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Countertrend

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
EURJPY - Bullish Gartley PatternThe Deep Bullish Gartley Pattern on the 4-hourly chart happens to complete at the same level as the Deep Gartley Pattern on the daily chart. If you had missed the 1st trading opportunity, this might be a second chance to engage in the trade on this counter-trend setup. For trend traders, there is a red slanted line, and that is known as the trendline. It was the same trendline you can see from the link within the tradingview post below, resulting after the market has broken and closed below the sideways consolidation.
Long
by RaynLim