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Structuretrading

Merck & Co Inc on Possible Wave Y Completion?It seems that we may have a possible Wave Y completion on the Intermediate Period, with a wave 5 on the Minor Period confirming it. On structure breakout, it is possible that we may see the start of a SHORT on a wave 1 minor of a wave 1 Intermediate. MACD suggests slight upwards movement before a bearish move at the breakout of structure. Stochastic already displays overbought position and likely move downwards as well as RSI suggests overbought position already completed and bearish movement possibly imminent on breakout of structure. Additionally, my guess is that due to looming lawsuits regarding Vaccine safety as well as gender bias lawsuits, has ultimately influenced investor confidence and is now starting to net the results of this. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
NYSE:MRKShort
by UnknownUnicorn661419
AUDUSD: Potential Bearish Trend Continuation Trade Opportunity Hey traders what I'm looking at in this chart is a potential Bearish Trend Continuation Trading Opportunity on the AUDUSD. Price action has provided a little bullish relief after the Friday Job's report and as we get a retracement back into previous structure levels we're offered an entry opportunity for anyone looking to get involved in a bearish move. If you want more details on this trade and my fundamental views heading into this interest rate week then check the signature box below & I'm sure you can find a place where I talk about this trade in more detail. I'm off to finish up a little continued education & get ready for selection Sunday for you college basketball fans out there. Best of luck in the markets this week and as always be safe out there!
Short
by Akil_Stokes
13
GBPCAD - Definitely a good opportunityGBPCAD Shows bullish MACD Divergence on the daily, based on three points, so we could expect an upmove. I'll post the daily chart in the comments. On the 4 hour (this chart), we can see a structure that would end up in a breakout. I'd say that the small flag (blue lines) would go down to retest the bottom blue line, and then it could break out to the upside. If we look at the previous impulse (900 pips in 10 days), we could expect a nice move in the next weeks.
Long
by bbatrading
Already completed Bat formation on USDJPY,60 min chartHi guys, We have a bearish bat formation on hourly chart, which is already triggered and tested PRZ half way. And also this zone is previous support/resistant structure. This one can be good trade with risk reward around 1.5 at the first target 38% FIB lvl even when you place stop loss 10 pips above the whole PRZ, you can aim for target 2 at 61% and so on. If you are not on this trade yet, there is still time to get on the train when market opens on monday! Good Luck Sam
Short
by Samnation_Trading
5
EUR/GBP Structure Trade PART 2(Advanced Pattern Entry)Hey Traders So this is still working on the idea that I last posted, I am going to tag it below so if you haven't seen that one, go check it out first and then come back. I'm going to break this post down by the three different trade options we have, that way it will be easy to digest. Keep in mind, the goal is to show how there are multiple ways of tackling a trade and each has its pro's and con's. option3 has almost double the risk that option 1 has, but it also has slightly less probability of being stopped out, so there's no BEST way, just YOUR way :) OPTION 1: So if we remember what we last posted, we had our bearish bias from daily outlook and trading timeframe confirmation with the Lower Low Lower Close (Highlighted in the red ellipse) and we were looking for a place to get in short. We narrowed that area down to a level of major resistance and laid out a clear IF/THEN sequence for taking the trade. The circumstances did NOT meet so we did not take the trade. Instead price broke above that High and came back down to test it again as support(crazy right.. how resistance becomes support :p ) and now the question begs, am i still getting short? Heck yeah, I just have to wait for the market to give me my confirmation. Fortunately for me, I have a degree in harmonics (not really, but i meant to certify my bad ass"ness") and I found a harmonic pattern, The Gartley, and best of all, its a good looking pattern. So this gives me the perfect opportunity to Short with Minimal Risk. So now to the meat of it, the first option would be taking the gartley traditionally with your targets at the fib levels. (boring.. but if your habit building, then just follow your rules and stick to traditional) OPTION 2: This would be taking the gartley's first targets and taking extended targets down and previous support. (Great trade, minimal risk, good reward) OPTION 3: This is using the Gartley as a Entry Technique to a longer term trade, taking targets down at previous support, and then down at the lower low, lower close. My stops would go above the highs to the left, Unfortunately I can't put my stops above the True Swing high because it would skew the RR too much and make the trade not viable. (This is the one I am going to take) Like always if you have any questions feel free to comment below
