My last GBP/CAD idea rolled over, so I’m just responding to what the market is doing. I can go 1 for 5 with the proper R:R, so losing a trade is part of the process. Looking at the this idea under 1.7500.
I usually stay on the sidelines on Fridays, but I like GU at this 1.25 level as it is a major decision area. This market broke to the upside, and is now retesting this level. Looking for at least a move into the previous impulse high. My last two trades have been short as I am biased to the downside. If this market bounces of 1.25 to the upside I will be looking...
I'm already biased to the downside on this pair below 1.2500. I only like to trade harmonic patterns at major levels, so If this cypher completes, I'll look to enter another short position. As always, follow your plan.
Entry: 1.2495 - 1.2500
GU has bounced off of a major level at 1.2500 and is now showing signs of reversal. Looking for a strong move to the downside. As always, follow your trading plan.
Entry: 1.2442 - 1.2450
TP1: 1.2352 (About 1:2 RR)
Looking at GPB/NZD, and I see a bat pattern forming. Looking for buy setups on the ride from the C to D completion. Just broke through a resistance on the m15 and retested.
R:R = 2:1
Entry: 2.0675 - 2.0685
Nice Gartley pattern formation setting up here on GBP/JPY. The entry is over 100 pips away, so I'm looking for short term buy set-ups in anticipation of the ride up. I'll then be looking to sell once the pattern completes. Entry, targets, and stop loss are on the chart. As always, make sure to follow your rules. Good luck trading!
We have a potential bat pattern forming here on EJ. The last bat paid out nicely for me, but I did not post it in time, so here's a second chance. If it does complete, I will look to get involved on smaller time frames. Entries, stops, and targets are on the screen. I'll likely be looking for short term long setups as we ride up. As always, make sure to follow...
We have all seen the run up on gold (XAU/USD), but we've come into a key level of resistance, and just broke an upward trendline to make a lower low (on the 15 minute chart). We also have divergence on the RSI that caught my attention. This is a counter trend trade, so trade with caution and only if YOUR rules are met.
Entry: 1424.50 to 1425.50
This market has had a sharp decline, and now I am expecting a retracement. We just came into a previous demand zone, accompanied with RSI divergence, so I expect a rally likely into the 50% retracement zone. As always, follow your trading plan.
After missing our Bearish Bat entry by a few pips (I was able to find another entry reason to get in later), the market has started to put in a potential bullish cypher formation at a major structure level. I'll be looking to get in with a 50 pip stop. As always, make sure that you follow your rules.
The Euro has been extremely bullish in the recent past, and looking at the EUR/GBP, I am identifying a potential short at structure with a Gartley pattern completion as a reason for entry. Tight stops here due to recent bullish strength. As always, follow your own trading rules, and good luck trading.