A Bearish 5-0 Pattern give traders who want to look for a shorting opportunity, an opportunity to engage the trade. It is important to wait for 3bar reversal and not seeing candle break above and close above the red dotted line for the minimum confirmation.
GBPJPY on the 1hourly chart at structure; any plans you have, traders? Initially, it was the entry point to a Bearish Bat, but it is invalid now. Can anyone of you tell me why that is so?
A Bearish Deep Gartley Pattern check back. What!?! It's rare, but it does happen. I"m waiting for the candlestick to close and confirm a long shadow for my aggressive trade. This trade could potentially give me a lower risk and higher returns, if you know what you are looking for.
A Bearish Shark setup has its retest. But is this it, or not? Shark Pattern can have up to 3 entry zone, test 3! So it's best to wait for candlestick confirmation to engage the trade and ever over trade.
EURUSD is on a Bearish Trend, should the market reverse and touches the focused trendline, it will be a perfect opportunity to engage the trade. The grey box that the market is in right now gives counter-trend traders an opportunity to engage in the trade. I'm focusing on shorting opportunities on the EURUSD.
If you read my last week's analysis, you should know that there is a potential Bearish Bat Pattern on the daily chart(the link is within the tradingview article). If you are looking for a counter-trend trading opportunity, the Bat Pattern might not be the best setup, and that's because I don't like what I'm seeing(consolidation before the Point D...
CADJPY is on a Bullish Trend on all 3 major timeframes. A Bearish Deep Gartley Pattern may allow counter-trend traders to short the pair at 106.27. Before engaging in the trade, it is important to wait for the 3-bar pattern confirmation.
EURUSD is on its bearish run on all 3 major timeframes, the daily, 4-hourly and 1-hourly timeframe. Check out the bearish channel drawn on 10Jul, link at the bottom of the TradingView post; you can observe that when you drew the channel correctly, you can see the market respect the channel by stopping and reversing at the end of the channel. That is when you know...
As RSI currently is around 75, we believe that it will have to cool down soon, however we expect that the price will increase a little bit more and will get rejected from the resistance level. After that, we expect that the price will decrease to retest the support. - entry point: at the resistance level; - target: at the support level shown in the chart; - stop...
CADJPY has a potential Bearish Bat Pattern that completes at 106.77. A candlestick pattern confirmation is important, and that's because there's a Potential Bearish Butterfly Pattern on the Daily Chart. There's no need to be over concern about that; as long as you are following the trading rules, it will be fine.
The Bearish Shark Pattern could be a better setup for the shorting opportunity that the Bearish Bat Pattern which feels like an endless consolidation on the 4-hourly chart. The Shark Pattern completes at 0.9143, a candlestick pattern confirmation is still required before taking the trade.
If you have been following my analysis, you would have known that it is unusual for me to share a Weekly Market Analysis on a 15minutes chart. A Bearish Butterfly Pattern complete at 1.0788 for a shorting opportunity. If this became a valid setup, I could upsize my trading profit to the 4-hourly chart level. Link at the bottom. That's how Winner trade ;P
A Bearish Bat Pattern completes at 81.58 as a trend trading setup. The setup happens near the sell zone and it is a perfect setup for trend traders. Even with that, we shouldn't overlook the importance of candlestick pattern confirmation within the PRZ zone.
A Bearish Shark Pattern complete on the 8 Rangebar charts is a perfect setup for scalpers. A trade setup is a trading setup after all. The setup completed at 83.92, if you are late to the trade, it's better for you to sit out of this. The reason for that is because the profit isn't a lot and by entering late, in the long run, you will jeopardise your trading portfolio.
The descending triangle has evolved into a Bearish Shark pattern, which is even better. It gives us a more defined stop loss level and target taking level. I might stretch the Final Target Level. Check out my previous analysis at the link below to see how the market evolved but not exactly invalid the trend. And how patience pays off.
I found that Gold has been in Overbought position, as indicated by the RSI indicator. Here Gold will experience a daily/weekly price correction, with a profit target of $1800 (Demand Zone) and at the point of position (approximately) the Daily Moving Average line (WMA-200).
Almost the same as what will happen with WTI (USOIL) , Brent (UKOIL) will experience a weekly price correction marked by the Overbought RSI indicator, and with a profit target of $73 in the Demand Zone.
It is important to wait for Candle Confirmation even on the most familiar currency pair and most familiar setup. The close of the current candle will determine if the Shark Pattern is valid. The Bearish Shark Pattern formed at 1.3177 and was confirmed once the candle closed at 1.3173. As this is a 1-hourly chart setup at 1700(GMT +8) or latest by 1900, it will...