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Countertrend

CADJPY - Bullish SharkIf the 2 bearish candles didn't appear before the market close, the Head and Shoulders formation is an almost perfect setup. Now we need to have the awareness that the Bullish Shark Pattern may form and that will weaken the Shark Pattern. At this moment it is still too early to make any decision, it will be critical when the candle break and close below Point B. 2nd Target for the Head and Shoulders is at a Risk-Free setup. In fact, the stop-loss has locked 16pips of profit and that is the Worst Case Scenario for this trade. The Best Case Scenario will bring you a 217pips(approx. 2,170USD/lot) potential. Now, that's why Patience is Virtue!
Long
by RaynLim
EURJPY - Bearish SharkDo you remember the Bearish Shark setup that I've shared on 15 March 2021? Well, I don't remember the exact date, but tradingview does. That's 1 thing I love about tradingview. It helps traders to differentiate the real trader apart from those who just do screenshots that are favourable to their desired outcome. For those who have engaged on the Shark Pattern on the weekly chart, right now it is giving you 338pips(approx. 3,380USD) of running profits, from a 579pips(approx. 5,790UDF) retracement. Check out the link at the bottom of the tradingview post. At this moment there are 2 potential scenarios on its daily chart. A bullish bat completing at 126.00 as a trend trading setup or a Bearish Shark Pattern completing at 133.46 as a counter-trend trade.
Short
by RaynLim
USDJPY-Weekly Market Analysis-Sep21,Wk2Last week, I've shared with you that USDJPY is going to have a Bullish Shark Pattern set up within the 5-0 Pattern and the price to engage on the countertrend setup is 109.73(you can check the link within the TradingView chart and you can find the chart link at the bottom). The final target for the Shark Pattern brings 53pips of profit which is approximately 530USD/lot traded. USDJPY has just completed its Bearish Flag Pattern. I'm waiting for a double bottom, which means the market has to retest and touch 109.62 for a double bottom buying opportunity. This will put the trade setup to be a counter-trend trade and an RSI Divergence will be my minimum criteria to engage the trade and the first target will be at 109.88.
Long
by RaynLim
GBPUSD-Weekly Market Analysis-Sep21,Wk2Two weeks ago, we spoke about the Bullish Bat setup for a buying opportunity, at this moment the setup has brought a total of 238pip, which is equivalent to 2,380USD/lot traded. If you like to catch on the bull run, a retest on the trendline(blue) can create an opportunity for you to engage the trade. The immediate previous high can be your Target1. Counter-Trend Traders can wait for the Bearish Deep Crab Pattern confirmation at 1.3910. Usually, for Deep Crab Pattern, I will wait for consolidation and retest before engaging the trade.
Short
by RaynLim
EURUSD - Bounce off at upper Channel Line + DivergenceHi Traders! The market is in an Uptrend. This statement is supported by the fact, that the SMA 50+200 are crossing bullish right know, which is also called a "Golden Cross". So now, as the market is going up, we have to see when it's going to be over. So we here have some indications why the market is goint to end soon: Price moved really far until now The market is reaching a Daily Resistance The MACD shows some kinds of Divergence As we're in an Uptrend, don't set your TP too far away. Thanks and successful Trading :-)!
Short
by swissmoneymakers
GBPJPY - Bullish Butterfly ExtensionWe have a Head and Shoulders Pattern and it's completion come into the Bearish Shark completion. Well, it gives a 1:1 Reward:Risk but we are looking at 140pips of risk. WOW!! Not for me man! So instead of buying at 1unit, I'm going to wait for the butterfly pattern setup, a bullish butterfly completing at 151.05 for a counter-trend trading opportunity off the 15minutes chart but a trend trading on the 4-hourly. For this setup, I would rather miss the trade than to put myself in a 140pips risk.
Long
by RaynLim
Tutorial | How To Use RSI To Find Turning Points ... or NOT!Hey Speculators - Happy Friday - welcome to another video tutorial, and thanks again to the @TradingView Editors for featuring my last post, which I've linked here, and is related to the topic on hand for today. That topic is how, and when, to not fight a trend. I'd suspect many traders are familiar with the Relative Strength Indicator (RSI), used to measure overbought and oversold conditions. In this video, I discuss what I look for when using RSI to filter trade signals and identify when strong is REALLY strong. The inverse would hold true as well (you know, weak, or really WEAK), but we all know markets never go down. :) RSI Settings for this video 5 Period Upper 88 Lower 12
CME_MINI:RTYU2021Education
by RodCasilli
2
USDJPY - Bearish SharkA bearish shark pattern is about to happen on USDJPY as well. Sometimes these happen to the Yen pairs, 1 after another and it is really your trading rules to decide if you cherry-pick them or you engage them anyway. What's the difference between these 2 Shark Pattern setup is that this is a counter-trend setup. Traders who have the in-born mindset of how high can it go or buy low and sell high would prefer the USDJPY Shark Pattern setup. Which is your favourite? Let me know in the comment segment below.
Short
by RaynLim
4
GBPJPY - Bullish BatLike GBPUSD, GBPJPY also has a Bullish Bat setup that B point hasn't touch Fibonacci Retracement 50%. Although it is a similar setup, there are 2 things that GBPJPY came to a bit short compare to its big brother GBPUSD. 1. The Friday candle close haven't touched Point D. 2. Point C touches Point A candle body. Where we can wait for #1 to fulfil but #2 is a warning sign and the minimum candle formation you need to see is a Bullish Engulfing candle at Point D.
Long
by RaynLim