Will be watching out for this shark pattern on GBPNZD. Wait patiently for it to reach the PRZ zone at 1.9350 - 1.9360 first. The subsequent reaction and volume transacted at this zone will determine whether we will go short thereafter. I will update you guys again when it reaches my desired zone.
I have shorted CADCHF since last Tuesday. I remain bearish on this with my stops at 0.7910. This is a nice bearish bat pattern at the top of an ED channel. Next Friday there is a high impact CAD news. We might need to wait till Friday to know if this trade will hit our TP or SL. Stay patient. EP 0.7850 - 0.7870 SL 0.7910 TP 0.7710
Had a very quiet week as I was down with the flu. Now I am slowly recovering and I am looking forward to have a great week! I am watching how EURUSD unfolds next week. 2 scenarios are likely 1. Price completes the shark pattern and reverses 2. Price reaches the top of the ED channel, struggles and falls Both are significant and I look forward to see the...
Last week, I released a few ideas on shorting GBP, namely GBPAUD and GBPCHF. (see related ideas) However, there was never any volume trigger to execute both setups. Being patient, the market showed its true color and the GBP went much higher. Looking at the 4 hour chart, I expect GBP to climb much higher to complete the bearish bat pattern around 1.36. In the...
EURJPY has completed a bullish shark pattern. I am looking for a candle close with low/mid volume above 132.10 before I enter long. Last Friday's move down already had exhaustive volume, it looks promising. EP 132.10 SL 131.50 (60) TP 134.50 (240)
After trading the small shark 2 days ago, I see yet another shark forming on USDJPY. The game plan remains the same. Wait for price to get close to the trendline. Monitor volume for early entry. The safe entry is to wait for breakdown of trendline. Will target 113.40 for initial profit target. SL at 114.35. Will keep you guys posted, I have yet to enter.
Just spotted a bearish bat completion on GBPCHF. This is a big H4 bat. Will be waiting for a retest before deciding if I will go short on this. I hope to see price retest the PRZ and form a double top first. Then I will monitor the volume indicator to time my entry. Will keep you guys posted.
I see a bearish bat completing on NZDUSD. The USD looks strong and I think it is unlikely to turn soon. If you refer to my previous post on the NZDUSD daily bullish bat, I remain bullish in the longer time term, but I am still interested to short it in the shorter time frame. NZDUSD should need more time to consolidate before any big movement...
Tonight we have CAD news. It is likely to affect USOIL. This is a great setup, shark pattern + nice exhaustion volume at PRZ. The safe way is to wait for break of trendline before shorting. The not so safe way is to short now with stops above $52.80. Should see a minimal move to $51.70. If it breaks the support trendline, we should see a HUGE fall for...
EURUSD is a pretty straight forward channel play. I will only be interested to trade when it reaches channel extremes or when harmonic pattern completes. Currently, there are not patterns. If you look back just a few days ago, we have a classic no supply at top of channel. What is no demand? Price did a breakout with extremely low volume, this indicated not...
I see a potential shark completing on GBPAUD. This is on the 4hr chart, therefore it can take awhile. Short term traders can buy on 1 hour pullback to nice support levels. I will be waiting for the big short which could happen late this week or over the next 2 weeks. I will be monitoring the volume indicator when price reaches the PRZ to decide what I will do...
Apologies for the quite week, went to Shanghai for a week of work and meetings. The internet connection there was horrible too, making it a chore to chart on tradingview. Now that I am back, I want to share some ideas I have for next week. First up is GBPUSD where I see a potential bullish shark completing next week on the h1 chart. EP 1.2985 - 1.2995 SL...
This is the daily chart of the kiwi. Either this week or next week, it will come to the bat pattern PRZ zone. This could mean at least a decent rebound on NZD provided the price reacts to the pattern. I will be monitoring the volume closely for opportunities to get long on this. I would want to see a rejection of the PRZ on high vol or a low vol push up after...
This is a very similar setup as the gbpchf setup I posted awhile ago. This is a shark pattern to go short. But before shorting, some stuff need to happen in the volume indicator. 1. Exhaustion volume (huge big bar) 2. A weak candle with decent vol This can be a great setup if the above happen. Will wait for news at 4.30 and 6.15 to happen first before...
I see a bullish shark completing in USDJPY around 111.40-111.50. If price drops to this PRZ zone, I will be interested to get long. However I will be watching the vol activity and reaction at that level before entering my trade. Hopefully tradingview is accessible when I am in Shanghai for the next week. Will keep you guys posted, stay tuned!
I foresee a double bottom forming on GBPJPY. That is also the level where a bullish shark pattern completes. Whether I will be entering this super big counter trend trade, it depends on the volume activities when it reaches the 147 level. I will want to see abnormally high volume coming in before it reaches the PRZ. Will keep you guys posted.
Had a great ride on AUDUSD last week, pocketing over 200 pips. (See related idea). Post NFP, I see the sellers still dominant in the H4 timeframe. We could see a shark pattern playing out where I will look to short around the PRZ level of 0.7960. I hope to see some form of extreme volume exhaustion move before this PRZ level before executing my short. Any...
Will not be surprised to see a pullback upwards for EURUSD. 1.1970 is a shark pattern PRZ short level for EURUSD. Will be monitoring the volume around this level for potential short opportunity. EURUSD is currently bouncing off H4 support nicely and the path of least resistance should be upwards for now. Look out for abnormal volume (Black Color, Ultra High)...