A retrace into our previous level of structure would provide a bearish 2618 opportunity. This opportunity would also occur at the "C" leg of a potential Bullish bat pattern giving the trader the chance to extend 2nd targets and look to take profit/Stop & Reverse at the pattern completion.
Akil
"A Wild Week of Trading"
www.youtube.com
EURCHF made a double top, broke out, and looks like it may be coming back up to the .618
This lines up with the .236 retracement of the ascending triangle breakout from a month ago, and recent structural resistance.
Could take at profits at old low, but price may fall further to the bottom of the ascending triangle.
The Double bottom here on this pair is a little more rough then I would normally like to see but I like the response and the way that it is headed towards a .618 retracement. I have not shown stops and risk reward but stops can go above the high point in between the peaks and by looking left you could have an earner up to 70 pips.
Nothing too fancy today, just a nice and simple 2168 trade setup on the USDCAD. I'm still short this pair on a higher timeframe trade, but wanted to share this since the potential risk reward (depending on your rules of course) is exceptional.
Currently watching closely this pair as it made a double bottom with divergence. I'm waiting for price to go above the "V" top and retrace to the 61.8 Fibonacci level to go long from there.
Good luck, I will try to update this later.
Double Top Trade on GBPNZD M15 - Intraday Trade
The very first trade idea...so go easy on me guys. This here is a Perfectly executed 2618 Trade. Double top confirmed, price broke neckline, price rallied back up to 61.8 Fibonacci retracement of the swing low triggering the trade at 1.96387 (spread included) with 1:1 R:R...
Trade Plan:
Stops placed 10pips from the...
I'm not quite sure if I missed this trade setup for a 2618 opportunity after the double bottom with divergence. Price missed the 61.8 retracement level for literally 1 pip and went straight up. As price already retraced from the last move to the upside, I'm not quite sure if it's a good idea to enter when it hits (IF it does) the 61.8 level.
Maybe if you have any...
2618 TRADE SETUP:
* Wait for price to break the resistance near 101.800 and then wait for the 61.8 retracement to get long.
Cypher:
* Be aware of how far price goes before retracing to the 61.8 level, as it may complete a Cypher pattern, in which we would have an opportunity to go short from there and then take the 2618 setup to go long.
If price completes the...
2618 Trade:
- After the double bottom, we get a retracement to the 61.8 from last swing.
- We enter on that level with first target on the most recent highest close and stops just a few pips below the double bottom.
