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DOLLAR CRASH!? NOPE! NOT NOW!!If you are on the Media, you would have heard that the DOLLAR is CRASHING, countries are ANTI-US DOLLAR, etc, etc... I don't see any crashes happening on the chart. It is important for independent traders like ourselves, not to get swayed by the news headline; see it for yourself. What I'm seeing right now, saddens me more than the crashes; the market is going into the consolidation phase. How do I know that? A series of Bat Patterns, that's it. The market reflects on what market participants felt. If you are looking for shorting opportunity, you are in luck. On Daily Chart(left), Bearish Bat Patterns completing at 136.96 and on the 1-hourly Chart, we have the Bearish Crab Pattern completing at 132.54 and Bearish Bat Pattern completing at 132.87.
Short
by RaynLim
EURO-DOLLAR, Counter-Trend Opp.EURO-DOLLAR has a Counter-Trend Trading Opportunity(left). Traders looking for a counter-trend trading opportunity could wait for the market to retest to 1.0975 for a shorting opportunity. This is possible not because of the Bearish Shark Pattern Trading Opportunity, but a retest of resistance on the Weekly Chart. If this is not for you, then perhaps the Bullish Bat(red)(right) or the Bullish Shark(right) gives you, a trend trader, an opportunity to engage. So, what is what? If you have that question, focus on 1 and not engage on both.
Short
by RaynLim
Unique Combo Trade!Probably a trade that has a 20:1 Reward: Risk trading setup. On the 1-hourly chart, we have a Bullish Gartley Pattern that comes inline with our 4-hourly chart, the Bullish Shark Pattern retest and on the Weekly Chart, the Bullish 5-0 Patterns. If I stretch the final target to the Weekly Chart completion, the returns would be stunning, but this trade could take up to 2 months or a month. Furthermore, we might have more stop-out then hitting the target in 1 U-Turn, so it is NOT a trade for traders who won't afford to have their trade stop out multiple times and still looking for buying opportunities. If you are thinking of risking more than you usually do; or you plan to follow the trade blindly; or even worst, not putting your stop-loss, this is not the trade for you. As a full-time trader, I've been very patient to look for the trade that suits my profile and the trade I'm planning. I couldn't stress any more by saying trading is more like a business than a job. It is not the number of deals you do, but the 1 you chose to take and the 1 you chose not to participate.
Long
by RaynLim
It's NOT Perfect, but would you say NO to 309pips of Profits? It's NOT Perfect, but would you say NO to 309pips of Profit Potential? The Bearish 5-0 Patterns has completed on the Daily Chart(right), the doji candle looks great for aggressive trader for a shorting opportunity, the RSI didn't went overbought, and that cause this setup to be not as perfect as we want it to be. Alternative ways to engage the trade, is to wait for the market to retest at 83.60 on the 4-hourly chart or the 1-hourly chart. When the retest happens, it will produce an RSI Divergence that allow us to engage the trade, that produce a Lower Risk with a Higher Returns. If you are looking for a buying opportunity, 82.60 is the level you can wait for a retest of support or a double bottom with RSi Divergence. Which side of the trade would you choose? Shorting opportunity or Longing opportunity?
Short
by RaynLim
368pips x2 profit potentialIt depends if you are looking for a buying or selling opportunity on the EURJPY. Traders who are looking for shorting opportunities could wait for a Bearish Shark Pattern retest at 145.31. If you are looking for a buying opportunity, the Bullish Gartley Pattern on the Trendline that completes at around 141.63for a buying. If you have no issues trading both ends, you wait for the confirmation to happen before engaging the trade that will bring 368pips of potential profits trading on both sides.
by RaynLim
459pips or 89pips of profit, which will you choose? If you have to choose only one trading setup, it is understable you would be choose the 459pips setup. But as a thinking trader, we have to be aware of what kind of trading setup provides such trading opportunity. The 459pips is from a counter-trend trading opportunity on the daily chart(right). I'm looking to short at 1.2395 and exit at 1.1937, for that to happen a restest at 1.2395 is required. On the flip side, Trend Traders could wait for a buying opportunity off the Bullish Bat Pattern on the 1-hourly chart(left), the entry price is at 1.2308, candlestick Pattern confirmation is required. Which side would you choose? The Bear 🐻 or The Bull 🐮?
