It could be an Head & Shoulders insteadIt could be an Head & Shoulders instead of a Bullish Shark Pattern.
Let's see.
Sharkpatterns
Bullish Shark Pattern on NZDUSD M15 ChartI love trading sideways consolidation breakout trades, but since I missed the initial move, I've been patiently waiting for a retest. Now, an even better opportunity has presented itself!
What's Happening?
- Bullish Shark Pattern : A Bullish Shark Pattern is forming on the M15 (15-minute) chart at 0.6046 on the NZDUSD.
Why is this Exciting?
- Combo Trade Management : This setup allows for a combination of strategies that can significantly reduce initial risk while increasing potential returns.
How to Approach This Trade?
1. Wait for Confirmation : I'll be waiting for a Magic Candle Confirmation at the pattern completion point before entering the trade.
2. Risk Management : Include our stop-loss buffer just below the pattern completion to manage risk effectively.
3. Potential Upside : With the pattern forming and the potential retest, this setup could offer a great risk-to-reward ratio.
Final Thoughts
Sometimes, missing an initial trade isn't a setback but an opportunity to find an even better setup. Patience pays off! 🎯
What’s your take on this NZDUSD setup? Have you spotted similar opportunities? Share your thoughts and let's discuss!
Happy trading, everyone! 🚀
11 Money-Making Opportunities and the A.P.E FrameworkI’ve just recorded a video covering 11 Money Making Opportunities that you won’t want to miss. Here’s a quick rundown of the currency pairs discussed:
- GBPUSD
- USDJPY
- EURJPY
- GBPJPY
- NZDJPY
- NZDUSD
- AUDUSD
- AUDCAD
- USDCAD
- CADJPY
- GBPAUD
What’s Inside:
- A.P.E Framework: I’ve also shared how I use our trading framework, the A.P.E Framework, and why it’s so important in guiding my trades.
- Strategic Insight: These trading ideas are meant to get you thinking critically about your trades. Remember, they’re not meant for you to follow blindly.
Key Takeaway:
- Plan Your Own Trades: Use these ideas as a devil’s advocate to challenge your strategies and prevent you from going too aggressive on your trades.
Make sure to watch the video for in-depth analysis and insights!
What’s your take on these opportunities? Have any of these pairs caught your eye? Share your thoughts and strategies below!
Happy trading, everyone! 🚀
Second Chance Shorting Opportunity on EURUSDIf you’re looking for a second chance to short EURUSD, there’s a promising setup involving a Type 2 Bearish Shark Pattern with RSI Divergence. Let’s break it down.
Current Overview:
- Type 2 Bearish Shark Pattern:
- What It Means: The first target has already been achieved. This provides clarity on the first target but might reduce participation since the initial group of traders who profited may not re-engage.
- RSI Divergence:
- Signal: This divergence adds another layer of confirmation, especially for traders who rely on resistance and RSI divergence as their entry signals.
Strategy:
- Second Chance Entry: This setup offers a second opportunity to short EURUSD, with the RSI divergence potentially attracting a new wave of traders.
- Profit Factor: The strong profit factor in this trade is what drew me in, despite the potential for reduced participation from the initial group of sellers.
Final Thoughts:
While there might be fewer sellers this time around, the RSI divergence could bring in new participants, making this a solid second chance trade. Always keep an eye on your signals and manage your risk effectively.
What’s your take on this setup? Are you planning to jump in, or do you see other opportunities? Share your thoughts and strategies below!
Happy trading, everyone! 🚀
Second Attempt at Shorting NZDUSDI’m back at it with a second attempt to short NZDUSD, and here’s why this setup caught my attention.
Current Overview:
- 4-Hourly Chart:
i) Rising Channel: The pair is moving within a rising channel.
ii) RSI Divergence: This divergence signals a potential weakening of the uptrend, which adds confidence to the short setup.
Shorting Opportunity:
- 1-Hourly Chart:
i) Type 2 Bearish Shark Pattern: This pattern gave me a solid entry at 0.6029.
