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Countertrend

USDJPY - Counter Trend Trading & Trend Continuation TradingHi Traders! The market is in an overall Downtrend. We are going to start the Multiple Timeframe Analysis with the Weekly TF. Then, we'll analyse the Daily, H4 and H1 Timeframes too. Here is the screenshot of the Weekly Timeframe: As you can see the main thing here is the falling Wedge. The market is moving in between those two descending Trendlines. Why is this Wedge so powerful? Because the price respected this Wedge more than the monthly Support: Here we can recognize the bearish Breakout of the Support in-between the Wedge. After the Breakout it started a consolidation. If we have a bearish Breakout of the Consolidation Box, we expect the Target of 101.000. At this Level the market has moved up fastly the last two times. Let's move on to the Daily TF: This movement of the price can be devided into four pieces: The price moved in the falling Wedge The price moved in the descending Triangle The price broke out of the weekly Support and formed a "neutrale" Triangle (it is neither ascending nor descending) The price moves in the consolidation box. Now we have two possible scenarios that the price could take: - Scenario 1: The price jumpes off the Support and reaches the blue dotted line. This line represents the Level of Breakout. The idea is here to trade the Retracement Movement to make the Retest. - Scenario 2: It is also possible, that the market breaks out bearish. Than the Target would be the Level 101.000. It is important to trade here the Retest of the bearish Breakout to avoid a False Break. Let's move on to the H4-TF: Here, the price moves in a Parallel Channel. We have two possible Trading Setups here: The Counter Trend Trade In this Setup, we buy the bullish Breakout of the Parallel Channel. The reason is to profit from the Retracement Move. The Trend Continuation Trade When the market finally reaches this orange Area, we are going to wait for a Trend Reversal (Candlestick) Pattern. Then we sell the price with the Trend towards the Bottom of the big main Consolidation Box. Lastly the H1-Entry-Timeframe: Here we explain the details for the Setup for the Counter Trend Trade. As you can see the price is now in a Triangle. So, we can have two Entries: - Entry 1 is at the bullish Breakout of the H1-Triangle. - Entry 2 is the bullish Breakout of the Parallel Channel. The SL for Entry 1 is below the recent low. The SL for Entry 2 is depending on how the price gets to make this Breakout and the SL could be below one of these potential higher Lows. The Target is the Area around the blue dotted Breakout Level. We recommend to trade with a small risk if you counter trend trade. Thanks and successful Trading :)!
by swissmoneymakers
3
USDCAD - A possible Bull run An expected consolidation on 4H. Since market had a massive sellers momentum, for a change of trend or any bull move, a consolidation is expected. Moreover on the chart, On 4H we can catch the LL to LH move. But, for now it is a bit risky to take the buy since on 1H market is failing to breakout. 1H - Market Fails to Make new LL and Rejecting the major key zone for 3 times, which is our Weekly key zone as well. All we need now is a breakout on 1H or if 30m Break structure and forms the first HH and HLs, then it would be a clear trade for long position.
Long
by Capitalflowsam
GBPUSD-Weekly Market Analysis-Dec20,Wk2Shark Patterns in the Harmonic Pattern setup is the most tricky setup. Last week, you have witnessed 1 of the potential setup of the bearish shark pattern(link at bottom) and we have all seen how the shark pattern was in place and created a strong resistance of the ascending triangle. This week the PRZ zone has moved up to the area and if this level is broken, there will be another level. Yeah, believe it. If the market falls from here, the support level would prevent it to create a free flow, we would expect more of a bounce then a free fall.
Short
by RaynLim
1
GBPUSD - Price Action Analysis --> Counter Trend TradingHi Traders! The market is in a longterm Uptrend. To get an overview of the current situation, take a look to this chart: This is the Daily Timeframe. As you can see there is an uptrending market. An ascending Trendline is supporting the Trend and this is also viewable on the weekly timeframe. We should take into consideration, that the market is at strong Resistance now and simultaneously in a Parallel Channel. Moving on to the H4-Timeframe: Here you can see a comparison of the three Up-Movements. This is a part of the Price Action Analysis. As you can see the Movements are getting weaker. In conclusion of that we expect a Down-Movement in the next candles. We recommend to trade the Breakout of the Trend towards the Parallel Channel. Thanks and successful Trading :)!
Short
by swissmoneymakers