In about 11mins, I'll make a decision should I short GBPUSD again? Well, what would make me enter my trade?
Only 2 conditions I'm looking at,
1. The candle cannot break and close above 1.4172, not even 1pip.
2. A long shadow candle with the long wick above the candle body. Let's see how it rolls out.
USDCAD presents a third shorting opportunity, Head and shoulder retest and on the M15 chart a doji form on the 200 moving average.
Trade has engaged as I plan to have a tight stop on this setup.
On the 16:00(UTC+2) or 10pm(+8GMT) if the candle before it closed as a long shadow candle, I'll head in for an aggressive buying opportunity. Take note that 3am(+8GMT), Fed Reserve Chair, Powell is going to speak, traders who aren't ready for that shouldn't consider engaging the trade.
However, if the long shadow candle didn't happen I will not engage this trade.
A bearish shark has formed up at 8am(+8GMT) candle today, along with many of my harmonic patterns trade setup. I've chosen not to engage it as today is the day that many of the states vote counts will be released and we won't know what can happen.
During my earlier live session, we had engaged this trade and I did mention as long as the 9pm(+8GMT) candle didn't...
A head and shoulders setup for a buying opportunity. As this is not the usual head and shoulders setup that most will expect but the chart is not perfect. There is an RSI Divergence on this setup and if all fail the consolidation area do provide a buying opportunity on this setup.
EURUSD is entering a sideway bounce or to some, it is a rectangle formation. Either way, the market will get out form the consolidation in either way. Breaking and close above the resistance or below the support.
It does provide the countertrend trader with a great Reward: Risk if trader considers to Long the market.
Do your own analysis on this and to receive...
Well this setup is interesting, it has a bearish shark setup and the light red box you see is not the PRZ of shark, that is the equal distant move indicated by the blue line. A way that I trade.
So the estimation of completion of the blue line and shark completion is closed so I've decided to box it up and observe the movement, the candle close before I engage...
A Bearish Bat setup within the supply-demand zone with a magic candle which in this case may read as tweezer tops. I will go for an aggressive short when market opens on Monday, let just hope that no major gap happens.
If a gap above and close above, I will have to scrap this trade-ideas.
If a gap below and close below, I will have to wait for a retest for a...
A deep crab pattern as a sideways countertrend trade has engaged. Overall movement of CADJPY seems a bit whipsawy but it is still a side way setup. RSI has extremem overbought and is well resisted on higher timeframe.
I'm waiting for a magic candle confirmation to engage for a buying opportunity. I'm not going to place the pending order because:
1) On the higher timeframe, this trade is considered as a countertrend trade.
2) The recent string of bearish candle got me concern about this setup.
A bullish bat setup as a CounterTrend Trade within the buy zone. Sadly, the recent bearish candle has strong momentum, thus, I've to wait for magic candle confirmation before I can engage for a long.
Let's see how this bat pattern turns out.
