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Askforex100

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USDJPY-Weekly Market Analysis-Aug22,Wk2 With no mistake, USDJPY is on a Bullish Trend, but that doesn't mean we can't look for a counter-trend trading opportunity. We have a Bearish Crab Pattern completing at 135.58 on the 1hourly chart. On the 4-hourly chart, there is a potential Bearish Bat Pattern that has the potential of completing at 136.59. Knowing that this is a counter-trend setup, a candlestick confirmation is required against a strong bullish trend.

Short

GBPUSD-Weekly Market Analysis-Aug22,Wk2 A retest of 1.2026 on the 1hourly chart, not only it would give us a retest or to some a double bottom with an RSI Divergence, if you look at the bigger timeframe, the daily chart, you would see a potential Head and Shoulders Pattern that give an opportunity to long on this counter-trend trading setup.

Long

EURUSD-Weekly Market Analysis-Aug22,Wk2 A Bullish Butterfly form at 1.0045 could be an opportunity for counter-trend traders to wait for a counter-trend trading opportunity that completes at that price. However confident you are in the trading setup, it is important to wait for candlestick confirmation before engaging in the trade.

Long

AUDUSD - Head and Shoulders A potential Head and Shoulders formation may form on the AUDUSD 1-hourly chart. What are you waiting for? Well, I'm waiting for the candlestick close to decide if it is for me.

Long

CADJPY - Bullish Bat checkback A Bullish Bat Pattern has formed on the CADJPY 4-hourly chart. I'm waiting for the market to check-back at 103.85 before engaging the trade. Aggressive trader could decide for yourself if this setup is for you.

Long

EURJPY - Bearish Gartley A Bearish Gartley Pattern completing at 137.00 within the sell zone on the EURJPY 1hourly chart. In this intra-day timeframe, it may offer more profit opportunities than you think it could. Be patient, and once you have the candlestick pattern confirmation, like the 3-bar pattern, you decide if this trade is for you.

Short

USDJPY-Weekly Market Analysis-Aug22,Wk1 Last week during the Live Streaming session in TradingView, I mentioned that USDJPY might not appreciate it even if the Fed proceed with the rate hike. However, if you are looking for a trend trading opportunity, a retest at 132.55 could give you an opportunity to jump into a buying opportunity.

Long

GBPUSD-Weekly Market Analysis-Aug22,Wk1 A counter-trend setup on GBPUSD, a Bullish Shark Pattern that is completing at 1.2015. As Shark Patterns can be tricky, a candlestick pattern confirmation is important.

Long

EURUSD-Weekly Market Analysis-Aug22,Wk1 In this week's Weekly Market Analysis, we are looking at EURUSD intra-day timeframe. There is a Deep Bearish Gartley Pattern that is complete at X at 1.0246. Candlestick Pattern confirmation is a requirement before engage the trade.

Short

EURJPY - Bullish Shark A Bullish Shark Pattern has checkback and retest. It seems like a busy Monday for Japanese Yen traders.

Long

EURJPY - Bullish Shark Shark Pattern is the most tricky Harmonic Patterns, I will have to wait for candlestick close at 1pm(GMT +8) to decide if this is the trade for me.

Long

NZDUSD - Resistance Level On the daily chart, the NZDUSD has hit its Key Resistance Level; it does have an opportunity for trend traders to jump onto the trade. On the 4-hourly chart, Point C of the potential Bullish Shark Pattern has a 3-bar reversal formation compared to Point A, and there's an RSI Divergence too. Point C candle didn't break and close above Point A; the above observation allows me to head in for a structural short.

Short

NZDJPY - Bullish Bat The Bullish Bat setup could allow counter-trend traders to engage in the trade. Before you get all excited on the Bat Pattern on the 1-hourly timeframe and potential sideway bounce setup on the 4-hourly timeframe(related ideas within tradingview post). The Bearish Crab Pattern that was completed at the HOP level is a valid setup and it had hit its first target and moved beyond its first target. There is a certain level of risk to engage this trade.

Long

USDJPY-Weekly Market Analysis-Jul22,Wk5 A Bullish Bat Pattern has been completed; once the market opens, the aggressive trader can consider engaging the trade to long the market on the trend trading setup. Conservative traders could wait for the price to reach 135.82 before engaging in the trade.

Long

GBPUSD-Weekly Market Analysis-Jul22,Wk5 As a structure-based trader, I will wait for the market retest at 1.2040 with an RSI Divergence and the candlestick pattern to touch 1.2050, but a close below 1.2040 would be a perfect opportunity for me to engage the trade. If the market breaks and closes above 1.2050, I will patiently wait for Bearish Shark set up to engage the trade.(link of that analysis is in the related ideas under tradingview)

Short

GBPUSD - Bearish Shark Harmonic Patterns in a trend trading setup are possible. The Bearish Shark Pattern became a perfect setup for traders who want to get into the trend trading setup, but do note that it is possible that the structure trader could get involved in the trade. Check the related ideas at the bottom.

Short

EURUSD-Weekly Market Analysis-Jul22,Wk5 This Bearish Shark setup might concern traders who trade Bullish Flag Pattern. I will observe how the market reacts at 1.0264 for a shorting opportunity, the RSI Divergence does gave me additional confirmation to short the EURUSD.

Short

GBPAUD - Bullish Bat A Bullish Bat setup is here for sideway, counter-trend, and harmonic pattern traders. Two things to note, the market has not retraced to 1.7366 to validate the setup and Point C touches Point A candle body, which always bothers me. Despite of that, what I like about this setup is its profit factor and the RSI Divergence.

Long

AUDUSD - Bearish Butterfly A Bearish Butterfly rested in the key resistance zone is usually a perfect setup for me, however, there are some imperfection on this setup. A break and close above the previous Bearish Trendline. This is true, but at least it didn't break and close above previous structure, fingercross. The next thing I'm not comfortable is that the 4-hourly chart has an emerging Bearish Shark Pattern resting at point B, a break and close above point B would put this Butterfly Pattern in an disadvantage. Be in the now is important, it is a valid setup, I'd engaged it but I will watch closely and review it 3bars from now, which is 2-3hours time. What am I looking out for? - to see if the PRZ has been violated - to see if the market retest the bearish trendline and fail to break and close below the trendline - to look at candlestick formation

Short

CADJPY - Bearish Bat CADJPY has a potential Bearish Bat Pattern that completes at 106.77. A candlestick pattern confirmation is important, and that's because there's a Potential Bearish Butterfly Pattern on the Daily Chart. There's no need to be over concern about that; as long as you are following the trading rules, it will be fine.

Short

NZDJPY - Bearish Deep Crab The Bearish Deep Crab Pattern completes at 86.05 which is within the structure retest on the daily chart, a perfect setup for counter-trend traders to head in for a shorting opportunity.

Short

USDJPY-Weekly Market Analysis-Jul22,Wk4 USDJPY is on a strong Bullish Trend. However, counter-trend traders can wait for a retest at 139.11 to engage a shorting opportunity based on the Bearish Crab Pattern retest at the HOP level. A retest at the HOP level also means I'll be getting a RSI Divergence.

Short

GBPUSD-Weekly Market Analysis-Jul22,Wk4 GBPUSD is on a very bearish trend. Trend traders who are looking to ride on the wave can wait for a candlestick pattern confirmation at 1.1943 to head in with the Bearish Bat Pattern setup.

Short

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