So our entry on friday and scale in was taken out yesterday for a descent 1:1.4 RR. The market still hasnt given us that move to the downside but instead evolved into a larger flag to which market structure allows us to enter from.
This type of entry is more risky than usual entries yet it presents a good risk to reward. as we can see due to multi timeframe analysis we are on out third touch and got an impulse to the downside. A large flag presented its self and we waiting to be triggered in.
combined with multitiouch confirmation on the HTF we are on our third touch to which we reached with a ascending wedge. we broke out impulsively and created a bear flag
We finally broke out of the ascending channel and are forming a continuation pattern
List of confluences: 1: Weekly chart breakout and chart in market structure. 2: Weekly and daily Chart short to medium term trendline breakout. 3: Potential Head and shoulder formation on daily chart Summary: When we look on the weekly time frame, we can see a clear bullish market structure change and breakout. Usually after such a strong breakout we tend to...
I've annotated my charts for your convenience. Enjoy!
Lost the move that made the high. Price came back to test. Expect price to go lower now.
Confluences: Double Bottom Daily Chart Trendline Break Weekly Chart Trendline Break New High Indicating Bullish Market Structure Duration of Trade: 3 weeks or if target reached, whichever comes first.
Price rejected the top at 1.82000 area with a breakout of the trendline. The price is forming a nice correction that possibly can break to the downside. You can enter at the break of the correction or wait for more confirmations as to how did the structure break (impulsively or correctively) This is a nice setup if the correction breaks to the downside. The...
List of confluences: 1: Double Top Pattern Formation 2: Trendline Breakout 3: New Low Creating Showing a Change in Market Structure (Bearish) 4: Retest of Previous Higher Low and Double Top Neckline. Trade duration: 2.5 to 3 weeks
Trade the range with me. Just seen a reversal candle at the resistance. Expecting this to go up to the designated area!
Where is EURUSD going? Right now we're in a very strong upwards movement, as the EU released very good numbers. Where is this going? Personally I have a long bias, however a Sell Stop is also in place. Check the chart for more details 👀 What do you think? Let me know!
NZDJPY Price Trap - (BUY/SELL) BUY Entry: If price break and closes above alert price on the 1hr tf, enter on the break or the retest Alert: 1.49176 TP1: 1.49571 (40 pips) TP2: 1.49908 (73 pips) TP3: 1.50294 (112 pips) TP4: 1.50590 (142 pips) SL: 1.48470 (30 pips) If it breaks TP1, or is considerably in profit, move your stop into profit or close in...
Confluences: 1. Daily chart double bottom 2. Daily chart trendline breakout 3. Price trending bullish on daily chart as price created a new high. Entry: Middle of the week would be the ideal time to enter this trade after the breakout and correction takes place. We will be looking to enter on the continuation to the upside. This is a nice short term trade with...
Confluences: 1.Head and Should pattern formation on daily chart . (Not textbook style Head and Shoulders ) 2. Daily chart long term trendline breakout and close. 3. Price is trending lower with the formation of a new low. Entry: Too soon to enter at the moment even though setup looks really great, We will be waiting for the CAD interest rate decision today...
Confluence: 1. Weekly Chart Trendline breakout. 2. Price is trending bearish with lower highs and new Lows being created. 3: Key low has been broken in the region of 1787 and 1765. Entry: We will be waiting for a lower high to get formed before looking for any entries on Gold. We are expecting some dollar weakness into the start of this week. With that being...
Confluences: 1: Weekly chart trendline breakout. 2. Trend is bullish with price making Higher Lows and New Highs. Entry: Price is over extended at this point in time. This creates the risk of price pulling back to retest the previous high or the trendline while at the same time creating new higher low. This when we can start looking for entries and reassess...