SHORT XAUUSD (GOLD)short opportunity presenting itself on gold after some stop hunting earlier in the week. a close below the double top which has formed will present a short opportunity down to 1112.00 with nice risk reward
Fibextension
EURUSD possible pullback area in bearish trendBearish EURUSD broke through a 1.272% Fib extension area around 1.0599. Next area of significance is 1.618% Fib extension area around 1.0455.
AUDUSD high probability shortHi traders,
On the AUDUSD daily chart I'm looking for some bearish action around the 0.78 area. We can see that price hasn't reached the 127.2% Fibonacci extensions yet, so I expect price to go there soon and then turn bearish.
We can see two AB=CD patterns and three 127.2% Fibonacci extensions and previous high clustered at the same area. There is also a 38.2% Fibonacci retracement of the major move . This is the reason the amount of pips for the stoploss is pretty big. This indicates a high probability of rejection off that area.
Entry: 0.77906
Stop: 0.79354
Target: 0.73573 = R:RR 2.99
Best of luck! I will update all my posts of anything interesting happens.
GBPAUD: CYPHER PATTERNSHey Trader,
Hope you're having a positive trading week so far.
We have both Bullish and Bearish Cypher patterns on GBPAUD.
Trade details:
Bearish Cypher (on chart in red)
Entry: 1.76900
Stop: 1.78020
Target 1: 1.75700
Target 2: 1.74930
Bullish Cypher (on chart in purple)
Entry: 1.74330
Stop: 1.73520
Target 1: 1.75220
Target 2: 1.75810
Good trading,
Luke
NZDUSD - Top of the ascending triangle...Elliot impulse wave counts tells us a 5th and final leg is expected next after a completion of wave 4 shown by a rejection at the 123.60 fib extension level. We have a good confluence of a trendline and a strong level of resistance to short this pair so look to open shorts as per your own entry criteria.
LONG CHANCE FOR USOILAB 1.618 Extension and AB=CD
Strong left structure
Observe the bullish price action when it retrace 42.48.
There is chance to LONG USOIL at this support level.
Stop loss is below 40.90, maybe 40.70.
Target point is 51.00
-------------------------------------------------------------------------------------------------------------------
You can also SHORT USOIL with light position at 46.18 since it is the 1.27 Extension of AB
STOP LOSS is 46.9
Target Point is 42.48
AUDUSD: Selling Opportunity (H1)Hi Trader,
Thanks for checking out this trade idea. Appreciate the thumbs up!
This is highly correlated with the GBPAUD trade I just posted. It is the exact inverse of that trade setup.
See chart for entry and exit levels.
If you don't have a trading plan, please get one. The biggest help to my trading was when I REMOVED ambiguity in my decision making.
Good trading,
Luke
GBPAUD: Buying Opportunity (H1)Hi Trader,
Thanks for checking out this trade idea. I appreciate the thumbs up!
Here we have a valid 2618 trade setup on the Pound/Aussie. See chart for entry and exit points.
As I have noted on the chart this is a double bottom, I am therefore looking for a pullback to the 61.8% for a buying opportunity. I trade the 2618 aggressively, as such my orders are already placed. Remember, trade your plan, and if you don't have one, fix that today :).
Wishing you good trading,
Luke
EUR/USD BAT PATTERN "PLUS" SHORT OPPORTUNITYHi, guys.
In this great trading opportunity I would like to share you my CTS. Hopefully this can give you a valuable insight and help you to add some more considerations to your trade plan.
CTS :
1. Bat Pattern Completion (4 Pts)
2. ABCD Pattern Completion (2 Pts)
3. HT Resistance Zone (2 Pts)
4. 1.382 Fib Extension (1 Pts)
5. RSI Overbought (1 Pts)
Total : 10 Pts
That was enough for me to take the trade (above 6 Pts). I decided to Take Profit at 1.11731 right at struce, and put my SL above the HT Resitance Zone at 1.15126.
What do you think guys?
Feel free to show your interest and comment to share your thougts, really appreciate it.
EURGBP Long SetupIdea is based on Elliot wave theory combined with RSI and Stochs for wave confirmation. More information on the chart. Good luck
USD/JPY BEAUTIFUL LONG OPORTUNITYFLAG PATTERN BREAKOUT. STOCHASTIC ALREADY OVERBOUGHT INDICATING A LITLLE RETRACEMENT IS POSSIBLE, WAIT FOR THE PRICE RETRACES TO H. SUPPORT. GO LONG. AND THEN TAKE PROFIT AT FLAG TARGET THAT COMES IN CONJUNGTION WITH THE 1,27 EXTENSION AND D POINT OF THE ABCD PATTERN. (WHICH MEANS THAT COULD ALSO BE POSSIBLE SHORT OPPORTUNITY, IF YOU'RE AN AGRESSIVE COUNTER TREND TRADER)
