I hope you enjoyed your weekend!
GJ is potentially going to continue its bearish movement as of late. Price action is well below the 100H MA and is testing the trend line I've drawn on the chart on the 1H time frame. Also, the 15M chart shows a double top test of the trend line and price action has now closed below and retested the neckline of the...
Taking a look at cable on the daily we can see price action has now reached a previous level of resistance in confluence with an overextended AB=CD pattern (D completion in range of 1.618BC). On the lower time frame (4h) we can see a head and shoulders top, which is a classical bearish chart pattern. Although I don't use RSI anymore, I would wager...
Cable is putting in two potential advanced patterns. One long and one short. There is a Bat on the short side and a Cypher on the long side. I have no bias and will execute a trade based on whichever pattern completes.
Been a while...
Gold has printed a bullish bat in confluence with the underlying trend. Initial targets and my personal entry is on the chart. Around 230 PIP risk for me, but a great R/R ratio overall, especially if TP2 is achieved.
MMED has broken out from a recent steady downtrend. The upside breakout occurred one day after a news announcement (new potential pipeline and phase 1 testing). Note that the down trend was losing steam from a volume perspective, which in my opinion is the second best indicator after price action (it's unfortunate forex does not have accurate...
Good morning traders,
The market is presenting us with a potential bullish bat pattern with additional confluence, specifically structure. The potential entry/completion point of the pattern is aligned with multiple tests of this region. There's also some ratio confluence, which I have not indicated on the chart here.
We have a selling opportunity on NZDUSD at structure. The market is overbought at this level. We have additional confluence here as there are several key ratios aligning in this region and the trade is in the direction of the underlying trend. For harmonic traders there is also a bearish shark pattern available. Some initial targets have been...
Good morning traders,
I am waiting for a retest of this dynamic structure indicated in purple. Looking to go long upon confirmation. Stops would be below the pennant formation and initial targets in the $1800 region.
Good morning traders!
We have a potential structure based selling opportunity on CHFJPY. The pair has broke out of a trend line on the higher time frame, so there is a chance that there could be a brief period of selling we can capitalize on. Sell on confirmation only. Right now the market has paused at a key 111.500 level, which is a proven level of...
Bearish shark presenting itself on NZDUSD on the 4h time frame. The trade is in the direction of the underlying trend. I don't trade sharks (yet) as I have not completed backtesting on them. This post will act as one of my forward tests.
Bearish alternative cypher and bearish Gartley completed on the 4h chart of CADJPY. There's overall downside momentum on the pair from the higher time frame, however, if price action breaks past the consolidation high this could signal a potential reversal to the upside.
This morning we have three potential patterns forming in tandem with one another. The first pattern to complete would be the bearish cypher pattern. The second would be a bearish bat, which completes beyond the D point of the cypher. My personal preference is to trade the bat pattern as it offers a better R/R than the cypher, however, both are...