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Countertrend

Countertrend

Bearish Crab meets Bearish Shark USDCAD has a very interesting setup. The completion of the Bearish Crab Pattern happens to be the Bearish Shark Pattern's HOP level. At this moment, it seems that the USDCAD is the better trading setup to short based off the counter-trend trading setup.

Short

USDJPY - Bearish Bat After weeks of waiting, the Bearish Bat Pattern on the USDJPY has finally been completed. Counter-trend traders, this could be your chance to engage. However, there are 2 warning signs I must point out. The completion of Point D exceeded the little red box known as the PRZ. A more conservative way is to wait for the 3-bar reversal to happen. Lastly, tonight(depending on which city you are in), there is a US ADP report, and this Friday is Non-Farm Payroll week.

Short

GBPAUD - Head and Shoulders Wait a min.. This is the kind of head and shoulders setup I will not engage. Trading classic chart patterns do require the right rules and filters. If not you will just be burning your capital away.

Long

NZDUSD - Bullish Crab A bullish crab setup with RSI Divergence could be encouraging for counter-trend traders. However, you must be aware there is a potentially Bullish Shark pattern on the daily chart. Despite that, I will wait for buying opportunity at 0.6104.

Long

AUDCAD - Bullish Shark As mentioned yesterday in our private channel(check the link at the footer) that today will be an active day for traders. I've engaged in this counter-trend trading opportunity, the Bullish Shark Pattern. If this setup fails, there is another level of opportunity, as we know that shark patterns can be tricky. Please do your own analysis and do not follow blindly.

Long

GBPAUD - Bullish 5-0Pattern First, before the 5-0Pattern is completed, it has to reverse at 1.7063 to show respect for the Bearish Shark Pattern completion. Would I take the trade? You bet I will! I will observe if the market will respect 1.6993; if it pauses and reverses, I know I have my Bullish 5-0 Pattern. The 5-0 Pattern is vital for my longer-term trading plan.

Long

USDJPY - Resistance Level If you read my last week's analysis, you should know that there is a potential Bearish Bat Pattern on the daily chart(the link is within the tradingview article). If you are looking for a counter-trend trading opportunity, the Bat Pattern might not be the best setup, and that's because I don't like what I'm seeing(consolidation before the Point D completion). I'm more inclined to wait for a shorting opportunity at around 137.56, which happens to be the 1hourly chart resistance level. First of all the initial risk isn't great; furthermore, it is a more important level of resistance.

Short

GBPUSD - Demand Zone GBPUSD is on a bearish run; I know counter-trend traders are waiting for the opportunity to engage in the trade. You have to be patient; wait for a 3-bar reversal before engaging in the trade.

Long

CADJPY - Bearish Deep Gartley CADJPY is on a Bullish Trend on all 3 major timeframes. A Bearish Deep Gartley Pattern may allow counter-trend traders to short the pair at 106.27. Before engaging in the trade, it is important to wait for the 3-bar pattern confirmation.

Short

EURJPY - Bearish Butterfly EURJPY has the most interesting trading combo. Traders can check out its chart, from the 1hourly chart to the Weekly Chart. It shouldn't be too hard for you if you are a trained Harmonic Patterns trader. The Bearish Butterfly Pattern completes at 141.88, be patient and wait for the 3-bar reversal pattern.

Short

USDJPY-Weekly Market Analysis-Aug22,Wk4 It is a joke to read that; "The US Dollar dipped on CPI data"; or "The US Dollar dipped on inflation". If you have been following us, you should know that the Buy Zone(Blue Box) has been there for a long time. Yes, the dollar is still bullish; some may argue that it is due to Yen's weakness, but you can check other Dollar pairs and compare on its daily chart. The dollar is far from the bearish move; however, counter-trend traders can wait for a 3-bar reversal at 138.35 at Point D of the Bearish Bat Pattern.

Short

GBPUSD-Weekly Market Analysis-Aug22,Wk4 The Daily Chart's Bullish Bat Pattern coincide with the 4-hourly chart AB=CD pattern that completes at the HOP level at 1.1824. This is a counter-trend trading setup; a minimum of 3-bar reversal is required, especially in times like this.

Long

Potential trade set up in GBPCHF Looking to GBP/CHF for a counter trend short as a possible recover to 1.15 - 1.18 is attempted

Short

06:02

USDJPY-Weekly Market Analysis-Aug22,Wk3 USDJPY is far from dipping or crashing, at least not now. However, counter-trend traders can wait for a shorting opportunity at 134.89 on a Bearish Shark Pattern setup. Traders need to wait for further confirmation before jumping into the trade.

Short

GBPUSD-Weekly Market Analysis-Aug22,Wk3 Structure Trader, you might have an opportunity to engage the GBPUSD on a structure based trade and to engage your counter-trend trade on the Key Resistance Level at 1.2179.

Short

GBPJPY - Head and Shoulders A potential head and shoulders setup that could provide more than just the regular target taking. I'm waiting patiently for the market to dive another 20pips more, and I will observe how the market interacts on the dotted line.

Long

XAU Quick Short 1760 Short off XAU from upper 1790 zone. The overall trend is still biased toward a long entry, although a prime entry point for longer-term bullish entry comes in at the 1760s zone rather than higher prices of the upper 1790s. The pullback may provide the liquidity needed to break the 1800 key level

Short

Updated

Some gbpusd setups I have some orders set here. Everythink depends on tomorrows usd eco data. Im ready cut my running trades if somethink acts unpredictable or off my idea.

GBPJPY - Bearish Deep Gartley A Bearish Deep Gartley Pattern is completing at 165.74. It is a level that will attract lots of counter-trend traders to look at.

Short

USDJPY-Weekly Market Analysis-Aug22,Wk2 With no mistake, USDJPY is on a Bullish Trend, but that doesn't mean we can't look for a counter-trend trading opportunity. We have a Bearish Crab Pattern completing at 135.58 on the 1hourly chart. On the 4-hourly chart, there is a potential Bearish Bat Pattern that has the potential of completing at 136.59. Knowing that this is a counter-trend setup, a candlestick confirmation is required against a strong bullish trend.

Short

GBPUSD-Weekly Market Analysis-Aug22,Wk2 A retest of 1.2026 on the 1hourly chart, not only it would give us a retest or to some a double bottom with an RSI Divergence, if you look at the bigger timeframe, the daily chart, you would see a potential Head and Shoulders Pattern that give an opportunity to long on this counter-trend trading setup.

Long

EURUSD-Weekly Market Analysis-Aug22,Wk2 A Bullish Butterfly form at 1.0045 could be an opportunity for counter-trend traders to wait for a counter-trend trading opportunity that completes at that price. However confident you are in the trading setup, it is important to wait for candlestick confirmation before engaging in the trade.

Long

AUDUSD - Head and Shoulders A potential Head and Shoulders formation may form on the AUDUSD 1-hourly chart. What are you waiting for? Well, I'm waiting for the candlestick close to decide if it is for me.

Long

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