Trade Ideas Position: GBPJPY BatSaw the spikes, on the lower timeframe, 15-mins chart there was a bearish bat who spike upwards, notice how the RSI divergence shows a possibility of a bearish move. Well RSI is not everything nor the holy-grail. The spike had hit the 1st target if it was engaged.
For those who had not engage, don't worry and don't chase, I will wait for confirmation on this bat pattern instead.
Sellzone
XRP/USD, open sell after pullbackPriority: Short
Reasons for open position:
- Sell zone is 0.453-0.461
- Locally trend has changed to short when price break down level 0.435
Stop above 0.461
Take profit 1/2 (0.4375) and higher, depends on your greed
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Trade Ideas Educator: Bat DivergenceThis 2 trade got caught by the market. AUDUSD got back to the entry price, but still within the sell zone and with RSI Div. I will still hold onto this trade till it either hit targets or my stop.
NZDUSD, on the other hand is much more tricky. No doubt that is an RSI Divergence as well but the candle break and close above the sell zone forming new high. I will also stick to my plans but what're your thoughts.
Love to hear from you what will you do if you had already engaged a short trade on Point D completion.
Trade Ideas Educator: GBPJPY BatBearish Bat VS Bullish Shark with such setup 1 cannot live in the presence of another as the other pattern will be invalid once 1 has formed up.
A likelihood and more comfortable setup will hence be the bearish bat setup as it is within the sell zone.
What is your trade plan?
GBPUSD-Weekly Market Analysis-Jun19,Wk2On the daily-chart, bullish shark pattern setup for a buying opportunity and the great thing about this for many traders is on the 4-hourly chart the market is now within the sell zone but at the very extreme end of it.
Such setup although is high-risk for sellers but it provides a fantastic reward:risk. The ball is in your court and the choice is yours.
Follow your trade plan.
Trade Ideas Position: EURJPY BatTypically not the best setup, conservative traders may want to wait for candle confirmation before engaging the trade.
However, this trade is set up at the tip of the sell zone and event the 1st target produced a 2:1 Reward: Risk.
The choice is in your hand, your plan, you decide.
Trade Ideas Position: USDSGD BatRemember this? We have shared this last Friday. After much consideration, I do see this is tradable setup, not the usual pair I will trade but with information gather, I have already placed the pending order.
The only thing is to wait for the market to retest the suppose entry price.
Trade Ideas Position: NZDJPY SharkBearish Shark Pattern within the sell zone is perhaps the most preferred setup I was looking for to engage a trade. In addition to that an RSI Divergence and the fact that this is a trend trading trade, further sweeten it.
The only thing that I don't quite like, it is near the end of the recent low. However, it's just an intraday trade.
DO IT ALREADY right?
USDJPY-Weekly Market Analysis-May19,Wk5On the daily chart(right) an emerge bullish bat pattern is on the way and on the 4-hourly chart(left) the bearish bat pattern is emerging.
So what should you be doing?
That's when 2 important things come in place.
1) Filters and trade plan: this removes emotion and uncertainty in trading.
2) Overall market fundamental analysis, in this case, US Economy vs Japan Economy:
US
Any news along with interest rate cut, trade war, etc...
Japan
Any exchange rates intervention?
Have a good think through on this.