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Pending_order

USDJPY - 5/1 Risk Reward setup - 240PIPSWe all love a pending order where we can set, forget and collect. Set the order - Pending buy @ 107.700 - Stop Loss @ 107.200 - Take Profit @ 110.00 Forget - We can leave and forget our pending buy with some confidence due to the quality of the setup. This is a straight forward Fibonacci setup on a high timeframe, using a high timeframe adds weight to the price action described below. - We can safely assume that the two significant levels required to draw a Fibonacci line have been printed... the low of 106.500 and the high of 109.500. I have the confidence to call the top because of a significant pullback. - The 38.20% Fibonacci retracement leg has already been fulfilled on the 14th @ 1400hrs. Following this, we haven't seen any bullish momentum build to take price to new highs. So its likely that there is still significant selling taking place or there is not sufficient bullish mood to drive the dollar higher just yet. - This all means that the next calling point is likely to be the 61.80% Fibonacci retracement. (This will be our entry point.) with stops places below 71.00% Fibonacci Retracement. Collect - With patience we will look to collect our profits on the first Fibonacci extension. - With good risk management trading a small lot size you can risk less than 2% of your account (1.8% in my case), and look to collect over 8%! Remember that profitable forex traders on average only collect 20%-30% profit per year and this setup offers more than 25% of that in one trade. For more setups like this one. Follow my new telegram channel t.me/smartmoneytrades. I have 11/14 trades profitable in the past two weeks, and over 16% account profit in that time. Let me know your thoughts in the comments, even if you disagree.
Long
by JoelWarby
USD/Zar Short Pending Order !!Hi All , I've a pending order on USD/ZAR to short it . As you can see price has been rejected from recent highs , and trend is bearish . Aggressive entry will be current price , but caution here , as i want to see if price breaks through and close with a bearish candle on H4 before shorting . Otherwise will join the trend when i see a clear rejection in H2 and a bearish candle. My contents are 100% free . For Donations paypal.me/chartbychart. I appreciate your donations. You can All follow me on Instagram ; @chartbychart_Mentoring
Short
by creamygem
1
GBPUSD - Wait before buying !(Favorite) We might be in orange wave ((c)) of pink Y of green (B). Therefore, I'm looking for price to make a new low beneath 1.2662 around the 1.2630 - 1.2500 zone before rallying up for wave (C). In this case we would be in an Expanded Flat, where wave B should ideally turn before the 138.2% Retracement wich is @ 1.1420. (Alternative) The alternate count suggests we are in a Triangle pattern and price will go up for a wave D then lower for wave E before going up again for wave (C). This count gets negate if price move below 1.2696 (wave A) In both cases, we expect higher prices. The question is will this rally to the upside come now or from some lower levels ?
Long
by ElliottWaveBelgium
4
EURGBP - Wait for pullback to end before buying I think we finished a large ABCDE Triangle at 0.8655 This move higher therefore should be wave 1 of an impulsive wave. We are nearing it's termination point as we can count 4 waves already and making wave ((v)) as an ending diagonal it seems. This means, once this larger wave 1 ends, we will see price pullback in a 3waves move lower, ideally to the 0.618 Retracement level before going up higher for wave 3. Trade Setup : * Entry : Pending around 0.8759 - 0.8713 * Stop : 0.8654 * Target 1: 0.9024 * Target 2 : 0.9098 * Target 3 : 0.9190
Long
by ElliottWaveBelgium
AUDCAD - Wait for pullback before buying !Wait for pullback before buying ! Price is in the termination point of black wave ((3)) We can count the Subwaves and expect blue wave (v) to end now or a bit higher at 0.9731 (0.618 Extension) Notice the divergence also. In any case, this is not the time to go long but to start taking your profits if you have bought earlier. Trade Setup : * Entry : Pending @ 9472 (0.382 Retracement) * Stop : 1pip below wave black wave ((1)) high * Target : to be determined (somewhere between 0.67 to 0.68)
Long
by ElliottWaveBelgium
AUDUSD - Wait for pullback before buying (or short it)Wait for pullback before buying ! Price is finishing a 5waves move up, so, now should make a 3waves move lower. Each of the moves lower are composed as 5-3-5, as drawn in blue. Alternate count suggests we are in a Expanded Flat, in wave ((b)) wich, ideally, should not go above 0.7356 (1.382 Retracement) and preparing for ((c)) lower. Trade Setup for first count : * Entry : Wait for pullback to 0.618 Retracement. * Stop : last low. * Target : to be determined (around 0.74 to 0.75)
Long
by ElliottWaveBelgium
1
GBP/USD Gartley PatternAlmost text book Gartley Pattern setup. I will wait for monday to possibly create a lower high and maybe an M in London. I will be setting a pending order at the .618 retracement and set an 80 pip stop loss. I will not be taking a huge position in case I am wrong. I do not want to lose all my capital. I will roll my stops IF the market begins to fall in my favor, I will eventually move stops to break even. I will set my TP a little bit before the full D extension in order to not get tricked out. We shall see what the week brings, but I will not be entering this trade until I see a .618 retracement. Best of Luck -The Market Vampire
by FXVampire
1
Long AUD/USDIdentified a Bullish Candle Crossover at the 100 and 10 SMA. Setup a Pending Buy order and waiting for it to be hit or to cancel it before it's hit if there is a bearish signal. Once hit I will be monitoring it for any Bearish signals to close the trade early and minimize losses. And also if the trade goes in my favor, I have certain levels to ensure that I manage to lock in profits and not lose the entire trade in any sudden reversals in the market. Entry : 0.74697 Stop-Loss : 0.73828 Take Profit : 0.76972 If you're wondering why I have a 100 SMA and not 200 SMA like my previous Publish. As on my actual charts I have 4 SMA in total. 10,50,100 and 200. And I screen the market at hourly and 4 hourly time frames. I use Fibonacci Levels to set my Stop-loss and Take Profits.
Long
by HillDo100