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EURJPY - Bearish Deep Crab HOP LevelA Bearish Deep Crab pattern has touched the D-Point completion at 132.45. Counter Trend traders can consider engaging in the trade. Conservative traders can wait for 1) Further consolidation and make sure it didn't break and close above 132.77 for a shorting opportunity. 2) Wait for consolidation to happen at 133.60 for a shorting opportunity as a second chance entry for a shorting opportunity. That level coincides with the daily chart bearish bat pattern.
Short
by RaynLim
EURAUD - Exchange RateIf you are looking to change AUD to EUR or you prefer a lower EUR against Australia, today is a better day to do it. My friend's client was looking to do this exchange. At this moment the exchange rate of EURAUD is at 1.5731. This means you only need 1.5731AUD to exchange for 1 EUR rather than 1.6376AUD to exchange for 1 AUD. It is a saving of 3.93%. This may not look like a lot to most of us. But a transaction of 1million AUD, the saving will be 39,386AUD and all you need to do is to wait, in this case, 53days. You don't even need to perform any hedging.
Long
by RaynLim
2
GBPAUD - Another Bullish SharkHowever, this is my prefered bullish shark to engage and there are 2 reasons for that. 1. At this moment, the bearish movement is still strong, it seems like it can go a bit lower before any reversal happens 2. The Shark Pattern that forms at this level coincide with the completion of the Bullish Bat, or better known as Fib3 Bat or Alt Bat Pattern at the 4-hourly chart. 3. The current Shark Pattern is the last level of possibility for a buying opportunity. Shark Pattern can be a tricky and crafty one so if you are not familiar with it or do not have a coach who are well-versed with it, stay out of this pattern.
Long
by RaynLim
AUDCAD - Bearish CrabA bearish crab pattern may emerge and complete at 0.9240 for a shorting opportunity. On the other hand, traders who are looking at the 4-hourly chart might have a different view. A bullish bat pattern. This is why it is very important to follow your trade plan and stay out of the trade if you aren't certain. I'll be checking the candle formation on Monday morning for a 3-bar reversal for a buying opportunity within the Bullish Parallel Channel and I will observe how the market will react at Point D of the Crab Pattern.
Long
by RaynLim
1
EURJPY - Bearish FlagEURJPY has a Bearish Flag setup, even if this play out, this could be a weak setup as it doesn't land on the previous support level. Nevertheless, it is a great shorting opportunity for trend traders and if you remember that's partly because of the Bearish Shark Pattern setup that I had shared on 15 March 2021 based on the Weekly chart. If you are still in this trade at least a 290pips run which in fact if you traded it well it should be a 489pips run. This depend on your knowledge on the Shark Pattern.
Short
by RaynLim