Short
by RaynLim
At Least 200pips of Profit PotentialThe Bullish Shark Pattern(right) has not reached its final target level. Trend Traders could wait for a buying opportunity off the 4-hourly chart(left), support level at 1.0748. Should the Candlestick Pattern break and close below it, I'll be waiting for Bullish Bat Patterns that completes at 1.0562. And because the Point C of the Bullish Bat Pattern touches Point A, it became a warning sign, I'll need to wait for a Candlestick Pattern confirmation at the PRZ(box) before engaging on the trade.
Long
by RaynLim
Biggest Profit Potential of the WeekThe Bearish Shark Pattern has been completed on the Daily Chart (right), but it will be crazy to trade off the Shark Pattern on the Daily Chart. A better way is to engage it off the 1-hourly chart(left) using the Bearish Crab Pattern at HOP at retest with an RSI Divergence. Hooooooo! It's a mouthful, but that's what I need to engage the trade. Even if it sounds like a perfect heist, there's a chance that we get multiple stop-out before hitting our first profit, but that's the trade I'm willing to take. This GBPAUD trade almost synchronises with my GBPJPY trade, links at the bottom of this TradingView post. The only thing is that the trade is traded in an opposite direction, which creates a perfect hedge on the UK Pound. As much as my brain loves to think 1 of them will hit stop-loss, not only does it create a perfect hedge, but I do see trades like these worked out. That is why I'll trade once the market confirms my entry, regardless of what other traders might think.
Short
by RaynLim
6
Earning both waysTo be successful in trading, you can be a Casanova. This means you need not be loyal to your trade. You can buy GBPUSD during breakfast and sell it by lunch. That will be my trade plan for this week. GBPUSD on the 1-hourly chart(left). I'm waiting to buy on the blue line(1.2202) and short on the right line(1.2277). On the blue line, I'm waiting for the retest that will almost guarantee an RSI Divergence, and on the red line, it coincides with the 4-hourly chart(right) of a potential Head and Shoulders formation.
by RaynLim
A definite move on BitcoinOften not, traders love to say that the market goes Up or Down. That's the movement of the market but what will definitely happen on market is that it will go through the expansion and contraction phases and when the market goes into contraction, the expansion will be next. As a trader, I will be waiting for a break and close BEYOND the trendline, but as a Bitcoin collector, now could be a time you can consider buying some in case the market moves against your wish. However, in a 51% scenario, BTC is most likely to have its first break towards the downside, but I won't bet on this. It depends on your capital and your mindset. Are you okay with missing this and waiting for the next setup(that's me), or do you want to buy some due to FOMO(I used to be that way). So when I'm caught in such a dilemma, I will buy one-third of whatever I'd set aside for this and the remaining two-third for future purchases. What will you be doing?
BITSTAMP:BTCUSD
by RaynLim
3
A 711pips of profits that could be yoursA 711pips of profits could be yours if you join our Weekly Wednesday LIVE Streaming Session on TradingView. Should you ask me my view on EURJPY and choose to engage the Bullish Deep Gartley Pattern at 138.17? What happens next could be of better use to you, a Potential Bearish Flag Pattern trading setup. There are 2 ways I would engage it. The first way is to wait for a break and close below the current trendline, and I'll wait for a retest before engaging the trade. Another way would require the market to rebound and pause on the higher trendline. That is when I will wait for a candlestick pattern confirmation before engaging the trade.
Short
by RaynLim
1
A 213pips of Profits PotentialOn the right is the Bullish Shark Pattern that has been identified since the week before(related idea is within this TradingView post). On the left is one of my favourite trading setup, the Sideway Bounce trading opportunity. Trading from end to end gives 213pips(2,130usd/lot) of profits potential. The market has to touch 1.0745 to complete the Sideway Bounce trading setup, but a retest to 1.0532 would be good enough to engage it as a combo trade and ride on the Bullish Shark Pattern on the higher timeframe as a combo trade.
Long
by RaynLim