Using divergence , Stochastic bearish this time, a temporary short position has lined up on the 4 hour time frame on EUR/GBP. Price has given an inside bar below resistance and the 1.618 Fibonacci extension level . Targets may be placed at previous support where price could go to.
A short term long trade/counter trend trade on the 4 hour time frame taking cue from Stochastic bullish divergence and an inside bar at support and price hitting the 1.272 Fibonacci extension level. A possible pull back into previous resistance is likely where profits may be collected.
In a nice trend continuation on Cable with a nice consistent LH and LL formation.
Trend extensions have been meeting the 1.272 fib so will look for a pull back into roughly the 618 level which lines up nicely with previous structure and if a signal arises I will look to short at the 618 zone taking an AB-CD formation back down to the 1.272 extension proving a...
Looking for a short opportunity here on the GBPJPY using advanced pattern recognition, harmonic movement, Fibonacci ratios and structure identification. For a more in depth explanation of what i'm looking at see the attached video link below.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com
"Learn to Trade: FOREX TRADING Using...
Price action on the Euro ended up rallying right up to the previous level of resistance that we predicted. Although we didn't see the full trend continuation move that I had on my radar advanced pattern traders were able to take advantage & profit from a pain free bearish bat pattern completion.
Price action has now given us a HHHC about previous resistance...
Hello Traders!
We would like to present EurJpy forecast. (3-rd variant)
Sell limit - 129.000, S/L - 130.500, T/P - 126.900
Best regards, Powerful Traders.
HERE IS A TRADE SETUP I DISCOVERED A WHILE BACK AND SINCE THEM IT HAS BEEN QUITE SUCCESSFUL, I CALL IT STAIRCASE BECAUSE OF THE SHAPE OF THE CHART.
BASICALLY, LOOK FOR A 23.6 RETRACEMENT, THEN AN EXPANSION TO 76.8, AND A RALLY BACK TO THE 23.6 REGION. USUALLY THIS TRADE WORKS GREAT WHEN THERE IS NO FUNDAMENTALS ANTICIPATING SO I'M CONFIDENT IT WILL WORK. THE...
The down trend on EURUSD has not come to an end yet. We broke through support this week which now acts as resistance (look at point C). Furthermore the pair is following a nice downward channel.
We also have a 38.2% retracement of the previous move down, which is usually an indication of a trend continuation. If we see an equal move down (and form an AB=CD...
No doubt that Jason Stapleton will be showing this to you guys in our morning Warroom meeting, but we're looking at a potential Fibonacci inversion trade setup here on the EURUSD. We also have a 38.2 fibonacci retracement meeting at that same level and if you look left...well you know what we always say. "Look Left, Structure Leaves Clues"
Akil Stokes
Chief...
GBPCAD had strictly breakout the support level on day chart and week chart. It may go up to test resistant level (previous support) or not, but I will keep looking for high probability short breakout on lower time frame based on MA and trendlines until price reaching next support level. It's a star trading pair for trend traders in this week.
NZDUSD Made it's way into daily structure and put in a double top along with RSI divergence. This move is also accompanied by an ABCD pattern completion at the 1.27 extension. Looking for a move down near the previous low.
Good evening friends, here in Brazil now is 00:55h. I will be returning operations and also intend to collaborate with you with proven tips that work.
I believe that the image is well-explanatory, if someone could not understand leave your question to answer.
Let's wait for confirmation of this operation likely.
Hey traders, sorry for being away all week but I needed to get away from some of the negativity that exist on these social sites and concentrate fully on what matters most TRADING. The chart above is of a trade we took on the USDJPY this week using nothing more than the fundamental skills of reading a price chart and using the Fibonacci ratio tools.
Obviously...
AUDNZD has possibly completed a C corrective wave at an important S/R zone. A move down from current levels into wave (v)/3 would likely extend into the 1.088 area.
Using bearish divergence to build a case for reversal trading on USD/CAD with the following favouring a potential short scenario:
- resistance (3rd touch) at ~1.2800
- bearish high test close below resistance
- price reaches and closes below 1.272 Fibonacci extension
level
- Stochastic and RSI bearish divergence
entry - below low of high test
stop loss -...
