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GBPAUD 60 DOUBLE TOP 2618Hi guys, Here, I am looking for a reversal. The market was in a nice bullish move early last week but started consolidating towards the end of the week plus this double top has now occurred. There is already a break at the bottom of the double top so I am now looking for a pullback at the 61.8 retracement level to give myself that extra bit of confirmation. I will have a sell limit in place at that level. This trade is known as the 2618 trade. My stop loss will go above the double top and that level has also held good resistance in the past. My first target will be at the low of the break and my second target will be at the next support/resistance level. IF the first target is hit, I will take off half of the position and move the stop loss to break-even for the second half of the trade, ensuring a risk-free trade. Thank you for your support. Trade Numbers: Risk: 63 pips x 2 = 126 pips Reward #1: 65 pips. R:R = 1:1 Reward #2: 92 pips. R;R = 1:1.5
Short
by Krunal.Patel
AUDUSD 15 Bearish BAT PATTERN @ 0.7640Hi guys, I thought I would share a pattern I am most fond of, the BAT pattern. I admire this setup because it mainly follows the overall trend and takes into account major support and resistance levels. As a strong believer in economics and harmonics, I believe this pattern gives 2 things which most traders strive for: 1) Good risk-to-reward and 2) Good win percentage %. Back to the trade idea, it is a bearish BAT pattern @ 0.7640 in which i would have a sell limit in place and stop loss will be placed above the X leg which we use as good resistance in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade. Thank you for your support. Trade Numbers: Risk: 15 pips x 2 = 30 pips Reward #1: 20 pips. R:R = 1:1.4 Reward #2: 32 pips. R:R = 1:2.2 Plan your trade... Trade your plan.
Short
by Krunal.Patel
XAUUSD: BEARISH GARTLEY + BEARISH BAT PATTERNS ON 4 HR !!!Hello Traders, We just got the completion of a bearish gartley pattern, with a really low risk and high reward, since the market has gone beyond the completion point of 127.2% Fib extension level. The trade is active now. I would prefer to get out of this setup before getting into the bearish bat pattern shot, which is also about to be completed. You can decide for yourself whether you want to hold 4 short positions on FX:XAUUSD or 2. Notice that the market has been ranging for quite some time, thus there is a chance that these patterns might work in our favour. See the chart above for targets and stops for both bearish patterns. That’s all I would like to cover for this trade setup. If you guys have any questions or comments about this trade, feel free to write in the comment section located under this description section. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. All The Best :) Follow me on Twitter as well: moneymaking2016
FX:XAUUSDShort
by moneymaking
11
XAUUSD: 2 BULLISH HARMONIC PATTERNS COMPLETING IN PRZs !!!Hello Traders, Good to be back after a while. Looking at gold here and we are seeing 2 really well defined bullish harmonic patterns formed right near the previous structure support. First, we have the bullish Cypher pattern , which is very close to being complete. Notice that the D leg is below the B point, which keeps the pattern valid. Second, we have the bullish crab pattern , which completes a bit further away from the Cypher pattern, thus giving us even a better risk to reward ratio. We also have harmonic ABCD move completing very close to the Cypher completion point (78.6%). The stop level is the same for both harmonic patterns, but it is not a fixed one for you guys. It might be too tight of a stop for some or too large for others. So, feel free to move the stop loss level based on your personal risk appetite. All the targets are color coded for both patterns. See the chart above for more details. Make sure to always focus on the risk that you are willing to take, rather than the reward, it really makes a huge difference in your trading performance and especially in your trading psychology. That’s all I would like to cover for this trade setup. If you guys have any questions or comments about this trade, feel free to write in the comment section located under this description section. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. All The Best :) Follow me on Twitter as well: moneymaking2016
FX:XAUUSDLong
by moneymaking
6
NZDCAD: BEARISH CYPHER & DESCENDING TRIANGLE PATTERNS !!!Hello Traders, We recently just got the completion of a bearish Cypher pattern within the consolidation range, which is in the form of a descending triangle. We are getting a better price on the Cypher pattern with reduced risk, which is always good. So the Cypher pattern short trade setup is active now. Also notice that we just got a strong bullish breakout out of the descending triangle that we have been ranging in for the past 14 days. But we need to wait for additional confirmation in order to make sure, that this is NOT a false breakout. If the market can stay above the triangle for good amount of time without falling right back into the ranging triangle, then we can look to trade the breakout long triangle pattern. Notice that the entry of the triangle pattern is within the ranging triangle, so I am expecting some type of pin bar reaction as the market comes back to re-test the breakout level. Thus I am only expecting target #1 of Cypher pattern to be completed before switching to a long position, unless price action gives us some other clues to stay with the Cypher trade. Risk to reward on both patterns is very reasonable, but it can be adjusted based on your own risk tolerance. All targets for both patterns have been labelled on the chart above. Make sure to always focus on the risk that you are willing to take, rather than the reward, it really makes a huge difference in your trading performance and especially in your trading psychology. That’s all I would like to cover for this trade setup. If you guys have any questions or comments about this trade, feel free to write in the comment section located under this description section. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. All The Best :) Follow me on Twitter as well: moneymaking2016 NOTE: The overall major trend is still to the downside, thus I am NOT expecting the long trade setup to be like a home run type of trade, that you can stick with for long period of time. HAPPY GOOD FRIDAY TO EVERYONE IN ADVANCE, ENJOY THE LONG WEEKEND !!!
