AUDJPY has completed a bearish shark and is breaking a critical trendline support. Will enter short when price clears this trendline support. SL will be at XC 1.27 TP1: CD 0.5 TP2: 0.886 Last week's NZDUSD and AUDUSD is playing out really well too, hope you guys made some pips too. good luck and good trading!
Tonight is NFP, I am expecting USD to weaken after the release of data. A weak USD can help NZDUSD to complete a bearish shark pattern. I hope to see a exponential increase in vol when it reaches the PRZ. I expect price to stall and reverse when it completes the shark pattern. Will wait for candlestick reversal patterns and monitor RSI before my entry....
AUDUSD might be completing a bearish bat in the coming week. Whether this pattern completes has to depend on the NFP data tomorrow. It is likely to be bad, causing stocks to fall and USD to inch higher. However, if the data is not as bad as forecasted, we might see a temporary rally in stock prices and a fall in the USD. My objective is to 1. Short after...
GBPUSD is dropping pretty fast today. Most USD denominated pair have broken support today, signaling potential further easing. I am looking closely at GBPUSD, it could complete a big butterfly pattern around 1.2. Traders can either trade this C-D move or wait for butterfly completion before trading. Good luck and good trading.
There are 2 potential sharks coming up on EURJPY. Both pointing to EURJPY going higher below coming down. The 1st mini bearish shark can yield about 100 pts whereas the bigger shark can potentially yield about 600 pips trading the C-D wave. I term this move the SAMM, where I see a rapid move from the C point of a shark towards the D point. Previously traded...
I have been away from the english version of TV for awhile now as most of my students are now from China right now. My china region and taiwan region TV is still active, in case you think I was gone for good. Had quite a few good setups last week on Gold and EURNZD. Decided to come back here as I received quite a number of PMs to post here. Watch out for...
First of all, just want to wish my followers a belated Xmas and New year. Took a month off to just chill and enjoy some family time with my family. Missed a few good trades but I had no regrets. Checked out the charts and noticed AUDUSD attacked by a black swan event with alot of accounts going bust just few days back. GBPAUD which I analyzed last year flew...
A deep crab pattern is potentially forming on the pound. Be patient and wait for this pattern to complete before considering whether to go long. In the shorter time frames, I will continue to keep a lookout for patterns to short before this big pattern completes. We are approaching the end of 2018, hope we can buy low on the pound and ride a few hundred pips to...
This is a potential bullish butterfly on EURUSD. C point is confirmed after hitting a resistance at the top of the ed channel. When D completes, we can consider going long after a candlestick reversal. PRZ 1.1140 SL 1.090 TP1 1.1270 TP2 1.1340 Do not use a pending order, maximum risk should be controlled within 2% of your equity. Good luck and good trading!
Oil has rebounded off a crab pattern yesterday. It is clearly on a downtrend, but in any downtrend, there can be small rebounds and opportunities for traders to join the trend. Donald trump tweeted that oil will be lower in the coming months, but it does not mean there will not be small rebounds along the way. If oil manage to rebound to 61 - 61.20, we will be...
Can harmonic patterns work on cryptos? Let's observe what happens to Ethereum when this bullish butterfly completes. I might be interested to buy some ether when it reaches and reacts at the PRZ zone of this butterfly pattern. EP 143 SL 128 TP1 186 TP2 212 Like all other examples, no reaction no trade. If price bashes through the PRZ, we simply do not...
After the big shark completed back in Oct, GBPAUD has fallen around 1000 pips. (See related ideas) Right now, it seems to be forming a bullish shark. At the PRZ zone of the bullish shark, look left and you can see some nice daily structure support too. When price reacts near the PRZ, we could be looking at a high probability long trade. PRZ 1.7440 SL...
This is EURUSD at the final shark PRZ which is derived from XC 113 and BC extension. EURUSD correlates with DXY which i analyzed yesterday. Therefore, do not execute trades on both setup, choose one so that you limit your risk exposure. When the 4 hour candle closes above the PRZ, you can consider your long entry. SL will go 20 pips below XC 127.2 PRZ...
I have covered DXY for a long time. It has completed a daily shark and is now looking to complete a smaller h1 shark. This H1 shark will complete slightly higher at 97.40. These are the levels you can take note of. PRZ 97.40 SL 97.70 TP1 96.54 TP2 95.88 Patterns within patterns, it gives me a higher confidence to take these trades, but I will still be...
USDJPY - 2 Sharks at different timeframes, what can you expect? On the hourly chart, USDJPY has completed a bearish shark. We are right there at the PRZ right now. If the market reacts and USDJPY reverses from here, we can expect it to reach 112.95 which is the TP1 of the shark pattern. Small Shark execution PRZ 113.30 SL 113.70 TP1 112.95 TP2 112.65 At...
This is a bearish shark completion on NZDJPY H1 chart. Right now we have a reaction at PRZ. SL will go above XA 127.2 PRZ 74.20 SL 75.20 TP1 73.35 TP2 72.60 No reaction no trade, risk per trade should not exceed 2% of your account size.
This are 2 potential setups on GBPUSD. The first one is an imperfect bat which could turn anytime soon. The reason it is imperfect is because the B point has slightly exceeded XA 0.50. However, it did not touch 0.618 and it is still technically still a Bat. I have my reservation on this as a B point between 382 to 618 could result in a Crab. The next few days...
This is the 4 hour chart of AUDUSD. It is currently still on a big downtrend within an ED channel. Harmonics can be used to pick big market reversal, but it also can pick smaller reversals that aligns with the bigger timeframe. In this case, we have a bearish shark which aligns with the h4 bearish trend. PRZ: 0.7160 SL: 0.7210 TP1: 0.7090 TP2: 0.7040 We...