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Countertrend

Leveraging Multi-Timeframe Bearish Shark PatternsI've identified an intriguing counter-trend setup on NZDJPY, which showcases alignment across the Weekly, 4-hourly, and 1-hourly charts, all converging around the same entry point featuring Bearish Shark Patterns. A notable aspect is the different starting points of the Shark Patterns across these timeframes, culminating in an intriguing entry zone. This convergence offers an opportunity with potentially lower risk and higher return probabilities. For a comprehensive view, check out the weekly chart within TradingView and explore related ideas. What are your thoughts or trade plans on NZDJPY? Feel free to share your insights or potential strategies below!
Short
by RaynLim
Potential Bearish Moves Amidst Bullish SignalsNZDJPY presents an intriguing trading setup despite being a counter-trend trade. The observation of a Bearish Shark Pattern checkback on the Weekly Chart , along with RSI Divergence , adds weight to this potential trade opportunity. I'm waiting for a shorting opportunity on lower timeframes and, specifically, looking for a 1-1 trading setup , intending to initiate a short position at 91.99 on the Daily Chart. Trade plans can vary among traders based on their analysis and risk management approach. What's your trade plan or strategy for NZDJPY? Feel free to share your insights or plans below!
Short
by RaynLim
Navigating A Weaker Bull Trend For Strategic TradingIt appears EURUSD is currently within a Weaker Bull Trading setup. For trend traders, waiting for a counter-trend opportunity might be a potential strategy. Counter-Trend Traders, here are two considerations for your approach: As the market resides in the supply zone on the Daily Chart, waiting for a double top formation coupled with RSI Divergence could offer an entry point for your trade. Alternatively, keep an eye out for an ABCD Pattern as it unfolds, presenting another counter-trend trading setup. These strategies aim to navigate against the prevailing trend, so it's essential to apply rigorous risk management practices. Happy trading!
Short
by RaynLim
Navigating the Bearish Shark PatternGBPJPY currently positions itself at the Bearish Shark Pattern. While the pattern is not yet confirmed, aggressive traders might be tempted to seize the opportunity early, either to ride the potential high or out of fear of missing the move. It's important to note that a shark pattern could offer as many as three entry points. I'm intrigued to know your trade plan for GBPJPY. How do you intend to approach this setup? Share your insights below!
Short
by RaynLim
1
Exclusive Insights Inside!Last week, I issued a warning: "it's not a good idea to short the USDJPY!" Despite months of anticipation, the bull run on USD is not yet complete. If you're still waiting for a shorting opportunity, keep an eye on the 4-hourly chart for the development of the bearish shark pattern—a potential entry point for this counter-trend trade. Now, let's discuss trade plans and your thoughts on the USD trend. What's your approach to USDJPY, and where do you see the US Dollar heading? Share your insights below!
Short
by RaynLim
2
Dive into GBPUSD Trading InsightsGBPUSD currently exhibits a Weaker Bullish Trend on the weekly chart, introducing interesting dynamics. On the 1-hourly chart, a bearish shark pattern emerges, presenting a counter-trend trading setup. Simultaneously, the 4-hourly chart showcases a bullish bat pattern within the buy zone. My preference in this scenario is clear—I favor the bullish bat pattern on the 4-hourly chart. Now, I'm curious about your preference. What's your take on these setups? Feel free to share your insights below!
Long
by RaynLim
Money Making Opportunities in EURUSDEURUSD is currently navigating a weaker bullish trend on the weekly chart, adding an interesting layer to the market dynamics. On the daily chart, a bearish flag pattern setup unfolds, creating an intriguing scenario. Furthermore, the 1-hourly chart reveals a bullish bat pattern, while the 4-hourly chart showcases a bearish bat pattern. In the week ahead, I'm poised to engage in whichever trading setup comes to fruition first. Now, I'm keen to hear about your trade plan. Do you carry any trend biases, and if so, what factors influence them? Your insights matter—please share them below!
