OMG! Did I miss a trade?OMG! I was doing a qualifying call, and I might have missed the trade! And this is why I don't usually trade off the 15-minutes chart.
From my experience, this trade is gone, but a retest on 128.98 happens; it is a great second-chance entry.
2 Economic Data to take note
On 18Jan23(GMT+8)
Tentative(usually before 3pm)
JPY - BOJ Outlook Report
JPY - Monetary Policy Statement
JPY - BOJ Press Conference
9.30pm(GMT+8)
US Core Retail Sales
US PPI
In any case, by the time the economic data is released, you should have achieved Target1 Profits.
Countertrend
EURAUD 4HR/1HR - PULLBACK & STRUCTURE TRADEIn today's video we're taking a look at a trend continuation trade on the EURAUD that is more similar to a countertrend trade. I'll take you through the top down analysis as well as walk you through different entry & exit techniques that you can take.
Hope you guys have a great week of trading & as always if you have any questions or comments, please leave them below.
Akil
energy in a pickleno really, this thing is set to roar. big rigs, big pigs, young hogs and motor fog. letterr rrrrrrip! were down near the bottom of the envelope, were way oversold, and the sectir is acting defensively in rotation with a bear market. id like to revisit the top of this rectangle and then dump again 🤷
Trade Idea ES Long
As we are trading above the Main Poc 3858 and if we can keep the BID above this level and hold, we can have a second day run to the upside by EOD or tomorrow.
it's a counter trend play, R:R is great, but trick and dangerous ! #tradeSmall
Macro Bearish, but we can always play those short term bull.
EURUSD - Trendline BreakThis was the trendline I was talking about on the chart link below. A break and close below this trendline would be the most aggressive setup for traders looking for a counter-trend trading setup.
For me, it's it depends. I will observe how the candlestick close, and sometimes I will wait for the retest of the trendline before heading in for a shorting opportunity.
GBPUSD-Weekly Market Analysis-Dec22,Wk3On the Weekly Chart, the candlestick paused and reversed on the Key Resistance Level, and because of that, I have a Bearish bias on the GBPUSD trade.
Two levels of trading opportunity present themselves on the 1-hourly chart.
Structure-based setup, where the resistance level sits at 1.2222 or a Bearish Shark Pattern trading setup that completes at 1.2329.
EURUSD-Weekly Market Analysis-Dec22,Wk3EURUSD is on a Bullish Trend. However, I am waiting for a counter-trend trading approach. I've two ways of engaging the trade.
The first way is to wait for candlestick confirmation and take the trade based on the Weekly Chart's Key Resistance Level in combination with a Bearish Crab Patterns trading setup, a more aggressive approach is to wait for a break and close below the trendline on the 4-hourly chart to engage the trade. So let me know if you need the analysis on this.
USDJPY-Weekly Market Analysis-Dec22,Wk2I remain bullish bias on the USDJPY, but I can still look for a counter-trend move for the time being. At 136.67, it gives me a shorting opportunity potential, so long the market doesn't break and close above 136.88, I will be looking for a shorting opportunity when the market opens.
EURUSD-Weekly Market Analysis-Dec22,Wk2The Overall Trend of EURUSD is a Bullish Trend. There are a couple of ways you can engage in this trade.
Wait for market retest at 5-0Pattern at 1.0515 for a buying opportunity or a shorting opportunity at 1.0581 by using the Type2 Bearish Shark Pattern as a counter-trend trade that could form a combo trade with EURUSD Bearish Crab Pattern on the Daily Chart.
EURJPY - Key Resistance levelI like to make it clear over here. EURJPY on the Weekly Chart, Daily Chart and 4-hourly Chart shows a bullish trend setup. However, I'm waiting for a shorting opportunity at the retest of the key resistance level at 141.91. This analysis will stand for me if the market doesn't break and close above 142.18.
GBPUSD-Weekly Market Analysis-Dec22,Wk1The simplest-looking analysis often is the toughest to plot. I'm waiting for shorting opportunity as early as the market open.
One thing to take note, make sure the market didn't gap up and close higher than 1.2311 for this to be a valid trading idea.
An RSI Divergence did help to give me the push to look for a shorting opportunity on the 1-hourly chart that coincides with the Daily Chart key resistance level.
EURUSD-Weekly Market Analysis-Dec22,Wk1If you missed the trade ideas of EURUSD on Friday, this might give you a 2nd chance to engage in the trade. With that said, do your market analysis and not follow blindly.
What's nice about this trading setup, the three primary timeframes I'm looking at has all the bearish trading setup I need.
Daily Chart - Bearish Crab setup
4-hourly Chart- Ascending Channel with RSI Divergence on overbought region
1-hourly Chart, Bearish Shark Pattern retest
EURUSD - Bearish SharkFinally, a bearish shark pattern qualifies as a shorting opportunity. It has been a long waiting opportunity for this shark pattern trading setup.
As you know or may not know that Shark Pattern can have as many as three different trading zones.
What is needed is patience; failure to do that results in the loss of profits from trying to capture it and losing confidence to trade the next trading setup.