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NZDJPY Trend Reversal OpportunityOn the 1-hourly chart, it looks like a regular shorting opportunity with Key Resistance Level retested at the almost perfect, but potential BOJ Intervention zone, so for traders of all kind to ''try their luck!!'' However, on the Grand Scale of things, and it is a Type2 Bearish Shark Pattern on the Daily Chart. After I'd include the buffer, I the market hit Price Action Level at 94.00, hence, I'd to push my SL 10pips away, but making it 94.10. Let see how the market moves before the New York Session ''opens''
Short
by RaynLim
USDJPY Analysis: Caution on Strong Bullish RallyUSDJPY is on a strong bullish rally, mainly due to the weakening of the Japanese yen. If you decide to chase the bull, beware of getting caught in the act. That's because the Japanese Yen has reached the BOJ intervention zone. I think the real worry comes in when the market strikes the 161.93 to 163.26 range, and the intervention would be imminent. Without any intervention for the next 1 to 2 weeks, I will call the Bluff on BOJ. Stay away from this pair if you are not a Forex Trading veteran.
Long
by RaynLim
GBPUSD Analysis: Trend Trading Opportunity- Trade Strategy: Trend Trading - Sideway Bounce Setup - Key Levels: Key Support at 1.2461, Target at 1.2502 - Profit Potential: 41 pips (410 USD/lot) Analysis: - Trade Strategy: Trend Trading - Sideway Bounce Setup - Key Levels: Key Support at 1.2461, Target at 1.2502 - Profit Potential: 41 pips (410 USD/lot) Trade Plan: - Long Opportunity: Consider going long at 1.2461 for a trend trading opportunity - Take Profit: Set initial target at 1.2502 for a profit potential of 41 pips - Risk Management: Implement effective risk management techniques to manage potential losses Insights: GBPUSD presents a trend trading opportunity with a Sideway Bounce setup, offering a buying opportunity at the Key Support level of 1.2461. Traders can aim for an initial target at 1.2502, providing a profit potential of 41 pips. It's essential to closely monitor price action and adhere to risk management principles for successful trading outcomes. Share your insights and trade plan below! 📈 Capitalize on the trend trading opportunity presented by GBPUSD, leveraging the Sideway Bounce setup for potential profits within the current market conditions!
Long
by RaynLim
EURUSD Analysis: Short-term Buying OpportunityTrade Strategy: Short-term Buying Opportunity - Key Levels: Buying Opportunity at 1.0679, Take Profit at 1.0722 - Profit Potential: 43 pips (430 USD/lot) Immediate Trade Plan: - Trade Strategy: Short-term Buying Opportunity - Key Levels: Buying Opportunity at 1.0679, Take Profit at 1.0722 - Profit Potential: 43 pips (430 USD/lot) Future Trade Plan: - Buying Opportunity: Consider buying at 1.0679 for a short-term trade - Take Profit: Set initial target at 1.0722 for a profit potential of 43 pips - Shorting Opportunity: Look for shorting opportunity at 1.0740 - Risk Management: Implement effective risk management techniques to manage potential losses Insights: The short-term trade for EURUSD presents a buying opportunity at 1.0679, with an initial target set at 1.0722, offering a profit potential of 43 pips. Traders should remain vigilant and monitor price action closely for any changes in market conditions. Share your trade plan and insights below! 📈 Seize the short-term buying opportunity presented by EURUSD, with potential for profitable trades within the current market conditions!
Long
by RaynLim
USDCAD Analysis: Shorting Opportunity with Head and Shoulders Se- Trade Strategy: Head and Shoulders Trading - Key Levels: Retest of Right Shoulder at 1.3778 - Profit Potential: Initial target of 50 pips, with potential for further downside Analysis: - Trade Strategy: Shorting Opportunity with Head and Shoulders Setup - Key Levels: Looking for a retest of the right shoulder at 1.3778 or neckline - Profit Potential: Initial target of 50 pips, with potential for greater downside movement Trade Plan: - Shorting Opportunity: Consider shorting upon retest of the right shoulder at 1.3778 or neckline - Profit Target: Initial target set at 50 pips, with potential for further downside movement - Risk Management: Implement effective risk management techniques to mitigate potential losses Insights: The USDCAD presents a compelling shorting opportunity with the formation of a Head and Shoulders pattern on the 4-hourly chart. While the initial target offers a modest profit potential of 50 pips, the broader setup indicates the potential for further downside movement. Exercise caution and closely monitor price action for confirmation of the trading setup. 📉 Seize the shorting opportunity presented by the USDCAD's Head and Shoulders pattern, with potential for significant downside movement beyond the initial target!
