Nasdaq on the Verge of Retracement
📉🚀 Nasdaq on the Verge of Retracement - Bearish Shark Pattern & RSI Divergence Pointing Downward! 📉🚀
I've spotted a Bearish Shark Pattern with RSI Divergence on the Nasdaq, signaling a potential retracement ahead. I've entered the trade with precise stops and targets in place. Let's keep a close eye on how it unfolds.
📊 If this trade turns out profitable, brace yourself, US stocks might be heading for a bearish ride that could last for weeks to months.
⚠️ US Stocks Traders, get ready for possible impact!
📈 Follow my only account @raynlim for timely updates and trading insights. Let's navigate the markets with confidence! 📈🚀
Sharkpatterns
Sideway Consolidation, Perfect for Counter-Trend Traders!📊 If you're a trader seeking both buying and selling opportunities without worrying about trends, this one's for you! Australia-Canada is in a sideway consolidation, ideal for counter-trend traders who love buying low and selling high. 📉📈
👀 On the daily chart, observe the group of highs and lows. The four-hour chart heads towards previous supports, while the one-hour chart shows a new low, great for shorting.
📈 Weekly potential shark pattern at 0.8704, and daily shark pattern at 0.8728, hint at a close-range longer-term buying opportunity. Don't miss the ABCD pattern on the left—amazing trading opportunities await!
🦋 Butterfly traders watch for completion at 0.8730 on the four-hour chart. Focus on repeated levels for the best returns.
💡Want to spot opportunities like a pro in just 15 mins a day? Scan the QR code and join our community of like-minded traders!
🔍 Different trading strategies point to the same level, making it a key focus for buying opportunities. But don't disregard shorting opportunities—be cautious around 0.8730.
📈 Follow me on my only account @raynlim for insightful analysis and updates. Let's trade smarter together! 💹📈
Aggressive Approach on USDCAD!Get ready for some action! The USDCAD trade is heating up, and here's why you should be excited! 💪
On the Weekly Chart, a key support level has been broken, signaling a potential trend reversal. 📉🚫 This opens up an aggressive shorting opportunity for traders who thrive on bold moves! 📉💥
The Bearish Shark Pattern has formed at 1.3587, and all signs point to a potential bearish trend continuation. 🦇📉 But remember, aggressive trading requires careful risk management! 🛡️💼
Should the market retraces to 1.3175 before the Bearish Shark, I will long USDCAD with the help of Bullish Shark Pattern and I might be using a trade management known as the Upsize Trade.
Stay tuned as we dive deeper into this aggressive approach, and remember, trading is all about seizing opportunities! 📈✨
GBPUSD Technical AnalysisFrom the point of view of technical analysis, it seems that the FX:GBPUSD parity ratio is forming a Shark harmonic pattern in the one-hour time frame, and as long as the price enjoys the support range between 1.2274-1.2794, the rate can aim to complete the harmonic pattern. It is intended to increase the resistance range between the numbers 1.2881-1.2863, in which the Fibo resistance of 1.13% of the XC wave will be seen at 1.2820.
Major Counter-Trend Trade🔍 Dive into my latest analysis on the related article and compare it with my previous week's analysis.
📉 Just like last week, we have identified the formation of a Bearish Shark Pattern. This pattern suggests a potential bearish movement in the market.
⚖️ For conservative traders, it's recommended to wait for a violation of the trendline on the 4-hourly chart. Once the trendline is violated, patiently wait for the retest before considering entering the trade.
Stay updated with my analysis as we navigate the market and uncover potential trading opportunities. Don't miss out on valuable insights! 💼📈
Great Wins on WTI💰 Celebrating two great wins on WTI in June! But let me clarify, I'm not chasing streaks—I focus on proper setups. Let's dive into the current situation for WTI, aka US Oil.
📈 The market is testing the support line on the weekly chart. While some traders see it as strong support and anticipate buying opportunities, multiple retests increase the likelihood of a break. That's why my highest priority is shorting WTI and monitoring key levels.
⏰ On the 4-hourly chart, I'm cautious about shorting at the Bearish 5-0 pattern. If I spot an RSI divergence, my perspective may change.
⬇️ Instead, I'm patiently waiting for the Bearish Shark Pattern at 72.03 for a shorting opportunity.
⏱️ On the 1-hourly chart, if you're seeking a buying opportunity, watch for a confirmed candlestick pattern on the Bullish Bat setup at 69.61.
📊 Share your trade plan for WTI! What's your top investment product?
Aggressive Buying🔍 Current Situation: No favourable buying opportunity on GBPUSD, but counter-trend trading possibilities exist.
