After a week, EURUSD didn't create a new low on the daily chart. I'm waiting for a counter-trend opportunity. On the 1-hourly chart within the 4-hourly buy zone, there is an opportunity that awaits, at 1.1881 I'm waiting for a buying opportunity. Candle confirmation at that level became important to the trading setup.
A Head and Shoulders retest is not exactly common. Since the market has stabilised from the fall, it is a good opportunity to reengage the trade. The previous high would be the area I'm looking to shift my stop to entry and I'll observe closely at that level. Break and close above the high at 0.7850 would be preferred.
Well, the market has spoken, the setup is more of a bat pattern than a shark pattern. The ideal situation right now is that the market head down towards 0.7733 and rebound to 0.7785 and give us an amazing shorting opportunity. That pretty much looks like Hollywood trading, well jokes aside Type2 Bearish Bat setup waited at 0.7785 for the shorting...
A bearish shark setup looms on the weekly chart. While waiting for the pattern to touch 131.58 and confirmed its setup, I'm waiting for the opportunity in the lower timeframe for a buying opportunity.
If the market retraces back to the yellow zone, the action on USDJPY will be on this timeframe, the 4-hourly chart. If the market shows a buying signal without breaking and closing below the low price within the yellow zone, I will be looking for a buy, however, if the market break and close below the yellow zone, I will wait for a retracement back to 108.70 for...
Although on the 4-hourly chart there is a potential bearish shark pattern, I'm waiting for a touch on the trendline for the shorting opportunity. A setup like this is clean and can offer great Returns.(if you know how to maximise it)
This is a valid Butterfly Pattern setup. You might ask why is that so? It's because the Stop-Loss wasn't triggered. It has also reached the 1st target. At this moment I'm waiting for the market to retrace back to the black box for a type 2 bearish butterfly shorting opportunity, breaking and closing above 1.1989 will invalid the pattern.
Have you shorted this wonderful setup? The beauty and challenge of this trade is that it has a Bat Pattern within the Shark Pattern. The good thing is that it completes at the same point and the bad thing is that by the rule of it, the bearish bat pattern has a stronger influence over the bearish shark pattern. Either way, I'd shifted stops to entry and observe...
A Bearish Butterfly Pattern is about to form up. Later at 9.30 pm (+8GMT){about 4hours and 45mins}, there is an ECB press conference, will your trading decision get affected by that? Well for me, it's likely that I'll hold back by the trading decision as this Press Conference is going to address a few issues. Let's see if we can use trendline to catch onto the ride.
A Head and Shoulders formation that we had engaged and gotten a headstart. Traders who are looking to engage in this trade can wait for the candle confirmation on the trendline, at criteria for it is that the candle shouldn't break and close below the trendline.
A retracement that touches the trendline without breaking and closing above the trendline will give a great opportunity to head in for a shorting opporutnity.
USDJPY it's on a bullish trend, trend traders who are looking for buying opportunity can wait for the candle rest on the trendline without breaking and closing below the trendline for a buying opportunity.
GBPUSD is in a consolidation zone, which means it didn't give a definite trend because the bullish trend is broken but there isn't 2 break and close below the previous low to form a bearish trend. A retracement back to 1.3950 gives a good shorting opportunity.
On the 1-hourly and 4-hourly chart EURUSD is on a bearish trend, if you are looking for a shorting opportunity, you can watch closely at 1.2006.
Trading at X is 1 of the trading strategy I employ when it is a Deep Gartley Formation. It has proven that it does more benefit than harm to me. I've engaged the trade with a very tight stop with a 2:1 for my 1st target. Although the setup doesn't look promising but let see hot it spin out.
A mild RSI Divergence on Head and Shoulders setup. RSI Divergence is critical and it's a make or break criteria for me to head in for a trading decision on the potential head and shoulder setup.
Within the Buy Zone(Demand Zone) we have a Bullish Shark setup. Yes, we can expect a Type2 Bullish Shark setup. Candlestick confirmation is important before engaging the trade. This is because having a type2 Bullish Shark pattern means that the previous Bullish Shark has hit the 1st target and traders might exit the trade which can weaken the bull run.
EURJPY is in an uptrend, the trendline will give an opportunity for us to engage in the buying trade. A break and close below the trendline will invalid the trade.