GBPUSD is currently indicating a Weaker Bull Trend . Here are potential strategies for different trading approaches: Trend Traders : Waiting for a Bullish 5-0 Pattern on the 4-hourly chart at 1.2334 might align with your strategy as it complements the ongoing bullish trend. Counter-Trend Traders : For those seeking a counter-trend opportunity, a shorting...
It appears EURUSD is currently within a Weaker Bull Trading setup. For trend traders, waiting for a counter-trend opportunity might be a potential strategy. Counter-Trend Traders, here are two considerations for your approach: As the market resides in the supply zone on the Daily Chart, waiting for a double top formation coupled with RSI Divergence could offer...
A retest of previous resistance on the daily chart combined with a strong bullish candle movement (an engulfing candle) is an intriguing setup. The observation of RSI Divergence at these levels serves as a significant indicator for a potential reversal. Regarding the recent deviation from the PRZ zone of the crab pattern on AUDUSD, it seems it hasn't reached the...
For those seeking a counter-trend trading opportunity, CADJPY may present an intriguing prospect. On the weekly chart, a Bearish Shark Pattern checkback is in play. For those desiring a more precise entry, waiting for the Gartley Pattern confirmation on the daily chart could provide a strategic shorting opportunity. I'm eager to know your trade plans for CADJPY....
AUDCAD has unfolded a compelling Bullish Shark Pattern trading setup on its weekly chart, offering amazing opportunities for those who engaged in the trade three weeks ago. For those who missed the initial move, a strategic move would be to await the market's respect of the Support Level on the 4-hourly chart. To identify this respect, one approach is to watch...
I've identified a Bat Pattern retest on the NZDJPY, representing a counter-trend trading setup. This trade is categorized as a combo trade due to the presence of a bearish shark pattern retest on the weekly chart. In this instance, I've opted for an aggressive approach , meaning I'm engaging in the trade before waiting for candlestick confirmation. The...
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...
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...
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 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 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...
Trading Gold and Oil. As you know, I typically trade these products on a longer-term perspective due to their volatility compared to the FX market. Recently, I have noticed a Bullish Shark Pattern confirmation on gold, which presents two potential approaches. Option 1 would be to engage the trade immediately if there is a retest at $1,819.37. This is because the...
As you may know, AUDCAD is currently on a Bearish Trend, which means that buying at this pair is a counter-trend move. However, I wanted to let you know that the Bullish Shark Pattern has been completed on the Weekly Chart with an RSI Divergence. There are two ways to engage with this pattern. The first is the Bullish Gartley Pattern, which has warning signs...
USDJPY is currently on a Bullish Trend, but I am keeping an eye out for a shorting opportunity. After analyzing the weekly chart, I have identified a bearish bat pattern that could potentially be a good opportunity to short the market. We just need to wait for a candlestick confirmation and for the market to close at 146.96 to seal the deal. Alternatively,...
EURUSD has a last level of support on the Weekly Chart at 1.0544, and closing below 1.0446 would violate the Bullish Trend. If we're looking for a buying opportunity, the 1hourly chart support level at 1.0558 could be a good fit. Alternatively, we could wait for the market to sit on the Trendline before heading in for a buying opportunity. On the other hand, if...
The Bullish Shark Pattern is yet to be confirmed, but it went lower than PRZ, which is seen as a warning sign for most. However, I see it as an opportunity that I don't want to miss out on. Here are some key points that I wanted to highlight: - The Terminal Bar produced a long shadow that provided Cover Support, which means that the level is not broken. - On...
The star trade of the week. I'm currently waiting for a shorting opportunity on the bearish shark pattern off the weekly chart. Trading off the weekly chart directly would send my initial risk through the roof. While we could always reduce our trading size when trading off the higher timeframe, it doesn't make sense to me. I'll be waiting for a bearish 5-0...