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Bearish Butterfly

GBPUSD -Weekly Market Analysis-October 2018, Wk 1If you have been a subscriber or follower on our youtube channel or trade ideas, you would have known this Harmonic Pattern - Bat Pattern form up way before it touches Pt D, is like 2 weeks ago we have been sharing, we are waiting for this, we are waiting for this. The overall analysis is still bearish, however, I will not be looking for a shorting opportunity until a retest of the structure has been fulfiled or target 2 being achieved. Traders who have not engaged the trade, do not chase the trade without a plan.
Short
by RaynLim
GBPUSD - Weekly Market Analysis - October 2018, Wk 4GBPUSD on the higher timeframe it is on its bearish move. On the H4 chart, interestingly the entry price for the bullish butterfly(cyan) is the exact price I'm exiting my Target2 on my Bearish Butterfly Pattern Type 2 Trade. I will wait for the candle form up based on H4 chart and that will help me decide should I engag a counter-trend trade? And if I did, should i engage base on Bullish Butterfly or Bullish Bat. Actual decision will be shared to my inner circle. On H1 chart, I am waiting to see if there is any bearish signal for me to short GBPUSD to the target.
Short
by RaynLim
Educational: How you can swing in bear marketHello Traders, If you follow my Bitcoin analysis, you probably know that I gave early warning about potential Bitcoin dip this morning. $6500 is definitely a becoming a major resistance and Bitcoin needs to go above this level in order to have trend reversal. However, this does not mean that you can't make money. Bearish breakout is as volatile as bull market, and we can take advantage of this volatility as out advantage. So how do we trade in bear breakout (this needs some practice so please do at your own risk). I will be predicting how ICON moves in this scenario. (this is purely a prediction and many things can wrong so please make sure you set very tight stop losses/limits) Step 1) When you see abnormally high selling volume --> Sell your share Step 2) Buy back at minor support --> 965 Satoshi Step 3) Sell at 38.2% fibonacci level --> 980 Satoshi Step 4) Buy back at same level as step 2 (or a little bit below) --> 965 Satoshi (this is because we need to see trend reversal by having RSI bullish divergence) Step 5) Sell again at 980 Satoshi --> Because this is the minor resistance, bears will most likely defend this point Step 6) Buy back between 965 Satoshi (I usually go a little bit higher for safety purposes) Step 7) End the trade --> this should lead to short term inverse head and shoulder pattern This way, not only you dont lose money in bear breakout, but you can earn profit in this situation. However, there is always an exception and I would highly recommend you to just practice first instead of using real money. Here is one good example: Step 1: Huge selling volume --> Sell Step 2: Buy back at 970 Satoshi Step 3: sell at 38.2% Fib level --> 1005 Step 4: Buy same or a little bit lower than 970 Step 5: Sell at 1005 Step 6: Buy back at 970 Happy trading!
Education
by x45lu