USDJPY-Weekly Market Analysis-Feb20,Wk3If you had missed the counter-trend trade setup of a bearish shark pattern on the 4-hourly chart, now you might just have a second chance to engage the trade.
A bearish bat setup near the supply zone(red box) which happens to be the PRZ of the bearish shark pattern.
Bearish Shark
Trade Ideas Positions: NZDJPY SharkMiss the bullish run on the bullish crab setup? Well don't be, right now there is a trend trading setup on a bearish shark setup check-back. You just have to wait for confirmation to engage the trade.
On the 4-hourly chart of the NZDJPY Bullish Crab also forms a sideway bounce which gives a potential for a shorting opportunity.
BTC Bullish 5-0 Could take us back to $14k before reversalBTC has been showing some strength in the new year and has formed somewhat of a bearish shark that may very well turn into a Bullish 5-0, I have two paths here drawn out for the scenario that can play out if BTC pulls back at $14k. One is a pivot from the 50 percent retrace and the other is the 61.8 percent retrace at around $9600 which is confluent with a strong support at $9625
Something to note s that this is a bearish shark first and a bullish 5-0 second and it can reverse anywhere between the .886 and 1.13 retrace in which case from the actually pullback within that zone we might have to refib later on but this is the general idea.
These areas may also prove to be a good place to re-enter the market if you haven't already to take a shot on getting in on the trend continuation.
USDJPY-Weekly Market Analysis-Feb20,Wk2Looking for a selling opportunity within the supply zone, what's great about this counter-trend trade is that the PRZ falls in the same supply zone of the bearish shark pattern, definitely a great level to look at for counter-trend setup.
That being said, a candle confirmation is just as important
Trade Ideas Educator: CADJPY SharkAnother bearish shark set up at 83.81, on this setup, it is potentially a stack trade setup for the higher timeframe for a longer-term trend trading opportunity.
If the market dip further, this bearish shark pattern may fail, however, a bullish ABCD pattern may form 81.70. A candle confirmation is required to engage the trade.
Trade Ideas Educator: NZDJPY SharkA bearish shark pattern completing at 71.44 setups for a trend trading opportunity. It is also my prefered set up to engage and fulfil my longer-term trade plan.
However, if the market dip further, it will invalid the shark and give an ABCD pattern at 69.91 is set up for a countertrend trade. An RSI and candle confirmation is required for the ABCD Pattern.
RSI is critical in this scenario.
What's your trade plan?
Comment down below.
USDJPY-Weekly Market Analysis-Jan20,Wk3There's a double top on the 4-hourly chart with an RSI Divergence, but if having that doesn't give you comfort in the setup, well in this timeframe there is a bearish shark setup for counter-trend traders this is an opportunity for you to consider if you are in for the short.
Trade Ideas Educator: NZDJPY SharkA bearish shark pattern for a trend trading opportunity, this setup is almost perfect but a consolidation after a strong bullish uptrend bring a concern to this setup. Hence, I will not be placing a pending order, but rather look into the candle formation to see if this is a valid setup for me.
An extension of this setup AB=CD movement fills the gap that is shown on the daily chart, which may just provide a better setup for a shorting opportunity.
USDJPY-Weekly Market Analysis-Jan20,Wk2A pretty bullish run towards Point D completion does create some restrain in shorting this pair. When a likelihood of another war breaks out in the middle-east region, often not USD is viewed as the safe-haven currency. Many has changed over the years, people start to take JPY, CHF, Gold and even Bitcoin as the safe haven.
Well, is always better to be safe than sorry, I'm waiting for a retest on the resistance before engage for a shorting opportunity.
If a retest didn't occur then I'll engage this trade for a short-term short on the new sell-zone.
EURUSD-Weekly Market Analysis-Jan20,Wk1A retest of the previous high near D Point completion is where I'm looking for a shorting opportunity as a countertrend trade.
On a much lower price on the 4-hourly timeframe, I'm waiting for a buying opportunity, a Gartley pattern or deep Gartley pattern formation as a trend trading setup, lets see how this goes and more will be reviewed to my subscribers and update during this Monday Midweek Market Analysis.