USDJPY Trading Plan: Fib-3 Bat Pattern Retest and Bullish ButterIn our current analysis of USDJPY, two distinct trading opportunities emerge:
1. Fib-3 Bat Pattern Retest:
- Timeframe: Weekly Chart
- Setup: The Fib-3 Bat Pattern type2 on the weekly chart has already provided a profitable opportunity, and a retest is anticipated.
This pattern has previously yielded a substantial 903 pips in 13 weeks.
2. Bullish Butterfly Pattern:
- Timeframe: 1-Hourly Chart
- Setup: A Bullish Butterfly Pattern on the 1-hourly chart, with an entry point identified at 148.78.
These setups reflect a mix of longer-term and shorter-term trading strategies. Share your thoughts and engage in discussions to enhance our collective understanding.
Askforex100
GBPUSD Trading Plan: Bearish Deep Gartley PatternLet's discuss the trading plan for GBPUSD, and it revolves around the recognition of a Bearish Deep Gartley Pattern.
This pattern, once confirmed, provides an optimal setup for a shorting opportunity. Here's the breakdown:
1. Trading Setup: Bearish Deep Gartley Pattern.
2. Price Reversal Zone (PRZ): Awaiting confirmation at 1.2725.
Once the PRZ is confirmed, signaling the completion of the Bearish Deep Gartley Pattern, it opens up a potential shorting opportunity.
Feel free to share your thoughts and engage in a discussion on this trade plan.
EURUSD Trading Plan: Bearish Shark Pattern on 4-Hourly ChartLet's delve into the EURUSD trading plan for the upcoming period.
The weekly chart suggests a weaker bull trading setup, signalling a bullish trend with some weakening.
However, the four-hour chart paints a different picture, displaying a bearish trend.
Here's the comprehensive trading plan:
1. Weekly Chart: Indicates a weaker bull trend.
2. 4-Hour Chart: A Bearish Shark Pattern is anticipated to complete within the sell zone at 1.0874, presenting a potential shorting opportunity.
Given the bearish trend identified on the four-hour chart, the focus will be on the Bearish Shark Pattern for a potential short trade.
Share your thoughts and insights on this trade plan!
Type2 Bearish Gartley Pattern on 15 Minutes ChartAn intriguing trade opportunity has been identified on the 15-minute chart involving a type2 Bearish Gartley Pattern. While it may not appear significant on the shorter timeframe, looking at the Daily Chart provides a different perspective. Utilizing the Combo Trade Management System and targeting the first level of support can yield attractive returns.
What are your thoughts on this trade?
Long Trade Opportunity on Bullish Gartley PatternFor those who are bullish on GBP and bearish on AUD, the suggested pair for trading and going long is GBPAUD.
The trader is looking to long GBPAUD on a Bullish Gartley Pattern that is expected to complete at 1.9261.
Emphasizing the importance of having a personal trade plan and trading accordingly.
What's your trade plan for GBPAUD?
A Successful Long Trade on Bullish Butterfly PatternThose who went long on the NZDJPY Bullish Butterfly Pattern might have profited more than 100 pips (~1,000 USD/lot).
The trader suggests waiting for a Type 2 Butterfly Pattern at 89.35 or a retest of support at 89.73 for a counter-trend buying opportunity.
What's your trade plan for NZDJPY?
Awaiting Confirmation for Shorting Opportunity Traders,Despite a strong bullish candle, the presence of a Bearish Shark Pattern retest on USDJPY is intriguing.
However, the trader advocates waiting for further confirmation to engage in a shorting opportunity on USDJPY, treating it as a retracement trade.
What's your take on the potential trade for USDJPY?
Counter-Trend Long OpportunityIn the prevailing bearish trend on EURUSD, if you're on the lookout for a buying opportunity, consider a counter-trend trade to go long at 1.0779.
Of course, patience is key, and waiting for additional trading setups might be necessary.
Share your thoughts on this potential trade!
Combo Trade OpportunityAn amazing Bearish Fib-3 Bat with RSI Divergence has surfaced on the CADJPY 1-hourly chart.
While some may see this as a great counter-trend trading opportunity, others might interpret it as a warning sign and choose not to engage.
But here's the twist - it's a Combo Trade.
On the Weekly Chart, there's a Bearish Shark Pattern Retest, accompanied by a Type2 Bearish Gartley Pattern.
What's your take on CADJPY?
Share your trade plan for CADJPY in the comments below!
Advanced Trendline Trading TechniquesCheck out these advanced trendline trading techniques for NZDJPY.
If you're seeking a counter-trend trading opportunity, watch out for a Magic Candle Confirmation (MCC) on the Bearish Trendline.
This will signal an entry point for a short trade.
Once the pair touches the next trendline, consider shifting your stop to entry and decide whether it's a satisfactory point to exit the trade.
What's your trade plan for NZDJPY? Share your thoughts!
Combo Trade Strategy for Potential Head and ShouldersThe USDJPY's Weekly chart is showing signs of a potential Head and Shoulders formation.
