Counter-Trend for Greater ProfitsThis week, I'm looking at NZDJPY with a bearish perspective, and here's my trade plan:
1. Bearish Shark Pattern Confirmation at 91.74: I'll be patiently waiting for the Bearish Shark Pattern to confirm at the level of 91.74. This level coincides with the formation of a Head & Shoulders pattern, adding confluence to the bearish setup.
2. Extended Trading Targets: If the Bearish Shark Pattern sets up as anticipated, I'll extend my trading targets beyond the traditional Target1 and Target2. By doing so, I aim to capitalize on the potential bearish momentum and maximize profits from the trade.
3. Stop Loss Management: Once the market reaches the traditional Target1 of the Shark Pattern, I'll shift my stops to the entry level to protect profits and minimize risk.
By patiently waiting for the bearish setup to confirm and managing stops effectively, I aim to capitalize on the shorting opportunity presented by NZDJPY this week.
What are your thoughts on NZDJPY? Feel free to share your trade plans and insights below!
Wishing everyone successful trading ahead!
Countertrend
Short on EURUSDThis week, I'm leaning towards a shorting opportunity on EURUSD for a couple of reasons:
1. **Bearish Shark Pattern on Daily Timeframe:** The presence of a Bearish Shark Pattern on the daily timeframe suggests a potential downward movement in the price.
2. **Breakthrough of Bullish Gartley Pattern:** The Bullish Gartley Pattern on the 4-hourly chart breaking through the Potential Reversal Zone (PRZ) indicates a weakening bullish sentiment.
3. **Waiting for Retest:** I'll be patient and wait for the market to retest the resistance level at 1.09121 before entering a short position.
What are your thoughts on EURUSD? Share your trade plans and perspectives below!
Let's make this week a profitable one!
Happy Trading!
GBPUSD Trading Plan: Bearish Deep Gartley PatternFor those looking for a trading opportunity on GBPUSD, here's a potential setup:
- Setup: Bearish Deep Gartley Pattern
- Completion Level: 1.2726
The GBPUSD weekly chart has shown a bearish trend. The Bearish Deep Gartley Pattern completion at 1.2726 presents an opportunity for traders interested in shorting GBPUSD.
Please share your thoughts on whether you are considering a long or short position on GBPUSD.
EUR/USD Longs from 1.07800 back up to 2hr supply or above.This week's bias for EU resembles GU's, but I wouldn't be surprised if EU rises slightly to clear the 2-hour refined supply before dropping to remove the trendline liquidity below. Nevertheless, I anticipate price to eliminate the trendline liquidity and fill the small imbalance just above the demand zone.
During this process, I expect price action to slow down after consuming a significant amount of liquidity, signalling a potential Wyckoff accumulation phase. It's worth noting the presence of an Asian low beneath the demand, which warrants caution. However, I want to emphasize that this is a counter-trend notion, and my overall sentiment for EU remains bearish.
Confluences for EU Buys are as follows:
- Price broke structure to the upside and left a clean 10hr demand zone.
- Still some imbalance that still hasn't been filled as well above my demand POI.
- Market also broke major structure to the upside could indicate a bullish trend.
- there's some liquidity above the recent high that needs to be taken as well.
- Triple touch trendline liquidity that needs to be swept.
- for price to go down it must mitigate a supply higher up like that 12hr.
P.S. Ideally, I'm looking for another rally to trigger price action to clear out the significant pool of liquidity located just below the 12-hour demand zone at the top of the chart. However, I anticipate price to establish a new supply once it descends to take out the trendline. This would allow me to wait for a mid-week pullback to sell down towards the demand.
Have a great trading week and lets catch these PIPS!
GBP/USD Longs from 1.26200 or 1.26000 back up This week, my bias for GU is aimed at observing a return to a demand level to sustain a short-term bullish trend. With the recent upside break in price structure, a fresh demand level has emerged, potentially signalling a bullish upturn.
I'll be monitoring for a Wyckoff accumulation within my point of interest (POI) before considering buy positions. These buys aim to reach the supply zone for potential selling in alignment with the overall trend. However, considering the bullish outlook of the dollar, my bias still leans towards bearishness, viewing these buying opportunities as temporary.
Confluences for GU Buys are as follows:
- Price broke structure to the upside and left a clean 2hr demand zone.
