 at 1:1 RR
Following the SlingShot strategy by Scott Greer
Hello Trader I Found this trade setup in 4hrs Time frame which is made Distribution zone and also made buildup which indicate Bearish
Trend in this Currency and please do your own analysis Before taking this Trade. If you find my analysis is helpful for you please follow and give like
CADHKD has spent the last month consolidating and has now broken above the 5.74200 range that has been tested as resistance several times. Looking for a pull back into this range and rejection. Short/mid term targets are marked on the chart.
Happy Trading!
-Nick
I forgot to log this trade on entry.
Up 310 PIPS, this end of week price action is going in the direction indicators are painting. Still in trade will stay in over weekend.
GBP/HKD 4H Chart: Channel Up
The British Pound is advancing against the Hong Kong Dollar in a supposed medium-term ascending channel. Formation of the presumed pattern began in the end of July, which means that by now it consists of two reaction highs and one reaction low.
However, a number of indicators suggest that the second reaction low might appear in the...
CAD/HKD 1H Chart: Channel Up
The Canadian Dollar is trading against the Hong Kong Dollar in a two week long ascending channel that started to form after the currency rate left a preceding ascending channel.
This pattern is not usual, as it consists of many reaction highs and only one reaction low.
The reason behind such distinctiveness is attributed...
CAD/HKD is trading in two patterns simultaneously, i.e., a falling wedge and a channel down. The given combination demonstrates that the Canadian Dollar has failed to reach the lower channel boundary since August 9, suggesting that the current bearish sentiment might change in the nearest time, especially with strengthening trend indicators.
The last wave south...
CAD/HKD 4H Chart: Channel Up
The Canadian Dollar is trading against its Asian counterpart simultaneously in a medium-term rising wedge and short-term ascending channel.
As regards the dominant formation, its lower support line practically coincides with the 55-hour SMA, while the other line represents an upper boundary of the junior pattern.
As...
Checked the 4 hour chart and I see potential uptrend.
Retested two points of support, first one shows 0.618 and the second one shows both 0.618/0.50 which can conclude that it will in the future retrace to those levels due to confirmation from previous support levels shown in this analysis.
Looking to take profit at the 1.618 on the fib extension.
