Hey guys, I've been noticing that AMZN has been repeating the redistribution pattern it made leading up to its rally and subsequent dump in March of this year. Considering the fact that other market-moving names are doing similar things(AAPL, MSFT, NVDA), I am currently anticipating a rally up to the high 130's where I believe AMZN will top out and possibly...
If you are looking for a shorting opportunity in USDJPY, you may be in luck. You can wait for the market to head into the consolidation zone to short which could be as early as the red dotted line. I would wait for a candlestick confirmation before engaging the trade.
A potential Bullish Butterfly Pattern might just catch the falling knife. I'll be waiting for the candlestick touch the furthest line of the rectangle at Point D and show me a confirmation sign to engage the trade. Retest on Point D will not be the requirement for this trade.
A Bullish Butterfly setup on the intra day timeframe which is great for intra day trader and CounterTrend trader to consider to engage on this Butterfly Pattern.
Market Overview USD/ZAR We are currently at a very significant resistance level and which could push the market lower toward 11.76002 - 9.68326 area in the long term . Monthly Take Profit 1 : 11.76002 Monthly Take Profit 2 : 9.68326
While EURJPY has a great setup for the coming week, AUDUSD might give us a surprise too, a Bullish Shark Pattern is looking to complete at 0.6865, which enables counter-trend traders for another great trading opportunity. But as mentioned, the Shark Pattern can have as many as three entry zones. Traders need to wait for confirmation signal before engaging the trade.
It seems like EURJPY is 1 of the pair that has a higher chance of trading opportunity as the market move closer to 144.16 which happens to complete the Bearish Shark Pattern. While this is an exciting news, the Shark Pattern can has as much as three entry zone, that is why it is extremely important to wait for a candlestick pattern confirmation before engaging the trade.
This Bullish Bat Pattern could be a counter-trend trading opportunity for counter-trend traders. It is good to take conservative target for the 1st target.
This ABCD Pattern is special, the completion of this Bullish ABCD Pattern coincides with the 1 on the 4hourly chart and the amazing part is that the starting point is different and the retracement point, Point C is of a different Fibonacci retracement level. That's the part that made it special. I will watch closely on the NZDUSD because when this trade gets...
After the Bearish run from the Bearish Crab Pattern, the market may consolidate at 1.0500 before the next move. At that level, there is a Bullish Bat Pattern that traders can wait for a counter-trend trading opportunity. Conservative trader could wait for a retest before engage the trade.
Bars fit pretty neatly, eh? Just a notion. Wouldn't bet the farm on this countertrend move. Get high enough to stop out bears for loss then plunge. Fibo at 4300 probably be the end of this bearmarket rally. Might get higher, might not. Prior rallies in Jan, Mar failed. This will too imo. Gamblers' Game; Vicious beast.
Do you know if you are a counter-trend trader and if it fits your trading style? We will need to analyze what a counter-trend trader is appropriate to answer these questions. Counter - to move against Trend - the latest direction in which something is moving Trade - to exchange If you put all of these terms together, a counter-trend trade is an exchange...
This is a very different Weekly Market Analysis, seldom do I share a Weekly chart setup but this is special and close to my heart, a Shark Pattern on GBPAUD Weekly Chart. The Bullish Shark Pattern is valid, if you have deep pockets, you can consider this trade, you are looking at more than 1,000pips of potential profit to only Target1. Yes! You read it right,...
There is 2 trading opportunity, it depends on which camp you belong to. Counter-Trend Trader or Trend trader. The Counter-Trend Trader could wait for a Double-Top setup within the Supply Zone(red box) with the RSI Divergence setup. Trend Traders can wait for a Buying Opportunity at the Demand Zone(blue box). There is still some time before the US Interest...
If you are looking to ride on the wave on the daily chart, either the late entry of the ABCD Pattern or engage the trade based on Potential Head and Shoulders setup, your chance is here. When the market opens wait for candlestick confirmation at 1.2369, the Bullish Deep Gartley Pattern. This is a counter-trend trade move and might inverse the Bearish Shark Pattern...
If you had followed my Weekly Market Analysis closely, you would be aware that last week I've said that the market is going to retrace from the high to 1.2475 and for those who had entered the counter-trend trade of the ABCD Pattern at the HOP level , 1.2186 not to panic. What you can do is shift stops to entry and observe if the level at 1.2475 holds on the...
A Potential Bearish Shark Pattern may form up at 1.0823. What I will be focusing on will be the candlestick pattern formation at PRZ. If the candle touches 1.0823 but didn't break and closes above 1.0805, I will expect a stronger bearish move, and that is because it completes at the Bearish Crab Pattern HOP level.
As soon as the market opens, harmonic patterns traders might head on to this Bullish Shark Pattern, but what's important is to wait for the PRZ to be completed, a touch of 1.2734 is required to validate the setup and it is to the Shark Pattern discretion if he or she will want to wait for the check back 1.2716 before getting involved with the trade.