While waiting for an entry for the counter trend opportunity, market presents a potential trend opportunity on USDCAD
We have a potential Cypher Pattern - it is nice way to enter long and retesting the high with stop below previous major structure level.
If price doesn't fall, I'll be looking for the counter play - we have a fib cluster right in our potential...
AUDUSD is nearing the PRZ of a bearish shark in a S/R zone that is confluent with the a bearish Wolfe Wave setup. 200 EMA and SMA may add resistance in this area. To add to bearish bias, this pair has been in a strong downtrend and this would give us an opportunity to ride it down to the .886 fib if price should reach the PRZ. Entry is placed at the shark...
I have highlighted daily support areas which are confluent with Fibonacci levels. I lean towards the Bearish side, however I would not discount the Bullish targets on screen, especially with announcements from the US today.
The bullish or bearish move will depend largely on price action and candlestick confirmation for me.
Another reason for leaning to the...
NZDUSD completed a bearish Wolfe Wave pattern last week and is nearing the PRZ of a bearish Gartley to possibly continue its movement south. This pair has been in a 14 month long downtrend and the steep pitch of the 1-4 Wolfe Wave target line signifies a deeper continued drop is possible. Those who missed the WW sell entry will have an opportunity to enter when...
Entry point at 78,6% Fibo of XC
SL little above X (in fact a strong breakout at the resistance line could be a signal for closing this position)
TP at 61,8% Fibo of CD leg or even lower, because this is a trend following Cypher Pattern
After stalking the EURUSD this entire week, price action has finally made its way down into my kill zone and has also given me a reason to get long in the form of a bullish bat pattern that completed during the early London session.
There are so many ways to take targets on this trade and instead of laying them all out I’ll just ask you these questions. Why are...
Throughout this entire year, USDCAD has been rallying which can confirmed on the larger timeframes such as monthly, weekly and daily.
I'm basing this trade based off of that momentum and on a simple trend-contination setup.
As you can see, price has been consolidating this past week and along with all the momentum n volume today coming because of greece, Im...
I was supposed to be following the EURUSD this entire week, but if you look at the chart there is just absolutely nothing new going on. So instead of giving you a chart that simply read “see yesterday’s post” I thought I’d look at another pair that has been on my radar.
One of my clients and I were discussing the situation on GBPJPY last night looking for a...
Just below the figure 9, AUDUSD weekly price action formed a bearish flag top with a Doji. Since then price has continued the downward path and now approaching the support zone based on 2010.
A breakdown from here could lead to further weakness but if price reacts at this zone and moves above the upper RTC then it may bounce and find near term...
ORLY has convincingly broken out of an 8 month range. Last week a bullish flag was confirmed on the weekly chart.
On the daily chart price gapped up on higher volume. Support is now around the 160 zone.
The gap was too soon to enter on a longer term strategy, due to the prolonged consolidation - it could have been a fakeout.
I will be waiting for a pullback...
FDX is another one of our preferred trending stocks and has been discussed in our private forum a few times.
Price broke out of the regression trend channel almost 2 weeks ago and continued to trend upward. Yesterday price closed above the resistance level and this has now been placed onto our bullish watchlist.
Wewill wait for a chart pattern to set up any long...
Bullish WW pattern,
Entry @ the 1H time frame with a Pin bar,
Trade going with the trend,
Reward: Between 13% & 28% (Depending-on when the price hit the Target-line)
R/R ratio: Between 26 & 56 (Huge!)
Trade management on Daily time frame
I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the daily. As a counter trend trader it's important to realize that I'm not looking for the big long-term move, simply a brief correction.
If this correction rolls over more than expected there's a 2nd...
* I tried to post another chart with this showing the advanced pattern, but think I messed up doing so. I'll keep trying but here's the daily view that was suppose to compliment my other chart** SORRY GUYS
I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the...
After creating new structure highs we're now retracing into previous structure setting up a low risk long opportunity. I'd be cautious about shooting for too high of targets since we still haven't passed the major structure area on the weekly.
If the resistance holds and is confirmed like before this week, there may be enough time to make 20 pips out of this trade. Using a tight stop loss, as there isn't significant news till Friday's close.