🦈 Forming with BOS! GBPCAD - Nice shark pattern forming that I'm looking to trade (Countertrend) to fill the previous imbalances before a possible continuation. We currently have multiple BOS and bullish momentum.
Let me know your thoughts!
Countertrend
EURJPY - Bearish GartleyIf you are waiting for a ranging trading opportunity or a sideway movement, a Bearish Gartley pattern should be what you are looking for.
The Gartley Pattern is not the best setup we have identify and that is because Point C has touched Point A and that is a huge red flag for harmonic pattern traders.
USDJPY-Weekly Market Analysis-Nov21,Wk1The blue line that you have seen on the daily chart within this chart has turned to a red line that you can see on the current 1-hourly chart.
Counter-Trend Traders can wait for a shorting opportunity at 114.25 on a Bearish Shark Pattern as a counter-trend setup. I will be waiting for the market to consolidate at 114.25 before I engage the market.
GBPUSD-Weekly Market Analysis-Nov21,Wk1On the daily chart(related ideas at the bottom), the market is showing a Bearish Channel. Shorting became great idea for traders who are looking for trend trading opportunities.
On the 1hourly chart, traders can wait for shorting opportunity once the market has retraced back to 1.3741.
Counter-Trend traders can wait for a double bottom trading opportunity when the market touches 1.3672 and not close below 1.3668.
EURUSD-Weekly Market Analysis-Nov21,Wk1I'm waiting for a shorting opportunity at 1.1587 as a trend trading opportunity. Counter-Trend traders can wait for a double bottom opportunity at 1.1538 for a counter-trend trading opporutnity.
GBPAUD - Bullish Butterfly checkbackA bullish butterfly pattern checks back and it retests the previous candle wick that complete the butterfly pattern with RSI Divergence.
If this is for you. a Deep Gartley Pattern and Shark Pattern formed on the daily chart for a buying opportunity.
Based on the daily chart it is a trend trading(buying) opportunity for trader.
NZDUSD - Bearish GartleyIf you have been following our Live Session, you would have known that the Bearish Gartley Pattern was spotted.
What's so special about this setup is on the 1-hourly chart(right) has a Bullish Bat Pattern setup and its entry zone is at the completion of the Bearish Gartley Pattern's 1st Target.
How cool is that?
EURUSD-Weekly Market Analysis-Oct21,Wk5On the daily chart, EURUSD has broken and closed below the support. However, the 1-hourly chart, it presents a different view.
There are 2 potential development over here
1) A sideway bounce setup that gives selling opportunity on the red line and buying opportunity on the blue line 43pips opportunity on the 1-hourly chart is not too bad.
2) If the candle breaks and closes above 1.1666, then a Bullish Flag Pattern would complete. However, it is a rather weak Flag Pattern caused by the retracement move on the 1st move. What intrigue me is the completion of the assumed Flag Pattern ends before the Key Resistance Level at 1.1683.
Let's see how this trade pans out.
EURUSD - Bullish Flag @ Low Price(*This idea is not meant to be any kind of advice. Trade on your own Risk!*)
Here is the summary of the indications:
Low Price
Daily Broadening Wedge
Above weekly Support
Bullish Flag Pattern
Target is at the height of the bullish flag pole
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Hi Traders!
The setup of this idea is that the market is at a relatively low price at the moment.
Now, it is going up.
If you zoom out towards the daily chart, you can see that the market is moving in a Broadening Wedge,
from which it lastly touched the lower Trendline.
However, now we are in a Bullish Flag Pattern.
Simultaneously, we are above the major weekly Support.
The target would be the next major Resistance at around 1.17400.
This target is also at the height of the bullish flag pole - the distance, which
is typically used for the Bullish Flag Pattern.
If you have any questions, another point of view or something to add, please comment!
Thanks and successful Trading :-)!
Potential Conter trend corrective underway in the EUR/NZDGood afternoon folks, Happy Friday!
On our hunt for some potential ideas forming this morning, we came across an opportunity in the EUR/NZD.
At the moment price seems to have formed a nice higher low and has surged to the upside with a particular degree of momentum. Given that we have such a huge gap away from our 8EMA, I would expect the gap close to be well under way before long.
We did see something similar to this counter trend view earlier in the week before we saw another leg down but given where price is in the wider picture, having closed beneath major support, the likelyhood of a deeper corrective certainly seems to be on the cards.
Wait for a potential trigger via the breakout and retest of the 1.62400 zone for a potential window of opportunity to seek longs to approximately 1.63300-400.
Dont rush the process and trade the plan.
Have a lovely weekend!
USDCAD - Indications for a PullbackHi Traders!
The main concept of this idea is that the market broke the ascending daily trendline in the past.
Since then, it is moving lower in a tight descending Parallel Channel.
As the upper Channel "measures the Trend Change" we see that the market tends to make a Trend Change, because
it is more touching the upper TL than the lower TL.
