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Countertrend

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 :-)!
Long
by swissmoneymakers
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.
Short
by RaynLim
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.
Long
by RaynLim
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.
Long
by QSInvestments
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 :-)!
Long
by swissmoneymakers
GBPJPY - Bearish SharkA Bearish Shark Pattern as a countertrend trade form up on both GBPJPY and EURJPY 1-hourly chart. As we know the shark pattern can have as many as 3different entry prices, these 2 patterns only have one. And both of them has RSI Divergence. That's one thing I love about these setups. Comparing the 2, EURJPY would be a much-preferred pair as it forms upon structure. We have also learned that cherry-picking don't do us much good. I'll engage both trading setups. I'll include the link to the EURJPY for your reference.
Short
by RaynLim
EURJPY - Bearish SharkA Bearish Shark Pattern as a countertrend trade form up on both EURJPY and GBPJPY 1-hourly chart. As we know the shark pattern can have as many as 3different entry prices, these 2 patterns only have one. And both of them has RSI Divergence. That's one thing I love about these setups. Comparing the 2, EURJPY would be a much-preferred pair as it forms upon structure. We have also learned that cherry-picking don't do us much good. I'll engage both trading setups. I'll include the link to the GBPJPY for your reference.
Short
by RaynLim
AUDCAD - Bullish Deep Gartley @ XA Bullish Deep Gartley Pattern complete at X might be a Harmonic Pattern that traders may forego. Well, for me this is 1 of the best setup as I got the lowest risk possible and highest return. And to make things even better, I've engaged a single target short with 2unit when the candle break and close outside of my channel as a potential bearish flag formation. In a way, this trade is risk-free for me. If you decide to engage the trade, you have to observe how the candle react when it approach this region.
Long
by RaynLim