Short
by RaynLim
1
GBPJPY Analysis: Sideways Bounce Trading Opportunity- Trade Strategy: Support and Resistance Trading - Key Levels: Resistance at 192.75, Support at 190.37 - Profit Potential: 238 pips (~2,380 USD/lot) Analysis: - Trade Strategy: Sideways Bounce Trading - Key Levels: Identified resistance at 192.75 and support at 190.37 - Profit Potential: Significant profit potential of 238 pips (~2,380 USD/lot) between support and resistance levels Trade Plan: - Selling Opportunity: Consider shorting near resistance level at 192.75 - Buying Opportunity: Look for buying entries near support level at 190.37 - Profit Potential: Utilize the range between support and resistance for profit-taking opportunities Insights: The GBPJPY presents a lucrative sideways bounce trading opportunity for support and resistance traders. With well-defined levels at resistance (192.75) and support (190.37), traders can capitalize on potential price movements within this range. Exercise caution and implement effective risk management strategies. 📈📉 Seize the opportunity presented by the GBPJPY's sideways movement, leveraging support and resistance levels for profitable trading outcomes!
by RaynLim
2
USDJPY Analysis: Bullish Bias Despite Market Volatility- Market Sentiment: Bullish Bias - Weekly Chart Analysis: Violation of Recent Resistance Indicates Strength - Trade Plan: Buying Opportunities Favored over Shorting Analysis: - Market Sentiment: Maintains Bullish Bias on US Dollar, despite market volatility - Weekly Chart Analysis: Notable violation of recent resistance level on the USDJPY Weekly chart - Implications: Market speculation regarding potential BOJ intervention in FX Market - Trade Plan: Prefers buying opportunities over shorting due to pair's independent behavior Trade Plan: - Buying Opportunities: Look for buying opportunities at support levels (e.g., 154.27, 154.12, 153.89) - Support and Resistance Trading: Shorting opportunity at 154.70 on the 1-hourly chart, although not actively pursued Insights: Maintaining a bullish bias on USDJPY despite market volatility, with a focus on buying opportunities over shorting. Preference for buying entries at support levels, while remaining cautious of resistance levels for potential shorting opportunities. Exercise caution and adaptability in response to the pair's independent behavior. 📈📉 Remain vigilant and adaptable in navigating the USDJPY market, prioritizing risk management and flexibility in trade execution!
Long
by RaynLim
GBPUSD Analysis: Trend Continuation TradingTrade Strategy: Trend Continuation - Key Level (1-hourly chart): Retest at 1.2419 - Additional Setup (4-hourly chart): Bullish Shark Pattern at 1.2141 Analysis: - Approach: Identifies potential opportunities for trend continuation trading - Key Level: Looks for a retest at 1.2419 on the 1-hourly chart as an entry point - Additional Setup: Considers stretching the target to 1.2141, the completion of a Bullish Shark Pattern on the 4-hourly chart Trade Plan: - Entry Point (1-hourly chart): Consider entering a short position on a retest at 1.2419 - Upsize Trade Management: Utilize Upsize Trade Management to extend the target to 1.2141 - Risk Management: Implement effective risk management techniques to safeguard trades Insights: GBPUSD exhibits potential for trend continuation trading, with a retest at 1.2419 offering an entry point on the 1-hourly chart. Additionally, consideration of stretching the target to 1.2141 aligns with the completion of a Bullish Shark Pattern on the 4-hourly chart. Employ prudent risk management practices to navigate market volatility. 📉📈 Exercise caution and prioritize risk management when trading GBPUSD based on trend continuation setups!
