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! 🚀
Type2
GBPUSD: A Cautionary Tale of Potential Bearish PatternsWhile the daily chart shows a potential Bearish Butterfly Pattern, my experience suggests this might not play out as expected - or it could be a significant warning sign for traders.
If you're considering shorting GBPUSD, I'd recommend a type 2 retest on the Bearish Deep Gartley Pattern at 1.2756 as a more reliable entry point.
Share your thoughts and trade plans for GBPUSD in the comments below!
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''
USDJPY Analysis: Bearish Fib-3 Bat Retest Analysis:
- Trading Setup: Bearish Fib-3 Bat Retest
- Entry Zone: Identified at Bearish Bat Retest or Key Resistance Zone
- Signal Confirmation: Supported by RSI Divergence
- Trading Expectation: Expect potential stop-outs on lower time frames
Trade Plan:
- Short Opportunity: Aggressive traders may consider shorting USDJPY at the identified retest zone
- Risk Management: Plan trades in advance and adhere to rules that invalidate the setup
Your Thoughts?
Are you considering a short position on USDJPY? Share your insights and trade plans in the comments below!
📉 Remember to trade responsibly and manage your risks effectively! Trading involves inherent risks and requires careful analysis.
Bullish Bias on GBPJPY1. Bullish Bias:
- I have a more bullish outlook on GBPJPY compared to GBPUSD.
- Clear violation of the Daily Chart on both GBPUSD and GBPJPY.
2. Trading Setup:
- A Type2 Bullish Gartley Pattern on GBPJPY is the key trading setup.
- Aiming to go long on GBPJPY.
Share your insights and trade plans for the week. What's catching your eye?
Let's discuss and navigate the markets together!
EURUSD Type2 Bullish Shark Pattern - Two-Trade StrategyI'm pleased to share an update on the EURUSD Type2 Bullish Shark Pattern trade. If you've been following my TradingView post, you might have already profited from the first target, and now we're looking at a potential second target.
Here's the current strategy:
- First Target : Already Profited
- Second Target: Awaiting Fulfillment
In the event of a retracement to 1.0815, I am considering engaging in an additional long position.
This strategy involves a Double Bottom retest trade. Essentially, if the market retraces and reaches 1.0815, I'll enter another long position.
This way, if the market moves in my favor, I'll have two trades in profit. On the flip side, if the market goes against me, I'll have one trade incurring losses.
Feel free to share your thoughts and trade plans for EURUSD. Are you considering a similar two-trade strategy or have other plans in mind?
For a visual representation, please refer to the chart link in the TradingView post.
USDJPY Trading Plan: Bullish Shark PatternI'm maintaining my bullish outlook on USDJPY and currently eyeing a potential buying opportunity. Here are the details:
- Setup: Bullish Shark Pattern
- Completion Level: 150.09
It's crucial to note the presence of the Type2 Bearish Fib-3 Bat on USDJPY's Weekly Chart. While it signals caution, my focus is on the bullish scenario with the completion of the Bullish Shark Pattern at 150.09.
Feel free to share your thoughts and trading plans for USDJPY. Are you considering a long or short position?
Check the chart link within the TradingView post for a visual representation.
USDJPY Trading Plan: Fib-3 Bat Pattern Retest and Bullish ButterIn our current analysis of USDJPY, two distinct trading opportunities emerge:
1. Fib-3 Bat Pattern Retest:
- Timeframe: Weekly Chart
- Setup: The Fib-3 Bat Pattern type2 on the weekly chart has already provided a profitable opportunity, and a retest is anticipated.
This pattern has previously yielded a substantial 903 pips in 13 weeks.
2. Bullish Butterfly Pattern:
- Timeframe: 1-Hourly Chart
- Setup: A Bullish Butterfly Pattern on the 1-hourly chart, with an entry point identified at 148.78.
These setups reflect a mix of longer-term and shorter-term trading strategies. Share your thoughts and engage in discussions to enhance our collective understanding.
Type2 Bearish Gartley Pattern on 15 Minutes ChartAn intriguing trade opportunity has been identified on the 15-minute chart involving a type2 Bearish Gartley Pattern. While it may not appear significant on the shorter timeframe, looking at the Daily Chart provides a different perspective. Utilizing the Combo Trade Management System and targeting the first level of support can yield attractive returns.
What are your thoughts on this trade?
Confluence of Bearish PatternsCADJPY is displaying a confluence of bearish patterns:
1. Weekly Bearish Shark Pattern:
- Retest in progress.
2. Daily Type2 Bearish Gartley Pattern:
- Completion aligns with the Bearish Shark on the weekly.
The trader plans to wait for a confirming candle on the daily chart near the level of 110.37.
Share your insights and trade plans for CADJPY!
A Promising Bearish SetupI'm keeping a keen eye on what I consider a golden trading opportunity - the retest of a Bearish Shark Pattern coinciding with a higher timeframe Type2 Bearish 5-0 Pattern on the Daily Chart.
My plan is to wait for a retest around 184.15, aiming for a shorting opportunity.
What's your take on GBPJPY? Any strategies or thoughts you'd like to share?
Potential Bullish and Bearish SetupsThis week, GBPAUD introduces an element of confusion into the FX market.
