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2618 Trade

GBPNZD: 2618 Trade and Bullish Libra PatternAlthough the UN's election gived GBP a hard hit, still bullish opinion is held on GBP/NZD. The double bottom formed and the market is pulling back the 0.618RET where also a good Demand Zone locates. Meanwhile the strong support also works at this zone. Additionally, the bullish Libra Pattern is forming. Maybe it is a long term buying opportunity. So it is good to buy at 1.750-1.763 levels when the price pulls back again and gives signals in the PRZ. SL: below 1.740 TP1: 1.874 TP2: 2.0 and further more
Long
by AdamHong
2618 on EURUSD!Hey guys, this is a 1hr chart on EURUSD and as you can see price is still in the yellow box that represents a resistance area. I've already shorted this pair two times in the recent past (one with target1, one at breakeven). And it's now creating another short setup, in the form of a double top broken to the downside, this signifies price wants to go lower and a 618 retracement is a good place to sell, according to the 2618 strategy. The background conditions on the daily are still the same. Bat Pattern completed and structure zone. Let's see how this plays out. Stops above 1,13, target1 at the retest, target2 to be determined. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
Another short on EURUSD? 2618 trade!Hey guys, this is a 1hr chart on EURUSD and as you can see price is still in the yellow box that represents a resistance area. I've already shorted this pair two times in the recent past (one with target1, one at breakeven). And it's now creating another short setup, in the form of a double top broken to the downside, this signifies price wants to go lower and a 618 retracement is a good place to sell, according to the 2618 strategy. The background conditions on the daily are still the same. Bat Pattern completed and structure zone. Let's see how this plays out. Stops above 1,13, target1 at the retest, target2 to be determined. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
EURAUD - False Breakout Head & Shoulders/2618 Retest This was one of the more interesting pairs that we looked at today as it featured a lot. Starting on the higher timeframe it's important to realize that we have failed to break above our previous level of structure resistance. Therefore what seems like an obvious bullish flag formation may not be as appealing as it once seemed. I'm looking at this as a potential false breakout due to the fact that after trying to rally above the highs of our channel, we've returned and passed it's midway mark. Now I've never tested this personally as I'm not much of a breakout trader but trading legend Linda Raschke warns to be aware of this. if this is indeed a false breakout then a rally higher would give us 2618 opportunity competing at the same level as the left shoulder of a head and shoulders pattern. Giving us to reversal patterns at the same level. Seems interesting to me.
Short
by Akil_Stokes
4
AUDUSD: 3rd Strike 2618 Opportunity AUDUSD was the first of 2 2618's shown today. As mentioned, I had previously been a fan of the higher level of structure resistance (red box) and although I couldn't involve myself in the initial test, was able to use an advanced pattern formation to get involved on the retest. We now have the potential for a 3rd strike of that level in the form of a 2618 trade if price action were to rally up to the .7480's level. Overall I'm still neutral on this pair meaning I don't have a firm bullish or bearish bias bigger picture.
Short
by Akil_Stokes