THIS TRADE IS STRAIGHTFORWARD. TRADE IS AT THE OPTIMAL RISK REWARD CURRENTLY WITH STOP LOSS AT 1.0800. IF H4 MANAGES TO CLOSE ABOVE THAT LEVEL BEARISH SENTIMENT IS ALREADY INVALIDATED. THUS IT IS VERY SAFE TO PUT THE SL THERE. PRICE IS CURRENTLY AT THE 61.8% OF A 61.8% OF A WAVE DOWN. CONFLUENCE: H4 200SMA H4 20SMA 61.8% FIB D1 20SMA EUR IS OBVIOUSLY WEAK,...
THERE IS QUITE A LOT CONFLUENCE FOR THIS TRADE I THOUGHT MAYBE I SHOULD POST IT OUT THERE. NOTE: MARKET IS TOO SILENT NOWADAYS, NOTHING IS GOING THE WAY IT IS SUPPOSED TO BE. THUS, THIS TRADE MAY NOT WORK OUT. BUT OBSERVE THE CONFLUENT I POINT OUT AND MAKE YOUR OWN ANALYSIS. W1 BEARISH ENGULFING D1 20SMA 50SMA RESISTANCE H4 20SMA 50SMA RESISTANCE D1 50%...
BUY NOW AT 92.00 SUPPORT LEVEL H4 20SMA AND 50SMA D1 20SMA AND 50SMA W1 BULLISH ENGULFING PATTERN
THIS TRADE SHOULD WORK OUT PRETTY WELL. REASON BEING "RANGE TRADERS" WHO BOUGHT AT 1.24 TO TRADE THE RANGE ARE STILL STUCK IN THEIR LONG TRADE, SOME OF COURSE HAVE BEEN STOPPED OUT, SOME HAVE NO STOPS AND STILL STUCK. THEREFORE THESE TRADERS WHO ARE UNWILLING TO CLOSE OUT AT A LOSS HAVE THEIR STOP LOSS AT BREAKEVEN, I.E. 1.2400. D1 50SMA 20SMA APPROACHING 1.2400...
D1 PRICE FAILED TO CLOSE OUTSIDE OF THE WEDGE PATTERN. FORMING A D1 PIN BAR. POSSIBLE SELL NOW. IT IS FORMING THE 5TH WAVE TO THE BOTTOM OF THE WEDGE CURRENTLY. DO NOTE THAT EVEN THOUGH D1 FAILED TO CLOSE OUTSIDE OF THE WEDGE. THE H4 HAS ACTUALLY CLOSED OUTSIDE, BARELY. PRICE MAY "RETEST" THE WEDGE AFTER THIS "BREAKOUT" BUT I AM MORE CONFIDENT ON THE D1, THUS THE...
W1 CLOSED WITH A STRONG W1 REVERSAL PATTERN (BEAR TRAP / FAKEY FORMATION) LET ME EXPLAIN WHY THIS PATTERN IS STRONG. USUALLY WHEN THERE IS A INSIDE BAR ON THE D1 W1. TRADERS WOULD TRADE THE BREAK OF THE INSIDE BAR OR THE MOTHER BAR (CONSERVATIVE). LAST WEEK THE PRICE WENT BELOW THE INSIDE BAR, CAUSING SELL TRADES TO TRIGGER, FOLLOWED BY CLOSING ABOVE THE INSIDE...
SHORTING NOW FOR GOOD 30 PIPS SL. BASIS FOR SHORTING IT IS SIMILAR TO MY PREVIOUS IDEA. THIS IS ALSO THE DEFINITION OF GETTING BACK AT THE MARKET. THIS IS MY SECOND ATTEMPT ON SHORTING THIS. PRICE HAS ALSO MET WITH RESISTANCE AT THE D1 SMA. THIS TRADE HAS GOOD RISK REWARD AS I WAS ABLE TO GET IN AT 177.95. NOT SAYING THAT THIS IS A SURE WIN TRADE. BUT I HAVE...
SIMPLE TRADE. SELL @ 1.018. EXIT TRADE IF H4 CLOSES ABOVE 1.0200 AS TRADE IS ALREADY INVALIDATED IF H4 MANAGES TO CLOSE ABOVE 1.02 RESISTANCE. TARGET BTM OF FIB LEVEL AND BEYOND(DEPENDS ON CIRCUMSTANCES) CONFLUENCE 61.8% FIB LEVEL D1 20SMA 1.0200 RESISTANCE ALL THESE AT PREVIOUS SUPPORT TURNED RESISTANCE AUDUSD HAS BEEN ON THE UPMOVE FOR MORE THAN...
AS MENTIONED IN MY PREVIOUS IDEA. WAIT FOR BEARISH PRICE ACTION AT THE RECTANGLE AREA BEFORE RE ENTERING A SHORT INTO TREND. SUPPORT TURNED RESISTANCE H4 50SMA RESISTANCE D1 20SMA RESISTANCE SO AGAIN, BASIS FOR TRADING THIS IS BECAUSE ON THE D1 PRICE HAS BROKEN THE TRIPLE BOTTOM AND MADE A NEW LOW. THUS, IT IS ALREADY CONFIRMED BEARISH BIAS AND WE WILL...
