Dollar Bias!My Bias for Dollar Appreciation started on 14 Oct 2021; it has been right after all. The leading trade I'm looking at is a buying opportunity on the 1-hourly chart, left and might keep my final target open and observe the candlestick pattern movement when it approaches its new resistance level.
If you are looking for a counter-trend move, I've something for you. A Bearish Butterfly Pattern that seems to complete at 141.65; in order for this trading setup to complete, the candlesticks pattern must touch 141.51 within the next 2 candles, which means within 8 hours after the market opens.
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Countertrend
What's Next?I'm waiting for a shorting opportunity on the EURUSD, and the best trading setup I could be waiting for is the retest of the previous resistance at 1.0960 on the 1-hourly chart.
If you are waiting for a buying opportunity, the support level on the 4-hourly chart, 1.0863, could interest you.
What is your trade plan?
Comment down below.
Best of Both WorldsMy long-term bias on Dollar Appreciation had not ended, however, that doesn't mean I can't short the Bearish Crab Pattern that was completed at 140.42. If you had traded this, it would have given you 106pips(approx. 1,060usd/lot) of running profits.
If you are like me, having the bias to long the USDJPY, the Bullish Gartley Pattern that completes at 137.84 could provide you with such a trading opportunity.
Either way, the M.C confirmation has to appear in both situations.
Counter-Trend MoveThis could be for you if you are waiting for a counter-trend move. A Bearish Gartley Pattern is expected to complete at 1.2605, but the earliest for that is on 12 Jun 23, 1200(utc+3); any earlier than that, the trade would be invalid.
If a break and close above 1.2605 occur, I will wait for an M.C confirmation at 1.2659 on the ABCD pattern.
Both of these Harmonic Patterns are counter-trend moves. On GBPUSD, that means a pullback trade. Overall, my sentiment remains bullish on the GBPUSD.
GOLD- short term long idea for tomorrowOn the left we have a partially mitigated strong order block, after Asian consolidation, looking forward to a short term long position with 1:8 RR
Order block principles:
1) OB must take liquidity or have liquidity to take below
2) OB breaks something significant
3) OB is relevant to current price action
4) OB caused imbalance (made a fair value gap)
5) OB has a liquidity pool to target
Take care!
Peter
Counter-Trend Trading opportunityLow Risk, Good Return Trade
A Bearish Shark Pattern has shown up on the AUDUSD 4-hourly chart. As it is not the best trading setup but the second target produces a healthy Profit Factor of 2.
I've shorted the Shark Pattern as it coincides with the 1-hourly chart 3 drive formula.
This is possible because we use our in-house A.P.E framework and this is known as the combo trade.
Low Risk, High Return TradeA combo trade, this is what I call it.
A Bearish Shark Pattern appears on the M15 chart coinciding with the 1-hourly chart Wedge Pattern with a retest of resistance, allowing me to engage the trade base on the M15 chart but allow an extended target on the 1-hourly chart.
As good as it sounds, I'll be placing my stop loss as per usual and will not overtrade this.
A counter-trend move, is it a good ideaIf you have been following me for sometime, you would know that I've my bias in looking to long the US Dollar.
At this moment, there isn't such opportunity, but multiple shorting opportunity presents itself, in this moment, the bearish crab pattern, retest on the 4-hourly chart.
I will take the trade once the market has show the confirmation and will treat it as a counter-trend trade.
Long Scalp on ETHAfter the daily made a bearish push to the downside I wanted to see how price reacted to the 38.2 prz level. on the 4H, a hammer on top of the 38.2 fib as well as support. Breaking things down to a lower timeframe I had a correction trendline drawn from the latest swing highs. Price had broken the correction trendline and began up trending on the 15min and 30min chart so i bought with my stop loss being below the 30min low. take profit at -27.% from that 38%.
GBPAUD I Approaching supply zone where it may fallWelcome back! Let me know your thoughts in the comments!
** GBPAUD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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I might buy this minor uptrend but GOLD IS BEARISHGold is coming off of lower low after lower low on all major timeframes so its not surprise that my first bias is bearish. However, when it comes to intraday trading, momentum is important for swings in the market and the difference between volatility or consolidation while profits float. I'm going to take this opportunity to buy gold if a structural higher high is formed since my immediate correction trendline has already been broken. Any buys are short term countertrend moves as the winning team is currently the bears. The neckline of the daily double top and retest of weekly resistance will not go unnoticed.
AU providing a hint for a reversalAUDUSD is currently at its lowest point since breaking out of consolidation on last week. This week it may look to re-test the bottom of the range or the neckline of a confirmed double top bearish reversal pattern. However, the case, this pair is overall bearish. The big move will come from a short. I've noticed that its currently trading around the weekly support and has performed a higher high, would be a trendline break if price wasn't moving so fast but the moving average has already crossed to the upside. If that low holds as support, I'll look to buy to the 38.2 Price reversal zone (PRZ).
