Reason to entry: -Divergent and Overbought RSI -AB=CD pattern -Double top form at 141.4 extension of Butterfly pattern -Valid pattern Entry: -141.4 or 127.2 extension of Butterfly -if pattern goes higher, re-entry at 161.8 extension Exit: #1 38.2 retracement #2 61.8 retracement Void if: -price breakout 161.8 extension -price make new high and invalidate double...
Bearish pennant formed indicating a continuation of the downtrend. This market is coming up to an area of resistance which should trigger some movement to the downside and make a new low. NFP later this week so hopefully out before that.
Looks like a double top pattern is forming on the UJ 4hr chart. Price could head back down to test 113.66 support level. Which would also be the neckline. If price breaks the neckline/support. Price could head to the 111.89 area of support. We shall wait to see how Friday NFP holds up.
- Reversal formation identified on the H1 chart. - RSI is very close to overbought conditions (Daily chart) - These formation normally give a good 1:1 risk/reward. Cheers!
Hi traders, price recently broke the wedge pattern and i want short in correction. Also price made double top so we can handle with it as my favourite 2618 trade. Entry, stop loss, take profits are labelled in the chart,
Double top formed on price, price broke neckline and retested entering short looks good
Hi guys, recently price has formed double top and broken the wedge formation. I assume price will go more down and i want jump in to the trade on correction. My entry, stop loss and profit targets are labelled in the chart. Have a nice day !
Pretty self explanatory. Nice potential risk/reward on this trade with a tight stop.
Reason to entry: -Rising wedge pattern -Butterfly pattern -D leg confluence with impuls leg 38.2 retracement -Double top pattern -All of the pattern related and forming a high probability setup -Strong structure at final exit -This setup MAYBE will correlate with march Fed hike, since AUD have strong correlation with gold. entry: -wait for breakout from the wedge...
Hi guys, i want to share with you a nice setup that i'm gonna pay attention to over the next days. As you may know, 2618 is a strategy that consists on selling/buying the 618 retracement of the leg that breaks the double top/bottom's neckline. In this case, we can also see that it happens to be right on the previous support (that should act as resistance once is...
Bulls and bears have created the doji candle on the monthly chart. The doji candle after long uptrend might foreshadow trend reversal. Moreover this doji candle is after a long white candle. This means there is imbalance on the market. The market is "tired". The bulls might not have enough strenght to keep uptrend. The maximum of the upper shadow is the...
TREND 4 H Down Trand apabila Break Bottom sebelumnya dan membentuk Double Top untuk area entry sell di harga 076060
This double top pattern on D1 chart of the USD/CAD pair offers an opportunity for a bearish breakout trade. The pattern's tops and neckline are marked with the yellow lines. My potential entry level - the cyan line. My potential take-profit level - the green line. Stop-loss is to be set to the high of the breakout bar (not shown).
I think double top pattern can be created if the blue line is break we can enter for sell
Hi traders, on 60 minute was formed double in strong resistance level and now i am waiting when price go back to 61,8% (trading setup 2618) and there i want short it. Stop loss and take profits are labelled in the chart. Have a nice day!
December Live cattle has formed a tombstone today suggesting an end to upward movement. Struggled to make higher highs. Still watching for a double top at 104.800, which may not produce anything. Short term bearish butterfly forming. Market doesn't want to go down and doesn't want to go up. Initially did a double top at 103.625. This may be the turn down. Also...
Waiting for price to reject the 61.8% Level Will short this to the breakout point. Risk Reward seems good.
Notes: Price is in an overall downtrend initiated on 2.15.2017 with a Morning Star formation on the Daily at Weekly and Trend Line resistance level of 114.900. There are multiple confluences indicating that the USDJPY will fall further. I see no reason to buy this pair. Sell Confluences : - Key level rejection at 113.700 indicating bearish trend. (Medium) - H4,...