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This is the kind of Trading Setup that I go Aggressive!The Bullish Shark Pattern is yet to be confirmed, but it went lower than PRZ, which is seen as a warning sign for most. However, I see it as an opportunity that I don't want to miss out on. Here are some key points that I wanted to highlight: - The Terminal Bar produced a long shadow that provided Cover Support, which means that the level is not broken. - On the 1-hourly chart, we can see RSI divergence. - There's a sideway bounce setup on the 4-hourly chart, which can be attributed to a combo trade. As you know, I'm a nurtured conservative trader, but once I see an opportunity like this, I turn into an aggressive trader. So, I'm quite excited about this. What's your take on this?
Long
by RaynLim
A Promising Trading StrategyThe star trade of the week. I'm currently waiting for a shorting opportunity on the bearish shark pattern off the weekly chart. Trading off the weekly chart directly would send my initial risk through the roof. While we could always reduce our trading size when trading off the higher timeframe, it doesn't make sense to me. I'll be waiting for a bearish 5-0 pattern to complete at 110.56. My initial stop-loss is at 110.96, which is approximate -40pips or -400USD/lot. My first target is at 109.96, which is approximately 1,000USD/lot. However, there's also a bullish shark pattern that has completed at 109.96, so there's no reason why you can't engage on that as well. Remember, it's important to plan your trade and trade your plan. Never follow any trader blindly.
Short
by RaynLim
Beware of Shorting OpportunitiesAs we continue to analyze the market, it's become clear that avoiding bad trades is just as important as finding the next big one. This is particularly true when looking at the bottom 2 charts of NZDJPY's daily and weekly charts. On the daily chart, we can see that the Bearish Deep Gartley Pattern is over-extended, meaning it took longer than expected to complete the trading setup. As a result, the market may not respect the level and could bash through the resistance level. On the weekly chart, we also see that the Bearish Shark Pattern retest, doesn't give us an RSI divergence. Once again, the market may extend further before any significant retest. Despite all of this, if you're still interested in shorting the market, do it with caution. On the 4-hourly chart, waiting for the market to retest at the 90.03 level could attract price-action traders to jump in for the counter-trend move. Personally, I prefer to head in for a buying opportunity at the key support level of 89.05. My initial stop-loss would be at 88.67 (-38 pips) or approximately -380USD/lot. The first target is seen at 90.08 (+103pips) or approximately 1,030USD/lot. Remember, it's important to plan your own trade and never follow any trader blindly. Let's continue to monitor the market closely and make informed decisions.
Long
by RaynLim
Retesting Previous High, Potential Shorting OpportunityWe've identified a potential opportunity for counter-trend traders in the form of a Bearish Fib-3 Bat Pattern completion on the Weekly Chart. This could be a great chance for traders to engage in the trade and make a profit. However, we understand that the initial stop may be too large for some traders to handle. That's why we suggest waiting for the setup to form on the lower time-frame, such as the 1-hourly chart, for a shorting opportunity. You could wait for a retest at 149.44 for a shorting opportunity. The initial Stop-Loss at 149.74 (-30pips) or approx. -300usd/lot. Target1 could be at 148.76 (+68pips) or approx. +680usd/lot. But keep in mind that it's always important to plan your trade and not follow any trader blindly. We encourage you to have a solid plan in place before making any trades.
Short
by RaynLim
Awaiting Shorting OpportunityThis week, I have been closely monitoring the movement on GBPUSD. While there are similarities to EURUSD, I am still waiting for an aggressive shorting opportunity. As of now, there is no iconic trading setup available, so I am patiently waiting for a retest at the key resistance level of 1.2368 before making any moves. For more conservative traders, it may be wise to wait for a double top with an RSI divergence as an additional confirmation before engaging in the trade. The initial stop is at 1.2462 (-94 pips) or 940 USD/lot, while the first target is seen at 1.2124 or 2,440 USD/lot. I cannot stress enough the importance of planning your trade and not blindly following anyone else. Keep this in mind when considering your options.
