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Retest-structure

Bearish cypher 4HAs expected the bears tested all of the fib extensions of the butterfly. I also expected the bulls would start to kick in at the predefined zone of 1.9383 - 1.9363. Price even pinched lower to 1.9293 to trigger the bat entries. Unfortunately I didn't see the bullish bat, but that price alignment really gave the bulls a good risk:reward ratio. Now I'm both long and short with the GBPAUD. I took partial profit at 1.9363 and closed two short positions. At the same time I entered long with the butterfly. I expect the bulls will drive up the price because of the following: (1) price went down extreme, but eventually a lot of buyers stepped in producing a very large wick. (2) there was no strong follow up after that candlestick. this tells me that the bears are still there. (3) The bears have tried to counter the previous candlestick. But if you look closely, initally they failed. Now I have a bearish cypher pattern on my radar which lines up with my desired selling zone to scale in short.
Short
by Mikoxl.
2
GBPAUD: Retest of Triangle via Bullish Gartley (+video)GBPAUD has been a pair that we've been tracking for about a month now. For the past w\few weeks we've been waiting for the ascending triangle breakout and now that it's occurred the next chance to get long would be a retest of structure. As the market has wiggled it's way down, we've set up a potential bullish Gartley pattern that can be used to take advantage of a longer term buy or simply just trade as the pattern that it is. Also yesterday, I released my usual Thursday night video. It has nothing to do with this particular trade but it should provide a better idea of what I look for when analyzing a price chart. www.youtube.com
Long
by Akil_Stokes
16
GBPUSD: 3rd Times The Charm Right?Tried shorting this pair twice yesterday and failed on both attempts. The first short came at the aggressive structure level that we talked about in Monday's training (which occurs around the B leg of the harmonic move I drew out) and the second attempt came at these very same highs. Unfortunately my stop was about 8 pips too shy and the market got me. Fast forward a day later and we now have a double top at the harmonic completion level along with a bat pattern (if you were to shoot down to the 15min chart). Third times the charm right. In a trade like this we can look to either play it as a bat, or simply use the bat pattern as an entry reason for the bigger double top move.
Short
by Akil_Stokes
20
Is the correction over? Time for the last leg down? #BTCAs you can see in the chart, this whole down leg (from mid November) has been a sequence of break support, make lower low, retest breakout level (support turned resistance), break support etc. You can see in the chart where each retest has occurred and we are now at that level again. We are also ~$10 off the 10 November 2013 low. To me this says we should see a topping movement and head down again. Note: the background trend lines and numbering are from 4xForecaster's Wolf Waves pattern. I had also published a version of this before we achieved point 4. Refer to the links below.
BITFINEX:BTCUSDShort
by DanLaffas
USDCAD Re-Test Structure, Is it Potential Trend Continuation?USDCAD is Retesting the structure resistance level on daily chart. Potential trend continuation expected as price action retest the structure and then go lower. The idea is to go short for trend continuation trade with stops above the resistance levels. Targets can be Fib 38.2 and 61.8 of the rally. Aggressive traders can stay in trade with trailing stops as the price action can break previous lows. This is just my analysis. Any suggestions or different analysis is welcomed. Happy Trading!!
Short
by SirajHudda
2