On the Daily Chart, two opposing trading setups vie for attention. There's the Bearish Flag Pattern, offering a shorting opportunity, yet simultaneously, a Type2 Bullish Fib3 Bat Pattern emerges. With the right filter, one can discern which trading setup is likely to be the more profitable choice.
For those inclined towards a shorting opportunity, the Bearish Bat Pattern on the 1-hourly chart presents a viable trading opportunity.
Now, it's decision time. What's your pick? Your insights matter. Please share your perspective below!
Navigating the Weaker Bullish Setup
The EURUSD displays a Weaker Bull setup on the Weekly Chart.
Aggressive Approach:
Opting for an assertive stance by seeking a shorting opportunity.
Option 1: Daily Chart - Bearish Flag Pattern
Waiting for a retest at the resistance level of 1.0620 before considering a short position
Option 2: 1 Hourly Chart - Type 2 Bearish Deep Gartley Pattern
Awaiting a retest at 1.0584 as part of the shorting opportunity strategy.
I'm intrigued to hear your perspective. Which option resonates with you, and what's your rationale? Feel free to share your insights below!
Analyzing for Aggressive Shorting and Buying Setups!
USDCAD presents multiple potential opportunities, with a current focus on a shorting prospect.
Weekly Chart Influence:
The weekly chart displays a Double Top Retracement, guiding the overarching trading decision.
Approach Considerations:
While an aggressive trade might opt for an immediate shorting entry, I'm choosing a more cautious approach.
Short Trade Options:
Daily Chart: Eyeing a Type2 Bearish Shark Pattern for a potential retest at 1.3744.
4-hourly Chart: Noting a Bearish Bat Pattern completion at 1.3770.
15-minute Chart: Considering a Bearish Shark Pattern projected to complete at 1.3733.
I'm interested in your perspective. Which of these setups resonates with you, or do you have an alternative approach in mind? Share your insights below!
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.
My Bullish Bias RemainsUSDJPY Shorting Opportunity Looming, But My Bullish Bias Remains Strong
In the midst of a Type 2 Bearish Bat Pattern on the daily chart and a Bearish Shark Pattern on the 1-hourly chart, traders may be eyeing a shorting opportunity for the USDJPY. However, my bullish bias on this currency pair remains steadfast.
Rather than jumping on the bearish bandwagon, I am patiently waiting for a prime buying opportunity on the USDJPY. I'm closely monitoring a Bullish 5-0 pattern that could potentially complete at 134.71, presenting an ideal entry point for a long position. Stay tuned for further updates on this developing trade opportunity.
Second Chance to ShortTraders who missed out on the previous shorting opportunity may have a second chance at hand with the potential setup of Type2 Bearish Shark and Type2 Bearish Deep Gartley pattern in the market.
However, it is important to note that one of the downsides of Type2 setup is its unpredictability, and it may not always work.
To mitigate the risk, it is crucial to exercise patience and wait for a candlestick pattern confirmation before engaging in the trade.
Rushing into the market aggressively without proper confirmation could lead to unwanted consequences.
Unique Combo Trade!Probably a trade that has a 20:1 Reward: Risk trading setup.
On the 1-hourly chart, we have a Bullish Gartley Pattern that comes inline with our 4-hourly chart, the Bullish Shark Pattern retest and on the Weekly Chart, the Bullish 5-0 Patterns.
If I stretch the final target to the Weekly Chart completion, the returns would be stunning, but this trade could take up to 2 months or a month.
Furthermore, we might have more stop-out then hitting the target in 1 U-Turn, so it is NOT a trade for traders who won't afford to have their trade stop out multiple times and still looking for buying opportunities.
If you are thinking of risking more than you usually do; or you plan to follow the trade blindly; or even worst, not putting your stop-loss, this is not the trade for you.
As a full-time trader, I've been very patient to look for the trade that suits my profile and the trade I'm planning.
I couldn't stress any more by saying trading is more like a business than a job. It is not the number of deals you do, but the 1 you chose to take and the 1 you chose not to participate.
A 711pips of profits that could be yoursA 711pips of profits could be yours if you join our Weekly Wednesday LIVE Streaming Session on TradingView. Should you ask me my view on EURJPY and choose to engage the Bullish Deep Gartley Pattern at 138.17?
What happens next could be of better use to you, a Potential Bearish Flag Pattern trading setup.
There are 2 ways I would engage it.
The first way is to wait for a break and close below the current trendline, and I'll wait for a retest before engaging the trade.
Another way would require the market to rebound and pause on the higher trendline. That is when I will wait for a candlestick pattern confirmation before engaging the trade.
Bullish Wedge that worksThe Bullish Wedge pattern has shown a retest and respected the previous trendline. It is a good sign for traders who are looking for a buying opportunity.
Traders who are looking for buying opportunity might need additional confirmation, well, if you look right, the Type2 Bullish Bat Pattern provides you with the information that you need.
S&P 500: Bullish Butterfly and Bullish Bat Type 2 ConfluenceAfter a decent bullish type 1 reaction the SPX has come back down to the zone and looks to be showing moderate exaustion. If we can get that MACD to cross and the RSI to curl out of the oversold region we could very well see the SPX stage a rally before the end of this week or at the start of next week. That should take it to the true target of atleast $4120 or higher.