Short
by RaynLim
EURUSD Analysis: Support & Resistance TradingKey Levels (1-hourly chart): - Resistance: 1.0669 - Support: 1.0630 Additional Setup (4-hourly chart): Bullish Deep Crab & ABCD Patterns at 1.0522 Analysis: - Approach: Identifies potential shorting and buying opportunities based on support & resistance levels - Key Levels: Highlights resistance at 1.0669 and support at 1.0630 on the 1-hourly chart - Alternative Setup: Considers a more favorable buying opportunity at the convergence of Bullish Deep Crab & ABCD patterns at 1.0522 on the 4-hourly chart Trade Plan: - Shorting Opportunity (1-hourly chart): Consider shorting at 1.0669 or buying at 1.0630 - Preferred Buying Opportunity (4-hourly chart): Look for a convergence of Bullish Deep Crab & ABCD patterns at 1.0522 - Risk Management: Implement effective risk management techniques to protect trades Insights: EURUSD presents trading opportunities at key support and resistance levels on the 1-hourly chart. Additionally, a more compelling buying opportunity may arise at the convergence of Bullish Deep Crab & ABCD patterns on the 4-hourly chart. Ensure prudent risk management practices are in place to manage potential market volatility. 📉📈 Exercise caution and prioritize risk management when trading EURUSD based on support & resistance levels!
Long
by RaynLim
AUDUSD Analysis: Bullish Shark Pattern- Trade Strategy: Bullish Shark Pattern - Key Level: 0.6454 (Retest Level) - Challenge: Strong Bearish Movement Analysis: - Importance: Highlights the difficulty of trading a Bullish Shark Pattern amid strong bearish pressure - Technical Analysis: Identifies a Bullish Shark Pattern on the AUDUSD chart - Challenge: Requires a 3-bar reversal and candlestick confirmation for a viable buying opportunity Trade Plan: - Entry: Consider a conservative entry at the retest level of 0.6454 - Confirmation: Wait for a 3-bar reversal and candlestick pattern confirmation before entering - Risk Management: Implement effective risk management techniques to protect against potential losses Insights: Trading the Bullish Shark Pattern on AUDUSD requires caution due to the strong bearish movement. Conservative traders should wait for confirmation signals before entering the market, prioritizing risk management to mitigate potential losses. 📈🦈 Exercise patience and diligence when trading the Bullish Shark Pattern on AUDUSD!
Long
by RaynLim
NZDJPY Analysis: Bullish Combo Trade SetupTrade Strategy: Combo Trade (Bullish Deep Gartley + Bullish Shark) Key Levels: - Bullish Deep Gartley Pattern: 4-hourly chart - Bullish Shark Pattern: 1-hourly chart - Trading Zone: Coincides with Bullish Shark completion Analysis: - Importance: Utilizes a combo trade strategy for enhanced risk management and profit potential - Technical Analysis: Identifies a Bullish Deep Gartley Pattern on the 4-hourly chart and a Bullish Shark Pattern on the 1-hourly chart - Trade Management: Enables a reduction in stop loss and potential expansion of profit targets Trade Plan: - Entry: Consider entering at the confluence of the Bullish Deep Gartley completion and the Bullish Shark completion within the trading zone - Risk Management: Utilize effective risk management techniques to reduce stop loss and protect profits - Profit Taking: Extend profit targets based on the combo trade setup and trading zone alignment Insights: The Bullish Combo Trade Setup combines two harmonic patterns, providing an opportunity for enhanced risk management and profit potential. Traders can capitalize on the confluence of patterns to optimize their trading strategy. 📈🦈 Keep an eye on NZDJPY for potential bullish movements based on the Bullish Combo Trade Setup!