Strategy:
- 1st Target:
i) Extended to: 0.5992
ii) Why: The market reversed beyond the original 1st target, allowing me to extend it for better profit potential.
- 2nd Target: Keeping it open to adjust based on how the market moves.
Final Thoughts:
This setup combines a classic RSI divergence with a well-defined Bearish Shark Pattern, making it a compelling opportunity for a second short attempt. If you’re considering a similar trade, keep an eye on the targets and be ready to adapt as the market unfolds.
What’s your take on this setup? Have you noticed similar patterns in your trading? Share your thoughts and strategies below!
Happy trading, everyone! 🚀
Trading Idea: Bearish Shark Setup on NZDUSDI wanted to share an interesting setup on NZDUSD that’s been forming for a while. Let’s dive into the details!
Current Overview:
Bearish Shark Setup:
Potential Reversal Zone (PRZ) : The setup has been hovering at the PRZ, which some traders might misinterpret as a violation.
Key Insights:
Having the Right Knowledge Matters : From my 19 years of trading and nearly 16 years of coaching, I’ve seen even experienced traders make mistakes in reading signals like this. It’s not uncommon for traders with 8 years of experience to misjudge such setups.
Strategy:
Second Chance Entry:
Key Level : 0.5935
What to Do: If you missed the initial signal, wait for the market to retest 0.5935 for a second chance entry opportunity.
Community Alert:
This Trade Alert was triggered at 14:00(SGT)
Final Thoughts:
Patience and proper signal interpretation are crucial in trading. If you’re looking for a second chance, keep an eye on 0.5935. Don’t hesitate to reach out if you need more insights or if you missed this trade.
What’s your take on this setup? Have you seen similar patterns before? Share your thoughts and strategies below!
Happy trading, everyone!
Buying Opportunities on EURUSDHere’s an exciting update on EURUSD, which has just broken out of consolidation on the weekly chart. Let’s explore the buying opportunities available.
Weekly Chart:
EURUSD has broken and closed above the consolidation, signaling a potential upward trend.
Buying Opportunities on the 4-Hourly Chart:
1. Support Level:
- Key Level: 1.0843
- What to Do: Look for a buying opportunity at this support level.
2. Bullish Shark Pattern:
- Pattern Completion Level: 1.0820
- What to Do: Wait for the Bullish Shark Pattern to complete at 1.0820 for another buying opportunity.
Strategy:
1. Magic Candle Confirmation: Always wait for this confirmation before entering the trade. It ensures a higher probability of success.
2. Stop-Loss: Place your stop-loss just below the entry level after our buffer to manage risk.
Final Thoughts:
This breakout on the weekly chart offers promising buying opportunities. Remember to stay patient and wait for the Magic Candle Confirmation before entering your trades.
What’s your plan for EURUSD? Are you looking at the support level or the Bullish Shark Pattern? Share your thoughts and strategies below!
Happy trading, everyone! 🚀
GBPUSD Breakout and Bullish Shark Pattern!I hope you’re all doing well and staying sharp in the markets. I wanted to share an interesting setup I’ve been eyeing on GBPUSD that could be a great opportunity for both new and experienced traders alike.
What’s Happening?
- Weekly Chart:
- GBPUSD has finally broken out from its sideways consolidation, which is super exciting! This breakout could mean we’re in for some upward action.
The Plan:
On the 1-hourly chart, I’ve spotted a Bullish Shark Pattern. This pattern is a fantastic tool for identifying potential buying opportunities.
- Key Level: 1.2873
- What to Do: I’m waiting for a “Magic Candle Confirmation” at this level. This confirmation will give me the green light to enter a long position.
Why This Setup is Cool:
- Breakout: The breakout on the weekly chart signals a possible trend change, which is a big deal!
- Bullish Shark Pattern: This pattern helps us pinpoint a precise entry, making our trading plan more reliable.
