Checkback
EURJPY - Bullish Bat (23 Aug 2020)Friday spotted is a trading opportunity, a bullish bat pattern, but why I didn't engage. Other than it's Friday, it's the strong bearish movement of the currency movement.
I would rather miss the trade than to see that the market gap against me when the market open.
GBPUSD-Weekly Market Analysis-Aug20,Wk2We had entered a trade with bearish crab pattern check-back setup as a counter-trend trade. At this moment, it's the waiting phase, it is a test on our confidant, faith, greed and patience. At 1.2977, I'm waiting for a break and close below that level to hold on to the trade.
AUDCAD - Bearish Crab check-backA check-back on the bearish crab pattern with RSI Divergence on AUDCAD pose a great consideration for a shorting opportunity. On the Weekly chart, it is a major resistance area, but sadly target2 doesn't provide a 2:1 reward:risk, let's see how this trading setup pans out.
NZDJPY - Bearish SharkAfter the bearish shark confirmation through the bearish engulfing candle, I'm waiting for a check-back on the daily chart(left); on the 4-hourly chart(right) to engage the trade.
Most likely this will be a trade for tomorrow for people who are living around the (+8GMT) timezone.
Trade Ideas Position: GBPAUD BatGBPAUD has a complete bearish bat setup, and it is a counter-trend trade. This setup has a great Reward: Risk and market are near point X, the only concern is that GBPAUD is usually volatile and having it exceed point X before heading towards profit direction is a common scene.
Trade Ideas Analysis: USDJPY Check-BackIf a break below and close below of the current candle happens, I will engage a short trade.
Trading at C is not what I advocate traders to do. The reason is that it is not a pattern until it completes and reverses at point D.
In this case, it is possible because it has a Bearish Gartley Pattern that was ahead of it and a check-back to the HSI Arrow and a relatively acceptable reward: risk.