🔴 Retest of Double Top: Watch for a retest of the double top pattern completing at 1.2745 on the 4-hourly chart. Traders eyeing a reversal will be attracted. #DoubleTopPattern
🦈 Bearish Shark Pattern: Keep an eye on the Bearish Shark Pattern completing at 1.2743. Short-savvy traders may join in. #SharkPattern
💥 Market Reaction: As two trader groups converge at 1.2745, expect heightened volatility and rapid movements. Stay prepared! #VolatilityAlert
📊 Trade Strategy: Exercise caution with counter-trend trades. Set conservative targets and manage risk effectively. Scale in wisely. #RiskManagement
👀 Stay Vigilant: Continuously monitor price action and adapt your approach as the market unfolds. Protect your capital! #StayAlert
Shorting Opportunity🔍📊 Current Market Overview:
I'm closely monitoring the EURUSD pair for a potential shorting opportunity on the higher timeframe. However, at the moment, two buying opportunities have emerged, which deserve our attention. Let's dive into the details:
🦋 Bullish Butterfly Pattern:
On the daily chart, we have identified a Bullish Butterfly Pattern with completion anticipated at 1.0355. This pattern suggests a potential buying opportunity, indicating a reversal in the price action. It's crucial to keep a close eye on the price as it approaches this level.
🦈 Bullish Shark Pattern:
Another interesting development is the Bullish Shark Pattern observed on the 4-hourly chart. This pattern is expected to complete around 1.0764, signalling a potential buying opportunity. However, it's important to remember that these patterns occur in the context of a counter-trend trading strategy.
💼 Trading Strategy:
Given the absence of a clear shorting opportunity, I will adopt a conservative approach and focus on the identified buying opportunities. I will set conservative targets for these trades while remaining vigilant for a suitable shorting opportunity to align with my overall strategy.
Harmonics update!The cypher (white) is now void sadly.
However the shark is still very much in play (blue) looking for a rejection before 31k, if we do get rejected before 31k (30700) my target to buy will be around 18k 🤞
Anyone else been watching this?
WTI H4, Bullish Shart RetestThe Bullish Shark Pattern has formed on the 4-hourly chart. It is a retest of entry; the setup looks legit, its potential returns tempt me
If you are interested in getting involved, the entry price is at
EP: $67.67(buffer $2.50)
ISL: $66.55($-1.12)
TP1: $70.31($2.64)2.35
TP2: $72.15($4.48)4
Do your own analysis, and do not follow blindly.
At 9.30pm(SGT), approx 6hours from posting, there's a lot 4 major Central Bank Gov. speaking.
BOJ, BOE, ECB President,Fed Chair
If the situation permits, that's the time I would like to shift my stops to entry.
Bullish Shark on GBPUSDI'm much more comfortable trading the Forex Pair then Oil, where comes the Bullish Shark retest on the GBPUSD on the 8-range bar for a buying opportunity.
I might even keep my second target open, as I'd the bullish bias on the GBPUSD.
What's your thoughts on GBPUSD?
I might want to own DisneyI might want to own Disney as my first stock. Now this is why!
Are you aware that Netflix stopped allowing users of different IPs to log in and watch the show, even when you had a premium subscription?
That means, even if you are from the same household, but one of you has an extended overseas trip, he could be booted out after he has "used up" the overseas button.
In some countries, the subscription fee of Disney is 3 times cheaper than Netflix. I'm unsure if that's what Disney offers for the first-time sign-up client, but it is worth noticing.
Disney owns some of the biggest brands, such as Marvel, Starwars, 20th Fox Century Studio, and more.
Although I'm not optimistic about some of the new Marvel series, there is so much more potential with Disney.
So when the Bullish Shark Pattern has confirmed at $87.90, it is great news for me to own my first stock and it might be Disney.
What's your take on this?
Correlation Matters No More
For the longest time, I've been saying that the correlations between the currency pairs have been weakened.
Traders have asked me why I have NZDJPY and NZDUSD in my portfolio. Doesn't it move in the same direction?
Over the years, these correlated pairs move pretty differently. And recently, the WTI and Gold have no longer moved in an inverse relationship.
So yeah, I'm treating them as their own.
Although both the 4-hourly and 1-hourly charts show buying opportunities through a potential Bullish Bat Pattern and a Bullish Shark Pattern, I'm more interested in waiting for a shorting opportunity on the 5-0 Pattern.
What's your take on the NZDUSD?
Trend Doesn't Matter!!I'm not saying that trend isn't important, but on this particular trade, it is NOT.
And that is because the NZDJPY is on a sideway market, and it didn't show a particular prominent sign.
My top focus is to wait for a shorting opportunity on the Bearish Crab Pattern that shows up on the daily chart. It is common for crab patterns to have their retest before the actual move.