Long
by RaynLim
USDJPY Analysis: Bullish Flag Pattern PotentialTrade Strategy: Bullish Flag Pattern Key Levels: - Shorting Opportunity: 153.26 - Buying Opportunity: 152.84 Analysis: - Importance: Identifies a potential Bullish Flag Pattern setup - Technical Analysis: Signals a possible continuation of the bullish trend - Fundamental Analysis: Supports the bullish bias for USDJPY Trade Plan: - Shorting Opportunity: Consider shorting at 153.26 with candlestick pattern confirmation and RSI Divergence - Buying Opportunity: Look for buy entries near 152.84, targeting beyond the resistance line at 153.26 Insights: The USDJPY chart shows signs of a Bullish Flag Pattern formation, indicating a potential bullish continuation. Traders can watch for opportunities to short or buy based on the identified key levels. 📈📉 Keep an eye on USDJPY for trading opportunities based on the Bullish Flag Pattern setup!
Long
by RaynLim
GBPUSD Analysis: Support and Resistance Trade SetupTrade Strategy: Support and Resistance Key Levels: - Support at 1.2435 (1-hourly chart) - Resistance at 1.2534 (1-hourly chart) Analysis: - Importance: Utilizes support and resistance levels for trading opportunities Trade Plan: - Buying Opportunity: Look for buy entries near support at 1.2435 - Shorting Opportunity: Consider shorting near resistance at 1.2534 Insights: GBPUSD presents support and resistance trading opportunities on the 1-hourly chart. Traders can consider buying near support and shorting near resistance levels for potential profits. 📈📉 Stay alert for trading opportunities based on support and resistance levels in GBPUSD!
Long
by RaynLim
EURUSD Analysis: Shorting Opportunities Await- Trade Bias: Bearish - Key Factors: Interest rate differentials favor USD over EUR - Trade Plan: Looking for shorting opportunities Analysis: - Importance: Emphasizes interest rate expectations influencing currency movements Trade Plan: - Shorting Opportunity: Waiting for shorting setups - Potential Entry: Bullish Deep Crab Pattern completion at 1.0520 Insights: EURUSD remains bearish due to interest rate expectations. Shorting opportunities are favored until there's a clear indication of ECB's stance on interest rates. 📉 Keep an eye out for shorting setups and remain cautious in trading EURUSD!
Short
by RaynLim
Bitcoin Analysis: Waiting for Confirmation- Trade Strategy: Bearish Deep Gartley - Timeframe: 4-hourly chart Analysis: - Importance: Emphasizes the need for confirmation before entering a trade Trade Plan: - Entry Condition: Wait for candlestick confirmation - Confirmation Sign: Look for a Magic Candle indicating a qualifying trading setup - Engagement: Engage the trade only upon confirmation Insights: Trading requires plotting and planning a setup, followed by confirmation before entry. This cautious approach is favored by seasoned traders. 📉 Remember to exercise patience and diligence in waiting for confirmation before executing trades!
BITSTAMP:BTCUSDShort
by RaynLim
AUDUSD Analysis: Support and Resistance Trade- Trade Strategy: Support and Resistance - Key Levels: Resistance at 0.6624, Support at 0.6482 - Profit Potential: 142 pips Analysis: - Importance: Emphasizes the need to accurately assess profit potential Trade Plan: - Long Opportunity: Look for buy entries near Support (0.6482) - Short Opportunity: Consider shorting near Resistance (0.6624) - Risk Management: Implement effective risk management techniques Share Your Thoughts: How do you plan to utilize the support and resistance levels in AUDUSD? Share your insights below! 📈 Remember to trade responsibly and prioritize risk management in your strategy!
by RaynLim
USDJPY Analysis: Bearish Fib-3 Bat Retest Analysis: - Trading Setup: Bearish Fib-3 Bat Retest - Entry Zone: Identified at Bearish Bat Retest or Key Resistance Zone - Signal Confirmation: Supported by RSI Divergence - Trading Expectation: Expect potential stop-outs on lower time frames Trade Plan: - Short Opportunity: Aggressive traders may consider shorting USDJPY at the identified retest zone - Risk Management: Plan trades in advance and adhere to rules that invalidate the setup Your Thoughts? Are you considering a short position on USDJPY? Share your insights and trade plans in the comments below! 📉 Remember to trade responsibly and manage your risks effectively! Trading involves inherent risks and requires careful analysis.
