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Countertrend

SGDMYR - Exchange RatesOn 20 Apr 2022, SGDMYR shot up to 3.1466. To most Singaporeans who have commitments in Malaysia or Malaysian who are earning SGD, is a no brainer to change their SGD to MYR. But that night at 10.25pm, right after my Live Session, I've told a group of entrepreneurs NOT to change their SGD to MYR just yet. If you could wait for a few days. On Fri, 22Apr2022 market close at 3.1538. Based on the candlestick pattern and the Harmonic Patterns formation, Bearish Crab Pattern, it would be a good idea to change some MYR that could cover your monthly expenses or commitment for the next 3-5months. It would not surprise me if the market retraces back to the 3.1255~3.0990 range when Market Open. Share this with your friends as they might benefit from this and there are a couple of hours for them to make the arrangements. Forex Trading doesn't always mean that one should only trade on the Spot Market, but you can benefit from your day to day expenses, your investment planning and such.
Short
by RaynLim
AUDUSD - 5-0 PatternIf you have followed last week's analysis(link at the bottom), you could have caught some profit from the Bearish Shark Pattern setup. It's a bad idea to jump in the trade and take the short trade now because you won't have an edge over the market. Instead, you could wait for the 5-0 Pattern completion for a counter-trend move. The formation can complete as early as 0.7263. It is a 316pips profit potential trading setup. All the best to you. #iToldYouSo
Long
by RaynLim
EUR/USD (Counter Trend Trade) 1HRPAIR: EUR/USD TRADE: COUNTER TREND TRADE POSITION: BUY TIME-FRAME: 1HR -------------------- Looking at a lovely Counter Trend opportunity here on the EUR/USD. We're at major structure support on the daily and this is a wonderful level, to look for a long opportunity. We had an equal level move, with fibonacci extension 127% and 1414% with a double bottom here, however, the only thing missing on my filter is the RSI going oversold along with RSI divergence. Other than that, this is a good trading opportunity, to look for a pop out of the markets from the EUR/USD. Nice intraday setup. -------------------- Truly grateful to be here and share my thoughts with everyone. Always appreciate your thoughts and what you have to say and share, let's experience Trading in a positive way, together. Time is precious, be kind to everyone and be safe in the markets, always. "See yourself as love and only have that, to give away." -------------------- Phil C.
Long
by Phil_C
MATIC/USDT - LONG IDEA MATIC/USDT - LONG IDEA The Market has moved into the Buy Zone off the Daily Timeframe and forming a nice up channel which acts as Support and Resistance moving towards our Target of 1.822. A Gartley has just been fulfilled off the 4 hour timeframe which normally could signify the new low price for us buy the market on our way up to our daily target 1.822. We have found that there's a inner up channel trendline and a outer trendline , the question would be will the Market reverse now or will the market want to test the outer trendline which also acts as a Support Level as well. Trade : TP : 1.822 SL : 1.195
MLong
by MartinSturks
TEZOS (XTZUSD)- LONG IDEA TEZOS (XTZUSD)- LONG IDEA Tezos has broke into our Buy Zone Area off the Daily Timeframe we are now looking for low prices to Buy up towards our Daily Target of 4.3566. We have established an up trend/channel and looking to buy the counter trend break towards our Target 4.3566. Path 1 : If the channel holds then we could see the Market reversing off that support trendline towards our Target of 4.3566 . Path 2: If the trendline fails we have seen a strong Support Level below the trendline which could start the reversal to the upside towards our Target of 4.3566 . Take Profit : 4.3566 Stop Loss : 2.3736
XLong
by MartinSturks
AUD/USD Outlook (6 April 2022)Following the RBA rate decision and statement, the AUD/USD rose significantly towards 0.7650 This move was driven by the Reserve Bank of Australia's rate statement indicating possibility of earlier rate increases possibly in May (previously expected towards the end of the year) Overnight FOMC members commented - balance sheet reduction soon and 'at a rapid pace' (Brainard) - accommodative policy has to be removed, 50 basis points will be option to consider (George) This resulted in the US Dollar strengthening, retracing the AUD/USD from resistance zone 0.7650 Counter trend opportunity would be to sell the AUD/USD if price continues to move towards support zone of 0.7500
Short
by JinDao_Tai
LONG IDEA - EURJPY LONG IDEA - EURJPY Based off the Monthly Timeframe we have moved into the Buy Zone and now looking to Buy the market . If the Analysis holds true we anticipate the market push Bullish towards our daily Target of 145.733. The previous resistance could potentially become the new support round about 133.138 area . We as see a strong support level between 127.892 - 128.433 which the market could Potentially come back to and rally towards our Target of 145.733. TP 1 - 141.131 TP 2 - 145.733 SL - 121.425
Long
by MartinSturks
Long Idea GBP/JPYLong Idea GBP/JPY: Based on our Analysis we see a Strong Up Channel based off the Daily time frame Making HH and HL we anticipate a pull back and then a further push to the upside to our 3 Take Profit Areas highlighted . TP1 : 169.067 TP 2 : 170.467 (Monthly Take Profit) TP 3 : 174.707 SL : 147.034 If the market does a Deeper retrenchment to our second entry point highlighted round about 152.337 our Take profit analysis will stop at TP 2 : 170.467 (Monthly Take Profit) we will then anticipate a Larger than normal retracement.
Long
by MartinSturks
AUDCAD - Bearish Shark CheckbackIf you had read my previous analysis, this is how Shark Pattern works, when the Shark Pattern hit its stop loss, it may present you another trading opportunity of a further entry price. The problem with most trader is the hesitance to engage the trade, and I can understand that, you just got stop out. You aren't certain if this should be the trade to take. The Shark Pattern could present as much as 3 entry price to engage the same trade. It is common that a trader can feel distraught when they get stop-out 3 times within the same trade. But once you get comfortable with the Shark Pattern, it brings you more profits and losses in the long run. What I love about this Bearish Shark Pattern is that this is the last possibility of the Shark Pattern on this setup. I got stung out on the previous Shark Pattern, but luckily for me the Stop-Loss is only 39pips. Well, that's possible because of my background on structure trading for the past 17years. What about you? Are you comfortable tading the Shark Pattern?
Short
by RaynLim
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