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Askforex100

A mistake that most traders might makeOn the right is the daily chart, and on the left is the 4-hourly chart. It is a common mistake for traders that have been trading for 3-5 years and believe that the higher timeframe always supersedes the lower timeframe. Similar to corporate hierarchy, our superior is not always correct. There are a couple of factors that determine that. One of it depends on the overall market bias on the currency. My Bias on the US Dollar pairs remains bullish; hence, I'm not motivated to short USDJPY aggressively when the market has a Bearish Bat Pattern formation. I would require to see a further market confirmation, like a Double Top form at completion, giving me an RSI Divergence before shorting the trade. On the other hand, I'm waiting to long the USDJPY at 135.00 on the 4-hourly chart, which happens to be the Key Support Level.
Long
by RaynLim
2
I told you so...This is 1 crazy trade that we did on 22 Feb 23 (links within the TradingView Post). If you have been following us for years, you would agree that my interest in sharing LIVE analysis than to show how much I had earned in a trade. That is because I do not find how that could benefit you. With that said, the purpose of my sharing my analysis as it is; is to show you the thought process of how traders react at every turn. Currently, we are 40pips away from our target of 0.6688(+219pips), which gives us a profit factor of 8.11. That means for every $1 we risk, my potential profit is $8.11. That means even with a 20% accuracy rate by setting every loss at -50pips, my net profits in pips is 411pips. This significantly reduces the level of stress when we trade and give us more time to do the things we love to do. In an unlikely scenario that the market retests back to 0.6786 would allow traders to consider if they would hop on the latest trade with their first target points to the recent low on the 1-hourly chart. In this example, that would be 0.6721, giving the First Target a 65pips profit potential. I would recommend having good risk management and planning your own trade, and not following the trade blindly.
Short
by RaynLim
We could have an opportunity to earn BIGIf you have been reading my analysis, you would know that I have my eyes on NZDJPY and waiting to long it to the completion of the Head and Shoulders formation that completes at 86.23. Previously, I was waiting for the completion of the Bullish Bat Pattern, which I knew chances were slim(links within the TradingView post). Now, another opportunity presents itself. The better way is the wait for a retest on the 1-hourly chart at 83.65 and wait for a Double Bottom with an RSI Divergence before engaging the buy; should the market go above the red line and close above 84.26, I would wait for a retest and recent support to long NZDJPY.
Long
by RaynLim
6
1 Trading Ideas might workThe Bearish Shark Pattern with a HUGE cross might not complete this round; instead of the Shark Patterns, it could form a Bearish Gartley Pattern. Personally, I will have my focus on the Bullish Shark Pattern that is completing at 1.188. I've a Bearish Biasness on the GBPUSD based on the higher timeframe, which means the buying trend would be a means to an end. If the Bullish Shark Pattern does form up, I will be waiting for the Bearish 5-0 Patterns. I know there is a lot of this going, I will be updating my analysis along the way. Feel free to prompt and remind me in the comment segment if I've not done so.
Long
by RaynLim
A buying and shorting opportunityA buying opportunity and shorting opportunity present on the EURUSD trade, which would you take? On the higher timeframe(right), there is a buying opportunity base on the Bullish Shark Pattern that is completing at 1.0519. Although the trade is within the Buy Zone(blue box), a retest at 1.0519 with an RSI Divergence is preferred. On the 4-hourly chart, the Bearish Flag Pattern is on the move. The way I'll trade it is to wait for a retest at 1.0666 with an RSI Divergence. Both setups are trend trading; which trade would interest you?
Long
by RaynLim
2