It could be an Head & Shoulders insteadIt could be an Head & Shoulders instead of a Bullish Shark Pattern.
Let's see.
Combotrade
Bullish Shark Pattern on NZDUSD M15 ChartI love trading sideways consolidation breakout trades, but since I missed the initial move, I've been patiently waiting for a retest. Now, an even better opportunity has presented itself!
What's Happening?
- Bullish Shark Pattern : A Bullish Shark Pattern is forming on the M15 (15-minute) chart at 0.6046 on the NZDUSD.
Why is this Exciting?
- Combo Trade Management : This setup allows for a combination of strategies that can significantly reduce initial risk while increasing potential returns.
How to Approach This Trade?
1. Wait for Confirmation : I'll be waiting for a Magic Candle Confirmation at the pattern completion point before entering the trade.
2. Risk Management : Include our stop-loss buffer just below the pattern completion to manage risk effectively.
3. Potential Upside : With the pattern forming and the potential retest, this setup could offer a great risk-to-reward ratio.
Final Thoughts
Sometimes, missing an initial trade isn't a setback but an opportunity to find an even better setup. Patience pays off! 🎯
What’s your take on this NZDUSD setup? Have you spotted similar opportunities? Share your thoughts and let's discuss!
Happy trading, everyone! 🚀
Second Attempt at Shorting NZDUSDI’m back at it with a second attempt to short NZDUSD, and here’s why this setup caught my attention.
Current Overview:
- 4-Hourly Chart:
i) Rising Channel: The pair is moving within a rising channel.
ii) RSI Divergence: This divergence signals a potential weakening of the uptrend, which adds confidence to the short setup.
Shorting Opportunity:
- 1-Hourly Chart:
i) Type 2 Bearish Shark Pattern: This pattern gave me a solid entry at 0.6029.
Strategy:
- 1st Target:
i) Extended to: 0.5992
ii) Why: The market reversed beyond the original 1st target, allowing me to extend it for better profit potential.
- 2nd Target: Keeping it open to adjust based on how the market moves.
Final Thoughts:
This setup combines a classic RSI divergence with a well-defined Bearish Shark Pattern, making it a compelling opportunity for a second short attempt. If you’re considering a similar trade, keep an eye on the targets and be ready to adapt as the market unfolds.
What’s your take on this setup? Have you noticed similar patterns in your trading? Share your thoughts and strategies below!
Happy trading, everyone! 🚀
AUDCAD Analysis: Focus on Bullish Shark PatternIf you're looking at AUDCAD, the 4-hourly chart setup might seem tempting for a buying opportunity. However, I prefer the 1-hourly chart, specifically the Bullish Shark Pattern.
1-Hourly Chart:
- Key Level : Ensure an MCC appears at 0.9041 before entering a buying opportunity.
What's your trade plan for AUDCAD? Comment down below and share your thoughts!
Happy trading!
EURUSD Analysis: Multi-Timeframe Shorting OpportunityHere’s a detailed look at the EURUSD across multiple timeframes:
Weekly Chart:
- The market is in a sideways consolidation phase.
- The upper trendline has been respected, indicating a potential downside movement.
Daily Chart:
- Watch for a retest of the Fib-3 Bat Pattern, which could offer a prime shorting opportunity.
1-Hourly Chart:
- I’m eyeing a retest of the resistance at 1.0863 for a shorting opportunity.
What’s your trade plan for EURUSD? Comment down below and share your insights!
Happy trading!
GBPAUD Trade Setup: Bearish ChannelGBPAUD has piqued my interest from a mid to long-term perspective. I'm looking at two potential shorting opportunities:
Key Levels:
- Short Entry on Resistance Retest: 1.9212
- Bearish Channel Indication: As long as this channel isn't violated, it strengthens the bearish bias.
I'll be looking for shorting opportunities on both the 4-hourly and 1-hourly charts based on these indications.
What's your trade plan for GBPAUD? Comment down below and share your thoughts!
Happy trading!
