GBPJPY - Bearish GartleyA Bearish Gartley Pattern that can only form up on 1230(UTC+3) or 1730(GMT+8) for a sideway consolidation shorting opportunity.
The thing about harmonic patterns, it has specific rules.
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USDJPY - Bearish GartleyA Bearish Gartley pattern forming 110.04 within the consolidation of the previous bearish flag pattern.
I'm waiting for candle confirmation for an entry opportunity. 3bar reversal should do.
GBPUSD - Bearish BatWell, the market might bounce off from the sideway Increase Volatility and the 1st level it stretches to might be the Bearish Bat setup which is a more stable trading setup compared to the 1 I'm in(sideways increase volatility trendline within the buy zone{blue box}).
CADJPY - Bullish SharkIf the 2 bearish candles didn't appear before the market close, the Head and Shoulders formation is an almost perfect setup.
Now we need to have the awareness that the Bullish Shark Pattern may form and that will weaken the Shark Pattern.
At this moment it is still too early to make any decision, it will be critical when the candle break and close below Point B.
2nd Target for the Head and Shoulders is at a Risk-Free setup. In fact, the stop-loss has locked 16pips of profit and that is the Worst Case Scenario for this trade. The Best Case Scenario will bring you a 217pips(approx. 2,170USD/lot) potential.
Now, that's why Patience is Virtue!
EURJPY - Bearish SharkDo you remember the Bearish Shark setup that I've shared on 15 March 2021?
Well, I don't remember the exact date, but tradingview does. That's 1 thing I love about tradingview.
It helps traders to differentiate the real trader apart from those who just do screenshots that are favourable to their desired outcome.
For those who have engaged on the Shark Pattern on the weekly chart, right now it is giving you 338pips(approx. 3,380USD) of running profits, from a 579pips(approx. 5,790UDF) retracement.
Check out the link at the bottom of the tradingview post.
At this moment there are 2 potential scenarios on its daily chart. A bullish bat completing at 126.00 as a trend trading setup or a Bearish Shark Pattern completing at 133.46 as a counter-trend trade.
USDJPY-Weekly Market Analysis-Sep21,Wk2Last week, I've shared with you that USDJPY is going to have a Bullish Shark Pattern set up within the 5-0 Pattern and the price to engage on the countertrend setup is 109.73(you can check the link within the TradingView chart and you can find the chart link at the bottom). The final target for the Shark Pattern brings 53pips of profit which is approximately 530USD/lot traded.
USDJPY has just completed its Bearish Flag Pattern. I'm waiting for a double bottom, which means the market has to retest and touch 109.62 for a double bottom buying opportunity. This will put the trade setup to be a counter-trend trade and an RSI Divergence will be my minimum criteria to engage the trade and the first target will be at 109.88.
GBPUSD-Weekly Market Analysis-Sep21,Wk2Two weeks ago, we spoke about the Bullish Bat setup for a buying opportunity, at this moment the setup has brought a total of 238pip, which is equivalent to 2,380USD/lot traded. If you like to catch on the bull run, a retest on the trendline(blue) can create an opportunity for you to engage the trade. The immediate previous high can be your Target1.
Counter-Trend Traders can wait for the Bearish Deep Crab Pattern confirmation at 1.3910. Usually, for Deep Crab Pattern, I will wait for consolidation and retest before engaging the trade.
EURUSD-Weekly Market Analysis-Sep21,Wk2Two Harmonic Patterns Converge at 1.1892. I'm waiting for a retest at that level for a shorting opportunity on the Bearish Shark and Bearish Crab Pattern.
Both Shark Pattern and Crab Pattern is a counter-trend setup and it is more likely for this pattern to consolidate, retest and retest before the actual move.
Once the market retest the Bearish Channel, it will be a great idea to shift stop-loss to entry.
CADJPY - Head and ShouldersA confirmed Head and Shoulders formation on the 4-hourly chart with an RSI Divergence gives an opportunity for trend reversal traders to engage in a counter-trend trade.
The 1-hourly chart trendline has greatly improved our entry price by 63pips and I've engaged the trade at 87.13 when the candle touches the trendline and has a 3-bar reversal with a bullish engulfing candle.
