A bat pattern was formed, the B point of my LIVE chart is much lower hence triggered the bat pattern. What's nice about this setup is that on the completion there is an RSI Divergence. Take note on the Target1 as it's an important level for you to place your stops to entry.
On a mid to long term I'm looking for a buying opportunity on GBPJPY, I'm looking to long once the candle touches the trendline but not able to break and close below the trendline. On the other approach, I am waiting for a double top to form at 137.73 level for a shorting opportunity.
In the coming week, there will be Brexit talk, the outcome of it doesn't seem to favour Euro, in addition, JPY has been the currency for traders to head in to long as a safe haven currency, by having this combination I'm looking for short EURJPY once the market break and close below the trendline.
On Friday, there is a steep Euro appreciation, a market retracement is a common scene, I'm waiting for the trendline break for a shorting opportunity as a counter-trend trade.
this is trade 194 frm haidojo trading... discover a new trade, possible bearish bat pattern...as consolidation breeds advanced patterns... entry at short 1531, SL 1545, 1st tp 1515, 2nd tp 1492... the rest remains the same as trade 193)... higher-resistance : 1557-1570 ( bearish bat and gartley patterns) resistance : 1531-1540 (bearish bat pattern) ...
Well, you can wait for a check-back on this bullish bat pattern at 123.20 to long but that's not what I'm looking for, in fact, I'm looking for a shorting opportunity at its target2 area at 123.80 on a Mid to Long term trading opportunity.
A simple potential head and shoulders formation without an RSI divergence. The candle is above the 2 moving averages, would it be something you will be trading?
AUDCAD just had a trendline break and it's rested above the 2 Moving averages, as a structure-based trader, it is a good trading setup to consider to a buying opportunity. The recent bearish candle acts as a pullback for both conservative traders or traders that had missed the buying opportunity.
I am still holding my longs on USDCHF, and I will be looking to add in on the break and retest of this counter trend-line to confirm.
Short term trade idea: Pattern wise within Nasdaq - Double bottom, measuring it comes to 38.2 Retracement of Fibs which is matches nicely key retracement area. Above 11270 Area bullish with the resistance areas of: 11480 - 11560 - Target area for double bottom = 11815 - 12000 area. Below 11085 Area Bears could come in control with key support areas of: 10930...
FX:NZDCHF One that has been on my radar for a while now, I will be waiting for a break of this counter trend-line before jumping in. I think this could be a really nice swing, so one I will stay patient on!
I've shorted GBPJPY and a support and resistance trade, it is a trend trading trade with a very tight stop.
9/26 XAU BROKE THE TRIANGLE TO THE DOWNSIDE AND CURRENTLY IS IN THE BUY ZONE THERE WAS A RARE TWEEZER BOTTOM MADE ON FRIDAY WHICH MEANS WE SHOULD SEE THE MARKET START TO PUSH BULLISH. WITH THE USDX BEING OB WE SHOULD SEE PAIRS CORRELATED WITH THE JPY, EUR, AUD & NZD SHOW SIGNS OF RETRACEMENT BEFORE STARTING TO PUSH AGAIN BEARISH. IF THIS HAPPENS THE PAIR WILL...
9/23 XAUUSD HAS STARTED TO BREAK BEARISH AFTER A LONG RUN UP TO 2072 AREA, THE WEEKLY & DAILY WILL BE CONSIDERED SHORT TERM BEARISH BASED BROKEN COUNTER TRENDLINES AND RETESTS THAT HAVE CONFIRMED THE DOWNSIDE MOVEMENT. ONE THE 2HR WE OUR STUDENTS TO A TRADE AFTER A BROKEN A TRIANGLE TO THE DOWNSIDE TARGETING THE 1830 AREA. IF YOU MISSED THIS ORGINIAL MOVE HERE IS...
Week 39: 21 to 25 September 2020 FCPOX 2020 analysis Despite the bullish momentum is very strong, personally we can short FCPOX2020 with a very good Risk Reward Ratio. We only need to risk RM24 to get RM336, that is 14R. Again, this is a risky move as we are trading against the trend, but, this is a worth trying. Here is my personal trade: Sell at market now...
The bearish engulfing candle gives a strong indication of a bearish run on this trade. I'm waiting for a retest back to 0.6777 to engage the trade on the 1-hourly timeframe as a counter-trend trade.
Weekly analysis for ZSX2020 Week 39: 21 September to 25 September 2020 Currently the price is roaming in an unchartered territory, we have no reference on how far the price will go higher. Instead of speculating on how high it will go, as a trader, we take decision on a signal that has a higher degree of certainty. Therefore, we are setting a Sell Stop rather...
Counter-Trend Trading Opportunity on EURUSD Daily chart, so why do I short it? Well on the 1-hourly chart there is a candle confirmation and on the daily chart the uptrend movement kind of look weak to me. Looking at candle close this probably be it and I expect at least some form of retracement happening within the next few days. Trade has already engaged as the...