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The808trader

USD/JPY Consolidation Short TradeThis pair has been stuck in consolidation for a while now and I'm looking for a sell here near the top of the zone back down towards the middle or where price has been stuck. Even after a small gap at open we have a good opportunity to get short as price will likely look to balance back out yet again. If we fail to break down further the we have a tight stop, despite risk to reward not being the greatest, it's not too terrible either. If we fail to break down, this setup may become invalidated.
by The808Trader
1
USD/CHF Divergence Long TradeThis is a divergence setup that I'm looking at right now as we attempt to test previous price structure support for added confluence. This has a nice tight stop and I'm just aiming for a rise back to previous price structure as a target. If this happens it will likely happen fast, and then I'll be looking then to shift bias back to bearish to continue on the trend it has been. If we fail to get the rise pretty quick here, then I'll deem this setup as invalidated.
Long
by The808Trader
1
Kiwi Retracement Sells - Ichimoku NZD/USD ShortWe've been absolutely hammering this pair lately, let's see if we can keep that streak going. This setup is similar to the Aussie play we're looking at as well. I am looking for a small bounce up and a rejection at tenkan sen to keep the bearish trend running. If we get that retracement and rejection I'll enter the sell with the main TP being down at the kumo twist you can see on the far left of the image. I've also drawn out a few partial take profit levels with the green horizontal lines. I like to reduce my risk as it runs by taking some money off the table and letting the rest of the position run. If we fail to get a decent retracement or if our bearish confirmations change, this setup will become invalidated.
Short
by The808Trader
Aussie Drawback Sells - Ichimoku Short TradeThis pair has broken below the kumo and is trying to establish a bearish trend but struggling a little here. I am looking for a drawback to tenkan sen and price structure for resistance to form to help confirm a sell. If we can get that drawback and push down, we should be able to break the support we're currently stuck at around .6410. If we're able to get our sell, my main TP will be at the previous flat kumo and twist you see on the far left of the screen. If we fail to hold our bearish confirmations or get a decent drawback for our sell, this setup may become invalidated.
Short
by The808Trader
NZD/USD Ichimoku Drawback SetupThe kiwi has risen up to a strong level of previous price structure resistance. While my overall bias is bullish I am expecting a drawback here to test support before trying to push any higher. I've drawn out my target at previous price structure we are likely to try and test support as well as a flit kijun sen level. Remember that we are close to a bullish kumo twist and chikou span is above price meaning we are still bullish overall so this is just for a short term sell. Since it is counter trend, this is higher risk than normal, so I'll be taking a slightly small risk %. If we fail to get the drop or show signs of the drop we're looking for, then this setup may become invalidated.
Short
by The808Trader
1
EUR/JPY 1 Hr Ichimoku Bullish BreakoutThis setup is a combination of a bullish breakout on the 1 hour chart, and a retracement play on the 4 hour. I'm going to look for buys if we can get a small dip to tenkan sen or kijun sen and hold above them on the 1 hour time frame. That will be my chance to get long and aim for my overall target I've drawn out here, as well as the partial take profit levels I've drawn lines at. Our overall target also lines up with the bottom of the flat kumo on the 4 hour chart so it will likely turn into a major resistance area for us and give us a chance to evaluate how this trend is doing. If we fail to hold support and climb higher, or if these bullish confirmations on the 1 hour chart change, this setup may become invalidated.
Long
by The808Trader
EUR/USD Ichimoku Bearish Trend ContinuationWe absolutely smashed this pair last week and I'm looking for some bearish momentum to continue for us to take advantage of another sell opportunity. We dropped hard last week before ending the week by testing kijun sen and the kumo resistance we're sitting at right now. We have been holding kijun and the kumo so I'm going to look for a sell at a break below our current candle for a chance to short. I've drawn out partial take profit levels on my way to the wick price structure low we formed a couple weeks ago. If we fail to hold bearish resistance, or if our bearish confirmations change, this setup may become invalidated.
Short
by The808Trader
GBP/CHF Bearish Ichimoku Swing TradeLove where this pair is at! We're about to attempt a bearish kumo breakout here at market open. I've drawn my entry a little lower near the bottom of the previous bearish kumo to the left of price. I've placed a stop loss just above the most recent candle high. This can turn into a nice swing trade, but I've also drawn out two partial profit levels to aim for along the way. If we fail to maintain bearish confirmations or to form lower lows and highs, this setup may become invalidated. 
Short
by The808Trader
3
EUR/AUD Bullish Ichimoku Swing TradeEuro has been rising for a while now and we're close to actually establishing a longer term ichimoku bullish trend now. We closing in on the kumo twist, chikou span is already above price and free, and tenkan/kijun are in a bullish formation. I am look for a drop back down to the kumo and support to hold for a chance to get into a longer term swing trade to the upside. There is also a flat portion of the kumo to the right of price where we may see  support try and test first as well. If we fail to get a good drawback, or form support, then this setup may become invalidated. 
Long
by The808Trader
2
EUR/USD Drawback Trade - Ichimoku ResistanceThis pair has been pushing up with a lot of the news coming out about China changing their peg back to yuan, as well as the downturn of the markets that we've had with the corona virus epidemic. We got a long wick right before the market closed last week which lines up with a kumo rejection on the daily chart. For this setup I'm looking at a drawback back down to test major price structure support. We've got a good tight stop above the wick from last week and a pretty good risk to reward ratio. If we fail form new lows to trigger a sell or if we end up forming a long wick support candle, then this setup may become invalidated.
