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Countertrend

GBPUSD-Weekly Market Analysis-Jan22,Wk2Compare to EURUSD, the GBPUSD Bearish Deep Gartley Pattern isn't as promising. There are 2 reasons for that: 1) The candle break and close above Point D, the PRZ. 2) Point BC has a violation. You can DM me on the reason for the violation and I let you know if you are on the right track. However, if you are a 4-hourly chart trader, you can wait for candle confirmation to engage a counter-trend trade not because of a Double Top but a retest of previous high with RSI Divergence.
Short
by RaynLim
GBPUSD - Consolidation at Bottom of Channel - Pullback expected*** Trade at your own risk! *** *** Not every idea is also traded by us *** Hi Traders! The setup of the idea is that the price is at an Area of Confluence right now and that leads us to a Pullback. It represents a Counter Trend Trade. The Area of Confluence, where price consolidates, are... @ the weekly Support and @ the Bottom of the Channel and after a weaker getting down-movement. That leads us to the result, that the market might pull back in the near future. Possibilities to enter: - Enter at the Break of the Consolidation --> (no FOMO, but fearness of Fake-Out) - Enter at the Retest of Break of Consolidation --> (safe(r) trade, but might miss it --> FOMO) - Enter after Pullback of Break of Consolidation (that means, that price can get deep into the consolidation again, before turning back up) --> (buying when others don't see it, need more confirmation for bullish Movement) - Enter now and wait for the Breakout --> (guarantee of good price when Breakout, but possible to hit your SL before going) Try to set your TP near to your entry. The last most likely TP would be at the upper Channel-TL which confluences with "Golden Zone" (Fib') and (low TF) Resistance. If you would like to ask or comment something or if you'd like to share your view, then you're more than welcome! Thanks and successful Trading :-)!
Long
by swissmoneymakers
2
GBPUSD-Weekly Market Analysis-Dec21,Wk3Undeniable GBPUSD is on a Bearish run. However, there is a chance that the counter-trend traders may push, once the market break and close above the Buy Zone(blue) especially on the Daily Chart, the Blue wins. For Harmonic Patterns traders or trend traders, there is an unbroken Bearish Gartley Pattern on the 1-hourly chart that is ready to be traded once the market open. The only downside of the setup is that Point C touches Point A. We can argue that Point A has an ultra-long candlewick, but rules are rules
Short
by RaynLim
4
NZDUSD - Bullish Deep Gartley @ XI know, I know... Lots of Harmonic Traders will not take this trade. But personally, I've tested this particular formation for more than 5years and it works perfectly for me so I'm going to take it. Deep Gartley Pattern at X is my favourite setup as it gives 1 of the best reward:risk ratio which happens to be the top 3 filters in my list. Combo with long shadow candles and counter-trend level off the daily chart became the best setup I could find. I've made my decision within seconds when I spotted this setup. Trading doesn't require you long hours starring at the screen and waiting for it to hit target or losses, you just let it run and set an alert at the right place. These became easy when you have a good coach that teaches you how to and where to. Check out my signature at the bottom
Long
by RaynLim
2
AUDUSD ANALYSIS I hope this should enlighten you more to know that we are now going to be printing some downtrends in currency AUDUSD, there was counter trendline analysis I made there and that should also help after completing the “M” formation we should see a little move to the upside and continue the downtrend, I’ll be glad seeing AUDUSD in $0.65-$0.60 levels As you can see my OB a lot of buyer are placing their order at that price ranges. Correct me if I’m wrong, Thank you!
Short
by w4jufx
4
USDCAD - Bearish ABCD PatternThe market setup for this week is interesting. We have a couple of setups that work on the lower timeframe and we have seen a couple of AB=CD pattern setups and complete. USDCAD has an AB=CD pattern setup on the 4-hourly chart that works on the 1-hourly chart as well. What I would like to see in this Bearish ABCD pattern is that it touches 1.2812 which is also the previous Resistance Level on the 1-hourly chart. A Double Top with RSI Divergence would sweeten the deal.
Short
by RaynLim
2
GBPUSD-Weekly Market Analysis-Nov21,Wk3On the Daily Chart, GBPUSD has finally broken and closed below the support level and has been deemed Double Bottom, Mission Impossible. A key resistance level at 1.3428 works on all 3 major timeframes, namely the daily, the 4-hourly and the 1hourly chart. You can wait for a double top setup on the 1-hourly chart the engage for a shorting opportunity. If you are looking for a counter-trend trade, the ABCD pattern that forms at 1.3314 and if it happens to touch the bottom of the Bearish Parallel Channel would give you an advantage to long.
Long
by RaynLim