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A Textbook Reversal Trade on AUDNZDNice break of the local structure level and retest. A reversal trade will never get a perfect than this. Have a look at the minor support level, the way price actions reject this level shows that there is some buying momentum was there and at the same time RSI also show an oversold and divergence suggesting lack of selling pressure. Since all of these confluences are aligned nicely, we can conclude that the possibility of market reversal is much higher at this level. So what happened after that? Price ended up breaking above the local structure level and this is where we placed a long trade as you guys can see, we were able to gain +2.84R from this trade and as a percentage, we were able to gain +1.42% from this trade.
Long
by RevenueTrader
EURJPY False Breakout Resulted in LossLook at the strong uptrend on EURJPY. It is strong and constantly makes a series of higher highs followed by higher lows. Finding a profitable trend reversal in these kinds of strong market conditions is hard and at the same time, it is much riskier as well. Therefore we should be careful in these kinds of market conditions. Now according to the above chart, you can see that the EURJPY was in a strong uptrend and the occurrence of the double top pattern clear shakes the bullish momentum and this is where we got interested in this trade. After the double price was never able to make new higher highs and RSI also shows a massive divergence indicating buyers are losing their momentum. Right after that price ended breaking below the local structure level confirming the market reversal. This is where we placed a short trade and as you guys can see, right after the trade entry, the price ended up moving against us and hit our stop loss for negative -0.5R, in percentage it negative -0.25%.
Short
by RevenueTrader
Momentum Dive Pattern On GBPJPY Shows Strong Selling PressureAt a glance, you can see that this is a breakeven trade and the process we followed to identify this reversal trade is totally identical to the other trades. Even though the process was the same, we cannot expect every trade to work in our favour. In trading, it is all about adapt our self to the randomness of the market. Now have a look at the above chart, first of all, you can see that the GBPJPY was in a strong uptrend. But suddenly a strong bearish momentum followed by a small sideway market indicates a sudden selling pressure that occurred in the market. In trade revenue pro we call this a momentum dive pattern. At the same time the RSI also showing a massive overbought and divergence. This indicate the lack bullish momentum and after identifying all these confluences, the price broke below the local structure level confirming the trend reversal. This was our entry criteria and as you guys can see we just went short upon the breakout and eventually price came back hit the stop loss for breakeven trade.
Short
by RevenueTrader
EURUSD Quick Reversal at the Daily ResistanceAccording to the above chart, you can see that the EURUSD started to slow as the price approached the Daily Resistance level. The Ascending channel shows the lack of bullish momentum around the daily resistance level and RSI overbought and divergence even confirm that the buyers are running out of control and the possibility of the trend is much higher. And finally, as we thought, the price ended up breaking below the local structure level (blue zone) confirming the market reversal. This is our entry trigger and we were ended up placing a short order there, as you can see, the price eventually did push down and hit the take profit for 2.41R. Since we are risking 0.5% per trade, we were able to gain 1.20% on this trade.
Short
by RevenueTrader
1
AUDNZD - Inverse Head and Shoulders Pattern At Daily SupportTrading Confluence Price is trading around daily support level An inverse head and shoulders pattern at the daily support level indicates the lack of selling pressure RSI divergence confirms the lack of bearish momentum Trade Forecast At the moment all the trading confluence align at the same support level which comes from the daily chart. If we price break and close above the local structure level marked in the chart, we will consider going long targeting 1.05747 level. Head over to Trade Revenue Pro to Learn More About Trading Forex
Long
by RevenueTrader
GBPAUD - Will Price Break Above the Local Structure LevelTrading Confluences Price is at 4-Hour Support Level Price Broke Below the Local Structure Level But The Downtrend failed to Continue and Right Now Price Immediately and Strongly Pushing Back to Local Structure Level and If Price Break Above the Local Structure Level, It is a clear Indication That Telling the Ongoing Downtrend In Invalidated. Mojor Downtrend Line is Also Broken. RSI Shows Clear Divergence Trade Forecast We will consider going long if price break and retest the local structure level successfully. We will target the market target area for take-profit but if we face difficulties to achieve 2R from that level we will target the next structure level for take-profit. Head Over to Trade Revenue Pro to Learn How to Trade Forex Profitable Way.
Long
by RevenueTrader
AUDNZD - Head and Shoulders Pattern at Structure LevelTrading Confluence Price is at 4-Hours Structure Level Head and Shoulders Pattern indicate lack of buying pressure Minor Trendline is broken RSI Divergence Trade Forecast We will consider going short if price break below the local structure level (Blue zone) and looking to enter the trade on a retest of the local structure level targeting 1.06528 level. Head Over to Trade Revenue Pro to Learn How to Trade Forex Profitable Way.
Short
by RevenueTrader
3
CADJPY - An Inverted Head and Shoulders Pattern at SupportTrading Confluence Price is at a Support Level Which Comes from 4 Hour Chart. An Inverted Head and Shoulders Pattern indicate the lack of selling pressure Bullish Engulfing and Bullish Pin Bar indicate the buying pressure that builds on CADJPY RIS Divergence Trade Forecasr We will look for a break above the local structure level marked in the chart. If Price will break above and retest local structure level then we will consider going long on CADJPY targeting 78.999 target area marked in the chart. Head Over to Trade Revenue Pro to Learn How to Trade Forex Profitable Way.
Long
by RevenueTrader
4
NZDUSD - Head and Shoulder and Rising Channel in PlaceTrading Confluences Price is at Daily Resistance Level Head and Shoulder Pattern at the Daily Resistance indicate lack of Buying Pressure A Rising Channel After a Strong Bullish Momentum Indicate that on-going Momentum is Fading RSI Divergence Trade Forecast Consider Going Short if Price Break Below the Local Structure Level Marked In the Chart Head Over to Trade Revenue Pro to Learn How to Trade Forex Profitable Way.
Short
by RevenueTrader
1