How to Trade It:
1. Wait for Confirmation: Don’t rush! Wait for the Magic Candle to form at 1.2873.
2. Set Your Stop-Loss: Place it just below the pattern completion level to manage risk.
Final Thoughts:
Trading can be tricky, but by using patterns and waiting for confirmations, we can make more informed decisions. Keep learning and stay patient. Good things come to those who wait (and plan well)!
What do you think about this setup? Do you have any insights or questions? Drop a comment below and let’s discuss!
Happy trading, everyone! 🚀
Long Opportunities on EURUSDIf you are looking to long EURUSD just like me, the 4-hourly chart presents a promising Bullish Shark buying opportunity. Here's how we can approach it:
Bullish Shark Pattern:
- Pattern Completion Level: 1.0820
- Strategy: Wait for a Magic Candle Confirmation at 1.0820 before entering a long position.
- Stop-Loss: Place a stop-loss just below the pattern completion level.
Support and Resistance Level:
- Support Level: 1.0864
- Strategy: Look for a buying opportunity at this support level.
- Stop-Loss: Place a stop-loss just below the support.
- Target: Target 1 at Previous High.
Key Points:
- Bullish Shark Pattern: Provides a technical setup for a long position with a specific entry and confirmation point.
- Support and Resistance: Offers a simpler approach for traders looking for straightforward support and resistance trades.
- Risk Management: Ensure proper stop-loss placement to manage risk effectively.
- Confirmation: Always wait for the Magic Candle Confirmation before entering trades based on the Bullish Shark pattern.
These setups provide clear entry and exit points for long positions on EURUSD.
What’s your take on these strategies? Do you have other approaches that work for you?
Share your thoughts and strategies below!
NZDUSD Harmonic + Elliott Waves SenarioThe confluence of the Shark Harmonic Pattern and the Elliott Wave Theory can provide strong signals for potential market reversals. By carefully analyzing the Fibonacci ratios, wave counts, and market behavior, you can create a robust trading strategy. Always complement pattern analysis with other technical indicators and sound risk management practices to enhance trading success.
in OANDA:NZDUSD I saw a Harmonic Shark Pattern at the begining and then realised that the completed pattern is loverlaped with a 5 waves of an elliott pack. the correction of the elliot package can be a ABC corection which the target of wave C is compatible woth Target of the Shark Harmonic pattern.
what do you think about this senario?
Classic Support and Resistance with Harmonic Pattern on USDCADUSDCAD has a classic support and resistance line on the 1-hourly chart. Here are two approaches depending on your trading style.
Classic Support and Resistance Levels:
Shorting Opportunity:
- Resistance Level: 1.3691
- Strategy: Look for a shorting opportunity at this resistance level.
- Stop-Loss: Place a stop-loss just above the resistance.
- Target: Aim for the support level at 1.3641 or below.
Buying Opportunity:
- Support Level: 1.3641
- Strategy: Look for a buying opportunity at this support level.
- Stop-Loss: Place a stop-loss just below the support.
- Target: Aim for the resistance level at 1.3691 or higher.
Harmonic Pattern:
- Bullish Shark Pattern:
- Completion Price: 1.3637
- Strategy: Wait for the Bullish Shark Pattern to complete at 1.3637.
- Magic Candle Pattern Confirmation: Look for a Magic Candle Pattern confirmation to enter a buying position.
- Stop-Loss: Place a stop-loss just below the Bullish Shark completion level.
- Target: Aim for higher resistance levels based on the pattern projection.
Key Points:
- Classic S&R Levels: Simple and effective strategy using clear support and resistance levels.
- Harmonic Pattern: Adds an additional layer of confirmation for more precise entries.
- Risk Management: Ensure proper stop-loss placement to manage risk effectively.
- Confirmation: Always wait for confirmation signals before entering trades.
Whether you prefer classic support and resistance or harmonic patterns, these setups provide clear entry and exit points. What’s your take on USDCAD? Do you have other strategies that work for you? Share your thoughts and strategies below!