Short
by RaynLim
GBPUSD Analysis: Support and Resistance Strategy- Trade Strategy: Support and Resistance - Support Level: 1.2595 - Resistance Level: 1.2656 - Potential Profit: 61 pips Analysis: - Support Level: Identified at 1.2595 - Resistance Level: Seen at 1.2656 - Strategy: Utilizing support and resistance levels for trading opportunities Trade Plan: - Buy Opportunity: Upon bounce off the support level at 1.2595 - Sell Opportunity: Near the resistance level at 1.2656 - Potential Profit: Targeting 61 pips based on support and resistance strategy Your Thoughts? What are your thoughts on utilizing support and resistance levels for trading? Share your insights and trade plans in the comments below! 👍 Like if you agree that support and resistance strategy can be profitable! Remember to conduct your own analysis and trade responsibly. Trading involves risks.
Long
by RaynLim
EURUSD Analysis: Buying Opportunity Identified- Trade Bias: Bullish - Entry Point: Retest of support at 1.0809 - Target: First target set at 1.0869 - Risk Management: Shift stops to entry at first target level Analysis: - Support Level: Identified at 1.0809 - First Target: Set at 1.0869 - Risk Management: Stop-loss to be shifted to entry point upon reaching first target Trade Plan: - Entry upon retest of support at 1.0809 - First target at 1.0869, with stops shifted to entry point - Utilize proactive risk management to safeguard profits Your Thoughts? What are your thoughts on this buying opportunity for EURUSD? Share your insights and trade plans in the comments below! 👍 Like if you found this analysis helpful! Remember to conduct your own analysis and trade responsibly. Trading involves risks.
Long
by RaynLim
1
USDJPY Analysis: Shorting Opportunity Ahead- Timeframe: Weekly chart shows RSI Divergence - Trade Bias: Shorting opportunities favored Analysis: - Weekly Chart: RSI Divergence signals potential reversal - 4-Hourly Chart: Waiting for retest of previous resistance at 151.74 for short entry - Combo Trade Strategy: Stretching targets for lower risk and higher returns Combo Trade Strategy Explained: - Definition: Trade management system to extend targets for enhanced risk-reward ratio - Benefits: Lower risk exposure, higher potential returns Trade Plan: - Shorting opportunities identified on USDJPY - Entry upon retest of 151.74 resistance level on 4-hourly chart - Utilize combo trade strategy for optimized risk management and profitability Additional Insights: - Trading strategy not limited to shorting USDJPY; open to opportunities aligning with trading strategy - Flexibility in trading approach across multiple currency pairs Final Thoughts: - Market dynamics are not constrained by directional movements of specific currency pairs - Focus on trading opportunities presented by price action and technical indicators - Adaptability and versatility are key to successful trading in dynamic market conditions 💡 Your Thoughts? What are your views on the potential shorting opportunity on USDJPY? Share your insights and trading strategies in the comments below! 👍 Like if you appreciate this analysis! Remember, always conduct your own analysis and manage risk responsibly. Trading involves risks.
Short
by RaynLim
GBPUSD Update: Potential Bearish Flag Trading Setup IdentifiedTrade Setup: - Entry: Sell at retest of trendline - Target: Extended towards Bullish Butterfly Pattern completion zone - Trade Management: Utilizing upsize trade strategy Analysis: While many analysts see consolidation, I've identified a potential Bearish Flag trading setup on GBPUSD. The series of lower highs on the 4-hourly chart indicates a possible continuation of the bearish trend. I'm waiting for a retest on the trendline to execute a short position on GBPUSD. Using my trade management system, I plan to implement an upsize trade strategy to extend the target towards the completion zone of the Bullish Butterfly Pattern. Trade Management: - Upsize Trades: Leveraging trade management system for increased position size. - Entry: Selling at the retest of the trendline. - Targets: Extending targets towards the completion zone of the Bullish Butterfly Pattern. Risk Management: - Prioritize risk management to safeguard capital. - Adjust position sizes according to risk tolerance and trading strategy. Your Thoughts? Do you also see potential for a Bearish Flag setup on GBPUSD? Share your insights and trading strategies in the comments below! 👍 Like if you found this update helpful! Remember to conduct your own analysis before making any trading decisions. Trading involves risk.
Short
by RaynLim