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Breakandretest

AU looking good to hit the TARGET!Today was one of these days where I woke up late. However, didn't beat myself up for missing a few setups and waited patiently. After scanning through some USD pairs and fundamental information, I could see that at the moment I was looking at AU for a potential entry, USD was weak AF. Then looking at the 4H structure I could see that the bias was definitely bullish. 1H: saw a perfect brake and retest, after seeing that 1H candle closing on the B/R area, I went down to the 5min to see how price is reacting to some levels and wicks (RED LINES REPRESENT 5 min levels - I can't really show 5min tf through the analysis feature). Saw that price was holding a level that was formed by a 1H candle wick, set my buy stop confidently and went for it ... whatever happens, it is what it is! Will keep you guys updated.
Long
by ImElison
2
Sell from top the retest of the breakout---> This is your chance to welcome December <--- The market here offers us a great opportunity of a full pullback to re-test the critical area, so don't miss the chance of selling from the TOP ! ! After the breakout of the descending channel we had a corrective pullback and now we are heading for the continuation. RISK MANAGEMENT: --> At 1:1 Take 50% Parochial Profits and move to Break Even --> At 1:2 Take 25% Parochial Profits and move Stop Loss to 1:1 --> At 1:3 take the rest 25% Parochial OR extend your Take Profit target. HAVE FUN AND HAPPY PROFITS ! ! !
Short
by MONEYMAKER00
2
XAUUSD SHORTClear break and retest of a previous significant level. There has also been confluence with the Fibonacci golden zone. Price should reach TP 1 which is the -27.00 extension quite easily because it formally wicked there before. That means that price has now wick to fill . Once the 0.00 extension is hit, I will set trades . both position to breakeven to protect against a losing trade from any sudden major movements. After TP1 is hit, I will let the last position run to the -61.8 extension for TP2.
OANDA:XAUUSDShort
by jacolbywilliams11
EURAUD Potential Break & Retest OpportunityA brief overview of EURAUD. We recently broke a major key level in the market, potentially indicating a newly formed trend to the upside. New HH and HL have been put in before the break, and with 3 hours worth of information indicating a bullish sentiment, a retest of the previous structure and evidence of wick rejections could really help validate this potential trading opportunity. Remember this is just of my own opinion, this is not financial advice, this is for educational purposes ONLY!
Long
by RockzFX
9
GBPNZD: A drop is coming after the re-restINTRADAY/SWING TRADE: --> Here we have a beautiful Descending Channel, which broke the demand area and re-tested it. --> It's a high probability set-up with very good Risk To Reward ( 1:5 ). --> Don't miss the chance that market offers you with the re-test. --> Go to bigger timeframes (12H OR Daily) to see the exact pattern formation for a better understanding. --> At smaller timeframe you will see the aggressive break and the corrective re-test.
Short
by MONEYMAKER00
EUR/USD Short ideaLooking to get into a Short position intra day under following conditions only. 1: Break of the current 4hr trendline 2: Break of the recent low 3: Break of the 50 EMA 4: Await a re test of the break of the EMA and previous support, showing bearish PA on the 1 hr timeframe 5: Bearish confirmation of candle such as bearish engulfing, pin bar etc. These as confluence under my trading plan would create a valid trade. SL is place above the recent swing high to give the trade to breath and look for liquidity if required before the move. Risk management is key. Good luck to all
Short
by LewisBWalsh
AUD/JPY Price Trap IDEA* Break & Retest(1) - Wait for BREAK of resistance (ceiling) - Wait for RETEST (where price closes above the previous level of resistance) - Once price CONFIRMS resistance as a new support floor, IT IS SAFE TO ENTER. (2) - Wait for a BREAK of support (floor) - Wait for RETEST (where price closes below the previous level of support) - Once price CONFIRMS support as a new resistance (ceiling) IT IS SAFE TO ENTER. (3) *ENTRYS ON 15min Time Frame (4) Harmonic Scanner is calling a 'buy' 1 hour timeframe, potential 140 pips (5) Risk Management 0.01 per £100 0.02 per £200 0.03 per £300 0.04 per £400 0.10 per £1000 (5) 30 pips TAKE PROFIT 30 pips STOP LOSS 1:1 **FULL RISK DISCLOSURE: Trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is no guarantee of future results**
by Rimzie
GBPUSD SHORTClear breaout from the ascending channel that GU has been traveling in for a while now. We have now got a nice break and rates with confluence from the golden Fibonacci zone. I will be entering a short here to target my -27.00 extension. I will set the trade to break even once 0.00 is hit and close Position 1 after -27.00 extension is hit. Im gonna let the other position run to -61.8 at breakeven after TP1 is secured. Lets see what happens. We have 1 loser today so far.
Short
by jacolbywilliams11
GBPCAD SHORTThere has been a major break and retest shown on the H1 for GBPCAD. I have been waiting patiently for a nice entry and I have finally got my signal on the minute 15 Fibonacci retracement. Price has wicked my golden zone and is now beginning to fall away. My first TP will be at the -27.00 extension. Once TP1 is hit , I will set trade to BE and let the rest run to my - 61.8 extension. Sl is just a little above the wick in the golden zone. Lets see if price will fall heavily here.
Short
by jacolbywilliams11
Simple break and retest - immaculate execution. A key lesson to learn in trading is that opportunities don't appear very often. I'm talking about those sure-fire opportunities that you are 100% confident of taking without "ermmm'ing" and "arrr'ing". This was a move 2 days in the making. Just waiting patiently for that right moment to execute a flawless trade. Here is an example of a textbook break and retest trade. GU had been previously using the 'Key Level' I had marked, as a major resistance level. Yesterday, this level was finally broken. Unlike the fakeout which occurred 2 weeks ago, this breakout was CLEAN and market structure then followed by beginning to respect the key level on multiple occasions now as SUPPORT. Seeing this momentum shift, it was a trade that was too good to miss. Very little risk, high reward. As you can see, as of 18th Nov 2020, TP has now been hit, 0% drawdown once again (although SL was at 15 pips). Well done to those who spotted this and executed it correctly. 21% gain was made on this trade.
by Imyali92
GBPCAD SHORtOvernight during the London session price was able to test the major 4hr Ascending channel trendline and the minature 1hr ascending channel Trendline. After finding a break and retest of the trendline from the bullish rally to the trendline, on the m15 chart, I will be going short here and will be targeting the bottom of the channel. If price hault at a support zone while on the rally down I will take profit. But ultimately Im looking for a clean flood down of price to the bottom of the channel. Remeber to use RISK MANAGMENT. Lets see what the market does for us ladies and gents.
Short
by jacolbywilliams11
Chf/jpy - Short Another set up was provided today. I took this trade on the retest of a 15m level after getting confirmation on the 1D, 4H and 1H. Very simply, i waited for a key level to be broken on a clear trend and then went short once the retest of that key level started to show rejection. If you can keep your strategy simple you can repeat it easily, and this is key to staying consistent. My risk s 1% and i will be seeking 2x my risk, once the trade gets half way to my TP i will lock in stops at break even. I hope this helps.
Short
by ProsperousTechnician