coming to major level here very strong, cad is completely dead this morning lol
probably a break and will be watching for the retest, beware cuz its friday and quadruple witching day (google) so it may be a fakeout and give large large wick
i will be waiting for last kiss or that big fat fakeout
read higher tf PA :))
If this 30m candle closes favourably with the fibo rejection in the sweet spot the H1H2 double top in down trend shes ready for some meltage
the trend is down overall, trade with the trend :)
only take if we get nice price action showing short signals
Bear trend, looks like bear flag/DropBaseDrop
if not it will most likely come up to that trend line, reject and SHORTS AWAY
Risk reward should be pretty good at that trend line, potentially 1:1 if trading breakout from current congestion zone
upward channel, 1:1 RR
rejection 3x on 15m nice doji on 30m
last kiss of support and the overall uptrend
in and out 13 pips 15 minutes
no draw down on this trade when entered on the last 15m rejection bar
happened right after 8:30am EST news
gave us a good push up and wick rejection on the resistance zone
bear engulfing on 15m and double confirmation on 30m with RRT as well as 1h gravestone doji that later confirmed as well
also right around 70 RSI on 15m
in a tight range, sell res buy support keep it simple
risk reward near 2 depending on entry and TP
Two scenarios first is explained on the chat,
the second short scenario would be a clear break of that consolidation zone and trend line
bias this week is bearish because of the weekly doji and weakening euro since the start of 2019
risk reward ratio is nice, 14ema is below 50ema on 1h tf confluence with the short bias
why i expect it to go up first is because...
Nice double top here, NY choppy wick time, then shows sweet doji on 15m tf signaling the drop after the retest of neckline/last kiss on the double top
while the overall trend is bearish
pretty awesome RR for scalper to next zone, small pips to W or L but consistency is what matters most
another great confluence is the 15ema 200ema cross we see right as the entry...
little bit harder to see here, this is good example of using line chart to make market structure more clear
turn line chart on and clear double top happens, trade entered after hanging man signal during NY/London close push
great reaction in recent past from this supply zone, strong pushes away and comes back to fill more orders at end of week
overall trend is...
Trend is down since beginning of week
Beautiful market structure, drop base drop, over and over
clear break bears in control after high tf strong bear close outside zone ready for another push with NY/London cross volume
4h morning star
1h morning star early london momentum still moving up
higher time frames always win so need to trust
we have triangle formation waiting for break with our long bias from higher tf
we get a last kiss on 15m with lots of nice rejection dojis
one more push and rejection of down trend line and then a break with the 5m tf
also 30m ftr which was a...
Simple, on resistance, rejection of pinbar / gravestone doji on 4h (powerful signal) and bear engulf Rail Road Track type,
Short until next major support / potential trend line (TL not confirmed until third touch)
Moving SL into profits along the way
Have your directional bias from higher tf and pick best entry on smaller tf to minimize risk and drawdown and...
Triple bottom reversal pattern, confluence with audusd short analysis (posted before this), Daily bullish doji, 4h huge pin bar and rejection of lower price, Bullish engulfing type on 4h to follow pin bar
Wait for downtrend line to break and retrace, buy the dip and ride the trend
Take profits before / at the next resistance major zone BEFORE the 1h 200ema and...
Risk Reward 3.21
Coming off a Triple Top (Blue) on higher tf (as seen on 4h), Smaller tf (look 1h) a double top (orange), Daily candle FTR pattern, 4h Inside bar Bull fake out pattern
Momentum is down, accelerating faster pushing to break the zone, wait for clean break, retest of resistance which used to be support, candle stick signal like an engulfing for...
120 pips total
80 from top of second high 40 from the retest of neckline
This is the text book M formation/double top, a scalp trade turned swing trade
Take note of the psychological resistance level as well
The hanging man in London, the drop in NY, retest of neckline and complete the gap fill in Tokyo
Basic candle stick pattern, basic double top...