Potential BOJ Intervention and Technical Setups on USDJPYIf you haven't heard the latest news, Japan's Finance Minister and the BOJ have differing views on the intervention of the Japanese Yen. The Finance Minister believes that FX intervention didn't work, while the BOJ has stated they are prepared to intervene at any time and could catch the market by surprise.
Having traded for 18 years, I'm quite familiar with what a market intervention looks like. If you believe the BOJ will intervene, then there are some interesting technical setups to consider.
Analysis:
1-Hourly Chart:
- Potential Head and Shoulders Formation: This pattern could signal a bearish reversal.
15-Minutes Chart:
- Bearish Shark Pattern Checkback: This setup allows us to capture similar targets with lower initial risk.
Strategy:
1. Head and Shoulders Formation:
- Monitor for Pattern Completion: Watch for the right shoulder formation and neckline break.
- Entry: On confirmation of the neckline break.
- Stop-Loss: Above the right shoulder.
- Target: Based on the height of the pattern projected downwards.
2. Bearish Shark Pattern Checkback:
- 15-Minutes Timeframe:
- Entry: Look for entry on the checkback of the Bearish Shark Pattern.
- Stop-Loss: Above the high of the checkback.
- Target: Aligns with the target from the head and shoulders pattern on the 1-hourly chart, allowing for a lower initial risk.
Key Points:
- BOJ Intervention: The potential for surprise intervention by the BOJ adds a fundamental catalyst to these technical setups.
- Risk Management: Ensure proper stop-loss placement to manage risk effectively.
- Confirmation: Always wait for confirmation of the patterns before entering trades.
What’s your take on USDJPY and the potential for BOJ intervention?
Do you see any additional opportunities or setups?
Share your thoughts and strategies below!
Trading Idea: Counter-Trend Trading Opportunities on EURUSDEURUSD has an overall bearish trend. At this point, many counter-trend traders, including myself, are looking for counter-trend trading opportunities. We've had some luck in this regard.
Analysis:
Daily Chart:
- Bullish Shark Pattern: Confirmation is formed, suggesting potential for a counter-trend move.
4-Hourly Chart:
- Falling Wedge Trading Setup: Provides a setup to go long and take advantage of the bullish pattern on the daily chart.
Strategy:
- Bullish Shark Pattern: Use this confirmation on the daily chart to inform your decision.
- 4-Hourly Chart Long Entry: Look for entry points based on the Falling Wedge setup.
- Entry: On breakout above the wedge.
- Stop-Loss: Below the recent swing low within the wedge.
- Target: Aim for key resistance levels that align with the daily chart's bullish shark pattern projections.
Key Points:
- Counter-Trend Trading: Recognize the overall bearish trend but exploit the temporary bullish setup.
- Pattern Confirmation: Use pattern confirmations on higher timeframes to guide entries on lower timeframes.
- Risk Management: Ensure proper stop-loss placement to manage risk effectively.
What’s your take on EURUSD? Do you see any additional opportunities or setups? Share your thoughts and strategies below!
Trading Idea: Shorting GBPJPY Amid Conflicting Signals from JapaThe recent statement from Japan's Finance Minister about possibly giving up FX intervention due to its ineffectiveness, which seems to suggest acceptance of the yen's continuous weakness, directly conflicts with recent BOJ communications.
Considering this, shorting GBPJPY becomes a highly volatile decision. Nonetheless, a trade is a trade. If this trade goes well, profits are expected within 2 hours. If not, that's part of the game.
Trade Setup:
Short GBPJPY
Entry : 202.97
Stop-Loss : 203.21
Target 1 : 202.60
Target 2 : Open
Strategy:
- Volatility Consideration : Acknowledge the high volatility due to conflicting statements from Japan’s Finance Minister and BOJ.
- Risk Management : Set stop-loss at 203.21 to manage potential losses.
Profit Targets :
Target 1 : 202.60
Target 2 : Keep open
Remember to breathe and prepare for the next trade. What’s your take on this situation? Do you see a different angle or strategy? Share your thoughts and insights below!
