Entry at 161,8% Fibo of XA confirmed by old support. TP 1 at 38,2% Fibo of AD confirmed by structure. TP 2 at 61,8% Fibo of AD confirmed by structure. SL a few pips below the candlestick formation. Countertrend trade.
I'm currently looking at Double Bottom that formed on 4H on EURUSD - we can use it as entry reason since, bearish trend stalled right at 1.414 minor fib inversion. We have RSI Div, that is another point for the counter trend opportunity. We have a potential TC trading opportunity if price goes at the reversal zone - we have fibs cluster there + structure level....
We broke this same setup down in the Live Trading Room yesterday, yet never got the pullback necessary to get involved. We've since pushed down a little further and have double bottomed but the same opportunity exists. We just had to adjust our analysis slightly. As we look to start today's trading day this pair will offer a long opportunity to some with price...
While waiting for an entry for the counter trend opportunity, market presents a potential trend opportunity on USDCAD We have a potential Cypher Pattern - it is nice way to enter long and retesting the high with stop below previous major structure level. If price doesn't fall, I'll be looking for the counter play - we have a fib cluster right in our potential...
I'm looking at a potential counter trend trading opportunity on USDCAD. We have a conjunction of harmonic move, fib extension and structure level. Once price goes to our potential reversal zone look for your entry reasons. This structure trade presents low risk and high potential of reward for those of you who want to ride this boy down to previous structure level.
Counter Trend, but Strong Bull Bar on 240 Chart. Looking to Tighten stop as soon as possible. Not a lot of head room for profit.
Very clear and simple 2618 setup here on AUDCAD. Nice second target confluence just above the 0.97 psychological resistance. Entry: 0.97770 Stop: 0.98230 Target 1: 0.97230 Target 2: 0.97020 Keep in mind that the 2618 strategy has a win rate of 55-65%, and a R:R > 1:1. Trade it if it is in your plan and you have done the backtesting on this strategy. Remember:...
Looking at the higher timeframe on Weekly, we are seeing price forming a potential double bottom divergence. Also at a lower timeframe - H4, we do have a divergence as well. But looking at the price action, there is still no clear sign that price is ready for turn. If you are more conservative, it would be best to wait for at least a price action confirmation...
this was a potential opportunity that I had on my radar yesterday, unfortunately the markets decided to do absolutely nothing but go sideways creating a channel. If we breakout of this channel to the upside I'll be looking at a third harmonic move setting up a potential selling opportunity as we come into previous structure resistance starting at the 187.40's...
Here are our 2 next levels of interest, we will also be watching the lower timeframe for some entry techniques
We have another harmonic moves on FX:EURNZD . This is ABCD pattern, which is almost completed and it is a good time to go long. We have a very nice structure at this level, look left and confirm. Our targets will be 1.7370-1.7570 levels. But watch 1.7292 level, it might be a hard shell to breakout. Avto_T Green Luck ----------------------------------- ATTENTION...
Hello traders. Today on FX:GBPUSD we have a very nice shorting opportunity. The price has made perfect double top @1.5470 at very strong structure resistance level. For more confluence look left or switch to daily or 4h timeframe to see it better. Then price broke the neckline and went back @fibs 61.8 which gives us a 2618 setup and very nice shorting...
I have a handful of trades on my radar today but I wanted to concentrate on the GBPUSD this morning because of the multiple opportunities. The main trade that I’m looking for is the Bearish trend continuation setup. This market has clearly broken structure to the downside and if we get relief we have an excellent structure level to predict where our next pullback...
1. KD + double top & break of the structure (through the purple line). 2. Price back in the channel & retesting broken structure resistance at the moment. 3. Missed daily pivot at 192.70. Go short targeting missed daily pivot or 50-61.8% fib retracement of the recent impulse up. SL goes above the recent highs. It's counter trend trade so be carefull...
This medium-term trade is good because it happened right at the beginning of the day. This means that there was a real stack of supply at that price that wasn't filled in. Prices moving back in that would give an opportunity to sell the Pound against the Swissie again. The problem with this zone is that it is merely a continuation of the down move beforehand. So...
Bullish Bat Pattern here on XAUUSD that's looking to be putting in a double bottom at the completion point. (You may hav eone already on the LTF). I say looking because on this 4hr timeframe the current candle won't close for another 2 hours or so and as we all know the close is very important to the story that the market is telling us. If you take a look at...
UPDATE FROM YESTERDAYS TRADE: After the sell off this morning EUR/JPY is re testing its 4h trend line which came into play yesterday, fresh lows of 133.90 but failure to close at these levels show potential further downside to my target of 133.50. RSI is still holding its downwards trend, plus Ichimoku shows that we've had a cloud crossover as well as a TK...