This week, GBPAUD introduces an element of confusion into the FX market. On the Daily Chart, two opposing trading setups vie for attention. There's the Bearish Flag Pattern, offering a shorting opportunity, yet simultaneously, a Type2 Bullish Fib3 Bat Pattern emerges. With the right filter, one can discern which trading setup is likely to be the more profitable...
As anticipated, the Bullish Shark Pattern has initiated its move on the Weekly Chart—a prediction I shared as early as October 8, 2023. For visual confirmation, refer to the chart within this Trading View post. Now, attention shifts towards the potential emergence of the bearish 5-0 pattern on the Weekly Chart. On the Daily Chart, there's a convergence of...
The Bearish Fib-3 Bat formation on the Weekly chart certainly catches the eye, particularly with the presence of a long-shadow candle. However, it's important to acknowledge that the trading setup remains unconfirmed. Waiting for confirmation may entail missing out on potential profits, to the tune of 200 pips. Here are some strategic considerations: Option...
The GBPUSD is currently exhibiting a Weaker Bullish Trend on the Weekly Chart. Upon closer examination of the Daily Chart, it appears that the completion of the Bullish Shark setup may have eluded us. The current resistance level holds pivotal importance. A close above it would prompt traders to await a buying opportunity. Conversely, if the market respects this...
The overall setup for EURUSD leans towards a Weaker Bullish stance. However, given the impact of Friday's NFP Candle, I anticipate a series of correction moves in the upcoming week. Therefore, I'll be ready to execute whichever trading strategy emerges. Potential Strategies: Daily Chart - Bearish Flag Pattern: The Potential Bearish Flag Pattern is...
Upon careful examination of the chart, it's apparent that the majority of retail traders are poised for a buying opportunity, making any talk of shorting seem unconventional. Yet, a different perspective emerges upon closer inspection. Observations: I've discerned indications that suggest a contrary approach may be prudent. Trading Strategy: I'm...
In the upcoming week, the spotlight might be on NZDJPY, particularly for those who lean towards structure-based trading methods. In this scenario, we marry technical analysis with the art of trading. Observations: A keen eye at the support level reveals an ABCD pattern checkback on the 4-hourly chart, situated at 86.84. For Fib-3 Bat enthusiasts, a...
If you caught my last week's analysis, along with the accompanying article on Trading View, you can dive deeper into the details by clicking the link. In my previous analysis, I emphasized the significance of waiting for the Bearish Crab Pattern confirmation on the Daily Chart before considering a shorting opportunity. Now, let's delve into why this is...
GBPUSD currently exhibits a Weaker Buy signal, accompanied by a 5-week long consolidation phase. Trading Decision Dilemma: The month-long consolidation prompts a crucial decision: Will it be a buying or selling opportunity? Buying Opportunity: For those inclined towards a buying stance, watch for the completion of the Bullish Butterfly Pattern...
The EURUSD displays a Weaker Bull setup on the Weekly Chart. Aggressive Approach: Opting for an assertive stance by seeking a shorting opportunity. Option 1: Daily Chart - Bearish Flag Pattern Waiting for a retest at the resistance level of 1.0620 before considering a short position Option 2: 1 Hourly Chart - Type 2 Bearish Deep Gartley...
USDCAD presents multiple potential opportunities, with a current focus on a shorting prospect. Weekly Chart Influence: The weekly chart displays a Double Top Retracement, guiding the overarching trading decision. Approach Considerations: While an aggressive trade might opt for an immediate shorting entry, I'm choosing a more cautious...
The entirety of the NZDUSD landscape is signalling a potential shorting opportunity. Technical Insights: The volatility trendline, once a counter-trend reference, has been breached and closed below. Now, we await a retest of this trendline as an entry point for a shorting opportunity. Extended Target: For those inclined, extending the target...
The USDJPY pair continues its strong bullish movement, even on the Weekly Chart, reaffirming the prevailing uptrend. Counter-Trend Strategy: As a counter-trend trader by nature, I'm on the lookout for shorting opportunities. Trade Possibilities: Weekly Chart: A potential Bearish Fib-3 Bat pattern could offer an entry point for a pullback...
The overall trend on GBPUSD continues to be bullish, making it an attractive option for buyers. Long Trade Scenario: Daily Chart: A potential Bullish Shark Pattern nearing completion at 1.1937 suggests a buying opportunity. Short Trade Considerations: Personally, I'm inclined towards a shorting opportunity. Two potential setups catch my...
Weekly analysis indicates a sustained bullish trend for EURUSD. Trading Strategy: Monitoring the 1-hourly chart for a potential Bullish Bat Pattern with an entry point at 1.0533. Cautionary Note: It's crucial to observe that point C touches point A in the formation of the Bat Pattern. This warrants caution and prevents me from placing a...
The USDJPY is currently experiencing an upward trend. To capitalize on this trend, I plan to wait for a chance to buy at the Fib-3 Bat Pattern completion on the 1-hourly chart at 149.09. However, it's important to note that both the 4-hour and daily charts show a Bearish Harmonic Pattern that completes at a similar level of 150.41. As such, it would be best to...
GBPUSD is currently at its last support on the bullish trend. If the market closes below 1.1799 on the weekly chart, it will turn bearish. For those seeking a buying opportunity, the Bullish Crab Pattern may present a good chance at 1.2132 on the retest.
The weekly chart for EURUSD indicates that 1.0452 is the Last Support. Before considering a buying opportunity, I will wait for the 1-1 pattern retest at 1.0440 on the 1-hour chart.