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Highprobability

The end is coming John Snow! Or is it here already?Looking at the daily we see the the major swing highs come at the same price levels whereas the major swing lows are coming higher forming some kind of triangly. The firs swing low went as low as 88.6% of the the upmove. The second swing low is now resting at support at the 78.6% of the consecutive upmove. Price might bounce of here already however if it continues falling it may run into a stronger support of: ABCD (1.27% extention of AB) Major Swing Low Support Outer Uptrendline Same Fibonacci Retracement level 88.6% as previousely respected Ideally I'll be looking for the RSI to break out of the trendline, previousely being oversold and left oversold + Candlestick or simple price pattern on lower timeframe. As this is a countertrend trade and the USD is sold off heavily at the moment by hedge funds I would not shoot for a very large target. Try betwee 1,5 & 2.5 - Reward for 1 Risk
Long
by LorbeerInv
Full outlook. Elliot wave & other technicals analysesLooks like price is about to complete an Elliot-Wave #5 before it might reverse into a 3 wave downtrend move. The 1.3250's look like a decent area of multiple resistance for countertrend traders to take short entries. Break down of the 1.3250: *Uptrend channel - Price first overshot the channel then undershot. Which leads to the believe of a weakening of the uptrend. *Projection of 100% of wave 1 & wave 3 end in this price area *Other Fibonacci extension levels that typically act as R&S cluster around this area The more traders you have on your side the higher is your POP, Probability of Profit Paired with a Risk to Reward of 1 to 2 or even 3 makes it a valid trading opportunity. *Disclaimer: Reference is made to the disclaimer under lorbeerinvesmtent.com Please apply risk management before taking action upon a tip.
Short
by LorbeerInv
Daily Bat Pattern with H & S Support at previous structure!Hey folks, I've found a bullish Bat Pattern on AUDNZD Daily Timeframe. I do not trade based of the daily timeframe but thought this one might be interesting to share with you guys. There is also a potential Head and Shoulders Formation which makes it even more interesting. If we break the neckline of the H&S then there are potentially more traders looking to go long this pair. As always, Trade your plan! Cheers, Felix
Long
by WirmachenTrader
1
Multiple Argument short entryPrice started to form what could become a H&S - Pricepattern On the 60M we see that the second Shoulder comes in form of Double Top. Not yet confirmed since the SwingLow of the DT is not yet broken but price gave us a CandlestickPattern on the second top. Since we are at major Resitance of higher timeframes I see an edge on the trading diection => short wich could complete the H&S and then privde further opportunity. 1. Short on speculating on a neck break of the H&S 2. Long on candlestick pattern at Support on the 60M, speculating that price bounces back to the neck line 3. Short again on the neck line speculating on a continued trend 4. Second short entry possibility on ShouldersRessitance
Short
by LorbeerInv
[Tips] High-Probability Trade with Fibonacci Retracement How To Use Fibonacci Retracement to find High-Probability Trade Setup Brief Definition: Fibonacci retracement is a very popular tool among technical traders and is based on the key numbers identified by mathematician Leonardo Fibonacci in the thirteenth century. In technical analysis, Fibonacci retracement is created by taking two extreme points (usually a major High and Low) on a chart and dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8%, 78.6%, and 100%. Once these levels are identified, horizontal lines are drawn and used to identify possible support and resistance levels. These ratios seem to play an important role in the financial market and can be used to determine critical points that cause price to reverse. The direction of the prior trend is likely to continue once the price has retraced to one of the ratios listed above. Tips for Effective Setup: 1. Analyze the general overview (big picture) of price movement to the current trend. In the above example, blue vertical line divides chart into 2 section, Downtrend on the left and Uptrend on the right. We can use MA200 to identify the overall trend. 2. Look at the price movement carefully and then draw Fibo Ret from the extreme pivot points. For Downtrend, drag 100% level from previous High to 0% level at the newly formed Low. For Uptrend, drag 100% level from previous Low to 0% level at the newly formed High. 3. Pay attention to the price movement to the opposite direction of the general trend. Wait for any price rejection to the same direction with the general trend at one of the Fibo Ret level. Entry zone which quite popular are 38.2%, 50%, and 61.8% level. 4. Probability of success will increased if price rejection occurs at the confluence of Support and Resistance levels. ie. confluence of one Fibo Ret level with Support / Resistance area, Trendline, or Chart Pattern. The point is, more confluences are taking places, probability of success for price rejection at Fibo Ret level is higher. Few Examples: Example 1 - 3 for Downtrend case (MA200 sloping down) Example 4 - 5 for Uptrend case (MA200 sloping up) 1. (Normal Retracement) Price reversed to the opposite direction of the trend and rejected down from around Fibo Ret 50%. The downtrend continuation after price rejection tend to be normal and not too deep. 2. (Higher Probability Retracement) Price reversed to the opposite direction of the trend and rejected down from the confluence of 2 resistance: Fibo Ret 23.6% and Resistance Area 110.648-110.771. The downtrend continuation after price rejection tend to be quite deep. 3. (Highest Probability Retracement) Price reversed to the opposite direction of the trend and rejected down from the confluence of 3 resistance: Fibo Ret 61.8%, Major Down Trendline (diagonal red line), and Resistance Area 110.275-110.346. The downtrend continuation after price rejection tend to be very deep. 4. (Higher Probability Retracement) Price reversed to the opposite direction of the trend and rejected up from the confluence of 2 support: Fibo Ret 38.2% and Support Area 110.648-110.771. The uptrend continuation after price rejection tend to be quite high. 5. (Normal Retracement) Price reversed to the opposite direction of the trend and rejected up from around Fibo Ret 61.8%. The uptrend continuation after price rejection tend to be normal and not too high. Happy Trading...
Education
by arieg1985
1
Couple of scenarios for next weekI don´t like waiting until the market provides me with a 100% copy of the perfect backtested super precise entry set up. Trading is not like fast food chain restaurant food, yu cannot always expect the same thing. While there is nothing new under the sun, price action and techncial reading of this price movement is more or less accurate. The more languages you understand the better your understanding of the overall human culture. If this makes sense?
by LorbeerInv