Trading Idea: Classic Support and Resistance vs. Harmonic PatterSometimes, the classic Support and Resistance trade is more effective than Harmonic Patterns. It may seem simple, but trust me, it isn't. First, you have to plot it the right way, and even then, different analyses will view the trend differently.
For example, I’ve recently got into shorting USDCAD.
Key Points:
- Support and Resistance: Often more reliable than Harmonic Patterns if plotted correctly.
- Different Perspectives: Proper plotting can lead to varied interpretations of the trend.
- Current Trade: Shorting USDCAD based on my analysis.
Strategy:
- Plan Your Trade: Always plan your trade meticulously and do not follow anyone blindly.
My Entries:
Shorted USDCAD: 1.3692(13)
ISL: 1.3740(-48)
TP1: 1.3666(+26)0.54
TP2: 1.3640(52)1.08
Remember, effective trading requires careful analysis and a well-thought-out strategy. What’s your take on the effectiveness of Support and Resistance trades compared to Harmonic Patterns? Share your thoughts and strategies in the comments!
ATOM with shark pattern and divergenceThe analysis of the ATOM/USDT currency pair shows a shark pattern that is approximately 240 days old. Additionally, there is a positive divergence, suggesting a reversal from the PRZ (Potential Reversal Zone), which is a buying and accumulation area. The initial three targets, as shown on the chart, are around $9, $10, and $11. Be flexible when taking profits and securing the stop loss, and do not sell all the currency at the visible targets. Instead, keep some for the bull season.
NZDJPY Trend Reversal OpportunityOn the 1-hourly chart, it looks like a regular shorting opportunity with Key Resistance Level retested at the almost perfect, but potential BOJ Intervention zone, so for traders of all kind to ''try their luck!!''
However, on the Grand Scale of things, and it is a Type2 Bearish Shark Pattern on the Daily Chart.
After I'd include the buffer, I the market hit Price Action Level at 94.00, hence, I'd to push my SL 10pips away, but making it 94.10.
Let see how the market moves before the New York Session ''opens''
GBPUSD Analysis: Trend Continuation TradingTrade Strategy: Trend Continuation
- Key Level (1-hourly chart): Retest at 1.2419
- Additional Setup (4-hourly chart): Bullish Shark Pattern at 1.2141
Analysis:
- Approach: Identifies potential opportunities for trend continuation trading
- Key Level: Looks for a retest at 1.2419 on the 1-hourly chart as an entry point
- Additional Setup: Considers stretching the target to 1.2141, the completion of a Bullish Shark Pattern on the 4-hourly chart
Trade Plan:
- Entry Point (1-hourly chart): Consider entering a short position on a retest at 1.2419
- Upsize Trade Management: Utilize Upsize Trade Management to extend the target to 1.2141
- Risk Management: Implement effective risk management techniques to safeguard trades
Insights:
GBPUSD exhibits potential for trend continuation trading, with a retest at 1.2419 offering an entry point on the 1-hourly chart. Additionally, consideration of stretching the target to 1.2141 aligns with the completion of a Bullish Shark Pattern on the 4-hourly chart. Employ prudent risk management practices to navigate market volatility.
📉📈 Exercise caution and prioritize risk management when trading GBPUSD based on trend continuation setups!
AUDUSD Analysis: Bullish Shark Pattern- Trade Strategy: Bullish Shark Pattern
- Key Level: 0.6454 (Retest Level)
- Challenge: Strong Bearish Movement
Analysis:
- Importance: Highlights the difficulty of trading a Bullish Shark Pattern amid strong bearish pressure
- Technical Analysis: Identifies a Bullish Shark Pattern on the AUDUSD chart
- Challenge: Requires a 3-bar reversal and candlestick confirmation for a viable buying opportunity
Trade Plan:
- Entry: Consider a conservative entry at the retest level of 0.6454
- Confirmation: Wait for a 3-bar reversal and candlestick pattern confirmation before entering
- Risk Management: Implement effective risk management techniques to protect against potential losses
Insights:
Trading the Bullish Shark Pattern on AUDUSD requires caution due to the strong bearish movement. Conservative traders should wait for confirmation signals before entering the market, prioritizing risk management to mitigate potential losses.