EURUSD: A Sideway Consolidation with Bearish SignalsEURUSD is currently showing a sideway consolidation on the weekly chart, but the daily chart is painting a different picture:
- Bearish Fib-3 Bat pattern with RSI Divergence
I'm eyeing two potential entry points on the 1-hourly chart:
1. Resistance retest at 1.0852
2. Type 2 retest of the Bearish Bat Pattern at 1.0879
What's your take on this setup? Share your trade plans and thoughts in the comments!
COMBOUSD 1WCOMBO ~ 1W
#COMBO If a retest of this Support line occurs, you can make a purchase, but you need to know, there may be many Candel wicks that will occur. This is a risky trade but it's worth trying.
with a target of at least 20%+
AUDUSD Long Opportunity: Leveraging Bullish Patterns for StrateHello, fellow traders!
AUDUSD presents an enticing opportunity for long positions, backed by the confirmation of a Bullish Fib-3 Bat Pattern on the 4-hour chart and a Bullish Wedge Breakout on the 1-hour chart. Let's explore three effective ways to engage this trade:
1. Retest on Support Line at 0.6613 (1-Hour Chart)
- Strategy : Wait for a retest of the support line at 0.6613 on the 1-hour chart and enter a long position upon confirmation of support.
- Rationale : This support level offers a favorable risk-reward setup, providing a low-risk entry point for bullish trades.
2. Retest of the 1st Trend Line (1-Hour Chart)
- Strategy : Look for a retest of the first trend line on the 1-hour chart and initiate a long position if the price bounces off this trend line.
- Rationale : A successful retest of the trend line validates the bullish momentum, offering an opportunity to enter the trade with confidence.
3. Retest of the Fib-3 Bat Pattern at 0.6600 (4-Hour Chart)
- Strategy : Enter a long position at the 0.6600 level, which corresponds to the Fib-3 Bat pattern and serves as a significant price-action level.
- Rationale : The confluence of the Fib-3 Bat pattern and the key price-action level enhances the reliability of this entry point.
Risk Management
- Set appropriate stop-loss levels for each entry strategy to manage risk effectively.
- Consider position sizing based on your risk tolerance and overall trading strategy.
- Monitor the trade closely and adjust your strategy if market conditions change.
Final Thoughts
With a Bullish Fib-3 Bat Pattern and a Bullish Wedge Breakout in play, AUDUSD offers multiple opportunities for long positions. By strategically entering the trade using any of the outlined methods, traders can capitalize on the bullish momentum with confidence.
Happy trading, and may the markets be in your favour!
EURUSD Analysis: Strategic Approach in Volatility PhaseOn the Weekly Chart, this looks like a regular day strolling down the road of simple support and resistance trading.
This is when new traders got it all wrong!
On the Weekly Chart, sideway consolidation occurred. When sideway consolidation happens, market expansion, known as a volatility increase phase, will definitely follow.
From what we had, at this moment, I'll be more inclined to take a buying opportunity at 1.0842 on the 1-hourly chart than to short at 1.0852.
Of course, this is not a sure thing; always plan and follow your trade plan.
NZDJPY Trend Reversal OpportunityOn the 1-hourly chart, it looks like a regular shorting opportunity with Key Resistance Level retested at the almost perfect, but potential BOJ Intervention zone, so for traders of all kind to ''try their luck!!''
However, on the Grand Scale of things, and it is a Type2 Bearish Shark Pattern on the Daily Chart.
After I'd include the buffer, I the market hit Price Action Level at 94.00, hence, I'd to push my SL 10pips away, but making it 94.10.
Let see how the market moves before the New York Session ''opens''
NZDJPY Analysis: Bullish Combo Trade SetupTrade Strategy: Combo Trade (Bullish Deep Gartley + Bullish Shark)
Key Levels:
- Bullish Deep Gartley Pattern: 4-hourly chart
- Bullish Shark Pattern: 1-hourly chart
- Trading Zone: Coincides with Bullish Shark completion
Analysis:
- Importance: Utilizes a combo trade strategy for enhanced risk management and profit potential
- Technical Analysis: Identifies a Bullish Deep Gartley Pattern on the 4-hourly chart and a Bullish Shark Pattern on the 1-hourly chart
- Trade Management: Enables a reduction in stop loss and potential expansion of profit targets
Trade Plan:
- Entry: Consider entering at the confluence of the Bullish Deep Gartley completion and the Bullish Shark completion within the trading zone
- Risk Management: Utilize effective risk management techniques to reduce stop loss and protect profits
- Profit Taking: Extend profit targets based on the combo trade setup and trading zone alignment
Insights:
The Bullish Combo Trade Setup combines two harmonic patterns, providing an opportunity for enhanced risk management and profit potential. Traders can capitalize on the confluence of patterns to optimize their trading strategy.