Zoom - Bullish BatI must say, I'm a forex trader, not a stocks trader so do your own research. From the technical analysis standpoint Zoom has hit $290 after the company reported more than $1 billion in quarterly revenue Monday, topping analyst expectations. But the company’s third-quarter earnings guidance failed to impress Wall Street.
Shares of Zoom (ticker: ZM) were down more than11% in premarket trading Tuesday.
This could give traders who wanted to buy zoom but finding it too expensive to involve in the market an opportunity to engage.
A bullish bat pattern, alt bat or fib 3 bat you may call it, is a good setup for a potential buying opportunity, but do remember harmonic pattern like this has a high win-rate if used right but that doesn't mean a 100% win rate.
Overall, I'm positive on this stock to go long.
CADJPY - Bearish BatA Harmonic Pattern that is fit the criteria of a counter-trend trading setup on the CADJPY has been established.
This is not your usual Bat Pattern but a Fib3 Bat or some called it the Alt Bat which works fine with me.
I'm waiting for the candlestick confirmation to decide should I be shorting the Bearish Bat Pattern on every hour candlestick close.
GBPAUD - Bullish Gartley @ XBullish Gartley Pattern form at X is 1 of the pattern that I will watch closely. I'm waiting for a counter-trend trade on this Gartley Pattern setup.
Trade has already engaged but stops is placed below the bearish flag completion with buffer.(you can check out the link at the bottom to access the training on my secret formula in placing stop-loss)
EURJPY - Bearish SharkShark Pattern, this is what shark pattern really is. If you got stung out on the same shark pattern and once it has grown into the next entry price, the textbook case suggest that you should still engage the trade should the candlestick confirmation come by.
Compare to its peers, USDJPY, this is the more well-liked set-up as it was a trend trading setup, unlike the USDJPY, counter-trend setup.
I will have to wait for the candle to close at 9 pm (+8GMT) which is 16:00(UTC +3). If a pin bar, or long shadow I will be looking for a shorting opportunity.
GBPJPY - Bullish Butterfly ExtensionWe have a Head and Shoulders Pattern and it's completion come into the Bearish Shark completion. Well, it gives a 1:1 Reward:Risk but we are looking at 140pips of risk.
WOW!! Not for me man!
So instead of buying at 1unit, I'm going to wait for the butterfly pattern setup, a bullish butterfly completing at 151.05 for a counter-trend trading opportunity off the 15minutes chart but a trend trading on the 4-hourly.
For this setup, I would rather miss the trade than to put myself in a 140pips risk.
USDJPY - Bullish SharkA bullish shark pattern form within the 5-0 Pattern has just strengthened the buying opportunity for traders who are already looking to go long.
I'm waiting for a candle confirmation on this ranging market and will treat this as a counter-trend trade.
USDJPY - Bearish SharkA bearish shark pattern is about to happen on USDJPY as well. Sometimes these happen to the Yen pairs, 1 after another and it is really your trading rules to decide if you cherry-pick them or you engage them anyway.
What's the difference between these 2 Shark Pattern setup is that this is a counter-trend setup.
Traders who have the in-born mindset of how high can it go or buy low and sell high would prefer the USDJPY Shark Pattern setup.
Which is your favourite?
Let me know in the comment segment below.
USDJPY - 5-0 PatternConsolidation in the 5-0 Pattern is what traders who shorted the Shark Pattern don't want to see. A break and close below the blue box will ease the mind of many. However, Profession traders will look closely at that level and decide should they liquidate their 2nd Target and go long.
You don't need to stare at the screen, just set an alert and let technology alert you and decide when the candlestick close.
GBPAUD - Bearish FlagSometimes it could be hard for a trader to differentiate whether the market is going to have a Double Bottom setup with RSI Divergence of a Bearish Flag formation. It all voice down to your filter and experience in the market. If you are uncertain of any trading setup, then leave the trade alone until you have further confirmation.
While a small group of traders are aware of my thoughts on this bearish flag setup, I regretted not posting this trade, but if you believe me, then that doesn't matter.
At this moment I'm waiting for a double bottom set up at 1.8790, which is also the level that coincides with the retest of the broken trendline on the 4-hourly chart for a buying opportunity. And to your comfort, it is still within the buy zone of the 4-hourly chart and the daily chart as a trend trading setup, although from the recent market movement, the bearish move is much stronger than the bullish candle and that is why you need to have a strong filter that you have manual backtest for at least 100 times per timeframe, per currency pair.
