EURCAD price just has confirmed Head and Shoulders Pattern,
After broke down the neck line.
It's a Short signal T/P 1 at Trend Line drawing from 2 previous swing low.
and T/P 2 at the height of the head to the neck line projecting from the break down level.
EURJPY D1 has formed the Tweezer Tops Pattern.
It's 2 consecutive bearish pin bar that made the high around the same level.
Moreover, the stochastic %K has just crossed %D down, which signal the bearish momentum might be started.
It's a short signal. TP is around SMA20 , SL is just 10 pips above the high of the pattern.
Yesterday the EURUSD shot out of the mother bar range to 1.1500 then retraced to close near the open.
Then, It's is the Fakey Set up to take a short position.
Carefully looking for the level that the price will be reverse today probably 1.14500. Goodluck !
AUDNZD has formed the Head and Shoulders pattern and it's confirmed by the break down below the neck line.
Last night the price went down further after the pull back. The market bias is fully bearish.
If you don't have any position. Wait for the a little pull back which can be around 1/3 of the latest bearish bar to entry short position.
The target is at the...
EURUSD D1 formed the Bullish Engulfing candlestick pattern at the support zone ( previous swing low ).
Trading Long can be planned by aiming the previous swing high or around 1.1600.
However, we can look for the better entry price if the market retrace to about 1/3 of the last bullish candle.
Place the stop right below the low of pattern.
NZDCHF Bollinger Bands Reversal
Good risk reward ratio when price moved out then came back from lower bollinger bands.
As well as the candle stick pattern combo with hammer and bullish engulfing.
Target around Upper BB or previous high.
Tanakorn Koomrampai CMT®, CFTe®
I admit missing this trade because it's H1 time frame. However, when looking back , I think it's worth to study the price structure and its behavior for the future use.
USDJPY H1 Time frame formed the reversal chart pattern called "Inverted Head & Shoulders". This one has a little complex right shoulder but it's normal to happen.
When we see Inverted H&S...
How to use Bollinger Bands to assist waves count?
Waves counting is an important tool to identify the price structure and help better timing the market entry.
Many traders might find waves counting is a mystery, subjective and waste of time.
Anyway, I often use it to see how the market structure.
I have a little help from a very versatile indicator ,The...
EURUSD H1 Chart pattern Inverted Head & Shoulders has been confirmed by the price has broken the neck line.
We can estimate the target profit with classic method, measuring the distance between Head to Neck line, then, project this height at the break out point.
A very good indication of good Inverted Head and Shoulders is that the low of the right shoulder...
The price came back to the support. Then I have waited for a candle stick confirmation which it's has confirmed by the hammer candle. TP@ previous high 1.40000. It's also a round number which is good to be a valid S/R.