An Emerging Bearish Bat Pattern gives the counter-trend trader an opportunity to engage the trade. Trend Traders can wait for the market to retrace to 1.3793 for a buying opportunity.
The red box(sell zone) is drawn on the daily chart, I'm waiting for a bearish engulfing candle on the 1-hourly chart for a shorting opportunity.
GBPUSD is the exact opposite situation compare to EURUSD. GBPUSD Daily Chart is on a Bullish trend whereas the 1-hourly and 4hourly is on a bearish trend. Check out the EURUSD post if you like to understand why the market move in such a manner. My plan for GBPUSD is to wait for a retracement back to 1.3768 but not breaking and closing above it.
In trading there's a common saying that the market will either goes up or down, that statement isn't true. What's true is that when a market consolidates, it will definitely break out of the consolidation. You can wait for the break and close beyond the trendline and start planning your trade.
The candle has broken and closes above the bearish channel on its daily chart, it shows a potential change of trend, on top of that the Bullish Bat Pattern is about to form up. I will wait for candlestick confirmation at 1.2518 for a trend reversal trade.
If you are a Harmonic Pattern Trader, allow me to ask you 1 question. Why is this trade setup not a Gartley Pattern, not a Deep Gartley Pattern but if it forms up it will be a Crab Pattern? It is easy for one to read up and claim proficiency in the area, but what's more important is that you are able to identify the difference and avoid unnecessary losses. The...
If you have been reading my analysis, you might be thinking USDJPY will be alike to EURUSD or GBPUSD. Well, not this time. USDJPY is in a unique situation where the daily chart is on a bullish trend, 4-hourly chart a weaker bull(which I will not take action) and 1-hourly a bearish trend. Knowing how to identify the trend helps a trader to determine if they are...
EURUSD on the daily chart shows a bearish trend, but on the 4-hourly and 1-hourly chart is on a bullish trend. This could mean that the lower-time frame shows a potential of change of trend or it is merely a retracement within the bigger bearish trend. What should you do then? Trade what you see, or don't engage the trade if you aren't comfortable. As for me,...
A bearish crab pattern form on the daily chart of EURJPY with an RSI Divergence. This trade can take up to 2 weeks for it to complete its run. Patience is required. Are you game for this?
Trendline - 1 of my favourite tools I use for trading, it is suitable for most trading situation and when using right, it can be a leading indicator. As long as the candle didn't close above 0.7043, the bearish trend stands. Breaking and closing below 0.6997 shows that the strength is having a strong bearish run.
A trend trading opportunity on the daily chart is a product of a bearish run on the daily chart(link below) that I've shared on last weekend. Congrats to those who have taken action on the trade. Stop-Loss goes below X with our designed buffer. If you have attended our webinar on 28March, you can start to apply trendline on this setup.
A potential trend reversal trade might be in place. Having a break and close below the buy zone(turned to consolidation zone) is the 1st clue for a shorting opportunity. Market retraces and touches the red line without closing above the red line is the 2nd clue, the red line act as a Key Resistance Level, DM me if you don't understand. If the 8am(+3UTC) close as a...
A confirmed bearish bat pattern on the daily chart on GBPAUD as a trend trading opportunity. I'm waiting for a retest at 1.8241 on GBPAUD's 4-hourly chart to engage for the shorting opportunity.
This is not the usual head&shoulders formation that I trade, it is because it didn't meet 1 of my critical criteria. But in this case, if the market retrace to 0.7599 and didn't close below 0.7591 on the 1-hourly chart, I may still consider to engage the trade
Consolidation reacts very differently on the USDJPY chart than other pairs, when consolidation happens on USDJPY, it could mean that the market is taking a break before the continual movement. I'm waiting for a buying opportunity at the key support level at 110.39, stop-loss will go below the blue box with our in-house buffer.
While GBPUSD is on a bullish trend, there is a counter-trend trading opportunity on the 4-hourly chart. A bearish Bat Pattern completing at 1.3965 for a shorting opportunity, but first, the market has to break and close above 1.3855 to make it even possible.
EURUSD came a bit shy away from the Bearish Butterfly entry price at 1.1792 and because of that, the Harmonic Pattern may not form up. Should EURUSD retraces back up, I will watch closely at 1.1781-1.1792 for a shorting opportunity as a trend trading setup.
AUDCAD on the daily chart has shown a buying opportunity. Most shark pattern will usually consolidate at point D before the real move, I'm waiting patiently for its retracement on the lower-timeframe for a trend trading opportunity.