Short
by TheAlcoveFx
2
Structure Trade Idea EURGBP H1 ShortHey Traders, So I have been giving you guys a bunch of patterns and every now and then its good to show you some structure trades we take inside of Forex TV . This one is simple yet it can look a little bit indimidating to the new trader so if that's how you feel, don't worry, I will go over it right now and hopefully you will get a better understanding. The first thing that is needed to understand why we are taking this trade is to take a look at this pair on the daily timeframe. We are in the middle of a longer term pullback, but in that pullback, we have a lot of bearish momentum, and this last bullish move on the H1 is a relief rally of the downward move we have been having with EURGBP. Once we understand that, we can start looking for bearish opportunities on the lower timeframes, like we have here. So now that we have our bias, the next step is to identify where is the best place for me to enter this trade. The way that I do that is by identifying the levels of major support and resistance because in the past, these had been the major decision points. In this chart, we can see the channel price stayed in before going to the upside and finally breaking down low. My goal is to see IF price can give me a reason for entry at the level of major resistance. That's the most probable place price might go, and it has higher probabilities to go down than up since we are coming up against resistance rather than support. All I have to do is wait for price to confirm and the RSI to confirm. That is how simple it is. If you like this type of trading, I would highly recommend joining Forex TV, we do this every single day. Like always if you have any questions , feel free to comment below
Short
by TheAlcoveFx
2
Structure Short Opportunity on EURCADHey Traders, I know its slightly late, however as I was scrolling through the charts, I remembered about this trade that I was keeping an eye on. This is a simple Trend Continuation trade for me, We are breaking structure to the downside, and now we got a pullback intro previous resistance which gives us a great RR. For this entry, we waited for a lower low lower close, if you have to zoom it, do it. You will see how price consolidated, even put in a small double top with RSI divergence, and then finally we got the bearish confirmation candle when it closed below those lows. Stops should be above that high, because if price passes that, that most likely I was wrong and I want to be out of the market. You can break this position up in two, and remove half your position at that level of support, and then move your stops to break even, or you can just trade one in and one out. Personally I Like securing my profits ASAP and then looking for extended targets. That Way I never leave myself exposed for too long. Anyways, Hope this trade Idea helps, Like always, if you have any questions feel free to comment below !
Short
by TheAlcoveFx
LLY Eli Lilly: Where can we buy?This stock has been in a correction for about a year now and it looks like it is not done yet. Looking to the price history on the left we can see that we could soon hit strong support starting from $60.00 which is basically the top of a $48-60 price channel. So I would be looking to buy anywhere below $60 if we re-enter that channel (yellow box). I don't expect price to just move through this channel, just like we cannot just break through a herd of cows crossing the street while driving. In addition, if we copy the move from the swing highs to swing lows from 2015-2016 we can see that an equal move would end right around $60 as well, providing a further reason for entry.
NYSE:LLYLong
by PHL
GBPJPY Structure ShortHey Traders, Again, Not much on the charts, but taking a look, we do have some potential trading opportunities setting themselves up. Keep in mind, I will be FLAT until Wednesday as much as I would love to enter the market. After having experienced slippage first hand, I never want to put myself in the situation where I am in a position and I get slipped 50-100 pips on top of my stop loss. Sounds crazy right? Well, welcome to volatility. Today on the charts, we have a descending triangle that we don't trade, however if you notice, we set up a decent level of support, which is now being re tested. From what we understand of the markets, support becomes resistance, so if there was any place to be looking for a short, it would be in this zone. Now, If I were to enter this trade, I wouldn't do it aggressively. I would be more conservative and wait for a candlestick formation to set up on the lower timeframes to help me enter. Targets 1 are set on a re test of structure, you can shoot for confluence of structure and Fibonacci extension for targets 2. Stops would have to be above the previous highs. Hope you have a safe day of trading, If you have any crazy trading stories of past events, leave a comment below, I would love to hear about it.
Short
by TheAlcoveFx