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Countertrend

CADJPY - Bearish SharkCADJPY has been giving us an amazing trading experience. Once again, another Bearish Shark Pattern has formed up. What's different from this setup is that the 4-hourly candle has broken and closed above X. This is something that you shouldn't treat lightly. You can head to the lower timeframe and wait for a Double Top setup with RSI Divergence on the 1hourly chart. That should significantly reduce your initial stop-loss providing and reward of up to 5x.
Short
by RaynLim
CADJPY - Bullish SharkBefore I talk about the Bullish Shark, I like to talk about the Bearish Shark Pattern(check out the related ideas posted within TradingView). That trade's target one has been attained{90.44} a total of 192pips captured, and its first target provides a 2.74 reward: risk ratio. The market has to break and close below 89.81 will significantly increase the odds of the 2nd target being hit. I will be shifting target2 further to 88.80, giving a 4:1 ratio to its risk profit. If you have not engaged in the trade, do not chase the market. I will then reverse the trade by counter-trend trading it as I engage the Bullish Shark setup.
Long
by RaynLim
EURJPY - 5-0PatternA Bullish 5-0 Pattern complete on the Weekly Chart. If you had engaged the Bearish Shark Pattern I've shared last year, you would have gained a total of 848pips by just waiting for it to hit the profit level. Trading the Shark Pattern isn't an easy task as it can have up to 3 different entry zone, which means when you get stopped out the 1st time, you should engage the 2nd and 3rd times as long as formed up in those areas. But if you did short this, you would have gained a total of 848pips. 5-0 Pattern is much easier as it has only 1 entry zone and 1 profit level. You only need to wait for candle confirmation to trade back up to the profit level. I will be waiting for a double bottom setup with RSI Divergence on a lower timeframe to take advantage of the setup.
Long
by RaynLim
GBPUSD-Weekly Market Analysis-Mar22,Wk2We have a Bullish Deep Gartley on the Daily Chart. There are 3 things that I'm not comfortable with this Deep Gartley Pattern are: 1) A retest at Point C 2) Consolidation right before the Gartley Pattern completion. 3) Strong Bearish Candle as the Terminal Bar of the Harmonic Pattern. However, what's comforting to see is that the Weekly Support Zone(1.3220~1.31402) coincide with the Deep Gartley Pattern completion. What you can look out for is a Double Bottom with RSI Divergence that can strengthen the bullish movement of this trading setup.
Long
by RaynLim
EurGbp Buy. Strong buy on ARC SUPPORT Hello traders welcome again. Here is a follow up with my last Eurgbp daily buy signal which I posted few weeks ago. Today, we discuss the monthly chart of this pair. And as you can see the market is, as identified, in the 2nd phase which consists of a price channel , and expanding channel and a resistance Arc. Now price is approaching the ARC's strong support where it has been a bullish counter trend. I expect strong bullish reactions on at exactly around 0.8267 price mark, And a tight stoploss on this trade @ 0.82330. This is a counter trend trade so I expect price will be aggressive to the up side if it goes as planned. Price is still a few pips away but trade can be placed right about now. There is also an incomplete big bearish wave which is forming hence why the pair has been very bearish for the last couple of months(as you can see price retested the channel to push downwards in this case) and this pair making lower highs regardless. And that's why TP(0.864) has been set moderate, ofcourse you can hold long if you wish! This is just my opinion hope it helps. I have been following most of these pairs for over a year so i've not just come up with this analysis! Use reasonable risk. But this is also a good swing trade as i expect price to be bullish for the next 2/3 days!! Good luck. Entry 0.8267 Stop Loss. 0.82330 TP: 0.8678 BUY SIGNAL
Long
by kenzima44
21
EurGbp debunked. Strong Buy signal hello traders welcome again. Here is a follow up with my last Eurgbp daily buy signal which I posted few weeks ago. Congrats if you took that trade! Today, we discuss the monthly chart of this pair. And as you can see the market is, as identified, in the 2nd phase which consists of a price channel, and expanding channel and a resistance Arc. Now price is approaching the ARC's strong support where it has been a bullish counter trend. I expect strong bullish reactions on around 0.8267 price mark, And a tight stoploss on this trade @ 0.82330. This is a counter trend trade so I expect price will be aggressive to the up side if it goes as planned. Price is still a few moves away from the buy entry(0.8678) but thought i'd share ahead of this move. There is also an incomplete big bearish wave which is forming hence why the pair has been very bearish for the last couple of months(as you can see price retested the chanel to push downwards in this case) and this pair making lower highs regardless. And that's why TP(0.854) has been set moderate, ofcourse you can hold long if you wish! This is just my opinion hope it helps. I have been following most of these pairs for over a year so i've not just come up with this analysis. Goodluck!!
Long
by kenzima44
EURUSD - Bullish Bat PatternA Bullish Bat Pattern is spotted on the EURUSD, this is a sideway market movement. At this moment, I'm waiting for a retest at 1.1164 for a buying opportunity. If you are interested in this trade, you have to be aware that this trade could take from 3days to 2weeks to complete, there is a weekend risk influenced by the War between Russia and Ukraine(although it still has not shown up in the FX Market) To avoid weekend risk, you can decide to engage the trade after Market Open on Monday(GMT+8)
Long
by RaynLim
9
USDCAD SELL 15sSorry for the late publish. I was busy watching other pairs and it happened rather fast, being on the 15 second chart where I entered off confirmation. But I have reason to believe price is reversing towards the upside. So, this is more of a countertrend trade for a small 1:5 RR. Also, what held me up, was the acknowledgement of the countertrend. So, I waited for price to break below previous LL to take 30% partials and moved my stop to break even... Just incase.
Short
by QSInvestments
CADJPY - Bullish CrabAlert came in at around 4:35 pm (GMT +8) when I was having my tea break. The big long black bearish candle you see in the chart it's when it happens. I know that I have until 6 pm to make my trading decision. To trade or not to trade? Should I engage in both pairs or should I choose 1? That's how real trading can be. There's no need for you to guard your computer and wait for action on every tick. Sadly for USDCAD, the Bearish Shark got activated, and not the Bullish Gartley(check the link within TradingView) I have made my move on CADJPY. Why this pair and not another or both? Well, It might be too long of a post for that explanation. Allow me to keep it short by sharing only CADJPY. It has an RSI Divergence, which has been marked by a black arrow within this chart. No doubt a long shadow candle happen that is not showing immediate strength in the bullish setup. I see that the volume indicator on the side that gave me a 20pips leeway to place in my stop at entry when it happen. Once I did that, there will be no downside for this trade, and that's great! Judging the movement of the candle, I could expect a potential Head and Shoulder Bottom that can give me another buying opportunity at around 90.44. When that happens, it could form above the "area of concern" , what I need to see is the market break and close above the "area of concern" . It might be a clearer picture for you to decide to engage this trade when I share it(due to the formation of the candle) Could you imagine that I engaged the trade at 90.13 and not 90.22 at the price you have seen! It takes experience to read the chart and make the trade. Learn, Practice and get a Coach!
Long
by RaynLim
2