LONDON: GU - ABCD/EXT Limit Buy w/ATR SLABCD/EXT playbook setup detected for a contrarian buy against the oversold pound. Let’s see if the market can snap back enough to collect 2-4R
AB=CD
CAG Bullish ABCD & Double Bottom Long We can see that an ABCD is about to complete at 32.5$. I am inputting an order to buy there with a 60 cent stop loss, at 31.9$
EURUSD Three Drives to a Top and ABCD in Daily SELLI had input an order at 1.121 to sell with a stop 60 points higher (1.127) because:
- We can see that a Three Drives pattern is about to complete at 1.1210 at the 1.272 extension (in blue).
- There is a clear ABCD from the last swing low (in red).
- Adittionally, there is another major ABCD formation (in green).
All of them converge to the same price level
GBPUSD - Alternative Ways To Enter A Trade - BE CREATIVEThe other day I shared a video of a bearish CTS trading opportunity using Fibonacci, Structure & the AB=CD pattern. In that opportunity I was looking for a double top to use as an entry & as of now it doesn't look like that's going to happen.
However, if you have the understanding & more importantly the skill of how to read a price chart, it can allow you to become creative and unlock alternative ways to enter a trading opportunity & that's what I wanted to walk you through today.
If you have any questions of comments about the setup, please let me know in the comment section below.
Also don't forget to HIT THAT LIKE BUTTON to show your support.
Akil
A Negative Month at these Levels Could Signal NVDA Down to $196We are at a point where NVDA is trading at a Macro Monthly Bearish ABCD PCZ and all the Oscillators are sitting in overbought zones. If NVDA sees a negative monthly candle at these levels, it is very likely that these Oscillators will begin to come down again and signal Potential Bearish Action ahead; if we get such a signal at these levels, then I would typically aim for it to go back down to the level of C of the ABCD as a Minimum Target; but given how high this is and how profitable even a 61.8% retrace would be, I will opt to target the 61.8% retrace instead down at $196.32 as it nicely fits into my typical 3:1 risk to reward requirement.
SOLANA - Key area with 34 upside targetBINANCE:SOLUSDT is in an interesting area where it could go either way. Upside target on the bigger pattern that has been running all year is around 34 (Fibonacci number).
There is a CIT window on Friday 21st April so if we get a retracement back to 22-23 area that will set up the move higher.
There is also the possibility of a deeper correction back down to 15 but above 27 and this scenario is off the table.
This week will be the key. Enjoy the week. Watching for set ups.
Overall Bullish, But I'm Countertrending This Trade💹 GBPUSD is currently experiencing an overall bullish trend, as evident from the Weekly Chart (right) showing bullish movement within the Buy Zone.
⛔️ However, as a Counter-Trend Trader, I'm eyeing a potential shorting opportunity on GBPUSD based on the setup on the daily chart.
🔍 My trading approach will shift to bullish once it hits the key support level or the bullish trendline.
📊 Stay tuned for more trading insights and updates!
EURJPY AB=CD BEARISH EURJPY has formed an AB=Cd bearish pattern on its hourly chart and the price is trading below the short entry level EL: 157.552.
ST: 158.046.
targets:
38% AD: 156.488
62% AD: 155.557
79% AD: 154.891
100% AD: 154.049
Dollar Index (DXY): Oversold Market & Time For Pullback 💵
After the CPI report this week, Dollar Index dropped rapidly.
Ahead, I see a confluence zone based on a completion point of a harmonic abcd pattern
and a horizontal historical key level.
From the underlined blue area, I will expect a bullish movement at least to 100.58 level.
❤️Please, support my work with like, thank you!❤️
GBPUSD: Time For Correction 🇬🇧🇺🇸
I guess you saw how bullish GBPUSD is.
The pair is unstoppable for more than 2 weeks.
However, analyzing the price action,
I spotted 2 harmonic bearish abcd patterns:
the bigger one and the smaller one.
Their completion points almost much and compose a potential reversal zone.
From that, I will expect a correctional movement.
Goals will be 1.3 / 1.29
❤️Please, support my work with like, thank you!❤️
EURUSD Bearish Harmonic ABCDThe EURUSD has completed a Bearish Harmonic ABCD pattern and will start a retracement towards the levels highlighted on the right in beginning of next week.
