EURUSD - Bearish Butterfly CheckbackA confirmed harmonic pattern - bearish butterfly pattern setup and touches the HOP level. I'd placed a pending sell limit order on for a counter-trend trade in view of RSI Divergence and a great reward:risk.
Countertrend
GBPAUD - Deep Gartley PatternWaiting for a buying opportunity at the Deep Gartley Pattern as a structure retest on a countertrend setup of a bigger bat pattern(check chart link at the bottom).
CADJPY - Double BottomWell, if you have missed the descending triangle, you can wait for the bearish shark pattern to short at the key resistance level as a trend trading setup. Alternatively, you can wait for a double bottom with RSI Divergence for the counter-trend setup.
USDCAD - Trading towards the Trendline - Pullback EntryHi Traders!
Here are the screenshots for the Multiple Timeframe Analysis.
If you want to know more about any methode, thought process or anything else, please ask in the comments.
The timeframes we analysed are:
Weekly Timeframe - Daily Timeframe - 4 Hour Timeframe - 1 Hour Timeframe
Weekly Timeframe:
Daily Timeframe:
H4-Timeframe:
H1-Timeframe (Entry):
We recommend to trade with a candlestick pattern confirmation.
Thanks and successful Trading :)!
Counter Trend Line Trading w/Fibonacci Key LevelThis is a quick glimpse at a counter trend trade that would have been a solid place for a long entry, once the counter trend line was broken.
USDJPY - RSI DivergenceUSDJPY has a Bearish RSI Divergence when it is forming it's ascending triangle. We have headed in for a shorting opportunity instead of a buying opportunity as President Donald Trump said there won't be a smooth handover.
On trade management, we will observe closely if the 1-hourly candle can break and close below the trendline, failure to do so, we might exit the trade in advance.
Based on the daily chart, it is a trend trading trade but on the 1-hourly chart, it is considered as a counter-trend trade.
GBPAUD - Bullish Bat checkbackA bullish bat check back trade has already setup. It's your call to engaged now or to set a buy limit at the level that gives you a better return. Conservative targets are set for this trade setup.
GBPUSD-Weekly Market Analysis-Nov20,Wk2GBPUSD is at the major resistance of the Daily Chart, a great consideration for a counter-trend trade, on the 1-hourly chart the same level marks the completion of the Bearish Shark pattern. I will wait for the market open to observe if there's any gap when the market open, what's caused by the US Election Results.
EURUSD-Weekly Market Analysis-Nov20,Wk2EURUSD is at daily chart structure high which gives counter-trend traders a good opportunity for shorting opportunity. Trend Traders can wait for candle consolidation at 1.1814 for a buying opportunity.
USDJPY - Bullish SharkOn the 16:00(UTC+2) or 10pm(+8GMT) if the candle before it closed as a long shadow candle, I'll head in for an aggressive buying opportunity. Take note that 3am(+8GMT), Fed Reserve Chair, Powell is going to speak, traders who aren't ready for that shouldn't consider engaging the trade.
However, if the long shadow candle didn't happen I will not engage this trade.
GBPAUD - Bullish Deep CrabWell, is rather rare for me to share my workings this way as I prefer clean chart, so bear with me on this.
There's a bullish deep crab setup on the GBPAUD, the level that the setup end was at a Major Support Level, on the daily, 4-hourly and 1-hourly chart. The first target of the bullish deep crab pattern coincides with the assumed retracement level I was looking at, with RSI at the overbought area and other things, I've already engaged the trade.
USDCAD - Head and Shoulders A head and shoulders pattern has already set up, if you are looking to short USDCAD, there are 2 approaches you may like to consider.
Wait for a break and close below the trendline for a shorting opportunity or a retest of the bearish crab and shark pattern for a shorting opportunity(link at the bottom).
USDCAD - Head and ShouldersA head and shoulders formation coupled with RSI Divergence give a strong call for me to engage another shorting trade. A long shadow candle would help me to make that tough decision. On top of that, I still have my existing shorting trade on bearish shark and bearish crab harmonic patterns engaged. Shark Pattern and Crab Pattern are the harmonic patterns that potentially drives lots of profit and at this moment it is at a risk-free zone(I'd shifted my stops to entry).
Which means every pip the market move towards my target(down) I earn double and if the market move against me i lose single.
