Fib confluence strong EU ResistenceTriple fib confluence (x2 618 x1 127) at 158 even handle looking for possible bearish continuation
Very similar to AU trade taken last week
Plan your trade trade your plan!!
Confluence
Bearish Cypher Harmonic Pattern (Valid on D Timeframe) - ShortValid Cypher Harmonic on Daily timeframe
Daily:
Bearish Engulfing Pattern formed at 0.786 fibonacci retracement at which it completed the Cypher Harmonic.
Wick on Daily timeframe formed a double top and rejected at supply zone.
1 Hour:
Break of trendline @ 111.426 on 30/08/2018
Retest of trendline on shorter timeframe (15min & 5min) @ 111.436 - FIRST SELL OPPORTUNITY
First Take Profit (TP) target met at the 0.382 Fibonacci retracement of point C and D of harmonic pattern @110.962.
Price is now reversing with bearish engulfing pattern formed at the 0.382 reversal point - SECOND SELL OPPORTUNITY
Second TP target is at 0.618 fib Fibonacci retracement of point C and D of harmonic pattern @110.539.
AU Triple Fib Confluence Downside Trend ContinuationPrice in down trend coming right up into a big time fib confluence zone at the 73 even handle
Looking to at least retest previous support and look for extended targets into 724's
Can be an awesome trade if it works out with great R:R and good extended targets if we get past first target
Plan your trade trade your plan!
AUDNZD Sell IdeaH4 - We have two trend lines confluence point that has formed and the price has currently reached it.
We also have Hidden Bearish Divergence.
We may now look for more evidences of bearish pressure and start looking for sells.
GBPJPY SHORTThe minor up momentum on this pair seems to be dying out as sellers look to take back control and push price DOWN. Blue level is a possible entry point for my trade but I'm a price action trader!!! I'll react, or not react, to what price does when the market opens!
Happy Trading everyone! :)
stellarxtrading is where its at!
GBPAUD shortingSo GBPAUD gave us a nice shark pattern with its D point right at the trendline , a area of resistance AND at the 61.8!
so this means price has a nice chance of going down!
Also the MACD is showing me that this pair is losing its momentum to the upside.
as price is close to the resistance level you can put in a tight stoploss
Dollar Index - bearish targets?see chart for details, three areas of interest for this dollar bears to look at for targets, or for the bulls to look at for areas to enter longs.
ETC/BTC Short Hi everyone. ETC/BTC (ETC/XBT) has been pumping quite nicely these past couple of days. We are reaching a pretty strong confluence of resistance however, and I plan to attempt a short near the purple descending line. Some confluence to consider:
-Fib line
-Top of the daily cloud
-Descending resistance trend line
-Daily pivot Resistance 1
-Descending resistance on RSI
We may have a little more room to run on the L-RSI in yellow below. Once it tops out with a green candle, I will be shorting. If we end up getting a higher high however, I will stop out. Aiming for the previous support area.
NZDUSD Buy IdeaH4 - Pair reaching the confluence zone as marked on the chart, that would be a triangle and duplication of the first wave down.
This is where we may start looking for buy setups with bullish evidences.
Invalidation: If the price moves lower and if we get a valid breakout below the bottom of this triangle pattern then this bullish scenario will be invalidated.
BTC UpdateHi everyone! I've entered a long on BTC. I believe there is definitely a possibility of another leg down, but I dont want to miss the train and dont have much time tomorrow to watch it. We are approaching a major intersection here, especially the light blue ray i threw out a couple weeks ago. We are hoping that, and the previous trend resistance will act as support. I could see further retrace down to 7330 or so, maybe a wick down into the 7200s to shake out remaining weak hands. As long as we find some support here, we will validate the bullish divergence on the 12 hr chart as well.I will be looking to target at least the purple trend line, which I imagine will be around 8.8k when it gets there. I opened my lng at about 7536, so a close at 8.8k will make for a nice profit. Trade at your own risk! Uptrend has not been confirmed!
BTCUSD Looks To Make Significant Retracement Before Going HigherBTCUSD made a significant move up over the last 2 weeks from the 6500's, most recently breaking throught the 7800 level last week. After the break through 7800 it attempted to retest the 8600-8900 range but failed. After noticing an extremely overbought RSI and a developing double top I conducted some fib analysis. It seems there is major fibonacci confluence near the previous consolidation zone. (Blue box). I also noticed that there was bullish bat pattern beginning to form with a completion that resides within the confluence zone between 7200 and 7600. Because of the failed break in resistance I believe the market is headed to this level. It also seems that the move down to form the bat pattern could be the beginning of retracement wave 3 from an Elliot wave theory stand point. If entering into a bearish position, stops would need to be above the 8500 level, with target 1 around 7400. IF looking for a bullish position on BTCUSD I would suggest waiting until after the market retests this potential reversal region.
NZDJPY super fun tradeAs we are bearish on the NZD shorting the NZDJPY is a "no brainer".
It's a super fun trade because there is confluence of the trendline with the 61% fib and the R2 weekly pivot.
As I already am selling the kiwi I could only take a small position.
First target is at the 127% fib extensions around 74.77 because there are a lot of levels coinciding over there.
Trade safely!
Inverse H&S, along with a little downward wedge, stochastic up. All of these factors are coming together. Lots of retail coming in from FA news
USDCAD Double Scenario H4 - We may look for a correction to happen now and once this correction completes itself, we may look for short term sells towards 1.29.
D1 - 1.29 zone is a confluence of Fibonacci expansion level and 2 trend lines.
Once the price reaches this confluence zone, we may look for longer term potential buy opportunities with bullish evidences.
VEN Update. Possible reversal zone upcoming?So, After that little discussion on my last chart, I decided to look a little harder for clues. What the heck, we may have a bounce zone coming up. Lets see what happens when it hits. You never know!
USDCHF Fib Confluence Short TradeLooking for market to retrace after running into a 127 and 141 fib confluence that are within a pip
Market is also very overbought giving more cause to the short case
Not looking for total reversal just pullback to continue the overall trend
SL is at the 1.00560s above the previous swing high
Looking to take profit at 9990s
Good luck and always have a plan
ONT: UPDATEHi everyone,
Update on ONT. We've entered the trade at the green box posted up last week. Its still a tad early in my opinion. Better confirmation would be seeing this daily candle close as a bullish spinning top or hammer for a reversal, which looks like it may be doing right now. I would also like to see some upticking on the MACD histogram followed by a nice golden cross. Take what you can get!
USDJPY - BUTTERFLY SHORT SCENARIOBUTTERFLY PATTERN FORMATION ON USDJPY - LOOK OUT OVER THE NEXT FEW DAYS
GOODLUCK,
GBPNZD Bullish BatBullish Bat Formation on Higher TF.
Looking to go Long upon completion of this Bat pattern.
Bat Pattern = 50.0 B Point
XA: 50.0 Fib (B)
AB: 38.2 - 88.6 Fib (C)
XA: 88.6 (D)
ABA:161.8
88.6 Fib completion confluence with 1.775 Quarter Point.
SL & TP Given on the chart.
Goodluck
