Still waiting for a retest at the blue zone for a buying opportunity.
The entire setup is a sideway consolidation, though, it has a stronger push to the downside, I will engage this trade should it retest as a counter-trend trade.
I will be sharing that with my inner circle should this trade is valid.
You can click our link above to see our last month ...
DXY had fallen last week from highest level over 17 months at 97.70 after completing a bearish Butterfly pattern, it is expected that prices to continue falling at this week so the last leg of a bullish Cypher pattern complete at 95.38, we could see prices retreating from that level to test the broken trend line or continue falling to levels of 93.
GBPUSD on the higher timeframe it is on its bearish move. On the H4 chart, interestingly the entry price for the bullish butterfly(cyan) is the exact price I'm exiting my Target2 on my Bearish Butterfly Pattern Type 2 Trade.
I will wait for the candle form up based on H4 chart and that will help me decide should I engag a counter-trend trade?
And if I did, ...
Hi pros !
target 1.15900 because it's .618 of CD
winning ratio: 2.5
-2 or 3% MM no leverage
-move SL to break even when 1:1 or 1:2 winning ratio
Feel free to share your toughts
Like if you agree
Have a nice week!
GBPUSD I've already shorted based off Type 2 Bearish Butterfly setup that holds the market well. Running with more than 100pips profit, still in the game as Target1 has not achieved yet!
For traders who are bearish in this trade, you can consider to look at H4 for a retest of the high to look for shorting opportunity.
Do Note that Brexit talk on 17 Oct that will ...
my 1st post ever, and still learning. *This is my view, and is not meant as advice for others to trade!
been monitoring this since AB leg. if the C leg passes 11933, this will be invalid, even though it still might go upwards.
going long for now might be an aggressive trade, but could be rewardable. To be updated if this goes to D leg and short ...
If you have been a subscriber or follower on our youtube channel or trade ideas, you would have known this Harmonic Pattern - Bat Pattern form up way before it touches Pt D, is like 2 weeks ago we have been sharing, we are waiting for this, we are waiting for this.
The overall analysis is still bearish, however, I will not be looking for a shorting opportunity ...
On the 4hr chart USDJPY - a bearish butterfly has formed. Price might retest the resistance at 113 zone before dropping. This is a great zone to look out for bearish evidence before shorting. There was insider information that banks were looking to take price to 114 before dropping it...but i think the bulls are exhausted... Use proper money management.