ASCENDING CHANNEL. D1 PRICE REJECTED FROM 91.00 AND FLOOR OF CHANNEL YESTERDAY, FORMING A NICE PIN BAR (ALTHOUGH BEARISH BLACK IN NATURE BUT STILL A PIN BAR THAT CLOSED ABOVE ITS 50%). SIMPLE TRADE. BUY NOW EXIT TRADE IF H4 CLOSES BELOW 90.37 FOR 2 BARS CONSECUTIVELY, (1 BAR IS FINE 2 IS ABSOLUTELY NOT) RISK REWARD CAN BE ANYWHERE BETWEEN 2 TO 5 (MID OF...
THIS IS A BUYING OUTLOOK, HOWEVER OPPORTUNITY TO BUY HAS NOT PRESENTED ITSELF YET. PRICE HAS BEEN ON THE DECLINE FOR 8 DAYS STRAIGHT WITHOUT TAKING ANY BREAK. PRICE HAS RECENTLY CLOSED BELOW 127.00 ON THE D1. I AM LOOKING FOR A D1 PIN BAR FAKEY OR EVEN A H4 PIN BAR FAKEY CUTTING 126.00 - 126.5 REGION. PRICE MUST NEVER CLOSE BELOW 126.00 FOR 2 H4 BARS...
JUST AN IDEA, FOR A QUICK GET IN GET OUT TRADE. I WOULD SAY THIS IS CONTRA TREND WITH LOW RISK REWARD. THIS IS BECAUSE IF YOU TAKE THIS TRADE, YOU ARE TARGETING THE BOTTOM OF THE CHANNEL WHILE PRICE IS AT THE MID OF THE CHANNEL CURRENTLY. USUALLY BEST PLACE TO TRADE RANGES IS AT THE TOP OR BOTTOM. PERSONALLY I DO NOT THINK THAT THE PRICE CAN BREACHED THE LOWER...
SELL AT 176.95 WITH PRESENCE OF CONFIRMATION. ANALYSIS IS WRITTEN CLEARLY AT CHART TOO. SELL AT SUPPORT TURNED RESISTANCE TRIPLE BOTTOM BROKEN, UNBELIEVABLE W1 BEARISH ENGULFING USUALLY WHENEVER I SEE A BEARISH ENGULFING AT W1 I WILL PLACE A SELL AT 50% OF THAT BAR. 176.95 WILL BE NEAR THE H4 50SMA AND 20SMA THIS TRADE WILL STILL NEED CONFIRMATION AND IS...
GBPUSD REACHED NEW LOW. SELL ON RETRACEMENT 1.4800 PREFERABLY UPON CONFIRMATION OF REJECTION PATTERN. NEAR D1 20SMA NEAR H4 20SMA AND 50SMA SELL AT RETEST OF THE D1 PIN BAR 1.4800 PRICE REACHING NEW LOW IS BEARISH BIAS FOR ME AND WE SHOULD ENTER AT RETRACEMENT TO JOIN THE BEARISH SENTIMENT. CAREFUL TRADING THIS ONE, REQUIRES FURTHER CONFIRMATION H4...
BASIS FOR SHORTING THIS TRADE PIN BAR FORMED AT 0.7700 RESISTANCE D1 20SMA AND 50SMA H4 200SMA 50% FIB PRICE HAS FAILED TO CLOSE ABOVE 0.7700 3 TIMES ON THE D1 SLIGHT BEARISH DIVERGENCE ON THE H4 HOWEVER, THE ONLY OFF THING ABOUT THIS TRADE IS THAT THE RISK REWARD CURRENTLY IS NOT FAVOURABLE. THUS, I MAY KEEP MY HANDS OUT OF THIS TRADE. H4 CHART ...
BASIS FOR SHORTING THIS TRADE IS BELOW REACHING THE END OF THE TRIANGLE PATTERN BREAKOUT COULD BE UP OR DOWN YES, BUT CORRELATION BETWEEN AUDGBPEUR AND NZDJPY SUGGEST DOWNWARDS BREAK MORE PROBABLE D1 HAS FAILED TO CLOSE ABOVE 0.76 4 DAYS STRAIGHT LASTLY, FOR CORRELATION REASON AND SIMPLY I FEEL NZDUSD HAS OVEREXTENDED ITSELF. SAME AS AUDUSD WHICH HAS...
PRICE WENT BELOW THE LOW OF THE PATTERN BEFORE REVERSING STRAIGHT UP ENTER LONG ONCE H4 CLOSES ABOVE 1.243 THIS IS SOMEWHAT A BEAR TRAP, HIGHLY EFFECTIVE TRADE IMO ONCE CONDITIONS ARE MET REASON BEHIND THIS IS BECAUSE PEOPLE CAUGHT WITH THEIR SELL IN THIER POCKET WILL BE FORCED TO CLOSE/STOPPED OUT OF THEIR POSITION. THUS, WE ARE RIDING THE WAVE ON THIS ONE....
AUDUSD HAD A SPIKE UPWARDS. THIS SPIKE HAS MET RESISTANCE AT 0.77 FAILING TO CLOSE ABOVE IT. MOREOVER ON THE D1, PRICE HAS BROKEN THE MOTHER BAR AND FAILED TO CLOSE ABOVE IT SINCE, CREATING A FAKEY. SELL NOW AND TARGET 0.76. STOP OUT POSITION IF H4 SUCCESSFULLY CLOSE ABOVE 0.7700 OR BREAK THE HIGH OF THE H4 PIN BAR.