While engaging directly on the weekly chart might be considered risky, what if we use a Combo Trade Management strategy?
There's a Bearish Shark Pattern on the Daily chart, and we might witness a formation of a
Bearish Deep Gartley Pattern on the 1-hourly chart, providing a counter-trend trading opportunity.
Which of these trading opportunities do you prefer? Share your thoughts!
Buying Opportunity Along Bullish TrendlineGBPUSD is currently experiencing a sideways movement. If you are seeking a buying opportunity, pay attention to the bullish trendline on the 4-hourly chart.
Ensure that the candlestick does not violate the trendline before considering a buying opportunity.
What are your thoughts on this potential buying setup for GBPUSD?
Sideways Movement with Trade OpportunitiesEURUSD is exhibiting a sideways movement on the weekly chart.
Here are two potential trade opportunities:
1. Buying Opportunity:
- Wait for a retest of support at 1.0847 for a potential buying opportunity.
2. Shorting Opportunity:
- Look for a shorting opportunity on the Bearish Shark Pattern at 1.0893.
What's your preferred trade plan for EURUSD?
Confluence of Bearish PatternsCADJPY is displaying a confluence of bearish patterns:
1. Weekly Bearish Shark Pattern:
- Retest in progress.
2. Daily Type2 Bearish Gartley Pattern:
- Completion aligns with the Bearish Shark on the weekly.
The trader plans to wait for a confirming candle on the daily chart near the level of 110.37.
Share your insights and trade plans for CADJPY!
The Duality of PatternsEURJPY presents an interesting scenario with a potential combo trade, or is it? Let's break it down:
1. 4-Hourly Bearish ABCD Pattern:
- Retest completion at 161.74.
2. Daily Bearish Bat Pattern:
- Completion at 162.55.
Two patterns, two different starting points. Is it a combo or a dual setup?
Share your thoughts and let's navigate this intriguing trade opportunity together!
Potential Head and Shoulders & Early Trading OpportunitiesUSDJPY is showing promise with a potential Head and Shoulders pattern on the Weekly Chart. Here's the game plan:
1. Awaiting Bearish Shark Pattern Confirmation on Daily Chart:
- Patient approach for a comprehensive setup.
2. Early Trading Opportunities on 15-Minutes Chart:
- Spotted Bearish Bat and Bearish Gartley Patterns.
- Potential for quicker engagements on shorter timeframes.
Stay vigilant and let's discuss your insights on this evolving USDJPY scenario!
Combo Trade: Patience for ConfirmationGBPUSD is setting up for a potential combo trade. Keep an eye on:
Bearish Shark Pattern:
Timeframes: 15 mins and 1-hourly
Completion: 1.2708
What makes this interesting is that both Shark Patterns have different starting points.
Exercise patience and wait for candlestick confirmation. Share your insights and trade plans on GBPUSD!
Waiting for ConfirmationIf you're seeking shorting opportunities on EURUSD, I've got two potential setups for you.
Remember, always wait for candlestick pattern confirmation before making your move.
Bearish Shark Pattern: Look out for completion at 1.0917.
Bearish Bat Pattern: This setup is more intriguing to me, as the Potential Reversal Zone (PRZ) aligns with the bearish trendline.
Be patient and let the market confirm the patterns. Share your thoughts and trade plans on EURUSD below!
Levels to WatchIn the world of trading, never underestimate the power of key support and resistance levels.
These levels often become the battleground for market movements, forming a Sideway Bounce Trading setup.
On my radar for AUDCAD:
- Buying Opportunity: Watch for potential long entries at 0.8931.
- Shorting Opportunity: Keep an eye on the chance to go short at 0.8982.
This trade strategy remains active as long as the support and resistance levels hold.
Share your insights and trade plans on AUDCAD below!
A Pivot Point for TradesAn essential level on my radar is 0.6669 for AUDUSD.
If the market presents a buying opportunity at this level, I'll be keenly interested.
However, a break and close below this level would shift my focus to a shorting opportunity, waiting for a retest on the resistance level.
Share your trade plans and thoughts on AUDUSD below!
Multi-Pattern Analysis - A Comprehensive ViewMonths ago, I shared insights into the impending Bearish Fib-3 Bat Pattern on the weekly chart, offering substantial profit potential (over 10,000 USD/lot). Check the detailed analysis within the TradingView post.
Presently, my attention is drawn to a potential Head and Shoulders formation, indicating a shorting opportunity of more than 1,000 pips on the weekly chart.
However, for those seeking a buying opportunity, observe the Bullish Shark Pattern completing at 143.71.
My stance: Bearish in the short-term, Bullish for the long-term.
Share your thoughts and trade plans below!
Exploring OpportunitiesGiven the current consolidation phase in the market, I'm open to exploring various trading opportunities this week.
For counter-trend traders eyeing a shorting opportunity, the completion of a Bearish Bat Pattern at 1.2803 is a crucial level to watch.
Alternatively, for those in search of a buying opportunity, a retest on the trendline, conveniently aligned with the 1-hourly chart, could provide an entry point.
What's your strategy for GBPUSD? Share your insights!