I love this monthly candle developing at the confluence of Fib lines. I am already short as previous charts shown, but a close anywhere near this and Ill add heavily into the trade. Only time will tell. Would target the lower trend line.
I think it will stay within the pattern for quite awhile longer bouncing around, especially considering this is a weekly chart. However I think over time we will eventually get a nice move up. Because of the large time frame this is one of those patterns you let have a sure break and retest before hopping in. Will stay updated
This inverse could create a very large move. I normally do not anticipate these patterns and let them play out before hopping in but i think I may take a light position here with a stop under the previous low. I like the bull move we had today to get things started. Also for those watching always be careful of the neck line rejection, people always enter to early...
This wedge set up on the 4 hour with an overthrow on the bottom. Plus the possibility of a larger inverse really makes this setup tasty. Conservative traders will wait for a break and retest of the wedge before committing to the trade.
Nice little corrective channel happening on the NZDUSD , I think on a break we should eventually get down to the rectangle. Which happens to be a major ascending trend line.
I recently posted this wedge before the break on a bearish set up. And while I imagine we still have some downside my bearish set up has already been locked into profit. One thing I like to do with trades is make money on both sides. My plan on this strategy is to use my averaging strategy. Because we already have profit on one side we dont want to do anything to...
I like how the EURUSD is retesting the bottom of this broken pattern at the moment, might be worth a short for some good pips:)
We have a wedge building here, i would wait for a break and a retest to get short on the pair. If we dont get a good retest candle do not bother shorting
Cadchf 8 hour chart, nice short set up, the target area is listed on the chart, i would look to enter on a retest of the trend line provided it breaks down.
Its probably going a little higher than this, but I like this short and easy target. Its not all about trades that last for weeks. Sometimes you gotta have a couple cheeky day trades to kill the boredom. Position will be 3rd normal size in case of averaging. Will follow same rule as always and not average more than 3 times with 1/3rd position sizes.
I really like this simple and efficient UJ short set up, trend line has already broken, Im conservatively targeting my rectangle as shown.
I posted a NZDUSD short chart a little bit back and have been updating it, but figured I would post a new chart to keep it fresh. The weekly candle was great as stated in my last update, however now we are approaching another big trend line that I expect to break. I will add to my position if it properly breaks. Take note of the perfect over throw on the daily...
The EN has given us some great chances recently. Just something coming up shortly to pay attention to, something that often happens after price action comes back within a pattern is a retest of the inside of the pattern before continuing its direction. I will take a long at any nice candle off the Trend line here and for nice R to R will put a stop loss shortly...
Regardless of the overall direction the AUDUSD is headed long term, i think this will be a safe trade with a nice R to R ratio. Will look for a nice entry candle somewhere around the Trend line, and play it to the rectangle. I will take profit around there.
Im not convinced the down move is over yet, however I would like to see some equality in the market before too much more down. I will start to look for an entry point for some quick $$