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EURUSD - Bullish Crab checkbackWell, some asked how do I know the level of rebound even before the fall happens, well that's not the main focus here. It is important for traders to identify real traders that share their analysis before market movement than those who flaunt their trading results & luxurious lifestyle. The main focus is at this moment the market presents a good buying opportunity with reduced risk exposure but having the same target level. The real question will be what's your trade plan on this?
Long
by RaynLim
CADJPY - Bearish BatThis Bat Pattern is quite a highlight for me. I'm waiting to engage this trade only after Monday 11Jan21 1200hr(+2GMT) which is 6pm Singapore time. The preferred entry price is at 81.94. A lot of people may know harmonic patterns but they aren't aware of the rules and filters that's why the results that they are getting are not optimal. The best part of this Bearish Bat Pattern is that if it works, I may have a target stretch out to the Bullish Gartley Pattern formation on the daily chart. Look at Point C, I'm highlighting it not because of the Bat Pattern completion on the 4-hourly chart, it is more of it violating 1 of the rules of the Gartley Pattern, with that the market may fall through the Gartley Pattern and may even form a Crab Pattern, that would give me a potential target of 533pips that is looking to fulfilled as early as 26Feb2021.
Short
by RaynLim
USDJPY-Weekly Market Analysis-Jan21,Wk1Well, I've told you there's no need to panic for crab pattern, it usually has a retest of previous low before it took off. The structure of this trading setup is also known as a sideway consolidation, although the highs(resistance) and lows(support) are not too far apart(which will affect our income potential), it is still good for meal money. Well, in the short to medium term, the money is in the buying(long). If you are patient can wait for a retest back to previous low where my blue arrow sits to buy it, and if you are aggressive and like to get involved, you may consider shorting as long as the candle didn't break and close above the yellow channel when the market opens.
Long
by RaynLim
GBPUSD-Weekly Market Analysis-Dec20,Wk5On 16Dec, we have identified the ABCD pattern during our live session and right now, we have a Bearish Deep Gartley pattern that forms up within the consolidation zone of the ABCD pattern. No doubt, this is a counter-trend setup, it is a stronger setup then the week before as there is more indicator line up to support the pullback trade. The aggressive trader can wait for the pullback of 1.3580 to short the market, the conservative trader can wait to engage the market at 1.3608. For me, it depends on the candle formation at that level.
Short
by RaynLim
EURUSD-Weekly Market Analysis-Oct20,Wk4As EURUSD had a checkback on the bearish shark pattern, there are 2 major prices that I am waiting for the shorting opportunity. The first level I'm waiting to short is the previous high at 1.1873, traders might see it as a retest of resistance and head in for the shorting opportunity. Another level that I'm waiting for the shorting opportunity is at 1.1893, which is along the upper trendline that was formed by the parallel channel, the one rule for me to engage the shorting opportunity is that it shouldn't break and close above the channel.
Short
by RaynLim