📈🦈 Exercise patience and diligence when trading the Bullish Shark Pattern on AUDUSD!
NZDJPY Analysis: Bullish Combo Trade SetupTrade Strategy: Combo Trade (Bullish Deep Gartley + Bullish Shark)
Key Levels:
- Bullish Deep Gartley Pattern: 4-hourly chart
- Bullish Shark Pattern: 1-hourly chart
- Trading Zone: Coincides with Bullish Shark completion
Analysis:
- Importance: Utilizes a combo trade strategy for enhanced risk management and profit potential
- Technical Analysis: Identifies a Bullish Deep Gartley Pattern on the 4-hourly chart and a Bullish Shark Pattern on the 1-hourly chart
- Trade Management: Enables a reduction in stop loss and potential expansion of profit targets
Trade Plan:
- Entry: Consider entering at the confluence of the Bullish Deep Gartley completion and the Bullish Shark completion within the trading zone
- Risk Management: Utilize effective risk management techniques to reduce stop loss and protect profits
- Profit Taking: Extend profit targets based on the combo trade setup and trading zone alignment
Insights:
The Bullish Combo Trade Setup combines two harmonic patterns, providing an opportunity for enhanced risk management and profit potential. Traders can capitalize on the confluence of patterns to optimize their trading strategy.
📈🦈 Keep an eye on NZDJPY for potential bullish movements based on the Bullish Combo Trade Setup!
GBPUSD Analysis: Support and Resistance Trade SetupTrade Strategy: Support and Resistance
Key Levels:
- Support at 1.2435 (1-hourly chart)
- Resistance at 1.2534 (1-hourly chart)
Analysis:
- Importance: Utilizes support and resistance levels for trading opportunities
Trade Plan:
- Buying Opportunity: Look for buy entries near support at 1.2435
- Shorting Opportunity: Consider shorting near resistance at 1.2534
Insights:
GBPUSD presents support and resistance trading opportunities on the 1-hourly chart. Traders can consider buying near support and shorting near resistance levels for potential profits.
📈📉 Stay alert for trading opportunities based on support and resistance levels in GBPUSD!
Counter-Trend for Greater ProfitsThis week, I'm looking at NZDJPY with a bearish perspective, and here's my trade plan:
1. Bearish Shark Pattern Confirmation at 91.74: I'll be patiently waiting for the Bearish Shark Pattern to confirm at the level of 91.74. This level coincides with the formation of a Head & Shoulders pattern, adding confluence to the bearish setup.
2. Extended Trading Targets: If the Bearish Shark Pattern sets up as anticipated, I'll extend my trading targets beyond the traditional Target1 and Target2. By doing so, I aim to capitalize on the potential bearish momentum and maximize profits from the trade.
3. Stop Loss Management: Once the market reaches the traditional Target1 of the Shark Pattern, I'll shift my stops to the entry level to protect profits and minimize risk.
By patiently waiting for the bearish setup to confirm and managing stops effectively, I aim to capitalize on the shorting opportunity presented by NZDJPY this week.
What are your thoughts on NZDJPY? Feel free to share your trade plans and insights below!
Wishing everyone successful trading ahead!
Short on EURUSDThis week, I'm leaning towards a shorting opportunity on EURUSD for a couple of reasons:
1. **Bearish Shark Pattern on Daily Timeframe:** The presence of a Bearish Shark Pattern on the daily timeframe suggests a potential downward movement in the price.
2. **Breakthrough of Bullish Gartley Pattern:** The Bullish Gartley Pattern on the 4-hourly chart breaking through the Potential Reversal Zone (PRZ) indicates a weakening bullish sentiment.
3. **Waiting for Retest:** I'll be patient and wait for the market to retest the resistance level at 1.09121 before entering a short position.
What are your thoughts on EURUSD? Share your trade plans and perspectives below!
Let's make this week a profitable one!
Happy Trading!