Short
by moneymaking
AUDNZD: COMPLETION OF BEARISH GARTLEY WITH ABCD HARMONIC MOVE !!Hello Traders, Here we got a really deep completion on bearish gartley pattern with ABCD harmonic move (in cyan colour) on FX:AUDNZD , providing us with great risk to reward. The average true range for this pair on 4 hour time frame is about 50 pips but that puts us at 1.0990 level from our entry point, 10 pips under the round number. Thus better to place the stop loss above the strong psychological round number of 1.1000 . Stops and targets are labelled on the chart above. That’s all I would like to cover for this trade setup. If you guys have any questions or comments about this trade, feel free to write in the comment section located under this description section. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. All The Best :) Follow me on Twitter3.87% as well: moneymaking2016
Short
by moneymaking
AUDNZD: POTENTIAL BUYING OPPORTUNITY WITH LOW RISK HIGH REWARD!!Hello Traders, This is a very simple price action based long trade setup on FX:AUDNZD . After reading the price chart, we see the market is in trending mode and currently we are seeing a retracement back into previous structure support (HL). With market coming closer to the previous higher low (HL), this reduces our risk on this trade quiet significantly. Right now we are about finish the AB=CD correction, which completes right within the Fibs cluster zone (green box). I was able to come up with this cluster zone by drawing out Fibonacci retracements, extensions, and inversions from previous market swings. The stop loss has to go below the previous high low but it also has to be far enough in order to give the trade some breathing room and at the same time not taking huge amount of risk. Taking into account the average true range (ATR= 14 period) based on the 4 hour time frame, this pair moves roughly about 45 pips on average. Thus adding few extra pips to the ATR, we get our stop loss level for this setup at 1.0665 level. Both targets for this setup are structure based, meaning looking back at previous price level that may have acted as strong resistance levels. Thus I saw two clear resistance levels at which it seems reasonable to take some profit off the table, one is at 1.08219 level and the other is at 1.08688 level. See the chart above for more details. That’s all I would like to cover for this trade setup. If you guys have any questions or comments about this trade, feel free to write in the comment section located under this description section. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. All The Best :) Follow me on Twitter as well: moneymaking2016
Long
by moneymaking
14
USDJPY: BEARISH BAT PATTERN + 3 DRIVE PATTERN @ PRZ !!!Hello Traders, Here we have a really good trade setup on USDJPY , which includes a bearish bat pattern and a 3 drive pattern (blue in color), right at potential reversal zone (PRZ) which consists of several Fibonacci retracements and extensions. 115.18 level (X point of bat pattern) is a strong resistance level which has been tested several times (marked by red arrows). But we would need to place our stop loss above the previous structure low high. Targets and stops are labelled on the chart above. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :) Follow me on Twitter10.97% as well: moneymaking2016
Short
by moneymaking
4
NZDCAD: BULLISH CYPHER PATTERN COMPLETED ON 4 HR !!!Hello Traders, We have gotten a completion of a bullish cypher pattern on this pair. Stops go under the key round number of 0.9000. I was able to get a little bit (about 12 pips lower) better entry point, which is why the labelling of the entry point is bit below the 78.6% level. See the chart above for more details. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :) Follow me on Twitter10.97% as well: moneymaking2016
Long
by moneymaking
2
AUDUSD: BULLISH GARTLEY + BAT PATTERNS + ABCD MOVE !!!Hello Traders, Here we have 2 bullish patterns, one is bullish gartley and other on is bullish bat pattern, on FX:AUDUSD . Note that the patterns have NOT completed yet. Just wanted to give you guys early heads up, so that you can create a plan for trading these setups. We also have harmonic ABCD move completing right at gartley's completion point. This pair is still in it corrective structure after putting in a lower low lower close below previous structure support (previous higher low). Stops and targets are labelled on the chart above. That’s all I would like to cover for this trade setup. If you guys have any questions or comments about this trade, feel free to write in the comment section located under this description section. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. All The Best :) Follow me on Twitter as well: moneymaking2016