by RaynLim
IoTeXUSDT - Trendline Breakout Idea ! Hey guys! It's been over 100 days that IoTeX has been in a downtrend. This could be yet the bottom to be confirmed. We need a good breakout of the trendline to the upside with nice strong volume otherwise this could go back into ranging more for a long time or even continue falling despite the bullish bounce off this key monthly level. TRADING PLAN AS FOLLOWS: First we need to see a solid trendline breakout. First TP would be 0.020 a psychological level. However, it could get pierced through so we need to monitor price action once it gets there. My desired level is the weekly mean reversion area where price has struggled in the past and it's also a key flip zone but in the weekly timeframe. This area has been a magnet for price so it could get there again. TP here would be around 0.02470 - 0.02680 If the trendline breakout fails, close position at breakeven IF price goes sideways and no direction whatsoever or it hits stop loss. I suggest to SPOT rather than futures as this is a counter trend trade set up. Risk is higher unless you follow rules strictly per your plan. Hope you find analysis useful! Kina 🙏
Long
by KinaStar
Potential Bearish Setup on Weekly ChartThe Bearish Fib-3 Bat formation on the Weekly chart certainly catches the eye, particularly with the presence of a long-shadow candle. However, it's important to acknowledge that the trading setup remains unconfirmed. Waiting for confirmation may entail missing out on potential profits, to the tune of 200 pips. Here are some strategic considerations: Option 1: Shorting Opportunity from Lower Timeframes One approach is to anticipate a shorting opportunity on lower timeframes, thus potentially capitalizing on a downside move without waiting for full confirmation. Option 2: Trading Within the Range (1-hourly Chart) Both sellers and buyers find opportunities within the 2 zone. This entails engaging with the Resistance at 150.49 and the Support level at 149.00. The pivotal question arises: What's your trade plan? Your insights matter. Please share your perspective below!
Short
by RaynLim
Potential Retracement Week AheadThe overall setup for EURUSD leans towards a Weaker Bullish stance. However, given the impact of Friday's NFP Candle, I anticipate a series of correction moves in the upcoming week. Therefore, I'll be ready to execute whichever trading strategy emerges. Potential Strategies: Daily Chart - Bearish Flag Pattern: The Potential Bearish Flag Pattern is nearing the sell zone. You can opt to wait for candlestick confirmation, possibly during Tuesday or Wednesday's opening. Alternatively, consider heading to lower timeframes to await a double tops setup before entering a short position. Support Retest - 1-hourly Chart: Trend traders might want to keep an eye on the market's retest of the support level on the 1-hourly chart, signaling a potential buying opportunity. Now, the crucial question: Which side of the chart aligns with your trading strategy? I'm eager to hear your perspective. Please share your insights below!
Short
by RaynLim
Navigating AUDJPY's Correction: What Lies Ahead?The AUDJPY currency pair has been in a bullish trend since late March, commencing at the level of 86.065. As of the current analysis, it seems that the pair is undergoing a corrective Wave 4, indicating a countertrend phase. This correction is composed of subwave A and subwave B within the larger context of Wave 4. Presently, the pair appears to be in the process of forming Wave c of Wave 4, and my projection suggests that it is likely to decline in order to complete the Wave 4 correction. Two possible scenarios are: A pullback to 95.251 price zone and a trendline break at 94.321 to the downside. My anticipated price regions for the completion of this correction are identified at 92.038 and 90.46. Once this correction is completed, I expect the bullish trend to resume. A breach of the price level at 96.969 to the upside would invalidate this wave count and the associated outlook. Cheers!
Short
by Samuel124
Amazing Shorting OpportunitiesUpon careful examination of the chart, it's apparent that the majority of retail traders are poised for a buying opportunity, making any talk of shorting seem unconventional. Yet, a different perspective emerges upon closer inspection. Observations: I've discerned indications that suggest a contrary approach may be prudent. Trading Strategy: I'm personally awaiting a shorting opportunity on the forthcoming completion of the Bearish Crab Pattern, projected at 1.3926. This stands in contrast to the previous crab pattern, offering a fresh tactical choice. For those still inclined towards a buying stance, a retest of the trendline on the 1-hourly chart might present the awaited opportunity. Now, the crux of the matter: What's your call? Your insights carry weight. Please share your perspective below!
