Divergence in 4H,
This can be a possible sign of reversal, BUT as this is a counter-trend setup,
Please enter with appropriate RISK.
only Enter If we have strong Bullish confirmation in M15 or Above.
The MorningStar Forex
I am still bullish on BTC overall.
Looking at a short term short trade which is approx 4:1 risk reward.
For me to take this trade i need the following to happen:
-LH or Triple top with good sign of rejection
-Break of 1hr trend line
-Break of support line and retest to confirm its resistance
only if these three things happen I will take the trade as this is...
Link to Related Idea Below...
Price Low EURUSD: $1.16514 Tested and Held at $1.1652 Locally!
As of the moment of publishing EURUSD Price: $1.1673
I break down the target prices for WXY & ABCD Patterns:
ABCD(revised) 1.618 Extension Target = $1.16507 (EURUSD Low=1.16514) Fractional miss; Target Considered Hit !
WXY "Y" 100% Extension = $1.16426...
This is a new 20 day low failure of breakout - with a confirmed reversal on daily chart ( high of yesterday broken) to upside.
Obviously risky as counter-trend, but high risk is compensated by tight stoploss -77 pips for +225 projection and
volume point of control line target. Also equals last rally on dailies.... ( Double drive theory).
With the ANTY set up - oversold on modified Stochastic, and new up sloping slow line,
possible buystop entry if breaks above Friday's high. Expect a 'pop' with short covering of at least 90 pips...
stoploss below recent low -65 pips.
This potentially could form a 2nd higher low on daily charts, which ceases to be strongly bearish and attracts buyers.
Looking to see a reversal here using 80-20 strategy : previous day in overall bullish on dailies then have :
1. Open in upper 20% of previous days range & close in lower 20%
2. start of asia, a slight lower low by 10-20 pips then reversal back into previous days low
3. stop loss below today's low by 10 pips, should go into profit quickly
* low probability / low...
This is a strategy from the book, 'Streetsmarts' developed by Taylor and adopted by Larry Connors
For sell signals on NZDUSD:
1. Y'days high is signal for short when market opened in bottom 20% daily range and closed in upper 20% range ( Fri)
2. Today the market must trade at least 5-15 pips higher than yesterday's high
At this moment we have a share that we could have a significant setback in its downtrend, which is backed by the 80 SMA and a strong area, therefore this trade will be executed only when it reaches the area of 217.5 and vary from market strength.
Anticipating small bounces in all markets during the first part of this week as some traders are hoping this was only a correction and others are taking profits from shorting last week's dump; however, I'm convinced we are looking at the beginning on the next recession so I have multiple shorts opened accross multiple markets and looking for counter-trend trades...
Waiting for long stops around 49-49.5 to get hit, with initial TP at 38.2 fib near 55 psychological level, and 2nd TP at 61.8 fib. Most likely it will go go ranging here in 50 psychological level for some quite time before rallying soon after being oversold especially with the risk of corona virus spreading being more controlled now compared to 2 months...
Hello fellas! So, here's what EURUSD has been doing:
- It completed the butterfly pattern at 78.6 X-A;
- It completed the ABCDE wave count on 4H channel; and
- It's showing a reversal sign after showing the lower trend line of the 4H channel.
All at the same price area!
Still, it's much safer to trade with the trend, and this is a counter trend analysis! So it...