.Based on analysis: .Buy and sell within specified ranges .If the resistance is broken, we expect to move according to: B-A .If the support is broken, we expect to move according to:C-D .Follow me to see more analysis .This analysis will be updated .Date of analysis:02jul .Analyzer: Joseph
First of all, just want to wish my followers a belated Xmas and New year. Took a month off to just chill and enjoy some family time with my family. Missed a few good trades but I had no regrets. Checked out the charts and noticed AUDUSD attacked by a black swan event with alot of accounts going bust just few days back. GBPAUD which I analyzed last year flew...
A deep crab pattern is potentially forming on the pound. Be patient and wait for this pattern to complete before considering whether to go long. In the shorter time frames, I will continue to keep a lookout for patterns to short before this big pattern completes. We are approaching the end of 2018, hope we can buy low on the pound and ride a few hundred pips to...
This is a potential bullish butterfly on EURUSD. C point is confirmed after hitting a resistance at the top of the ed channel. When D completes, we can consider going long after a candlestick reversal. PRZ 1.1140 SL 1.090 TP1 1.1270 TP2 1.1340 Do not use a pending order, maximum risk should be controlled within 2% of your equity. Good luck and good trading!
Oil has rebounded off a crab pattern yesterday. It is clearly on a downtrend, but in any downtrend, there can be small rebounds and opportunities for traders to join the trend. Donald trump tweeted that oil will be lower in the coming months, but it does not mean there will not be small rebounds along the way. If oil manage to rebound to 61 - 61.20, we will be...
After the big shark completed back in Oct, GBPAUD has fallen around 1000 pips. (See related ideas) Right now, it seems to be forming a bullish shark. At the PRZ zone of the bullish shark, look left and you can see some nice daily structure support too. When price reacts near the PRZ, we could be looking at a high probability long trade. PRZ 1.7440 SL...
I have covered DXY for a long time. It has completed a daily shark and is now looking to complete a smaller h1 shark. This H1 shark will complete slightly higher at 97.40. These are the levels you can take note of. PRZ 97.40 SL 97.70 TP1 96.54 TP2 95.88 Patterns within patterns, it gives me a higher confidence to take these trades, but I will still be...
This is the 4 hour chart of AUDUSD. It is currently still on a big downtrend within an ED channel. Harmonics can be used to pick big market reversal, but it also can pick smaller reversals that aligns with the bigger timeframe. In this case, we have a bearish shark which aligns with the h4 bearish trend. PRZ: 0.7160 SL: 0.7210 TP1: 0.7090 TP2: 0.7040 We...
15 days ago, I posted about this potential shark completing on DXY. We are finally right around the corner. 97 is the level to watch for market reaction. Minimally, we are aiming for 95.40 as the 1st target. And remember, if the market does not reaction and pushes up convincingly, we will not go short. PRZ 97 SL 98 TP1 95.4 TP2 94.20
JPY pairs are poised for a short term rebound towards the upper range they are trapped in. For cadjpy, it is between 85.50 - 87. Near the top of the range, we have a shark completing. PRZ 87 - 87.10 SL 87.40 TP1 86.20 TP2 85.5 No reaction, no trade. Good luck and good trading!
This is the 4 hour chart of USDCAD. We have a bullish shark pattern that will complete around 1.2780. We are also currently at a channel resistance and this could be the C point of this bullish shark. Therefore I have 2 ways to trade this. 1. Sell from C to D This is alot riskier and I highly advice reducing your risk from 2% to 1% if you take this setup. SL...
This is the hourly chart of GBPCAD. Price has hit the PRZ of this shark pattern and reacted. I have gone long around 1.7015. These are the numbers you can consider. PRZ 1.7000 - 1.7015 SL 1.6950 TP1 1.7060 TP2 1.71 Good luck and have a great weekend!
After a 400 pips fall in the past 2 weeks, we are approaching a nice support zone for EURNZD. A bullish bat pattern will complete around 1.7520-1.7530. This is a higher time frame trend aligning bullish setup which could easily reach our TP if executed correctly. The market must react to the PRZ zone before we can consider going long, never use pending orders...
Gold could be completing a bearish deep crab pattern in the coming days. After rebounding perfectly off a bat pattern, will this deep crab give us another great profit opportunity in the next few trading days? Deep crab differs from Crab at the B point, where the retracement is much deeper at 88.6%. This 88.6 retracement usually reacts off the XA 161.8 nicely...
This is a follow up to the CHFJPY analysis which we TP 300 pips 2 weeks back. (See related trade ideas) After hitting the first TP of the big daily bat, CHFJPY continued to fall, but I have fully closed my trades locking in 300 pips. The 2nd TP of the bat is at 112.20, which has yet to be reached. Usually, we see smaller patterns form within bigger...
This is the US dollar index. Right now it is on a 4 hourly uptrend, looking to retest the highs at 97. If it successfully retest 97, it will complete a bearish shark pattern which could easily see it falling back to 95.40. Right now, it pays off to be patient, always buy low and sell high and vice versa. These are the levels I will be keeping a close watch...
This is Gold at key weekly resistance of 1205-1207. After the nice push up from 1190, it has stalled and seems to be going sideways. Mapping out my fibo ratios, I realized that it is nicely sitting at a bearish bat pattern PRZ. For today's trade, I will extend my stops a little bit further as this bat pattern with its B point at 0.382 could extend into an...
This is the H1 chart of GBPUSD. A shark has completed. PRZ 1.3120 SL 1.3160 TP1 1.3025 TP2 1.2950 We are a little late on this, measure your R:R to determine if this is a worthwhile trade for yourself. I got in around 1.3190. Good luck and good trading!