📈🦈 Keep an eye on NZDJPY for potential bullish movements based on the Bullish Combo Trade Setup!
GBPUSD Analysis: Support and Resistance Trade SetupTrade Strategy: Support and Resistance
Key Levels:
- Support at 1.2435 (1-hourly chart)
- Resistance at 1.2534 (1-hourly chart)
Analysis:
- Importance: Utilizes support and resistance levels for trading opportunities
Trade Plan:
- Buying Opportunity: Look for buy entries near support at 1.2435
- Shorting Opportunity: Consider shorting near resistance at 1.2534
Insights:
GBPUSD presents support and resistance trading opportunities on the 1-hourly chart. Traders can consider buying near support and shorting near resistance levels for potential profits.
📈📉 Stay alert for trading opportunities based on support and resistance levels in GBPUSD!
USDJPY Analysis: Shorting Opportunity Ahead- Timeframe: Weekly chart shows RSI Divergence
- Trade Bias: Shorting opportunities favored
Analysis:
- Weekly Chart: RSI Divergence signals potential reversal
- 4-Hourly Chart: Waiting for retest of previous resistance at 151.74 for short entry
- Combo Trade Strategy: Stretching targets for lower risk and higher returns
Combo Trade Strategy Explained:
- Definition: Trade management system to extend targets for enhanced risk-reward ratio
- Benefits: Lower risk exposure, higher potential returns
Trade Plan:
- Shorting opportunities identified on USDJPY
- Entry upon retest of 151.74 resistance level on 4-hourly chart
- Utilize combo trade strategy for optimized risk management and profitability
Additional Insights:
- Trading strategy not limited to shorting USDJPY; open to opportunities aligning with trading strategy
- Flexibility in trading approach across multiple currency pairs
Final Thoughts:
- Market dynamics are not constrained by directional movements of specific currency pairs
- Focus on trading opportunities presented by price action and technical indicators
- Adaptability and versatility are key to successful trading in dynamic market conditions
💡 Your Thoughts?
What are your views on the potential shorting opportunity on USDJPY? Share your insights and trading strategies in the comments below!
👍 Like if you appreciate this analysis! Remember, always conduct your own analysis and manage risk responsibly. Trading involves risks.
Buying Opportunity on NZDUSDThis week, I'm eyeing a potential buying opportunity on NZDUSD, and here's my trade plan:
1. Bullish 5-0 Pattern on Weekly Chart: The NZDUSD is currently in the zone of the Bullish 5-0 Pattern on the Weekly Chart, signaling a potential buying opportunity.
2. 4-hourly Chart Setup: The 4-hourly chart presents a candlestick confirmation at the Potential Reversal Zone (PRZ), indicating a possible entry point for long positions.
3. Confirmation with 3-Bar Reversal: Despite the candlestick confirmation at the PRZ, I remain cautious and will wait for further confirmation. I'm looking for a 3-bar reversal pattern, where the next candle closes above 0.6089 and retests the level at 0.6083 before considering a buying opportunity.
By waiting for the 3-bar reversal pattern, I aim to ensure a stronger confirmation of the bullish momentum before entering the trade.
What are your thoughts on NZDUSD? Feel free to share your trade plans and insights below!
Wishing everyone profitable trading ahead!
Long on GBPUSDThis week, I'm feeling bullish on GBPUSD, and here's why:
1. Weaker Bullish Trend on Daily Chart: Although the bullish trend on the daily chart is weaker, the recent violation of previous resistance suggests potential upward momentum.
2. RSI Divergence on 1-hourly Chart: The presence of RSI Divergence on the 1-hourly chart indicates a possible reversal or continuation of the bullish trend.