EURJPY - Bearish Shark check-backLike many traders, I have high hopes for this trading setup. I even see this as a trade that will hit its First Target(TP1) even before its counterpart, USDJPY. But I was wrong about that, you can check the link at the bottom.
Don't get upset over this, because a check-back is pretty normal for a Shark Pattern and it's probably because this is on a 4-hourly chart and the USDJPY is on a 1-hourly chart. So it might not be because of the trend trading vs the counter-trend trading setup.
However, once the market touches 129.26(indicated with a blue arrow), I'm going to shift stops to entry and that it because it is a potential level that the market my stop and reverse against me. That's why checking back on the trade with unbias market sentiment is crucial to 1 success in trading. Well, if one fails to remain unbiased in his/her trade, then when the trade is engaged, just leave it alone.
USDJPY-Weekly Market Analysis-Sep21,Wk1On Thursday 26Aug21, I've shared a Bearish Shark setup on the USDJPY. I've also launched a poll in my telegram group you can access via my tradingview post at the bottom of this post. Many if not all the people who participated have voted the EURJPY over the USDJPY setup. Both of them are Shark Pattern and both of them are bearish setups too. The only difference is that the EURJPY setup is a Trend Trading setup and the USDJPY is a Counter-Trend setup.
To be honest, I have the same view too, but lucky for me, I didn't cherry-pick. I engage both of them and USDJPY is 10pips shy away from its first target (TP1), while EURJPY has its retest at the entry price.
We can have our preference but when the setup form, we shouldn't have our confirmation bias.
The link to both Bearish Shark analyses is at the link at the bottom.
At this moment the concern I have is this potential inverted Ascending Triangle which may sabotage my Shark Pattern trading setup. I've set my alert on the ascending trendline and the alert will trigger only when can candle touches the trendline and alert me when the candle close. This is how trading should be and not aimlessly staring at the chart.
If the candle respected the trendline and reverse at that point, I may exit my Final Target early and may reverse my trade(going long). This solely depends on how the candlestick closes and interact with the trendline.
There is other Harmonic Patterns on the 4-hourly chart but to keep it clean I've removed them. If you are interested to check what setup is there, you can check out the link at the bottom.
GBPUSD-Weekly Market Analysis-Sep21,Wk1It's sad to miss 130pips worth of profits which translate to $1,300USD/lot trade on the Bullish Bat Pattern I've shared on last Monday, which some of you have received that information even the day before the market open.
Well, I don't want you to jump into all the trade ideas I've shared but rather to read them, analyse them and make your own judgement call. There is an emerging bearish crab pattern on the GBPUSD 4-hourly chart as we are speaking.
On the 1hourly chart, the flag pattern doesn't hold as nicely as its distant relative, EURUSD. I've included its chart within the tradingview link of this post to save you time in searching for it.
From the flag pattern, GBPUSD has transformed into a nightmare of many proficient traders, the sideway increase volatility. And because they have experience in the market, most of them is going to let this set-up slide, because 9/10 times the market isn't going to respect the trendline, sometimes it went beyond it sometimes it doesn't even touch it and its reverses.
From this you can imagine how frustrating it can be.
Not for me. I will observe how the market move and should this be the 1 time that it works, it can bring a fantastic Reward:Risk.
EURUSD-Weekly Market Analysis-Sep21,Wk1Last week I've shared with you the potential of EURUSD to have a bullish movement once it breaks and closes above 1.1704. I hope you have managed to capture it. If you have missed it you can wait for the reversal candle to form between 1.1764-1.1732.
AUDCAD - Bullish FlagA Bullish Flag may just form up on the AUDCAD 1-hourly chart. The 15minutes chart may provide a possibility of a 61.8% retracement after the double bottom has formed. Although with the current candlestick formation, it is unlikely for a retracement to happen, if it does it will give me a better fill.
The current entry gives you a 1.4:1 Reward:Risk, if a retracement happens, it will easily give you a 2:1.
Well, for me I engage half of my position, so when the market run without waiting for me, I still can earn some and when it retraces I can wait for candle confirmation to engage the second half.
