Last Week, I mentioned my plan to await a suitable shorting opportunity on the EURUSD, owing to the retest of resistance with RSI divergence. As anticipated, this move resulted in a total profit of 205 pips (equivalent to 2,050 USD/lot) based on the difference between the opening and closing prices. My strategy for this week remains unchanged, and I am still on...
Dear friends, I am excited to share with you my recent prediction on the US economy. As many of you may have seen in the news, invoking the 14th Amendment could be the solution to removing the debt ceiling, which would have a significant impact...
A Bullish Butterfly Pattern retest give traders who were looking for buying opportunity to engage the trade. What I like about this setup is that a clear RSI Divergence is within the butterfly pattern
If you have been keeping up with my previous analysis, you would have known that my strong interest in buying the AUDCAD is not a crazy obsession, but a well-informed decision based on market trends and patterns. In fact, if you had engaged in the trade last week, you could have earned a substantial amount of profit, up to 139pips or approximately 1,390 USD...
Traders who missed out on the previous shorting opportunity may have a second chance at hand with the potential setup of Type2 Bearish Shark and Type2 Bearish Deep Gartley pattern in the market. However, it is important to note that one of the downsides of Type2 setup is its unpredictability, and it may not always work. To mitigate the risk, it is crucial to...
US Dollar has been in focus recently due to several factors such as debt limit concerns and bank failures. However, my analysis indicates that the Dollar is still bullish and I'm looking for a buying opportunity at 133.75, provided that the support level holds. For those who are seeking shorting opportunities, the red trendline could be a potential entry point....
Despite being within the sell zone on the weekly chart, there has been a clear break and close above the previous structure. This has led me to adopt a bullish stance on the mid to long-term outlook and I'm currently waiting for a buying opportunity on the 1-hourly chart. The buying opportunity may arise either at the trendline, if the candle touches it but...
Patiently waiting for a prime shorting opportunity on EURUSD as the market struggles to breach the crucial level of 1.1093 on the weekly chart. My strategy involves utilizing the Bearish Shark Pattern setup, which shows completion at 1.1097 on the 1-hourly chart. With a calculated approach and keen attention to market behaviour, I am poised to execute a...
Actor Rob Lowe went on strike with his son, writer and actor John Owen Lowe today; several iconic tv network people that go on strike caused some of the late-night shows force to cancel new episodes and were set to air re-runs after...(more tonight)
Within the consolidation zone, a bearish shark pattern has emerged, and with the presence of a magic candle, it presents an opportunity for an aggressive trade entry. The consolidation phase offers a prime opportunity to identify harmonic patterns.
After a considerable wait, the bullish bat pattern has finally been completed, indicating a potential buying opportunity for traders. However, conservative traders may want to wait for the candlestick to close at 1.2463 before entering the trade. On the other hand, I took a more aggressive approach and entered the trade today, given the presence of two...
This particular trading structure may be viewed as an aggressive approach, but it presents a compelling setup for counter-trend traders. The first target is in close proximity, affording the opportunity to adjust our stop-loss to entry once the market reaches that level. This grants us a Risk-Free Trade, providing a favorable risk-to-reward ratio for traders who...
Upon analysis, there are multiple factors that indicate a potential buying opportunity for AUDCAD. Firstly, the bullish 5-0 pattern on the Weekly chart was identified and discussed in my previous report. Secondly, various trading strategies have also pointed towards a buying opportunity. For example, the 4-hourly chart shows a tested support level at 0.8954,...
Looking ahead, the EURJPY is poised to be the most trending pair in the coming week, with a bullish Euro and bearish Yen driving the market. This presents a great opportunity for trend traders, as the pair is expected to rise steadily. Personally, I will be watching for a retest of 149.53 on the 1-hourly chart as an entry point for a trend-continuation trade....
In recent times, we have been bombarded with headlines such as "Dollar Slide", "US Debt Ceiling Closing", "US Bank Failure", "19 Countries show interest in joining the BRICS". While these news items may give the impression of a weakening US Dollar, it is important to take a closer look at the chart. Contrary to these headlines, the US Dollar is actually...
On closer analysis of the GBPUSD on a higher timeframe, it is evident that the candlestick has closed above the previous high, thereby confirming the bullish trend of the currency. However, one must exercise caution before diving in, as the current market price is currently situated on the weekly chart supply zone, which traditionally indicates a sell zone....
The EURUSD demonstrates a clear bullish trend based on the current market conditions. As a result, trend traders may seek to capitalize on potential buying opportunities at the support level of 1.0967. Conversely, counter-trend traders may be interested in shorting the currency pair at the resistance level of 1.1035-1.1044 while placing initial stop-loss orders...
Today I spotted a potential opportunity on the M15 chart. Although it may not offer the highest returns, it's a great way to generate some income and gain more experience in trading Harmonic Patterns. Personally, I'm looking at the Bearish Gartley Pattern for this trade.