Short
by RaynLim
Potential Bullish ContinuationAs we analyze the charts, we can see that the highest timeframe is affecting our overall analysis. If we look at the weekly chart, we can see that there is a bullish run. This means that we should look for a buying opportunity on the 1-hourly chart. Our preferred entry price is at 1.0550, with an initial stop-loss at 1.0521 (-29pips) or -290usd/lot. Our target 1 is at 1.0614 (+64pips) or 640usd/lot. However, if we see that the daily chart is our highest timeframe, we should look for a shorting opportunity as a trend trading opportunity. The possible selling price is at 1.0631, with the initial stop-loss at 1.0663 (-32pips) or -320usd/lot. Our Target 1 is at 1.0502 (+129pips) or 1,290usd/lot. It's important that we do our own independent analysis and plan our own trade. By doing this, we can take advantage of the opportunities presented to us and make the best decisions for our trade.
Long
by RaynLim
Short NASDAQ once more!I wanted to share my thoughts on the latest shorting opportunity I've spotted on Nasdaq. It appears to be a Bearish Shark Pattern, with some unique differences from the previous ones we've seen. Firstly, there is an additional entry price for the very same Bearish Shark Pattern. This makes it even more appealing to consider shorting. Secondly, the completion of this pattern is happening on the 1hourly chart, which means the movement could be more volatile. In light of this, I have set my initial stop-loss to a further level at 14927.90 as I am aiming for a bigger target. I would love to hear your thoughts on this development. Do you think this is a good opportunity for us to short Nasdaq once more? Please feel free to share your thoughts in the comments section. Follow my only account @raynlim
UShort
by RaynLim
7
A Great Trading OpportunityAs per my analysis, a Fib-3 Bat Pattern is about to complete at 1.8979 on the Daily Chart. To minimize the initial risk, I will wait for a buying opportunity on the H4 or H1 chart. This will significantly reduce the stop-loss to 1.8733 (-246pips) or close to -2,460usd/lot, while the first target will be at 1.9363 (+384pips) or close to 3,840usd/lot. I believe that a good trader follows a good mentor, but a great trader plans his own trade and takes reference from others' analysis. Therefore, I suggest that we proceed with caution and carefully evaluate the market conditions before investing. With a well-planned trade, we can maximize our gains and minimize our risks.
Long
by RaynLim
Trade Both Ways!!Our analysis suggests that there is a sideway bounce trading opportunity, with resistance at 158.49 and support at 156.79. With a difference of 170pips, this provides an incredible profit potential that can lead to close to 1,790usd/lot. We have two sideway bounce trading strategies that we could utilize to maximize our profits. I would love to hear your thoughts on which one you prefer. Both strategies have been carefully crafted and have the potential to yield high returns. Let's take advantage of this opportunity, make a smart investment decision and plan your trade.
by RaynLim
One of my Fave!I wanted to share with you one of my favourite trading strategy, the Sideway bounce. Not only is it easy to execute, but it also delivers some of the most relaxing results. In this particular case, the resistance is at 148.40, and the support is at 147.51, which means they're 89 pips apart. This translates to an approximate profit potential of $890 per lot, both ways. To ensure success with this strategy, it's crucial to make sure the market doesn't violate the two levels. This way, we can maximize returns while minimizing risk. I believe that implementing this trading strategy will be incredibly beneficial to our investment portfolio. You have to make sure, not to overtrade it.
by RaynLim
Aggressive shorting opportunityI am looking at a shorting opportunity on the GBPUSD. Based on the 4-hourly chart, I am waiting for a magic candle to form up at 1.2368 for a shorting opportunity. My initial stop-loss is at 1.2454 (-86pips) or 860usd. At this moment, my projected target is at 1.2234 (+134pips) or 1,340usd/lot. Alternatively, you can wait for candlestick confirmation at 1.2405. The entry price is 37pips later, with the same stop-loss and target profit level. Your initial risk is now (-49pips) or -490usd/lot and target profit is now (+171) or 1,710usd/lot. As you can see from this real-life example, it is better to miss a trade than to engage in a trade you shouldn't have. I believe this investment opportunity has great potential for profit.
