Sellzone
Trade Ideas Educator: GBPAUD BatA bearish bat as a countertrend trade within the double sell zone with an RSI Divergence made it even better.
This reminds me of the good old day where both my AUDUSD and NZDUSD have RSI Divergence, AUDUSD within the sell zone but NZDUSD broke the sell zone.
At that moment I have gotten myself mentally prepared that 1 will hit profit and another most likely a losses. But guess I was wrong and I'm happy that I am both hit profits.
Let's see how this baby roll out.
Trade Ideas Position: GBPAUD BatA bearish bat pattern shows up in GBPAUD 4-hourly chart. It is a type 2 retest of the bat pattern with RSI Divergence, not to mention it trial near to the previous sell zone.
Great consideration for countertrend trade especially for traders who had missed the previous entry opportunity.
Trade Ideas Educator: USDCAD H&SA Head and Shoulders formation forms up and traded lower within the support and resistance area. If the market retraces back into the sell zone, which in this case the right shoulder it will produce a great selling opportunity.
This will all be valid if the market didn't reach 1.3255 before having the retracement back to the sell zone.
If all fails we still have the classic support and resistance trade.
GBPUSD-Weekly Market Analysis-Aug19,Wk4On the 4-hourly chart(right), the market has retraced back into the sell zone for a trend trading opportunity.
On the 1-hourly chart(left), just right before the market head to the sell zone the bullish flag patterned was identified as a counter-trend trading opportunity and I had shared on the previous post, is a pity if you have missed the trading idea.
I've already engaged this trade as the bearish bat form and triggered the opportunity to trade.
No double when the prices went higher after the trade was triggered definitely not my liking, but if you have spotted the RSI Divergence or you know the profitability rate of the bat pattern, it will be a peace of mind.
EURUSD-Weekly Market Analysis-Aug19,Wk4A bearish shark trading opportunity on the daily chart(right) as a trend trading setup. If you are not looking at the shark pattern, you can check on the lower timeframe, the 4-hourly chart(left).
The red box sell zone is the same sell zone you are looking at on the daily chart(right), you can definitely look for a retracement into the sell zone or wait for a harmonic patterns setup.
Trade Ideas Educator: NZDUSD SharkA bullish shark pattern that needed more confirmation and thing through that should it be engaged?
Sell Zone is near, if the candlewick touches the tip of the sell zone, I will be more reluctant to engage in this bullish shark setup.
Have you spotted that? If you don't perhaps more practice on charting is good then to jump right in.
GBPUSD-Weekly Market Analysis-Aug19,Wk3A long waited for counter-trend trading opportunity appears as Bullish Shark pattern. So what? I shouted on the chart. ;P Lots of warning sign shows up and halt my decision to set a pending order - Buy Limit for this trade. Now, having the candle break and close below the previous low, officially place this trade to an end.
On the 4-hourly chart(left), a trend trading opportunity setup, I will be waiting for the market to retrace back into the sell zone and most likely to spot a harmonic pattern on the smaller timeframe, 1-hourly chart.
EURUSD-Weekly Market Analysis-Aug19,Wk3On the daily chart(right), the market has retraced to the sell zone for a trend trading opportunity, it's a great opportunity for trend traders to engage for a shorting opportunity.
On the 4-hourly chart(left), a bullish movement follow by a pennant that shows a bullish flag setup which I am more inclined of.
However, for both setup, the RSI was not overbought(right) nor oversold(left), further confirmation is required.
EURUSD-Weekly Market Analysis-Aug19,Wk2EURUSD has once again had a multiple timeframes confirmation on the bearish trend. What I love about this setup is that
1) the bearish bat pattern formed up within the sell zone
2) market is bearish, hence I'm in a trend trading opportunity
3) ABCD pattern confirmation near the completion of the Bearish Bat PRZ, if it is within the zone it will be even better.
NZDUSD 1:3 Risk Reward + Short Coming SoonLogicStrategy Fundamentals
24/05 NZD Negative LogicStrategy Flip - This is where the Logikfx scores shift from net positive to a net negative on NZD
28/06 USD Positive LogicStrategy Flip - Logikfx scores shift from net negative to net positive on USD
Insider Information
Hedge Funds Nets Long USD since 2018
24/06 NZD Negative COTA Flip - Hedge Funds positions shifted from a net long bias to a net short bias on NZD
Technical Analysis
21/07 Price Enters Long Term Sell Zone, RSI Daily Divergences.
Waiting for Retrace to Enter.
USDJPY-Weekly Market Analysis-Jul19,Wk43 counter-trend trading opportunity on USDJPY but let's look at the more recent 2, 1 on the 4-hourly chart, a bullish shark at 106.69 and a bullish butterfly at 107.11.
At this moment the candle shows a very nice setup for trend traders, a long shadow within the sell zone.
What will be your trade plan?