I'm correcting errors mid-weekI decided to publish a video about the recent trades taken and the aftermath. I believe that I see structure clearly, however my bias changes depending on the timeframe. I'll be ultimately bearish on Sunday and Monday, then decide I want to be bullish Monday night to trade up to the sell. I understand that counter trend trading is dangerous to the risk: reward portfolio. This video will be watched back 2-3 times by myself as I learn more about the market from "teaching" it. I'll also be posting more videos regarding pre analysis, leading up the decision to take the trade.
Counter trend Buy Opportunity On the 1H I believe that now is the best time to get inside for a countertrend bullish move. Gold is in a downtrend since reaching its all time high. Intraday I will spot higher highs with strength and momentum. The prior higher high was fairly strong. Price retraced to the 38.2 then began giving bullish reversal signals. My target is the major 38% retracement of a daily swing low. The entry was based on the 30min.
CHFJPY I Counter short idea Welcome back! Let me know your thoughts in the comments!
** CHFJPY Analysis - Listen to video!
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Unveiling the GemsSideway patterns, often labeled as losers or deemed non-tradable periods by some, invite differing opinions and perceptions. It ultimately rests upon the individual trader to discern their potential. As for me, I perceive them as a treasure trove of trading opportunities waiting to be explored. Why, you may ask? It's quite simple - all I need to do is sell at the high, known as resistance, or buy at the low, known as support.
However, before plunging into these trades, I exercise caution and adhere to a meticulous approach. My aim is to ensure that my final target yields a profit factor of at least 2, and that a minimum profit potential of 50 pips awaits me before I engage in any trade.
On the right, a fascinating Bearish Bat Pattern is currently unfolding, tantalizingly close to completion at 0.6361. Meanwhile, on the left, the support and resistance trade strategy beckons with its own allure.
Now, the question arises: Which of these enticing trading setups resonates with you? Join me as we explore the path less traveled and unlock the potential hidden within these captivating patterns.
The Oldest Pair I've TradedDo you still remember those unforgettable moments when I first embarked on my trading journey with GBPJPY? It holds a special place in my heart as the very first pair I traded, and I stuck with it through the ups and downs until the spread for GBPJPY skyrocketed to 14 pips for an extended period. Oh, the memories!
Presently, GBPJPY finds itself in a captivating sideways movement, offering ample opportunities for those employing the support and resistance trading strategy. It's a perfect scenario for executing the age-old principle of buying low and selling high, or even exploring the realm of harmonic patterns.
Personally, I'm eagerly awaiting the completion of a bearish shark pattern at 173.23, signaling a potential shorting opportunity that aligns with my analysis.
Alternatively, you can choose to navigate the daily chart's defined zone, indicated by the red resistance line at 172.05 and the blue support line at 167.48. Within this trading range lies an enticing profit potential of 457 pips just waiting to be tapped into.
Join me as we delve into the timeless allure of GBPJPY and unleash the vast possibilities it holds for traders like us.
It's NO SECRET, I'm shorting AdidasIt's no secret that I've been looking to short Adidas for weeks before the Bearish Bat Pattern show up.
As a trader, I love to wait for the precise price with candlesticks confirmation before engaging my trade; hence I miss the first opportunity.
And that's ok!
In trading, I have this philosophy that is better to miss a trade than to engage in a trade at a price of disadvantage.
So here I am, trading for the past 18 years.
At this moment, I'm waiting for the Bearish Shark Pattern to form up on the 8 range bar chart to give me a second chance entry to get on this ride.
Counter trend Opportunity 5min chart.Gold broke down to a Low on the 4H however it didn't confirm the break with a new bearish candle but rather an indecision candle followed by a bullish engulfing. This counter trend setup is based on a false break. the 1h TDI is still bearish. This setup is based on the 30min and 5min already up trending. This is attempting to buy the pullback.
$BTCUSD counter trend structure completion in next few daysNOT FINANCIAL ADVICE
Structure is forming a very nice counter trending zigzag (5-3-5) formation; wave (4) aka waves ABC.
Currently wave C underway, and we're expecting further impulsive waves to the downside, coupled with some strong divergence signal.
If signal is found AND price touches the region between $25.8k to $26.2k, then we can safely say waves ABC, aka wave (4) achieved.
Until then, we play the waiting game and continue to be patient.
This publish is an update to this previous publish that promoted the rally as a bear-market-rally:
How to Trade the Dollar Both WaysUS Dollar has been in focus recently due to several factors such as debt limit concerns and bank failures. However, my analysis indicates that the Dollar is still bullish and I'm looking for a buying opportunity at 133.75, provided that the support level holds.
For those who are seeking shorting opportunities, the red trendline could be a potential entry point. As long as the structure remains unbroken, a shorting trade could be considered, with the first target at 133.75.
Whether you're bullish or bearish on the Dollar, there are opportunities to trade it both ways. Stay tuned for further updates