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GBPAUD - Bearish GartleyGBPAUD is in an interesting position, it is almost at its midway of a Bearish Gartley Pattern on the daily chart that completes at 1.7974 and a Bullish Bat Pattern on the 4-hourly chart. Either pattern complete shouldn't invalidate the pattern in this trading setup. It is important if you have the experience and know what you are doing before you plan to extend your target taking by using our upsize trade management. If you aren't familiar with that, taking the conservative target is fine.
Short
by RaynLim
USDJPY-Weekly Market Analysis-May22,Wk3The moment the trendlines have been violated, they can be repurposed as an indication for a shorting opportunity. If you head in for the short, you are taking the counter-trend move or trend reversal move. Do note that trend reversal happens only once or twice out of ten times. Do take a conservative approach if you have that trading plan. There are two-level that traders can take note of, the blue box that indicates the buy zone and the Bullish Shark Pattern completion at 124.28.
Short
by RaynLim
GBPUSD - Bearish SharkYes, this post is about a Bearish Shark setup, but check out the daily chart on the link within tradingview, you will see that the market respects the ABCD Pattern at its HOP level, 1.2186. A counter-trend move on the daily chart. The intraday traders can wait for a pullback within the cyan box that's marked buy zone for a buying opportunity. You can observe how the candlestick interacts with the buy zone. One of the levels you have to observe is the candlestick formation at the Shark Pattern completion price.
Long
by RaynLim
USDJPY-Weekly Market Analysis-May22,Wk2USDJPY has lots of interesting trading opportunity. Start off with the 1st zone of the staircase formation. The Green Zone(1st Zone) you can wait for shorting opportunity at the top of the box and buying opportunity at the bottom of the box. The second chance to engage the trade is when the market retest the trendline but fail to break and close below it. The third chance entry for trend traders would be the Bullish Shark Pattern setup that completes at 124.30. Which setup do you prefer? Comment down below and tell us why.
Long
by RaynLim
Solana(SOL) Crash?Solana is trading at 83.62 at this moment and it might head towards its recent support level at 78.60. Sol has been an important coin for the hottest NFT Project at the moment of posting, STEPN walks to earn the project. If you are like me and thought of buying the coin at its low to buy your NFTs shoes, you might not be happy with what happened in the marketplace. I'm not saying is not possible but your chance is slim when the price of SOL drops, the shoes in the marketplace will increase, it seems that the people who are in the STEPN project are tracking the price and will adjust the selling price as it goes. I've seen that the price of the common shoe is appreciating but uncommon and rare shoe prices drop(based on the lowest price listing). That's good news for grinders. Well, if you thought of buying the coin low and waiting for the coin to appreciate back to its 102-108 range before getting your NFTs shoes, you might be disappointed with what I'd discovered. It may take 4-6weeks for SOL to recover to its former glory, that's how the market works. You might buy 13SOL at 83USD/sol and wait for it to hit back to its 100USD/sol range and hope people are selling their shoes are 11.59-12.24sol. First, that's a lot of ifs and waiting, too many moving parts, I'm not liking it. But if it happens. You might save 100-200USD, but what you are losing out on are the earnings from the activity(the GST earnings when you run). At the point of observation/strategising each GST is at 6.29USD/GST. Every day I could easily earn more than 8GST(level3~4 shoes which you can get by the 3rd day) from 10mins of running, you will be losing out more than you thought you are benefiting from waiting. Let's just take 5USD/GST, 1 month that would be 150GST(without strategy) X 5USD = 750USD and that's when you don't strategies and you don't level your shoes, which is impossible. Just by that, waiting do more harm and just getting right on it.
FTX:SOLUSDLong
by RaynLim
USDJPY-Weekly Market Analysis-May22,Wk1As early as 14Oct2021, I've said that the USD is going to appreciate for the year 2022. That doesn't mean that you can't head in for any counter-trend move, you just have to do it with caution. At 131.57, USDJPY will have an AB=CD completion, it is common for traders to look for a countertrend move at its completion. Conservative traders could wait for a Double Top with RSI Divergence at the level. Trend Traders could wait for the Bullish Shark Pattern at the 4-hourly chart.
Short
by RaynLim