Get started

Confluence

Head & Shoulders/Butterfly C-D leg ConfluencesThese are some of my favorite trades. Trades with tons of confluence if you do not know what confluence is, its basically extra confirmation. My first reason to take this trade was based on a head and shoulders pattern on the daily chart. On the last leg of the head and shoulders it retraced to the 61.8 which is a major fib level for an AB=CD trade. And it formed a double top at that 61.8 level. And on top of that confluence it is the end of a B-C leg of a Bullish butterfly. My entry will be at current market value. Also this trade gives us a great risk reward. These are the trades i put heavy lot sizes on. With that being said good luck and good trading.
Short
by Armaniii
NZDUSD Potential 2618 TradeThe double top at the top of the chart has in fact finally reversed price as bears took control of the market The neckline has been broken Will now wait to see a retest of previous structure levels in the potential reversal zone (green rectangle) Look at price action for shorting opportunities here The 618 retracement would be most ideal, but it was a pretty strong impulse move, we might only make it to the 382 neckline/trendline level. Of course there exists the possibility that this impulse move is not done yet, in which case this entire setup is invalid. The move could be consolidating right now for a small flag, and then continue to push down. Wait for the perfect moment to place your orders, patience is key. Happy trading to all.
Short
by NickofJupiter
2
GBPUSD: Advanced Pattern ConfluenceHi Traders, Doing my pre-week analysis and found this nice looking setup. There is a Bullish Cypher and a Bullish Gartley completing at the same level at 1.29850. Keep in mind that the safest place for a stop on this setup is underneath the post-Brexit spike low on the far left of the chart. Depending on your risk threshold, this may or may not be a valid trading opportunity. Entry: 1.29850 Stop: 1.28300 Target 1: 1.31690 Target 2: 1.32860 If you found this idea useful, leave a like or comment, it is always appreciated. Have a great trading week, and always stick to your trading plan! Luke
Long
by Beebags
2