I see a Bearish Bat pattern completing around the 1.6250/6300 levels. This recent move up is mainly due to the the movement of the AUD rather than the EUR.
President Trump pushing for a tax on the US$200B China imports towards the end of last week was the probably the root cause of the AUD weakening significantly. AUD is the closest proxy of all the G10...
A Rising Wedge Formation with candle shows below its resistance, in addition to RSI Divergence builds a good case for me to short the trade.
Should the H1 candle close below the resistance, it build a stronger case.
Targets, Stop and Trigger Decision will be shared with my inner-circle
Bearish Bat Pattern formed up.
If the candle close as pin-bar as shown, when market open a new candle(D1 chart), I will short the market immediately.
Alternatively, traders can head to your lower timeframe and wait for trading setup.
D1 chart shows the market is at its resistance and bullish movement may start to show loss of momentum.
Based of Support and Resistance, this is my trade plan.
A Bear Crab formation spotted and I traded, the reason being market has retested the previous high based on H4 and resisted at that point.
And..
It's a Crab pattern, that often gives better Reward:Risk
Spotted a long opportunity for trend continuation trader(based off D1 Trader)
Lots of signal showing up at this pair in both Bull & Bear direction on both D1 & H4 chart. Chances are a choppy market for this pair for a week or 2, let's see who wins the battle.
Just managed your Reward:Risk well and wait for the signal candle to engage the trade or manage the...
Pretty Interesting setup as we have conflicting signal on USDJPY.
Don't get me wrong, on the Weekly Market Analysis based of Daily Chart market is still perfectly bullish. But if we head down to H4 chart, it is screaming out loud
SHORT SHORT SHORT SHORT SHORT
EVERY-BODY
Well, fun aside, traders just take note on the pink zone is where traders of higher...
What a great week right. Last week I've shorted the trade based on bearish crab formation, though it is a bit shy from the sell zone(pink box) I was looking at, it is good enough as the market direction was pointing at the same direction I'm looking to trade. A trade is a trade.
In this coming week, I'm still waiting to short in the pink zone, note that the bear...
In this week, Weekly Market Analysis you can find that the closing candle fails to break above and close above the pink zone that symbolised shorting opportunity.
This week analysis I'm still looking at a shorting opportunity.
In fact, I've already engaged the trade on Bearish Shark formation that forms up on H1 perfectly.
Not my usual style to post Harmonic Pattern before the market cross Pt B as I always see that as too early to do it.
As I'm so involved in this trade, I just wanna let my readers know what I am waiting for and how I build my case of entry for the coming trade.
Was staring this for days, initially was waiting for double top with RSI divergence, guess I'm good even with Falling Wedge with RSI Div.
You have to know your plan and of which is the mode of engagement.
Follow your plan
Shorted this trade, using SL base on Butterfly as the stop is still above the X leg of Bear Bat.
Taking conventional target based on Butterfly but Target2 I'm watching closely for the completion of Bull Shark.
This is what I call Pattern over Pattern
There are 3 targets I'm looking at, 1st level will be where the arrow ended.
Target 2 previous recent low and Target3, your guess ya.
Do your own analysis for your trade and remember always to place a good stop.
A shorting opportunity presents itself on this Deep Crab setup. Deep Crab often present a healthy Reward:Risk and to top it up, it does have an RSI Div when the market Double Topped.
Look left, there's structure.
A Deep Crab formation often forms a healthy Reward:Risk, in addition, RSI Divergence is formed add on to the attraction of the trade. Guess what, look left there is a structure, there is.
Look at the block of consolidation.
Although, the market has not touches the sell zone, but Crab often shows a great Reward:Risk.
This trade was engaged as a Class C Trade.
In Forex100 Academy, a Class C Trade is the 1 we risk the least, at least most of them are.
