About meI trade Price Action (PA) and teach the 'Trader Lifestyle' on Forex trading. I'm a bitcoin trader, investor and fan. But this is a side hobby and interest. Serious trading only on main Forex pairs: EURUSD, AUDUSD, GBPUSD, NZDUSD, USDJPY, GBPJPY, EURJPY
This looks like the Wave 1 and Wave 2 is complete. May be a small further drop on Wave 2, but all eyes forward to the kick off of Wave 3.
This is not trading advice, just my view of the macro picture. I believe we are in a bull trend now, along with BTC. I'll be holding through to completion of wave 5. For shorter term trading I'll only be taking long positions...
My previous trade idea was on the Daily Chart. A pin bar entry signal has appeared on a key level: So we go to the 15min for entry for sell entry.
Head and Shoulder pattern on the 15min chart shows clear possible entry on re-test of shoulder. Stop Loss on recent lower high. TP1 on recent resistance level. TP2 on 100% of height of Head.
This is not trading...
Looking at trade setup ideas over the next week or two. Overall bearish trend in EURUSD is making a sell entry the better trade. Will be looking for price action sell signals on the daily close. Trade idea to be updated while it remains valid. This is not trading advice, it is an idea only. Do your own research.
Happy trading folks! And remember, don't enter...
After a breakout of the ascending triangle and an re-test of the breakout area, we could now be resuming the downtrend.
Trade only with risk management, wait for volume. Target 100% of triangle = 3.8k zone.
Invalid if price moves back inside triangle.
Not advice - DYOR.
Ascending triangle - usually bullish but also a pattern for continuation. We entered on a downward trend so most likely to break to the downside. Target 100% of widest part of triangle - 3.7k. For a break to the upside target 9.2k.
Wait for breakout with volume before entering. Exit trade if moves back into the triangle. Not trade or financial advice. DYOR, this...
The AUDUSD pair has been trading in the downtrend channel since forming the double top. Recent breakout to the upside of the channel has formed a possible inverse head and shoulders, meaning the pair could see upside in the near future.
entry on a retest near the 0.73 area aggressive entry 0.727
Stop - 0.716 (below right shoulder)
TP - 0.757
Price has not yet reached price target following the double top. Recent false break out of the price channel and pin bar forming on the daily chart signals renewed sell signal following recent price strength to top of the channel.
T1= Price Channel support
T2 = Final price target fulfilling projection from double top
Trending within the long term channel - potential short term retrace to 23.6% around $6.4k will give good shorting entries. Bottom near $5.4k could lead to 61.8% retrace to the top of the channel which could align well with the delayed ETF date in Sept which if negative or delayed could give good FUD and good shorting entries to push BTC down to real bottom sub...