Long
by moneymaking
2
EURGBP: ONE OF TWO ABCD PATTERNS COMPLETED @ PRZ !!!Hello Traders, We have got another very good setup on EURGBP , which is same as the EURUSD long trade setup. We completed at least 1 of the 2 patterns completed at PRZ. Notice the bullish RSI divergence as well. This pair correlates quiet well with EURUSD , so better to spread out your risk. Structure based targets are labelled above, stops is very tight since the market is so close to the previous structure level (higher low). See the chart above for more details. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :) Follow me on Twitter10.97% as well: moneymaking2016
Long
by moneymaking
6
GBPAUD: VALID BEARISH CYPHER PATTERN WITH GOOD RISK TO REWARD!!!Hello Traders, Here we have a valid bearish cypher pattern on FX:GBPAUD , that is coming close to its completion point. After adding few Fibonacci extensions and inversions, I was able to obtain 3 Fibonacci confluence zones and all of them are located between our short entry (1st zone from the bottom) and the X point of the cypher pattern. Also note we have a really nice bearish pin bar right at the X point. Thus we might see the market come back up near the bearish pin bar and so our stops need to go above that pin bar. So we got 3 different Fibonacci confluence zones + the bearish pin bar, if the market is able to go through all these "potential" resistance levels than we better make sure to exit with a small loss. See the chart above for more information. Trade Summary: Short Entry Level: 2.0600 (psychological round number) Stop level: 2.07956 (risking 0.94% of total equity) Target #1: 2.03698 (potential return of 1.12%) Target #2: 2.02272 (potential return of 1.82%) HIGH IMPACT NEWS EVENT: Got "Services PMI" number coming out tomorrow early morning from GBP @ 4:30 AM. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :) Follow me on Twitter as well: moneymaking2016
Short
by moneymaking
2
XAUUSD: VALID BEARISH CYPHER PATTERN WITH MEASURED AB=CD MOVE!!!Hello Traders, Looking at FX:XAUUSD on 4 hour, we see a valid Bearish Cypher Pattern that has already been completed, with the market currently at the entry point (78.6% Fib level). We also got a measured AB=CD move BUT not a harmonic move, since we never retraced back down to the 61.8% Fib level of AB leg. It would be better to take the partial profits at the 50 MA (magenta line) since market respects this MA quiet well and we don't want to give back all the profit we have made just for few pips. Thus consider taking half of the profits at the 50 MA instead of 38.2% Fib level. Secondly, the stop loss is placed couple of pips above the X point BUT keep in mind that it is not above the highest high (marked by the blue rectangle on the chart above). The reason being that the risk to reward becomes quiet unfavourable if we were to place stops above that highest high, so do keep that in mind. KEY NOTE: Since the D point never closed above the X point, the cypher pattern is still VALID. Our short entry would still be at the 78.6% Fib retracement level. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :) Follow me on Twitter-0.04% as well: moneymaking2016
FX:XAUUSDShort
by moneymaking
3
GBPJPY: BUYING OPPORTUNITY AT CRITICAL SUPPORT LEVEL ON DAILY !!Hello Traders, This is a simple price action based long trade setup in FX:GBPJPY on daily time frame. As we can see the 184.230 level has been tested and respected by the market on several occasions (marked by blue boxes). The amount of re-tests this level has gone through signifies the importance of this level. Thus after getting today’s daily candle close back above this critical level, signals the presence of buyers at this level. Buying at this level allows us to keep our risk at minimum, while targeting for larger profits; which is twice as much for the first target. Below you see the whole summary of the trade setup, which is also illustrated on the chart above. Long Trade Setup Summary: Entry: Buy Limit @ 184.230 Stop loss: 183.40 (36 pips below today’s daily candle lows) Target #1 : 185.911 (closing price of recent high candle) Target #2 : 186.991 (127.2% Fib extension level from recent lows to recent highs) Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :) Follow me on Twitter2.17% as well: moneymaking2016
Long
by moneymaking
2