GBPAUD - Head and ShouldersWait a min.. This is the kind of head and shoulders setup I will not engage. Trading classic chart patterns do require the right rules and filters.
If not you will just be burning your capital away.
Askforex100
NZDUSD - Bullish CrabA bullish crab setup with RSI Divergence could be encouraging for counter-trend traders. However, you must be aware there is a potentially Bullish Shark pattern on the daily chart.
Despite that, I will wait for buying opportunity at 0.6104.
AUDCAD - Bullish SharkAs mentioned yesterday in our private channel(check the link at the footer) that today will be an active day for traders.
I've engaged in this counter-trend trading opportunity, the Bullish Shark Pattern. If this setup fails, there is another level of opportunity, as we know that shark patterns can be tricky.
Please do your own analysis and do not follow blindly.
GBPAUD - Bullish 5-0PatternFirst, before the 5-0Pattern is completed, it has to reverse at 1.7063 to show respect for the Bearish Shark Pattern completion.
Would I take the trade?
You bet I will!
I will observe if the market will respect 1.6993; if it pauses and reverses, I know I have my Bullish 5-0 Pattern.
The 5-0 Pattern is vital for my longer-term trading plan.
EURJPY - Type2 Bearish BatEURJPY has a Bearish Bat setup. If you are waiting for a buying opportunity, you might just have the opportunity to long at around 136.87. This is possible because it is a legit support level.
If you are waiting for a shorting opportunity, 137.56 is an excellent level to consider to engage the trade based on a Type2 Bearish Bat Pattern setup.
USDJPY - Resistance LevelIf you read my last week's analysis, you should know that there is a potential Bearish Bat Pattern on the daily chart(the link is within the tradingview article).
If you are looking for a counter-trend trading opportunity, the Bat Pattern might not be the best setup, and that's because I don't like what I'm seeing(consolidation before the Point D completion).
I'm more inclined to wait for a shorting opportunity at around 137.56, which happens to be the 1hourly chart resistance level. First of all the initial risk isn't great; furthermore, it is a more important level of resistance.
GBPUSD - Demand ZoneGBPUSD is on a bearish run; I know counter-trend traders are waiting for the opportunity to engage in the trade.
You have to be patient; wait for a 3-bar reversal before engaging in the trade.
EURUSD - Bearish BatTrend Traders, there are many opportunities for you to hop into the trade. I will be sharing 2 of the most obvious setup, the Bearish Bat Pattern that completes at 1.0155 and the Channel within the potential Bearish Flag formation.
It is important to wait for candlestick confirmation before engaging in the trade.
GBPUSD - Bearish BatA trend trading opportunity for trend traders, a Bearish Bat Pattern present itself. When we see V-bottom setup, it is important to wait for candlestick pattern confirmation. A conservative setup like 3-bar reversal will be good for most traders.
CADJPY - Bearish Deep GartleyCADJPY is on a Bullish Trend on all 3 major timeframes. A Bearish Deep Gartley Pattern may allow counter-trend traders to short the pair at 106.27. Before engaging in the trade, it is important to wait for the 3-bar pattern confirmation.
EURJPY - Bearish ButterflyEURJPY has the most interesting trading combo. Traders can check out its chart, from the 1hourly chart to the Weekly Chart. It shouldn't be too hard for you if you are a trained Harmonic Patterns trader.
The Bearish Butterfly Pattern completes at 141.88, be patient and wait for the 3-bar reversal pattern.
USDJPY-Weekly Market Analysis-Aug22,Wk4It is a joke to read that; "The US Dollar dipped on CPI data"; or "The US Dollar dipped on inflation". If you have been following us, you should know that the Buy Zone(Blue Box) has been there for a long time.
Yes, the dollar is still bullish; some may argue that it is due to Yen's weakness, but you can check other Dollar pairs and compare on its daily chart.
The dollar is far from the bearish move; however, counter-trend traders can wait for a 3-bar reversal at 138.35 at Point D of the Bearish Bat Pattern.
GBPUSD-Weekly Market Analysis-Aug22,Wk4The Daily Chart's Bullish Bat Pattern coincide with the 4-hourly chart AB=CD pattern that completes at the HOP level at 1.1824.
This is a counter-trend trading setup; a minimum of 3-bar reversal is required, especially in times like this.
EURUSD-Weekly Market Analysis-Aug22,Wk4EURUSD is on its bearish run on all 3 major timeframes, the daily, 4-hourly and 1-hourly timeframe. Check out the bearish channel drawn on 10Jul, link at the bottom of the TradingView post; you can observe that when you drew the channel correctly, you can see the market respect the channel by stopping and reversing at the end of the channel. That is when you know you did your analysis right.
If you are trading off the lower timeframe, the 4-hourly chart, you could wait for the market to pause and reverse at 1.0138 for a trend trading shorting opportunity.
Never underestimate the accuracy of structure trading and basic chart pattern; once done right, they are the most powerful trading setup.
GBPJPY - Bullish Deep GartleyWell, I hope the Bullish Deep Gartley will not be a valid pattern because I'm pretty involved in the Potential Head and Shoulders Pattern setup.
The candlestick movement never fails to amaze me. Look at the related ideas in TradingView, and see how the candlestick pattern stops, pauses, and reverses on the dotted line that I had drawn in advance.
As a mature trader, I have to see the possibility of another trading setup. With that said, even if the Deep Gartley Pattern shows up, you will still need to wait for candlestick pattern confirmation before engaging in the trade.
EURJPY - Bullish SharkEURJPY has a potential Bullish Shark Pattern that is completing at 136.48. This may allow traders that have missed the Bullish Bat that coincide with the AB=CD Pattern that complete on the daily chart and has its first target of 441pips attained.
USDJPY-Weekly Market Analysis-Aug22,Wk3USDJPY is far from dipping or crashing, at least not now. However, counter-trend traders can wait for a shorting opportunity at 134.89 on a Bearish Shark Pattern setup.
Traders need to wait for further confirmation before jumping into the trade.
GBPUSD-Weekly Market Analysis-Aug22,Wk3Structure Trader, you might have an opportunity to engage the GBPUSD on a structure based trade and to engage your counter-trend trade on the Key Resistance Level at 1.2179.
EURUSD-Weekly Market Analysis-Aug22,Wk3When it comes to the Daily Chart, EURUSD is still on a Bearish Trend, however, on both the 4-hourly and 1hourly chart, EURUSD is on a Bullish trend.
A Bullish Bat Pattern is completing at 1.0221, which is great for intra-day trader. That said, I will still wait for candlestick pattern confirmation as Point C touches Point A.
GBPJPY - Potential Head and ShouldersAre you amazed how the market paused and reversed at the dotted line I've drawn? Trading isn't hard, you just have to find the right mentor to guide you and achieve the common goal, to profit from the market.
Check out the link at the bottom and witness how the market pause and reverses at the dotted line.
GBPJPY - Head and ShouldersA potential head and shoulders setup that could provide more than just the regular target taking.
I'm waiting patiently for the market to dive another 20pips more, and I will observe how the market interacts on the dotted line.
EURUSD - Bearish Bat checkbackFinally, the EURUSD retest its entry area before hitting its projected target. This Bearish Bat Pattern setup give trend traders an opportunity to engage the trade.
What I love about this setup is that it has an RSI Divergence within the setup.
GBPJPY - Bearish Deep GartleyA Bearish Deep Gartley Pattern is completing at 165.74. It is a level that will attract lots of counter-trend traders to look at.