Given these factors, I'm patiently waiting for a buying opportunity at 1.2730, where I'll enter a long position on GBPUSD.
What are your thoughts on GBPUSD this week? Share your trade plans and insights below!
Wishing everyone profitable trades ahead!
Happy Trading!
Short on EURUSDThis week, I'm leaning towards a shorting opportunity on EURUSD for a couple of reasons:
1. **Bearish Shark Pattern on Daily Timeframe:** The presence of a Bearish Shark Pattern on the daily timeframe suggests a potential downward movement in the price.
2. **Breakthrough of Bullish Gartley Pattern:** The Bullish Gartley Pattern on the 4-hourly chart breaking through the Potential Reversal Zone (PRZ) indicates a weakening bullish sentiment.
3. **Waiting for Retest:** I'll be patient and wait for the market to retest the resistance level at 1.09121 before entering a short position.
What are your thoughts on EURUSD? Share your trade plans and perspectives below!
Let's make this week a profitable one!
Happy Trading!
Counter-Trend Trade on NZDUSDThis week, while many counter-trend traders might be eyeing a short on NZDUSD due to a potential setup on the 4-hourly chart, I'm taking a different approach.
Why I'm Bullish:
1. The market retested the previous resistance without creating an RSI Divergence, which raises concerns for a strong bearish move.
2. I'm looking for a buying opportunity at 0.6153.
Share your thoughts and trade plans for NZDUSD. What's your approach this week?
Let's keep the conversation going!
Bullish Bias on GBPJPY1. Bullish Bias:
- I have a more bullish outlook on GBPJPY compared to GBPUSD.
- Clear violation of the Daily Chart on both GBPUSD and GBPJPY.
2. Trading Setup:
- A Type2 Bullish Gartley Pattern on GBPJPY is the key trading setup.
- Aiming to go long on GBPJPY.
Share your insights and trade plans for the week. What's catching your eye?
Let's discuss and navigate the markets together!
Awaiting Retest for Shorting OpportunityUSDJPY has caught my attention with the potential for a shorting opportunity. Here's the breakdown:
1. Previous Bearish Run:
- A notable 850 pips (~8,500 USD/lot) on a previous USDJPY Fib3 Bat Pattern run.
2. Current Outlook:
- Considering a bearish stance on USDJPY.
- Awaiting a market retest on the 1-hourly chart at 147.74.
Share your thoughts and trade plans for USDJPY in the comments below. Let's discuss and analyze together!
Bullish Bias with Buying Opportunity on RetestGBPUSD is on my radar, and here's my outlook:
1. Bullish Bias:
- I have a bullish outlook on GBPUSD.
- The Friday close indicates a potential bullish
movement.
2. Buying Opportunity at 1.2819:
- I'll be patiently waiting for the market to retest 1.2819.
- Preferably, a double bottom formation with RSI Divergence would be ideal for a buying opportunity.
Share your thoughts and trade plans for GBPUSD in the comments below. Let's exchange ideas and insights!
#COMBO/USDT#COMBO
On the 4-hour frame, we have a bearish channel that the price is trading within, and it was broken
We have strong upward momentum that the price is expected to continue rising
The stability of the price above the moving average pushes the price to continue
Entry price 0.774
First goal 0.818
Second goal 0.875
Third goal 0.939
Bullish Flag Breakout and 5-0 Pattern Combo TradeI'm closely monitoring AUDCAD, and here's why:
1. Bullish Flag Channel Breakout on 4-hourly chart:
- AUDCAD has recently broken out of a Bullish Flag Channel on the 4-hourly chart.
- This breakout suggests a potential bullish move in the market.
2. 5-0 Pattern on 1-hourly chart at 0.8829:
- Waiting for a retracement, I'm eyeing the completion of a 5-0 Pattern at 0.8829 on the 1-hourly chart for a potential long opportunity.
- Utilizing a combo trade strategy to manage risk and enhance returns.
This combo trade involves combining the breakout from the Bullish Flag Channel with a harmonic pattern entry on a lower timeframe (1-hourly 5-0 pattern).
Feel free to share your insights and trade plans for AUDCAD in the comments below. Check the chart link for a visual representation.