Short
by RaynLim
Navigating Bullish Momentum Amidst Potential Caution SignsIf you caught my last week's analysis, along with the accompanying article on Trading View, you can dive deeper into the details by clicking the link. In my previous analysis, I emphasized the significance of waiting for the Bearish Crab Pattern confirmation on the Daily Chart before considering a shorting opportunity. Now, let's delve into why this is crucial: It enables you to distinguish between astute analysis and a sales-driven approach often seen in the financial world. If you happened to miss the initial shorting opportunity, there are three viable options to consider: Option 1 : A retest on the Bearish Crab Pattern on the daily chart at 150.43, presenting another potential shorting opportunity. Option 2 : A retest on the Bearish Shark Pattern on the 4-hourly chart at 150.45. These levels may appear close, but they entail different timeframes for trading confirmation. Option 3 : You might opt to await a retest of the trendline on the 4-hourly chart before engaging in this counter-trend trade. The critical question now arises: Which of these three options aligns best with your trading strategy, and why? I'm eager to hear your thoughts. Share your insights below!
Short
by RaynLim
Mth-long Consolidation for Profits GBPUSD currently exhibits a Weaker Buy signal, accompanied by a 5-week long consolidation phase. Trading Decision Dilemma: The month-long consolidation prompts a crucial decision: Will it be a buying or selling opportunity? Buying Opportunity: For those inclined towards a buying stance, watch for the completion of the Bullish Butterfly Pattern at 1.1951 for a potential entry. Aggressive Selling Approach: Traders seeking a more aggressive move may consider the Bearish Butterfly Pattern on the 1-hourly chart, providing an opportunity to short at 1.2180. Now, the pivotal question arises: Bull or Bear? Which side aligns with your trading strategy? Share your thoughts below!
Short
by RaynLim
Navigating the Weaker Bullish Setup The EURUSD displays a Weaker Bull setup on the Weekly Chart. Aggressive Approach: Opting for an assertive stance by seeking a shorting opportunity. Option 1: Daily Chart - Bearish Flag Pattern Waiting for a retest at the resistance level of 1.0620 before considering a short position Option 2: 1 Hourly Chart - Type 2 Bearish Deep Gartley Pattern Awaiting a retest at 1.0584 as part of the shorting opportunity strategy. I'm intrigued to hear your perspective. Which option resonates with you, and what's your rationale? Feel free to share your insights below!
Short
by RaynLim
Analyzing for Aggressive Shorting and Buying Setups! USDCAD presents multiple potential opportunities, with a current focus on a shorting prospect. Weekly Chart Influence: The weekly chart displays a Double Top Retracement, guiding the overarching trading decision. Approach Considerations: While an aggressive trade might opt for an immediate shorting entry, I'm choosing a more cautious approach. Short Trade Options: Daily Chart: Eyeing a Type2 Bearish Shark Pattern for a potential retest at 1.3744. 4-hourly Chart: Noting a Bearish Bat Pattern completion at 1.3770. 15-minute Chart: Considering a Bearish Shark Pattern projected to complete at 1.3733. I'm interested in your perspective. Which of these setups resonates with you, or do you have an alternative approach in mind? Share your insights below!
Short
by RaynLim
Warning Signs Amidst the Bullish Trend The overall trend on GBPUSD continues to be bullish, making it an attractive option for buyers. Long Trade Scenario: Daily Chart: A potential Bullish Shark Pattern nearing completion at 1.1937 suggests a buying opportunity. Short Trade Considerations: Personally, I'm inclined towards a shorting opportunity. Two potential setups catch my attention: 1-hourly chart: A key resistance level at 1.2174. Daily Chart: A Bearish Butterfly Pattern may complete at 1.2244. I'm keen to hear your thoughts. What's your trade plan? Comment down below.
Short
by RaynLim
Potential Buying OpportunityAs you may know, AUDCAD is currently on a Bearish Trend, which means that buying at this pair is a counter-trend move. However, I wanted to let you know that the Bullish Shark Pattern has been completed on the Weekly Chart with an RSI Divergence. There are two ways to engage with this pattern. The first is the Bullish Gartley Pattern, which has warning signs that it is completing on the 4-hourly chart at 0.8603. The second is completing on the 1-hourly chart at 0.8650. Given these options, which one would you prefer to choose? Let me know your thoughts and we can discuss further.
Long
by RaynLim