- Still some imbalance that still hasn't been filled as well as a 20hr supply that needs mitigating.
- Market also broke major structure to the upside could indicate a bullish trend.
- there's some liquidity above the recent high that needs to be taken as well.
P.S. Given the abundance of liquidity surrounding my specified demand zones, I'll proceed cautiously, mindful of the potential for some zones to falter due to the presence of trendline liquidity. This scenario is expected to fill the imbalance completely and possibly reach the 20-hour supply zone I've marked for potential selling.
Have a great trading week people!
NZDJPY Trading Plan: Bearish Shark Pattern RetestIn our NZDJPY analysis, we are observing a potential shorting opportunity on the 1-hourly chart. Here are the details:
1. Setup: Bearish Shark Pattern Retest
2. Timeframe: 1-Hourly Chart
3. Key Level:
- Entry Point: Bearish Shark Pattern Retest at 92.07
The Daily Chart reveals a Bearish Gartley Pattern at X with RSI Divergence, suggesting a potential bearish move. On the 1-hourly chart, the Bearish Shark Pattern provides an additional layer of confirmation for a shorting opportunity.
Feel free to share your insights, and let's navigate this market together.
A Successful Long Trade on Bullish Butterfly PatternThose who went long on the NZDJPY Bullish Butterfly Pattern might have profited more than 100 pips (~1,000 USD/lot).
The trader suggests waiting for a Type 2 Butterfly Pattern at 89.35 or a retest of support at 89.73 for a counter-trend buying opportunity.
What's your trade plan for NZDJPY?
Counter-Trend Long OpportunityIn the prevailing bearish trend on EURUSD, if you're on the lookout for a buying opportunity, consider a counter-trend trade to go long at 1.0779.
Of course, patience is key, and waiting for additional trading setups might be necessary.
Share your thoughts on this potential trade!
Combo Trade OpportunityAn amazing Bearish Fib-3 Bat with RSI Divergence has surfaced on the CADJPY 1-hourly chart.
While some may see this as a great counter-trend trading opportunity, others might interpret it as a warning sign and choose not to engage.
But here's the twist - it's a Combo Trade.
On the Weekly Chart, there's a Bearish Shark Pattern Retest, accompanied by a Type2 Bearish Gartley Pattern.
What's your take on CADJPY?
Share your trade plan for CADJPY in the comments below!
Advanced Trendline Trading TechniquesCheck out these advanced trendline trading techniques for NZDJPY.
If you're seeking a counter-trend trading opportunity, watch out for a Magic Candle Confirmation (MCC) on the Bearish Trendline.
This will signal an entry point for a short trade.
Once the pair touches the next trendline, consider shifting your stop to entry and decide whether it's a satisfactory point to exit the trade.
What's your trade plan for NZDJPY? Share your thoughts!
Combo Trade Strategy for Potential Head and ShouldersThe USDJPY's Weekly chart is showing signs of a potential Head and Shoulders formation.
While engaging directly on the weekly chart might be considered risky, what if we use a Combo Trade Management strategy?
There's a Bearish Shark Pattern on the Daily chart, and we might witness a formation of a
Bearish Deep Gartley Pattern on the 1-hourly chart, providing a counter-trend trading opportunity.
Which of these trading opportunities do you prefer? Share your thoughts!
AUD bears eye break below 65c, but a bounce could be due firstRisk aversion reigns supreme, casting a dark cloud over AUD/USD just before today’s employment report drops. A stellar jobs report is unlikely to spark calls for an imminent RBA hike, but it might prompt some short covering on the Aussie.
Besides, there are early signs of stability above the 65c zone with Wednesday’s lower wick, which saw a false break of the lower keltner band. Perhaps some mean reversions is due.
Bulls could seek dips towards 65c with a stop below and initially target the 200-day MA – a break above which assumes a deeper retracement and relief rally for global stocks. However, given our bias for the US dollar remains bullish over the weeks ahead, bears may want to seek evidence of a swing high forming below 0.6650 before committing to fresh shorts. A break beneath 65c brings 0.6370 into focus.
Confluence of Bearish PatternsCADJPY is displaying a confluence of bearish patterns:
1. Weekly Bearish Shark Pattern:
- Retest in progress.
2. Daily Type2 Bearish Gartley Pattern:
- Completion aligns with the Bearish Shark on the weekly.
