Last week the 5-0 Pattern was spotted and the trading opportunity was share in our group(link at the bottom). The candlestick formation and RSI Overbought was not the only reason that triggers me to short the market, but also on the higher timeframe, the daily chart(right) has a bearish bat setup. Although, the bearish bat pattern has triggered alert of this trade...
The market is showing uncertainty and you can spot that with 2 pairs of railway candlestick formation. For a mid to long term shorting opportunity, I will be waiting for a break-close below(BCB) the support level followed by a retracement then I'll be looking for shorting opportunity.
A shorting opportunity setup for a shorting opportunity as a 5-0 pattern as a counter-trend trade
I've been waiting for a clear sign to engage a trade, nothing beats a bullish shark pattern and at this moment I'm waiting for a checkback to engaged the countertrend trade.
A Bearish Gartley has confirmed on the M15 chart, you know that I don't usually look at the M15 but this is an unique situation. On the 1-hourly chart the bearish flag pattern has shown up and on the daily chart a range movement of 100+pips is spotted. This will be the first currency I look at once market is open and I'll make an instant trading decision on this.
Can't wait for market to open and I'll dive in for a shorting opportunity on this head and shoulders setup. EURJPY may collapse beyond the head and shoulder setup as the RSI Divergence is spotted on the daily chart which may be the start of a trend reversal setup.
We had entered a trade with bearish crab pattern check-back setup as a counter-trend trade. At this moment, it's the waiting phase, it is a test on our confidant, faith, greed and patience. At 1.2977, I'm waiting for a break and close below that level to hold on to the trade.
A bearish crab check-back gives the trader an opportunity to engage the shorting opportunity as a counter-trend trade. A check back with resistance respected can be used as a guideline of if the market is heading down it shouldn't break and close above the candle. 2pm(+8GMT) BOE rate decision will definitely make an impact on the movement.
Overall USDJPY set up for a trend trading setup. 106.74 is an important resistance level for trend traders to observe for a shorting opportunity. 105.28 to 104.79 presents itself as a buying opportunity for counter-trend traders. If market head up to 106.74 before retracing, I will wait for candle confirmation to short as a trend trading trade, however, if the...
Reason for Entry (RRR) : Counter trend trade, W forming @ 4H Support, Price hasn't retraced from previous BOS, USOIL fell, 1H hasn't closed past previous structure created (R/R Twin Trade 1:2, 1:3) Outcome : Feelings going into trade : I don't usually take counter trend trades but because of USOIL hitting my SL on previous trade, it gave me inclination to...
Today's analysis – OGN/USDT – Consolidating at daily support as it retraces from the local swing high. Points to consider: - Strong Counter-trend - Daily/Trend Support Confluence - 21 EMA Visual Guide - Declining Volume - Oscillators Below 50 OGN USDT retracing in a strong countertrend from its previous swing high as it reverts to trend support,...
this is trade 108) frm haidojo trading...fkli-july will end in few more days...so trade with caution and don't hold too long for swing trade... we anticipate the price to slide down to 1560 and 1512...now the support level at 1587 is going to break anytime soon...if it happens to break down lower to 1512, then we shall see if the counter-trend trade, bullish...
Speculative Counter Trend Gold, Impulsive bullish will be corrective in to redline area. Stochastic 4H will be crossing down.
Bullish Bat Pattern check-back on the daily chart(link at the bottom), I'm waiting for a retest on the support for a trading opportunity.
I'm still in on short on the bearish shark pattern on the 4-hourly chart(link at the bottom), as for traders who are looking for a buying opportunity, 1.2724 can be a good opportunity on the 1-hourly chart.
As the market break and close above the previous high, It has shown a bullish trend. For trend trading, I will be waiting for a retracement back into the support level and wait for a buying opportunity. Counter-trend trading, I will then be waiting at 1.1719 for a double top to engage for a shorting opportunity.
A check-back on the bearish crab pattern with RSI Divergence on AUDCAD pose a great consideration for a shorting opportunity. On the Weekly chart, it is a major resistance area, but sadly target2 doesn't provide a 2:1 reward:risk, let's see how this trading setup pans out.
Often not we will see that Gartley Pattern has a V-TOP or a V-BOTTOM setup, this causes conservative traders having a hard time to engage this harmonic patterns setup as a retest often never happens. Right now we have the bullish Deep Gartley pattern setup for a buying opportunity, let's see how this trade rolls out as a counter-trend trade.