Trend-Continuation based trade. The entry is surrounded by key support and resistance levels that are likely to be respected by price action. A trendline with multiple touches provides even more support for this entry.
Since Brexit, there are 2 instances of rejection of this zone, the 3rd one was just happening last friday. Expect price to move lower to range 1.10500 - 1.09600.
As you can see, in Chart formed an ascending triangle, which will continue the trend after 1-2 swings. I tink next aim is the 0.382 respectively 0.5 fibonacci
For this trade I'll be using price action with fibonnaci levels to find entry and exit points. I already entered the trade with low volume.
I am expecting this trade to be open for 30-60 days based on most recent price movement. Feel free to like, comment, or share you trade ideas here.
The red line is the sort of movement I am expecting.
Missed the bearish bat pattern, but looking to jump on the trend when price breaks the forming flag and set targets as if playing the bat pattern. Provides great R/R if hypothesis is correct.
Entry: 79.365
Target 1: 78.363
Target 2: 77.275
Stop: 79.815
More chances for a bullish continuation, what is confirmed by a recent multi time frame price action research, and important level zones
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Reviewing the most recent PA 1&2 period patterns we have:
1D Bearish Pattern
1M Bullish...
Hello Traders,
We have just completed a cypher pattern. This provides a good entry in continuation of a move downwards
Entry@ 101.39
TP1@ 100.93
TP2@ 100.66
Thi has a slightly inverted Risk to reward with the SL @ 101.91
As posted in a previous post I am expecting GBP/USD to make new lows with a break of 1.28000. An opportunity is now forming on the hourly to try and hop on the trend a bit earlier with a break of a counter trend line. The 1.3000 level has been rejected 3 times now and a breakout retest continuation of the counter trend line could send us lower. Targets would be at...
possible bearish continuation on the cards with a strong break and close below 78.799. first targets will be down at 77.000 then 74.000. if your also using MA's i will also be waiting for a cross to the downside as well for extra confirmation.
I'm looking for price to fill the Gap. There is a 1.618 fib ext and a .618 fib retracement right around Fridays close. I want to get short around 1.3659, stops should go at least above the structure high around 1.3790, you could go higher or lower depending on your trading plan. I would look to take profits back to the swing low 1.3205. There is also a bearish...
Hey traders! This one's a long shot but the risk is low and the setup fits my trading strategy. A bearish wolfe wave is complete after the trendline break was retested. The completion of E is confluent with the B-D parallel which is an indication that the pattern is complete and the trend may reverse. This reversal could mark the continued downturn of the pair...
USD/CHF has been trading within a small range for the last couple of days as it struggled to breach the countertrend line. however even though it is still within that range it has again closed below and retested the trend line and is looking like it is picking up some downward momentum with a strong bearish engulfing on the daily chart. a breach of 0.95910 would...
A break of the counter trend line that has formed on AUD/USD could lead to a downside continuation to make new lows. The move also has the possibility to offer a decent risk reward as well. Targets would be 0.71571 and then on to 0.69609 . Could this be a look into the future for this market ahead of the FOMC tomorrow? Only time will tell.
A look at two possible scenarios that would give decent short trades. The risk could certainly be made smaller for reward/risk profiles of 4, or better, and still be reasonably high probability trades, IMO.
CAD/JPY recently broke a long term counter trend line only to retrace back up and find resistance at the 61.8 fib level where is has stalled and become congested whilst at the same time touching the 200 MA just short by a pip or two of another counter trend line before being sucked back down into the congestion again. this is a trade that i am already in after...
GBP/JPY has recently broken out the bottom of an ascending wedge pattern after a false breakout a little while ago. A close below 153.687 could set up an aggressive entry opourtunity with mind to a continuation after a retest and continuation of previous support/resistance zone. The more conservative entry would be to wait for a break and close below the original...
