The bullish bat setup for precise entry and minimum stop.
A bullish crab setup with an AB=CD equal distance movement and Bullish Bat pattern on the M15 just sweeten the deal of this trade setup. For a more precise entry, traders can wait for M15 chart for a candle confirmation before engaging the trade.
With a strong bullish run on USDJPY, I would be much confident when the candle break and close below the trendline(Blue) and retrace back to the entry price(type2) before I would consider engaging the trade.
isI shorted this repeated pattern on the spike that forms along the uptrend channel. The Bonus of this setup is that my MT4 connecting to the live data detected an ABCD pattern, the black eclipsed on this diagram is amendments to this demo data that this movement didn't occur on my live data. I will watch closely how the price reacts at the bottom trendline of...
A bullish bat setup and confirmed, I'm waiting for a check back/ retest in engaging the trade.
A retest of support on the trendline and a reversal candle that break and close above the previous high(yellow eclipse), signal a potential reversal setup. Trend Engage based on counter-trend trade, that means I would not stretch for an extended target.
***This is an online journal entry.***. As previous entries on my profile i am still learning how to be a Harmonic Trader. I am not a big fan of the crab patterns as they extend quite a bit past the XA leg. Originaly when i started trading patterns I admit i ignored the importance of the AB=CD. But, after reading the Books written by Scott Carney the back bone of...
Bullish Bat setup as a counter-trend trade, as Australia Dollar is rather bearish, this trade pose as a high-risk setup. Why would I still engage the trade? Well, the level is well supported and I do expect some retracement before the next crazy downwards movement.
RSI Divergence on USDCAD, the market has tested monthly chart previous high, a good level to consider for a counter-trend trade. A candle confirmation is still required before taking the short trade on this rising wedge
An ascending triangle is seated nicely on the trendline, an aggressive trader will still need to wait for the close of this candle and decide should they still engage the trade.
Daily is still bearish. Will USDJPY hold its ABCD pattern in this counter-trend trade in the 1-hr chart? We shall see TP1: 107.29 (188pips) TP2: 108.46 (305pips) SL: 104.44 (-97pips) Open position at: 105.41
GBPAUD is a very volatile pair; to trade this, one must have a mental preparation that market can still reverse against you after riding on a 100pips+ profit. Now this present as a third-chance entry to engage this trade of the countertrend trading. You might be asking, "Hey then, why is this trade still in your list?" Well, the volatility of this that attracted...
A break of the trendline(daily chart) may be a sign for a potential change of trend. In this situation, an appreciation is seen as a false recovery before a significant dip in this currency. I will be watching closely to see if the check-back of this butterfly pattern provide an opportunity to engage this trade.
A bullish bat setup on the 1-hourly chart is near the bullish bat setup on the weekly chart(chart link at the bottom) even that is the case, a candle confirmation is a must before considering in engaging this counter-trend trade.
Aggressive Traders can wait for a bearish engulfing candle and consider if you love to engage as a double top setup. Conservative Traders can wait for a break and close below the trendline and retrace back to resistance before engaging the trade.
I'm planning for a counter-trend trade on EURUSD, the motivation behind this is because, after a strong appreciation, I'm expecting some form of retracement and a bullish movement continuation will be stronger and more persistence when the market retraces back to the buy zone before further appreciation. Two approaches to the market I'm waiting for. First, a...
A bearish shark pattern that converges with the 5-0pattern for a shorting opportunity forms at the peak of the band isn't that great? Don't underestimate the small wick over there, it is close to 50pips difference, and the tip of the 5-0 Pattern happens to be the HOP(Harmonic Optimal Price) on the bearish shark setup. I've placed a sell limit order to engage...
A bearish bat setup, X form at the consolidation structure before the drop of gold. This trading setup is an opportunity for both counter-trend trend-reversal trader to engage for a shorting opportunity; the only difference between the two is the target profit area. Trade has already engaged, what're your thoughts on this?