Why this Crab Pattern?
It coincides with the Bearish Shark Pattern on the Weekly Chart.
If you want a buying opportunity, a magic candle confirmation 87.21 on the 1-hourly chart will allow you to engage the trade. Gartley Pattern is the first pattern that was discovered. What makes this Bullish Gartley Pattern interesting is that the completion falls on the Key Support Level on the Daily Chart, marked as the Blue Horizontal Line, indicating a Key Support Level.
This is both amazing and disturbing to see for both traders.
What's your take on the NZDJPY?
This is why Most Traders Lose MoneyLook at the higher timeframe(right), on the Weekly chart, and have your focus on the retest of the previous high. Not only it fails to close above the previous high, but it also has an RSI Divergence. On the bigger picture, EURUSD is on a Bearish Move.
I'm not saying you can't make money if you have bought EURUSD, but you shouldn't stretch your target when you are counter-trend trading and you won't know that if you didn't get the trend right.
On the lower timeframe, the 4-hourly chart, Trend Traders could wait for a retest of the Key Resistance Level at 1.0912 and wait for a Magic Candle Confirmation to engage the trade.
Counter-Trend Traders could wait for the completion of the Bullish Shark Pattern, followed by a Magic Candle Confirmation at 1.0707 before heading for a buying opportunity.
What's your trade plan for the week? Comment down below.
Finally!! An OpportunityThis is not a lot, but it is something, at least the second target has a good Profit Factor. I'd engaged the Bullish Shark Pattern and if you have noticed, the market is on a sideway movement, which is great for counter-trend traders.
Support BrokenIf you had read last week's analysis, you would know I've been waiting for a buying opportunity on Major Support.
Now that the Support has broken, I'll be waiting for a shorting opportunity, and what is needed is a retest of previous support(1.3305), which turns resistant.
A better way for me to engage the shorting opportunity is to wait for the Bearish Shark Pattern that completes at 1.3321.
What's your trade plan for the USDCAD?
Expansion PatternsAUDCAD has a unique setup that I'd not seen before. We have shark patterns from the Weekly chart to the 1-hourly chart.
This is a clear sign of sideway increase volatility, a situation I DID NOT trade when I started trading 18years ago, not until I found the Shark Pattern trading strategy 12years ago.
I'm more comfortable waiting for the Shark Pattern form up on the 1-hourly chart at 0.8902. Not only because it was the lowest timeframe, which means lesser initial risk on the trade and the completion of the Shark Pattern lands on the Key Support level on the 1-hourly chart.
Expect a pullbackOverall Analysis on EURUSD is still on a Bearish Move; however, this week, I expect a substantial pullback(bullish movement on the EURUSD off the lower timeframe.
If you are looking for a buying opportunity, wait for the Bullish 5-0 Pattern to be completed as early as 1.0723.
Counter-Trend Trading opportunityLow Risk, Good Return Trade
A Bearish Shark Pattern has shown up on the AUDUSD 4-hourly chart. As it is not the best trading setup but the second target produces a healthy Profit Factor of 2.
I've shorted the Shark Pattern as it coincides with the 1-hourly chart 3 drive formula.
This is possible because we use our in-house A.P.E framework and this is known as the combo trade.
BTC Expects a Tiny FUDThe pressure of the SEC on Binance and Coinbase was not only badly received in the markets, but also stopped my bull analysis and we had to close the position at a loss.
The first thing I saw when I looked at the chart from afar before opening a new position was that Bitcoin was on the eve of creating a second shark pattern.
Bitcoin, which repeats the pattern it made in August 2021, can move towards the $18400 target if this upward trend is broken.
Even though I see no reason not to make this move when an extraordinary FUD is swirling in the markets and fear prevails, I still keep my positive mindset and will start sharing pessimistic scenarios only if it retests after breaking the resistance.
Even if uptrend continues, this risk seems to continue as long as the $30700 level is not exceeded.
Low Risk, High Return TradeA combo trade, this is what I call it.
A Bearish Shark Pattern appears on the M15 chart coinciding with the 1-hourly chart Wedge Pattern with a retest of resistance, allowing me to engage the trade base on the M15 chart but allow an extended target on the 1-hourly chart.
As good as it sounds, I'll be placing my stop loss as per usual and will not overtrade this.
A simple trading strategyEarning money can be as simple as waiting for the market to pull back to 0.6631 and waiting for a shorting opportunity.
Trading could be easy; what's not easy for most people is having the patience to wait for the trading opportunity.
They like to get involved in all moves. Mature traders will only wait for the best trading strategy and not get involve in every candlesticks move.
What kind of traders would you be?
Comment down below!!
