Following up on the video that I shared with you guys last week, making a few predictions on the GBPJPY. We are now approaching a retest of the "B" leg for this potential Advanced Gartley Formation. (By the way well done 2618 traders!)
If you remember I was looking for a trend continuation opportunity & this advanced pattern formation would be a perfect entry...
During the Asian session, the 61.8% retracement of yesterday evening's move held its own. Down trend could resume once profits have been taken at the 27.2% extension by the accounts that have been defending this price level. Tight Stop Loss of only 5 pips as this idea is based on the assumption that the bulls will unload and price will fall sharply after 0.8032 is reached.
Hi Trader,
Thanks for checking out this trade idea. Appreciate the thumbs up!
This is highly correlated with the GBPAUD trade I just posted. It is the exact inverse of that trade setup.
See chart for entry and exit levels.
If you don't have a trading plan, please get one. The biggest help to my trading was when I REMOVED ambiguity in my decision making.
Good...
The longer term trend for this pair has been bearish for a couple of weeks now. This trade is based on a bearish wedge formation that started early this month.
Wait for the retracement and enter around fib 0.5 level with a stop just above the recent top swing in this wedge. We take profit around fib 2.618 for a 1:3.36 RR trade potential.
Comments or idea's, let...
A great bearish engulfing candle formed on a nice retest of a long term bullish trend line after breaking through back on 03/17/16.
Intraday charts showing bullish pressure being broken down and the bears completely taking over.
Easy 1:1 RR to the recent lows and from there price could dip all the way to 106.00 for closer to 5:1
NFP coming up can stir up some...
Buying the .618 retracement for a more aggresive entry or waiting for the .786
The .786 is meeting previous support which now could be resistance so better possibilities and Risk/Reward ratio.
Good luck guys.
Price hit resistance at the top end of the 1.14 range where historically gains to the upside have been sort lived and unable to hold.
A retracement down to the 50% fib level where price will likely consolidate pending the FOMC minutes that'll shed a lot more light on the dovish tone set by Yellen last week is the likely outcome for Monday - Tuesday as bulls can...
XAUUSD Hit a strong resistance level on both side. A few Pips of retracements to follow. looking at theprevious retracement it may be going down hill again.
Weekly chart indicates UK100 in a bearish trend setting lower and lower highs. RSI and CCI show overbought market which means that bearish trend is going to continue for at least few more weeks.
Stoch RSI is at 96.47/98.08 which is a clear sign of over-bought market. Given the fact that Goldman Sachs increased its recession expectations from 20% to 30%, one...
A retrenchment of the upper trend line and I will be looking to short the GBPAUD for 300pips.
This could be a possible t bearish trend continuation to the down side We have had HL's and LL's.
A rejection to make a HL and a LL may be a sign that we may go long however a pin par on the higher time frame
will signify a potential short also.
Like, comment and...
1.618 Fibbs retracement which bounced back from it 3 times. Good opportunity to go Long.
Take profit 112.30-113
stop loss just around 30 pips below support zone.
happy trading.
Hey Traders,
as i walked through my pre market analysis, this setup caught my attention. I firstly identified the structure on the daily timeframe for a possible trend continuation to the downside. I then switched to a lower timeframe and identified the double top, with fibonacci confluence and bearish divergence on the rsi. We've got a retracement, an extension...