Short
by RaynLim
Counter-Trend Trading OpportunityEURUSD is currently experiencing a bearish trend, but for those who are counter-trend traders, there may be an opportunity to buy at the AB=CD pattern completion at 1.0602. It is important to wait for confirmation from a magic candle confirmation before executing this strategy. The initial stop-loss should be set at 1.0562 (-40pips) or -400 USD/lot. Our first target should be set at 1.0668(+66pips) or +660 USD/lot. Before making any trades, it's critical to do your own analysis and follow your trade plan. As always, it's essential to approach investment opportunities with care and caution. But if you're ready to take a calculated risk, this could be an exciting opportunity for you. Happy trading!
Long
by RaynLim
4
Opportunities Abound!The Dollar Canada pair offers a chance to capitalize on a bit of consolidation after an uptrend movement. Upon examining the daily chart, there appears to be a retest of the previous resistance, indicating a favorable buying opportunity for counter-trend traders. The 4-hour chart shows a retest of the support area, which could potentially lead to a harmonic pattern on the intraday time frame, such as the 15-minute or 1-hour chart. On the weekly chart, the Dollar Canada has a fib-3 bat pattern completing at 1.2579, hitting its resistance level. For support-resistance traders, there is a candlestick confirmation over here, which could indicate an aggressive selling opportunity. However, due to the lack of other trading ideas support, this may not be an attractive option. The daily chart shows a bearish shark pattern that has already been validated and engaged in movement, hitting the support level. Structure based traders may want to look for a buying opportunity around this zone at 1.3508. The 4-hour chart has a retest of support at 1.3495, which is a zoomed-in version compared to the daily chart. On the 1-hour chart, support-resistance traders can look for a shorting opportunity on the mini buy zone over here at 1.3529 the immediate level. The 15-minute chart provides multiple trading opportunities, including a bullish bat pattern completing at 1.3506, a bearish deep gartley pattern completing at 1.3547, and a bullish butterfly pattern at 1.3478. These opportunities can be identified by those who know how to spot them. As a suggestion, a Bullish Bat Pattern completing at 1.3506 has an initial stop-loss at 1.3492 (-14pips) and a first target at 1.3516, yielding approximately +100usd/lot for +10pips. Should the market extend upwards, a Bearish Deep Gartley Pattern is looking to complete at 1.3547, with an initial stop-loss at 1.3559 (-12pips) and a first target at 1.3530, yielding approximately +170usd/lot for +17pips. Please note that this is not a trading advice, and it is recommended that you do your own analysis before making any investment decisions.
by RaynLim
Bullish Momentum in Focus!Trading on the Euro Yen has been on a bullish trend, with some market consolidation due to the over-extended movement. To take advantage of this trend, we recommend buying at support and selling at resistance, which can potentially produce a profit potential of 170pips on the 4-hourly chart. On the daily chart, we have just broken the very aggressive and trending bullish trend line, but there are other trend lines that can offer a buying opportunity. However, we suggest waiting for a selling opportunity at 158.49 and a buying opportunity at 156.79 on the 4-hour chart, where there is a precise entry point for a bullish run. With an initial stop-loss at 156.33 and the first target at 157.35, this trade can be engaged on the 1-hourly chart at 156.82. It is important to note that this is not trading advice, and investors should do their own analysis and not follow blindly.
Long
by RaynLim
Strong Bullish Momentum!Despite the news, I've been bullish on the Dollar Yen and it appears the weekly chart is confirming that. It's currently on a bullish movement, having surpassed the immediate resistance level and heading higher. For counter trend traders, I recommend waiting for further confirmation before engaging in shorting opportunities. The four hour chart is on the rise to the previous resistance, but ensure to match your time zone with your trading house broker time. There's presently a violation of the previous high on both the four hour and one hour charts, so it's not ideal to short yet. If you're seeking a buying opportunity, keep an eye out for a pullback at 144.79. On the four hour chart, there's a trend line waiting for a retest at this level. Ensure to wait for candle close before entering trades and watch for the market respecting the trend line. Personally, I choose to look for a buying opportunity at 147.49. My initial stop-loss will be placed at 147.15, and target 1 at 147.94. However, please note this isn't trading advice, so be sure to conduct your own analysis and not follow blindly.