Short
by The808Trader
1
Exotic Drawback Setup: USD/MXN ShortWe're going exotic for this one! I am looking for a drawback setup here and I've drawn my entry at a break of previous price structure support. My overall target will be the flat Kijun sen that is forming, and I've marked up some price structure to targets to aim for as well. Since this is only slightly more than a 2x risk to reward, I'll be taking a smaller risk trade for this one. If we fail to break support, this setup will become invalidated.
Short
by The808Trader
More GBP Strength? - GBP/USD Ichimoku Long Trade SetupWe've got a little bit of a gap up here and I'm looking for a chance to buy on a slight drop. I've drawn my entry line at a potential support area that I'm looking for a drop to as well as support to hold to help confirm it's time to keep buying this pair. You can see my price structure that I'm setting as a take profit left on the left side of the screen. I'm setting my potential stop loss down at a flat kumo level that's acted as resistance in the past. If we fail to drop and hold support, this setup may become invalidated. 
Long
by The808Trader
Kiwi to Sour? NZD/USD Ichimoku Short SetupI am looking and yet another drawback setup. The kiwi is in the middle of a drawback currently and I am watching to see if we get a push all the way back up to our flat kijun sen level. If we do, I'll look for a rejection to sell back down to our previous price structure lows. I've drawn my stop loss above the wick that I believe would disprove this setup idea, and I've drawn out some partial take profit levels to aim for as well. If we fail to push any higher or fail to show signs of rejection, this setup may become invalidated.
Short
by The808Trader
Further GBP Push? - GBP/NZD Ichimoku Drawback SetupThis pair steadily rose last week forming some new price structure support along the way. We are currently in a drawback testing that support and i am looking for a chance to get long if we show signs of that support holding. I've drawn a potential buy entry I'm watching at our kijun sen and a previous structure support level. If we form a support candle or show signs of that support holding, I will get long. I've drawn out my target which is our recent price structure high, as well as a few partial profit levels to aim for along the way. If we fail to get a further drawback, or if support doesn't hold, this setup may become invalidated.
Long
by The808Trader
1
EUR/AUD Drawback Ichimoku SetupThis pair broke through resitance and the kumo last week to start a bullish run. We have a bullish kumo continuing to form and chikou span is above price and clear. I am looking for a drawback to previous price structure and kumo resistance to now act as support. If we can get the drawback to the entry level I've drawn and show signs of support, I'll get long. I'm targeting overall price structure highs to the left of the screen, and I've drawn out several partial take profit levels to aim for along the way. If we fail to get the drawback, support doesn't hold, or our bullish confirmations change, this setup may become invalidated.
Long
by The808Trader
1
EUR/JPY Ichimoku Swing TradeThis is a longer term swing trade that I am currently looking at. Price structure looks good and all signs look bearish, there are two ways to enter this trade. The more ideal of the two is how I've drawn it on the chart here with a drawback and resistance holding to push further down. The second way is to take a trade with a break below our current candle low. Taking the second style of entry lessens our risk to reward ratio but we still have plenty to give with the length of this setup so it will come down to personal preference. If we fail to maintain our bearish confirmations or if we get a major drawback past the resistance we're using for this setup, it may become invalidated.
Short
by The808Trader
1
CHF to Weaken? - GBP/CHF Ichimoku Long TradeThis pair finally broke above a resistance level we've had our eye on in the membership. Ideally we would get a drawback all the way back down to the top of that zone to act as support. If it holds then we would look to get long which is how I drew it out on the chart. While we could take a buy on a break up above our current candle wick high the risk to reward would be pretty low so I'll probably avoid taking that trade. If we fail to get the drawback and support to hold, or if our bullish confirmations change, this setup may become invalidated.
Long
by The808Trader
3
GBP Ready to Rise? - GBP/USD Ichimoku Long TradeThe pound made a big comeback last week and now we're testing the flat kumo. I am not interested in a buy until we prove that we can break up and above previous resistance which is where I've drawn my entry line. We have bullish confirmations right now but the bullish kumo is still in a weak area down and below the previous bearish kumo. We are testing and holding tenken sen, but also having trouble breaking through the kumo so we'll want to keep an eye on that battle and see how it plays out. If we can break above the previous resistance and kumo, then I've drawn out a few partial take profit levels on the way to my overall price structure high target. If we fail to get the breakout we need, or if our bullish confirmations change, this setup may become invalidated.
Long
by The808Trader
NZD ready to fight back? - GBP/NZD Short Trade SetupThis setup is pretty straight froward. I am looking for a bearish kumo breakout to validate a sell signal. Right now we are holding back above the flat kumo, so I need to see that level broken where I've drawn my entry level to help confirm it is indeed time to sell. I've placed my stop for this setup above the recent price structure Lower High. As usual I've drawn out my partial take profit levels on the way to my overall price structure target. If we fail to get that breakdown, then this setup may become invalidated.
Short
by The808Trader
USD/CHF Bullish Breakout ContinuationThis pair finally was able to break up and out of some major price structure resistance last week. I am now looking for a drop back down to that level to see if it can act as support. If we can get a decent support to form I'll look to get long at the level I've drawn as the push continues upward. I've drawn out partial take profit levels on the way to my overall price structure target and placed a tight stop a few candles back from the current breakout we're seeing. It could also be placed a few pips below the longer wick we see with the recent move up. If we fail to maintain support or if our bullish confirmations change, this setup may become invalidated.
Long
by The808Trader