NZDUSD Double Top and ABCD to the 1.27 extension SHORTWe can clearly see a resistance area at the 1.27 extension of the ABCD (at 0.6377) in the Daily.
I am using that price to input a sell order there with a stop at 0.6415, risking 38 points.
GBPUSD at W1 OverBalance level- price at top limit of the overbalance level previously respected on Apr 16th 2018, May 24 2021.
- previous time there was double top in W1
- if respected price may fall even to the parity
HON Bearish Gartley in a 0.618 FibThe market is very close to forming an ABCD at 207.92$ in the Daily.
If we see the retracement from the previous high, we can see it is pretty much at the 0.618.
I am inputting and order there and I'm going to use a 1.5$ stop loss at 209.42.
WBD ABCD in Daily ShortThere is an ABCD forming at 13.7$ in the Daily.
I am shorting there with a stop 20 cents above (13.9).
EURUSD: Detailed Video Analysis After CPI
Price action & key levels analysis.
Potential correctional movement explained.
Trading recommendations and scenarios.
❤️Please, support this video with like and comment!❤️
USDCHF: Time For Pullback 🇺🇸🇨🇭
USDCHF reached the year's low.
The support that it composes matches perfectly with a completion point
of a harmonic abcd pattern.
As an extra bullish confirmation, I spotted a double bottom
on 1H time frame with a confirmed neckline breakout.
I expect a bullish move to: 0.8855 / 0.887
❤️Please, support my work with like, thank you!❤️
EURJPY ABCD in Daily SHORTWe are very close to reaching point D at 159. I expect some sellers to come in as we approach there. I'm inputting an order to sell at 159 with a stop 60 points higher, at 159.6.
NZDJPY ABCD 1.27 EXTENSION SHORT in 4HSelling at 90.8 with the stop at 91.5 (70 pts).
It is the price at which the 1.618 extension (RED) and 1.27 (BLUE) from the same spot meet.
The red leg formed a Trading Range (TR), and later on the Blue leg attempted a Breakout (BO) from the previous TR which failed, forming a Double Bottom (DB) in the TR.
The failed BO trapped all the bulls that expected higher prices, but as the DB was respected and the price surpassed the top made at the BO (point X), I am thinking that more buying is about to come, and if we see 90.70 we should be selling into it as the marked has proven that big moves to the upside retrace deep.
USDJPY macro AB=CDAs per my new trade i idea i think UJ looks bullish in coming month i think we can see the price range of 155-161. NFA AB=CD in play
🛢️ USOIL: Bearish Breakdown Ahead! 🐻📉Get ready for an exciting bearish setup on USOIL (Crude Oil) that could potentially yield attractive profits.
In the 1-hour timeframe, a compelling AB-CD pattern has emerged, signaling a strong trend reversal opportunity. The pattern's completion at 72.00 provides an optimal entry point for those looking to capitalize on a potential downside move.
Adding to the bearish case, we've reached a critical supply zone where the 0.786 Fibonacci retracement level resides. Historically, this level has acted as a significant resistance, reinforcing the potential for a downward move.
The RSI indicator indicates that the market is highly overbought in this area, hinting at a potential increase in selling pressure. This alignment of technical factors enhances the bearish scenario.
In terms of candlestick patterns, last Friday night witnessed the formation of an inside bar break down. This bearish candlestick pattern strengthens the case for a potential decline in price.
Considering all these elements, a strategic selling opportunity presents itself at the market opening. However, it's important to monitor for any potential price gaps above the supply zone, which could alter the trade setup.
To maximize potential profits and manage risk effectively, we have identified several take profit levels along the way: 70.00, 68.50, and 66.70. These levels provide attractive exit points for traders to lock in gains.
With a well-rounded analysis of technical indicators, candlestick patterns, and supply zone considerations, this bearish setup on USOIL offers an enticing opportunity to take advantage of potential market downturns. Happy trading!📉✨
Feel free to share your toughts in the comments section. And don't forget to press the like button if you think this insight was helpful 🚀🌟