The trader plans to wait for a confirming candle on the daily chart near the level of 110.37.
Share your insights and trade plans for CADJPY!
The Duality of PatternsEURJPY presents an interesting scenario with a potential combo trade, or is it? Let's break it down:
1. 4-Hourly Bearish ABCD Pattern:
- Retest completion at 161.74.
2. Daily Bearish Bat Pattern:
- Completion at 162.55.
Two patterns, two different starting points. Is it a combo or a dual setup?
Share your thoughts and let's navigate this intriguing trade opportunity together!
Potential Head and Shoulders & Early Trading OpportunitiesUSDJPY is showing promise with a potential Head and Shoulders pattern on the Weekly Chart. Here's the game plan:
1. Awaiting Bearish Shark Pattern Confirmation on Daily Chart:
- Patient approach for a comprehensive setup.
2. Early Trading Opportunities on 15-Minutes Chart:
- Spotted Bearish Bat and Bearish Gartley Patterns.
- Potential for quicker engagements on shorter timeframes.
Stay vigilant and let's discuss your insights on this evolving USDJPY scenario!
Combo Trade: Patience for ConfirmationGBPUSD is setting up for a potential combo trade. Keep an eye on:
Bearish Shark Pattern:
Timeframes: 15 mins and 1-hourly
Completion: 1.2708
What makes this interesting is that both Shark Patterns have different starting points.
Exercise patience and wait for candlestick confirmation. Share your insights and trade plans on GBPUSD!
Waiting for ConfirmationIf you're seeking shorting opportunities on EURUSD, I've got two potential setups for you.
Remember, always wait for candlestick pattern confirmation before making your move.
Bearish Shark Pattern: Look out for completion at 1.0917.
Bearish Bat Pattern: This setup is more intriguing to me, as the Potential Reversal Zone (PRZ) aligns with the bearish trendline.
Be patient and let the market confirm the patterns. Share your thoughts and trade plans on EURUSD below!
Multi-Pattern Analysis - A Comprehensive ViewMonths ago, I shared insights into the impending Bearish Fib-3 Bat Pattern on the weekly chart, offering substantial profit potential (over 10,000 USD/lot). Check the detailed analysis within the TradingView post.
Presently, my attention is drawn to a potential Head and Shoulders formation, indicating a shorting opportunity of more than 1,000 pips on the weekly chart.
However, for those seeking a buying opportunity, observe the Bullish Shark Pattern completing at 143.71.
My stance: Bearish in the short-term, Bullish for the long-term.
Share your thoughts and trade plans below!
Anticipating a Combo Trade Short OpportunityMy sights are set on a compelling setup for NZDUSD. Both the Weekly and Daily Charts align with a Bearish Shark Pattern, presenting a powerful Combo Trade opportunity.
I'm waiting patiently for the Bearish Shark Pattern completion at 0.6352 on the 4-hourly chart, aiming for a High Profit Factor with reduced initial risk.
What are your thoughts on NZDUSD? Any strategies or insights to share?
Potential Short Opportunity on Bearish PatternsDespite GBPUSD demonstrating a Weaker Bull Trading setup, my analysis suggests a more bullish outlook compared to EURUSD.
However, I'm currently eyeing a shorting opportunity on a lower timeframe. The emergence of a Bearish Gartley Pattern retesting at 1.2752 or a completion of a Bearish Bat Pattern around 1.2803 appears promising for a potential short position.
What are your thoughts or trade plans for GBPUSD?
Share your insights below!
Anticipating Short Position on Bearish Shark PatternEURUSD recently faltered to secure a close above the Weaker Bull Buy Zone, indicating potential weakness in the bullish momentum. I'm eyeing a short position opportunity as the market unfolds a Bearish Shark Pattern on the 1-hourly chart, aligning with my counter-trend strategy.
What's your strategy or perspective on EURUSD? Feel free to share your insights!
Considering Retracement with Deep Gartley PatternConsidering a retracement move on USDJPY? Keep an eye on the Deep Gartley Pattern, expected to present a shorting opportunity around 142.54.
While maintaining a bullish stance on USDJPY, seizing an opportunity within a retracement trade could be valuable.
What are your thoughts or trade plans for USDJPY? Share your insights or strategies below!