Long
by RaynLim
Contrasting Trends, Caution AdvisedIt is crucial to have a good grasp of how to interpret the market before making any trades. Although the current pound dollar movement leans towards bearish, the weekly chart indicates a positive trend. To capitalize on this, trend traders should sell, while counter-trend traders can take advantage of a shorting opportunity at 1.2317. The buy zone lies between 1.2313 to 1.2689, with a weaker bullish movement on the weekly chart. Remember to always conduct your own analysis and avoid blindly following others. If you're interested in learning more, feel free to chat with me.
by RaynLim
Bearish Trend in Focus!Despite the current bearish trend of the EUR dollar, there are still ways to profit from the market. After analyzing the weekly, daily, 4-hour, and 1-hour charts, I recommend two potential strategies. For a shorting opportunity, the 4-hour chart's key resistance area at 1.0693 provides an excellent entry point. Setting an initial stop-loss at 1.0710 and a target profit of 1.0642, you could potentially earn 510 USD per lot. However, it's important to conduct your own analysis before making any decisions. Alternatively, the 1-hour chart's bullish crab pattern with a bullish trend line presents an excellent buying opportunity. Waiting for a retest of the immediate support at 1.0650, with an initial stop-loss at 1.0630 and a target profit of 1.0672, could result in additional income. By spending just 15 minutes a day, you could potentially earn more. It's important to remember that investing always carries some degree of risk, and it's crucial to conduct your own analysis. Do not blindly follow any advice.
by RaynLim
Navigating Counter-Trend Waters: AUDUSD InsightsThe AUDUSD's prolonged bearish journey has sparked interest among traders seeking a potential rebound. However, it's vital to remember that market dynamics don't always adhere to expectations. For those exploring counter-trend opportunities, the presence of an over-extended Bullish Shark Pattern accompanied by a Bullish Trendline forms an intriguing combination. Exercise caution and await confirmation before entering the trade. Keep in mind, once the candle breaches the Bullish Trendline, this setup loses its validity. 📊🔄
Long
by RaynLim
1
Bullish Outlook, Counter-Trend Opp.The overall outlook for USDJPY leans towards a bullish trajectory. However, this week's strategies are tailored for counter-trend traders. For position traders, keep an eye out for a potential Bearish Bat Pattern forming at 149.28. Exercise patience and await confirmation before making a move. Zooming into the 4-hour chart, an ABCD Pattern coupled with an RSI Divergence at 147.77 provides an intriguing setup. If the market doesn't exhibit a significant gap upon opening, this could shape up to be a promising strategy. 🤔 What's your play in this scenario? Share your trade plan in the comments! 🗨️💡
Short
by RaynLim
Rediscovering a Classic: GBPUSD TradingAh, the good old days! This GBPUSD setup takes me back to my early trading days. The strategy? Simple yet effective: buy at support, sell at resistance. While some may view it as a scalping trade, dismissing it as low volatility, here's the kicker — there's a potential 56 pips in profit. 💰 My game plan? Patience. I'll wait for the next support retest, keeping an eye out for that magic candle confirmation before making my move to buy. Alternatively, if the market hits resistance, I'll await the same confirmation before considering a sell. 🕯️🔄
by RaynLim
Bearish Momentum Continues!📉 Monthly Chart: - Support at 0.6160, but no end to bearish trend. - Consider countertrend moves carefully. 📉 Weekly Chart: - Market near resistance, but don't miss the bigger picture. - Be cautious with countertrend trades. 📉 Daily Chart: - Strong bearish movement. - Market shows weakness at previous resistance. 📉 Four-Hour & One-Hour Charts: - Potential countertrend opportunities, but be cautious. - Look for confirmation before engaging in trades. 💡 Trading Strategies: - Weekly chart: Gartley pattern at 0.6173 for patient buyers. - Daily chart: Bullish crab pattern at 0.6191 for buying opportunity. - One-hour chart: Counter trend buying opportunity around 0.6400 if market breaks lower.
Long
by RaynLim