A bullish shark checkback is what I'm waiting for. This Harmonic Pattern matches a retracement on a 61.8% pullback after the daily chart has a double bottom setup. 1.7767 is the level that I will be watching closely for the trading opportunity.
GBPUSD has its first significant retracement, and because of this, we have an opportunity to engage in a buying trade within the buy zone, also known as the demand zone.
I'm waiting for a check back(retest) at 1.3900 for a buying opportunity on this trend trading setup.
Well, some asked how do I know the level of rebound even before the fall happens, well that's not the main focus here.
It is important for traders to identify real traders that share their analysis before market movement than those who flaunt their trading results & luxurious lifestyle.
The main focus is at this moment the market presents a good buying...
This Bat Pattern is quite a highlight for me. I'm waiting to engage this trade only after Monday 11Jan21 1200hr(+2GMT) which is 6pm Singapore time. The preferred entry price is at 81.94. A lot of people may know harmonic patterns but they aren't aware of the rules and filters that's why the results that they are getting are not optimal.
The best part of this...
I'm waiting for a retest on the USDCAD for buying opportunity on the bullish bat pattern checkback as a countertrend trade.
What's nice about this setup is that the recent candle has a break and close above the previous structure high, with that, there's also a chance that the market may not retest on its previous low. Let's see how it goes when the market opens...
Well, I've told you there's no need to panic for crab pattern, it usually has a retest of previous low before it took off. The structure of this trading setup is also known as a sideway consolidation, although the highs(resistance) and lows(support) are not too far apart(which will affect our income potential), it is still good for meal money.
Well, in the short...
On 16Dec, we have identified the ABCD pattern during our live session and right now, we have a Bearish Deep Gartley pattern that forms up within the consolidation zone of the ABCD pattern.
No doubt, this is a counter-trend setup, it is a stronger setup then the week before as there is more indicator line up to support the pullback trade.
The aggressive trader can...
A 5-0 pattern check back on CADJPY provided a trading opportunity for trend traders. Although it is not a rosy situation especially when the candle touches the HOP level, it certainly gives great returns.
On a mid-long term, GBPUSD looks pretty bullish on the daily and 4-hourly chart. For counter-trend traders who are looking for a shorting opportunity, you can wait for a shorting opportunity within the grey box, the candle should not break and close above the grey box for a valid countertrend trade or for harmonic patterns traders, the AB=CD pattern check back.
Well, having the trade stop-out for some it can be a challenge for those to even think of another trading opportunity on this, let alone a shorting opportunity. While that is how a new trader and experience trader will react differently.
As long as the market didn't break and close above the HOP level, it is still a valid bearish shark setup for a perfect...
A bearish shark checkback setup on GBPUSD presents a shorting opportunity for traders. Not only it gives a fantastic shorting opportunity with its amazing Reward: Risk. When news is very bullish on UK Pound and it doesn't move that much, it leaves a clue of shorting. Trade has engaged.
A confirmed harmonic pattern - bearish butterfly pattern setup and touches the HOP level. I'd placed a pending sell limit order on for a counter-trend trade in view of RSI Divergence and a great reward:risk.
On the daily chart, AUDUSD is on the major support level, it does show signs of weakening of the bullish movement as the market display a series of lower-high. However, a bullish shark has completed and waiting for a retest for a buying opportunity gives a great Reward is to Risk ratio.