A trend trading setup on GBPAUD is spotted on the 1-hourly timeframe. The market has an arrow indicator and to further confirm the setup there is an RSI Divergence on this trade.
Let see if we are still in time for this setup. Check out link(3) to receive my entry, stop and targets.
GBPAUD has a complete bearish bat setup, and it is a counter-trend trade. This setup has a great Reward: Risk and market are near point X, the only concern is that GBPAUD is usually volatile and having it exceed point X before heading towards profit direction is a common scene.
When checking the Hang Seng Index HSI monthly chart, you can see the HSI has finished the wave 1 to 5 and starts to go from wave A - C. HSI is now testing the strong resistance at aound 29,000 to 29,100. If this resistance cannot be breakthrough, it is likely that HSI will start to go in wave C. According to the Fib, the first target will be 22843 which is 0.5...
The recent drop for HSI started on 20 Jan 2020 at 29174.9.
It would be a good level and good narrative to buy after seeing it dropped for 30% or -8,888 from the last top.
Buy at 20286.9, accumulate below 23631.5.
We would expect the market to stabilize and have a rally before US Election 2020.
Looks like China finally realized they're headed for a recession if the rest of the world goes into one. Hang Seng still has a way to go until it hits bottom, and at the rate this is going, probably next week.
Maintaining bearishness until end of next week, even though I expect an up day on Friday as shorts cover before the weekend.
Note that MFI is not...
If a break below and close below of the current candle happens, I will engage a short trade.
Trading at C is not what I advocate traders to do. The reason is that it is not a pattern until it completes and reverses at point D.
In this case, it is possible because it has a Bearish Gartley Pattern that was ahead of it and a check-back to the HSI Arrow and a...
A bullish deep crab pattern setup and went into consolidation after the HOP level.
Would you see this as a fail deep crab?
The deep crab pattern is still valid, watch closely.
The HSI arrow shows a potential entry for a check back, no doubt the candle has a lower price, but it didn't break and close below the candle that has HSI candle.
A double top pattern with an RSI divergence has shown up. I'm waiting for a checkback to engage for the shorting opportunity.
Some may ask, "Hey Rayn. You just got stop out on this, will you still enter?" My answer to that will be, "Hell YES! Only on the trading strategy that I've tested and currency pairs, I'm familiar with."
HSI only breaks the previous bottom a little bit while the US market drops 15% and alot more around the globe!
another round of 4 trillion money printing from China and another round of rate dropping coming soon from the Fed will eventually return the whole.
Here, from the chart, Weekly!
assume
BOLD GREEN C = 1.618A and
BOLD BLUE 5 = (1 to 3) x...