USDCAD - Shark PatternThe USDCAD on the 4-hourly chart has a bearish shark pattern as well as a bearish crab pattern on both 4-hourly and 1-hourly chart. If the 1hourly candle close at 16:00(+2UTC) or 22:00(+8GMT) is a long shadow candle, I will short USDCAD aggressively as 2 harmonic patterns turn at a major resistance area.
EURUSD - Trend ReversalA counter-trend opportunity presents itself. It's not a usual setup I'll engage but this round the first target rested at 1.1787 that produce a good enough reward is to risk ratio.
Gold (XAUUSD) - AB=CD PatternGold on the 4-hourly chart didn't have a break and close below the trendline, on the 1-hourly chart it did break and close below the trendline but do note that it still fails to break and close below the previous low.
If you are looking for a more certain trade then wait for the AB=CD pattern completion at $1887.45 for a buying opportunity.
An aggressive trader can wait for the market pull-back to the navy trendline or the bullish channel to short the market and head towards the AB=CD completion.
USDJPY-Weekly Market Analysis-Oct20,Wk4Before we start sharing our take on USDJPY, do remember the USDJPY has been on a long term bearish trend, it created a series of lower-high on the higher timeframe.
On the 1-hourly timeframe, it shows a Bullish Gartley Pattern emerging. Usually, a Gartley Pattern has a V-Bottom when it approaches the Point D completion. With that said, always wait for candle confirmation especially when the entire trend is relatively bearish.
EURUSD-Weekly Market Analysis-Oct20,Wk4As EURUSD had a checkback on the bearish shark pattern, there are 2 major prices that I am waiting for the shorting opportunity.
The first level I'm waiting to short is the previous high at 1.1873, traders might see it as a retest of resistance and head in for the shorting opportunity. Another level that I'm waiting for the shorting opportunity is at 1.1893, which is along the upper trendline that was formed by the parallel channel, the one rule for me to engage the shorting opportunity is that it shouldn't break and close above the channel.
Gold Short Opportunity, Still in corrective phaseGold rejected yet again above that major trendline around 1912.
This opens up a short opportunity.
I will be looking for a retest and resumption downward on the 8 Hrly candles, following one of the two paths (pink or yellow)
EURUSD- Bearish SharkA bearish shark setup on EURUSD as a counter-trend trade, check your live chart as the candle opening and closing on the 4-hourly chart may show a rather different candle formation. If it closes as a long shadow candle, I will engage as an aggressive trade.
EURJPY - 1 Hour Rising Channel at Structure (2nd Chance Entry) I woke up this morning to a lot of bullish momentum on the EURO pairs & to no surprise as the session carried on we started to see the momentum slow, offering some pretty decent countertrend trading opportunities. One that I involved myself in this morning was the EURJPY.
This pair has yet to move to the projected target price so if we were to retrace & hold at the highs once again (Double Top) it would offer an excellent opportunity to get a second chance at getting involved in a short trade.
As always if you have any questions about the setup or simply want to share your idea, please let me know in the comment section below.
Wishing you a great trading week.
Akil Stokes
USDCHF - Pullback Trading Idea - Counter-Trend TradingHi Traders!
The market is in a Downtrend.
Let's begin with the weekly!
Here is it:
The market is here in a Downtrend.
Let's take a closer look to the the Price Action around the Support.
At first we had a Downmovement, but the Support held and the market turned over.
Then it came back again, but same thing: Market holds and turns over.
After that, the market broke through the Support and made a ner Low.
This is a new Low since July 2017!
Moving further to the Daily:
The market is here also in a Downtrend.
It broke through Support and retested it also successfully.
Now we have to observe what the market is doing in the red area.
Key Question: How will the market react to this area?
Is it going to reverse or continue lower?
Is it ready for the next downmovement or not?
Moving on to the H4-Timeframe:
Here you can see another strong Downtrend.
The market makes a trending move and a retracement move alternately.
At the moment it is in a trending move, so we can prepare for the retracement move.
What you can't see in this chart, is that we analysed the amount of the retracement from the trending move.
Here are the Results:
50%
61,8%
61,8%
78,6%
As you can see, the market is retracing more and more in comparison to the Trending Moves.
That's why our TP is at the "safe" 61.8% Fib' Retracement Mark.
Last but not least, the Entry H1 Timeframe:
What you can see here is only the tight Trendline, which could serve as our Entry.
The SL is below the Low and the TP at the 61.8% Fib' Retracement.
We recommend to trade counter Trend Trading only if you're not a beginner anymore!
Thanks and successful Trading :)!
