After a test to break recent highs price retrace to previous structure resistence now support. Looking to price action at this confluence level we see a potential bear trap or fakey setup. I will place a buy stop order above the high of the inside bar with a SL near the 50% of the current pinbar. This way i can go for at least a 2R
At the moment price is consolidating at the 61.8 fib ret and on resistence. It is expected a pause in the rally. I placed a sell stop order below the mother candle and the SL above the inside bar. TP is about 1.5R
Potential bearish bat pattern SL, TP1 and TP2 as usuall
Potential short opportunity in the EURJPY. Price was rejected at previous short term support now resistence and made a bearish Pinbar. PA action suggests that a bearish rotation is place and there is room to retrace at least to a 38.2 Fib ret. However we can play this setup on the short side adding positions. For the moment i will place a sell limit order at 50%...
After 3 attempts to close above 0.7135 price was rejected and broke a near term support making a double top suggesting that a pause in the short term is in place. Insted of playing a 2618 i prefer to place a sell limit order at 50% range of the bearish pinbar formed . There is plenty of room for a pullback at least to the 38.2 fib ret.
Potential bullish bat pattern SL, TP1 and TP2 as usuall
Gold just touch a major weekly resistence level with confluence with the weekly 38.2 fib retracement. It is now expected for price to pullback. In the 240m price made an inside bar at major resistence wich can give a clue that we are about to reverse. We can trade this short with 2 TP with structure and fib ret. I placed a sell stop order below the low of the...
Potential bullish butterfly pattern formation. TP are as usuall on this type of pattern. Order will be cancelled if not filled untill 5pm London time
Potential bullish bat pattern. Order will be valid untill 5 pm London time. If not filled order will be cancelled. TP1 and TP2 the usuall for this type of pattern
Bearish pinbar at value. Price was rejected at previous support now resistence and still supported by the bearish bias of the 8 and 21 EMA´S. I placed a sell limit order at 50% of the pinbar candle. Potential 2.5R
Nice price rejection at 61.8 fib ret with confluence at previous structure support now resistence. Plced a sell limit order for a potential 3R
Potential bearish butterfly pattern. Stop loss, TP1 and TP2 are as usuall on this type of formations
Looking to PA at GBPJPY it is clearly that price is in a consolidation/ trading range over the last week. Bulls cannot push price higher and bears have a slight control of the pair. Price already made a LL so it is possible that a bearish rotation is in place. An opportunity for a short entry with a good RR
Potential bearish bat formation. D point completion at 0.7055 TP as usual on this type of pattern.
Potential bearish gartley formation. TP as usuall on this type of patterns
The current rally is encountering resitence at previous horizontal support now resistence. Today price made a nice bearish pinbar at a value area. A sell limit order is placed in the middle range of the pin. This is a more conservative approach to the trade and if filled can provide a better rr
AB=CD completion move around 52.40 wich matches with a significant level of importance. D point of a bearish butterfly completion matches this level so i will expect a sharp drop at this level. At the moment price is consolidating in a pendant so a breakout to the upside will match our PRZ if we measure the lenght of the bottom/top of the pendant. So for the...