Potential long set up on the cable with a few confluences in place. Price currently lies in a region which is previous resistance, but now potential support. Inverse H&S pattern, where breakout has occurred with the retest at current support. The support level is also in line with a third touch of the trend line. Price is also sitting around the 38.2% fib,...
Here we see a completed Cypher pattern on the Canada japan charts. The pattern suggest a continuation in downtrend and appears to be respecting the linear regression. I believe that the market will rally down into the 1.618 extension of the BC leg before consolidating again, or reversing. I have placed my entry at current market price, my stop is at the...
Here we see a downtrend in the EUR/USD charts, and over the last hundred moves or so, the linear regression appears to be creating a nice channel that the market is respecting. If the market decides to continue , it is likely that the market will drop down into the next major structure support level around 1.10660. there is a nice little wedge that seems to...
Entry by confirmation of Price Action (M15)
Entry by confirmation of Price action (M15)
I'm sure many of you have heard about fears of trading on Sundays. Some call it "Trap day" which is a term used to describe a consolidating market. This happens quite frequently on the weekends and we usually will not see a major move until later on in the week. Since it is a Sunday in the market, I will just be setting up my charts. In the chart you can see...
We are currently watching price forming and indecision candle on top of a major support area, so I'm looking to buy above the indecision candle with target at next resistance level around 0.7835 and possible a Bat pattern completing ahead, so a great opportunity with low risk and a good +4R. Good trading everyone!
Following the price-action at resistance. Shorting at the end of the current candle if it turns to be a pin-bar.
I am adding 2nd short entry here, please see related idea for the bigger picture. I think bulls had their chance 2 times so far, price might head south from here, I would use a stop above 1.5 for this one. all based on price action and current behaviour this is not a set and forget setup. I would wait for 4hrs close before taking action - worth watching
Yes, I do have a Meerkat. Head to the application, download it and when I go live you will get notification. I am looking for any voice who would like to have their stream over on Chart.Chat.Connect, until we can get TradingView to see the demo. Thank you so much.
The first price action canceled an attempt of fakey setup.
AUD/USD Short : The trade is already in the initial stagesof taking profit but there is much more room for pips to the downside. Twin peaks/ double top resistance (highligted in yellow ovals) are confluent with the 4hr Fibonacci retracement at 61.8% and indicates a continuation of the bearish trend to 3 targets, as shown on the chart.
I'm not usually a counter trend trader but came across this ABCD pattern on the EURUSD Weekly chart. Price is currently at the low support line from 1994 1.11. I'll be watching it next week on the daily chart looking for a double/triple bottom. It may continue slightly further to 1.08 support also. Looking for a strong confirmation of reversal before entering....
After a retrace for a while, 2bar reversal confirm that downtrend will continue
As we can see, GBP/USD tested a Key resistance point and form a Pinbar, Expected to go short
As we see, USD/ Cad form a daily 2bar reversal on daily, and expecting to go next resistance level