That's why we think it will pullback.
After the Pullback, it is possible that it continues lower.
Here the indications which supports our view:
Downwards Movement --> daily Trendline Break
Going Up --> Touching the upper TL of the descending Channel
Going Up --> MACD shows Divergence
The first target would be the nearest Top at around 1.24000.
The last Target would be around the next psychological level of 1.25000.
If you would like to know more about the thinking process of this trade, feel free to comment!
Thanks and successful Trading :-)!
AUDCAD - Bearish ButterflyAn aggressive shorting opportunity for Butterfly Pattern traders. The candle wick just touches the HOP level and seems like it's going to reverse.
8minutes to go for the confirmation. I've engage an aggressive trade on this and I'll leave that to your call.
EURJPY - Bearish Deep Crab HOP LevelA Bearish Deep Crab pattern has touched the D-Point completion at 132.45. Counter Trend traders can consider engaging in the trade.
Conservative traders can wait for
1) Further consolidation and make sure it didn't break and close above 132.77 for a shorting opportunity.
2) Wait for consolidation to happen at 133.60 for a shorting opportunity as a second chance entry for a shorting opportunity. That level coincides with the daily chart bearish bat pattern.
Bearish Gartley Counter-Trend Pattern FormingNot much explanation needed here, we are forming a bearish harmonic countertrend pattern on the daily for BNB/USD.
The entry target is ~$600, leaving enough room with your stop-loss for a bear spring at the top, or waiting until the rollover / bear-spring occurs.
Bullish until $600 but we will need to reassess as time goes on to check if the pattern continues to be validated.
GBPAUD - Another Bullish SharkHowever, this is my prefered bullish shark to engage and there are 2 reasons for that.
1. At this moment, the bearish movement is still strong, it seems like it can go a bit lower before any reversal happens
2. The Shark Pattern that forms at this level coincide with the completion of the Bullish Bat, or better known as Fib3 Bat or Alt Bat Pattern at the 4-hourly chart.
3. The current Shark Pattern is the last level of possibility for a buying opportunity.
Shark Pattern can be a tricky and crafty one so if you are not familiar with it or do not have a coach who are well-versed with it, stay out of this pattern.
GBPAUD - Bullish SharkA Bullish Shark Pattern consolidate at Point D, providing a perfect buying opportunity for counter-trend traders.
Take note that tonight at 8.30pm(GMT +8), there is a US NFP, 1 of the most volatile event for this month. Hence, if you are in this trade, check at 7.30pm to see if it reaches the 1st target.
AUDCAD - Bearish ButterflyAUDCAD having a Bearish Butterfly setup that violates the bearish trendline. The close of the candle at point D of the Butterfly Pattern is pretty important for me to decide if I will engage the trade.
AUDUSD - Bearish BatBearish Bat Pattern on AUDUSD will set this pair into a counter-trend trade.
Having the candle bash through and close above point D, I will need to see a pin-bar or known as a long shadow before engaging the trade.
EURUSD 1h DEMANDI like this demand zone area on the 1-hour chart. It is sitting on an already tested 4-hour demand zone (faded green area). The only thing it has against it is that it is counter trending against the downtrend of the Daily bias. But the consistent HHs and HLs tell me that price is going to rally for a while, probably to mitigate inefficiency and/or the institutional candle above on the Daily. With that in mind, I'm taking partials at about 1:5 but I am open to holding it much longer.
AUDUSD - Bullish ButterflyButterfly Pattern completes at 0.7197. If the candle closes at 0.7200 will be a stronger setup for a Bullish Butterfly Pattern. Waiting for 1700(UTC+3) candle close.
EURUSD - First Pullback, Than Down-Trend-ContinuationHi Traders!
The market is in a Downtrend.
The concept of this idea is that the market goes up to make a Pullback.
After that, it'll fall down and potentially even reach the Weekly Support.
Here are some indications which supports our view:
- Up-Movement from here:
Bullish Divergence
Market didn't make any dynamic Pullback since the last Top
H1-Trendline offers itself as an Entry Trigger
-Down-Movement after Orange Box:
Daily Trendline
H4-Resistance
38.2% Fib' Retracement
If you have any kind of question or a different point of view, feel free to comment!
Thanks and successful Trading :-)!
USDJPY - Bearish Deep CrabBearish Deep Crab on the USDJPY H4 chart. If the candle closes below the red line which is also the HOP level of the Deep Crab Pattern. I will engage in an aggressive trade.
Let's see how the candle close at 1200(UTC+3) or 1700(GMT+8)
AUDCAD - Bullish CrabA bullish crab is going to complete at 0.9171 and this gives countertrend traders an angle to look for a buying opportunity.
Should the candle break and close below 0.9171, I will be waiting at 0.9142 on the Crab Pattern HOP Level for a 2nd chance buying opportunity which comes in line with the 4-Hourly chart's Bullish Bat setup.
