Lets have a 2nd attempt at this short setup on the pound...
- Harmonic shark bearish pattern (still valid)
- Supply level test/rejection
- fib cluster with 200% extension and 327% projection
Looking for a Friday flip trade here after an up week, potential strong bear move if the resistance level holds up. Great Risk reward opportunity.
A few confirmations line up for a potential bearish move in GBPUSD:
- Harmonic shark bearish pattern
- Fresh supply level test/rejection
- fib cluster with 200% extension and 314% projection
This in addition to the US dollar index finding support at a fresh demand level is my reasoning for a bearish bias. Looking here for a 4:1 reward:risk trade, with risk just...
Several factors pointing to potential bearish directional turn for EURUSD:
- Fibonacci cluster zone with 127.2 ext., 61.8 retr., 161.8 proj.
- High volume node retest as resistance
- retest of Weekly Supply zone dating back to 2014
- short term supply zone from 2/06/18
Looking for a higher risk reward on this trade with risk above 1.2440 and targeting 1.2080
Looking for a short setup here as price is showing signs of further bearish movement:
- 38.2 % fibonacci retracement
- test of supply or resistance zone (3 touches, last one lower high)
- retest of 55 and 34 EMA's
- weak reaction off trend line support, signs of potential breakdown
- end of elliott correction wave b at fib retracement
Looking for a 4:1 risk...
Taking a look at GBPAUD we see a few indications of a reversal and continuation to the downside:
- Elliott wave completion of 5th wave on daily time frame
- additional shorter time frame elliott wave completion on 4hr.
- Fibonacci cluster zones lining up at fresh demand levels
- Rejection of fresh Supply level at 1.80
- Bearish engulfing pattern to close the...
a few indications of a bearish move
- elliott wave 5 completion
- bearish cup structure
- price channel resistance test
- whole number resistance at 1.80
- fibonacci cluster at resistance zone
- fresh supply level test
Looking for 3:1 reward:risk on the setup with risk above the 1.80 price level
A few factors I see pointing to bearish bias:
Price is nearing the 2 month trend line resistance level
which also meets the supply zone
high volume node
and harmonic shark pattern.
Looking for a 3:1 reward to risk setup with risk just above the supply zone.
Looking for continuation of the bearish momentum
- price reacting off 38.2 fibonacci retracement level
- price retesting the 34 EMA as resistance
- reaction off low volume node as potential resistance
Not enough confirmations to be considered a high probability setup, but the pause after the bearish momentum is pointing to either a reversal or continuation. I'm...
Several factors pointing to a potential turning point:
- Fresh Supply level from 12/8/17
- High volume node resistance
- Elliott Wave 5th wave completion
- Harmonic Crab pattern
- Trend line support turned resistance retest (from 9/8/17)
- doji/indecision candlesticks
With the above 6 factors I consider this a high probability trade setup for the short side
Looking for a regression to mean trade here after price extension.
- Price retesting 5 month trend line support turned resistance
- Price also coming off fresh supply zone from December
- Harmonic crab pattern
- 4 hr reversal candle
With the above factors lining up in the same zone, I consider it to be a high probability trade setup. First level of reaction...
Looking for a potential short setup here with
- double top lower high
- favorable reaction off low volume node
- supply zone
Not considered a high probability setup, so keeping risk small with a target below 1.91. I'm risking half the normal per trade risk on this one.
Several factors pointing to potential long setup:
- near 61.8 retracement
- demand/support level retest
- end of elliott wave 5 wave structure
- Volume profile high volume node retest
- 4 hr reversal candlesticks in current zone
Looking for longs with risk set at 1.7327 and a 3.84R target.
Potential long opportunity, confirmations include 4hr harmonic shark pattern, 1hr ema retest, previous resistance turned support, and target is at 1.72 supply level. Use discretion as I dont consider this a high probability trade but still an opportunity
High probability short setup here:
- Shark harmonic pattern
- Fresh supply zone
- price reaching 10 month downtrend channel resistance
Thursdays is a busy day of economic releases in CAD, including core CPI, Retail Sales, and ADP non farm employment numbers, which should bring significant volatility.
Here we see several confirmations lining up:
- fib cluster zone
- december trend line resistance
- harmonic type pattern
- supply zone
As well as price ranging at a long term supply level on the weekly/daily charts, only looking for shorts for the longer term here.
Here we see several factors lining up as confirmation in a zone between 1.1713 and 1.1760
fibonacci cluster zone
8 month trend line support test
head and shoulders bullish pattern
With these confirmations lining up there's a solid risk return setup to go long
Good risk/reward setup to short in direction of larger trend on this pair. Several confirmations lining up in a confluence zone:
- Supply zone
- 3 month trend line resistance retest
- harmonic type pattern forming
-Fibonacci cluster zone
Looking for shorts on any push back into that zone between 86.45 and 86.85, if price breaks the moving averages...
Here we see several factors pointing to a potential reversal this week
- supply/resistance zone retest
- elliott wave 5 sequence reversal
- rejection of 114 price level
- double top pattern
to go short would need to see a break of lower trend line with confirmation (lower high retest)