PA AT STRUCTURE LEVEL WITH OVERARCHING ADVANCED PATTERN 279/89/139
PA has at previous structure Resistance 130/57/60
1. Trade is in an established bull trend. 2. PA has retraced to the 618 level at support. 3. Case for entry met with targets set at 50% and Trade 2.
Soaring Eagle 2 Criteria met 1) PA near Structure Resistance 2) 3:1 RR 3) Bearish Trend on RSI
PERIOD 10 WEEK 2 TRADE 1 Price action has been rejected at the 1.6700 level. Priming for a breakdown with a Risk Reward Profile of 5 to 1.
Here is a perfect example of how neutral sentiment can be in the markets on the DAILY TIMEFRAME. SCENARIO 1 Lets suppose we are anticipating a BAT formation, which hasn't fully revealed itself, but we want to anticpate trade opportunites. The CD LEG of the BAT presents a great shorting opportunity because of previous structure shows a level of resistance. ...
PERIOD 10 WEEK 1 TRADE 5 184/60/92 DEEP PULLBACK INTO SUPPORT WITH BULLISH DIVERGENCE
PERIOD 10 WEEK 1 TRADE 4 391/171/195 COMPLEX PULLBACK CRITERIA MET WITH BEARISH DIVERGENCE PRIMING FOR FURTHER DOWNTURN
PERIOD 10 WEEK 1 TRADE 3 869/121/434 DAILY BAT FORMATION WITH BEARISH DIVERGENCE PRIMED FOR DOWNWARD MOVE
PERIOD 10 WEEK 1 TRADE 2 795/83/397 CRITERIA MET FOR LONG ENTRY TO TARGET
PERIOD 10 WEEK 1 TRADE 1 480/107/240 PRICE CONSOLIDATION WITH BEARISH DIVERGENCE PRIMING FOR DOWNTURN PRICE ACTION TAKE PROFITS AT 50% OF PROJECTED MOVE AND MOVE STOP TO BREAKEVEN
3:1 RR on multiple triggers. 1st trigger - PA hit 382 then retraced to 618 2nd trigger - Overall Head and Shoulders 3rd trigger - Strong resistance at 131.000 4th trigger - Brexit unease
3.54 RR PROFILE This trade provides 2 historical bearish signals with price action hovering at 1.5000 On the daily chart a Bullish Bat pattern is forming and I am entering an aggressive short trade with targets set at the pattern completion price. This trade will take several days to play out. Breakeven is 435 PIPS
315/101/157 Trade to breakeven and exit at 618 Fib.