Double top with RSI Divergence sitting at a point of structure. At market short opportunity.
Great risk to reward on this trade and another opportunity to get long and see if the market will retrace up to the daily structure at 129.66
Short opportunity up at structure lining up at a 61.8 retracement level. Stops above the swing high targets at the 127.2 ext.
Bull cypher completing at structure, a retracement before a potential trend continuation. On this trade I'll be using the cypher as an entry technique to get long looking for the bigger move.
Bearish Cypher completing at a pull back, could be used to enter a trend continuation trade.
A bullish Gartley completing at 1.07601 Targets: 38.2 & 618 Fib retracement of the A to D leg. Could look for extended targets up at structure which will be a breakout of the channel.
Not knowing which way the market will take us we need to be able to identify potential trade opportunities for going both long & short. IF price action takes us higher there is a nice selling zone with a cluster of Fibonacci retracements and extensions which line up with a strong structure level giving us that high probability reversal zone. For shorts, IF we...
The EURUSD could potentially be setting up for a bearish bat pattern completing up at 1.1398. Up at that same Fibonacci entry level 0.886 there is a fib extension 1.618 giving us a point of confluence
With the USDCAD holding at a weekly resistance level price action has produced a double top with bearish divergence. Also hidden within the DT we have a bearish Gartley pattern completing at 1.3974 Good risk to reward targets at structure.
AUDUSD 240M bearish cypher pattern completing at 0.7339 The pattern's D point completes slightly above it's B leg making it a valid pattern. Good risk to reward, two targets at the Fibonacci retracement levels 38.2 & 61.8.
The AUDUSD is resting on a self of support with numerous failed attempts to break that level. The RSI was oversold followed by two higher lows giving us bullish divergence. An opportunity to get long with a higher close candle with initial targets at structure & extended targets at a Fibonacci extension 127.2 or the 161.8 which lines up perfectly with the...
IF price action pushes higher past our B leg of the cypher pattern THEN we can look to get short at the D point 122.79. However IF price rolls over creating a new low & puts in a LLLC THEN the cypher pattern will be invalid and we'll look to the next trading opportunity. FOMC news out tomorrow.
A trend continuation trade lining up on the GBPUSD with a bearish cypher pattern presenting itself as an entry method. The advanced patterns D completion point comes in at previous structure which has been tested numerous times giving us a stronger reason for getting short. First targets here could be at a retest of the structure lows looking for the fib extension...
The GBPAUD is a good trend continuation opportunity as we can see two previous support levels which should now become resistance. Price action completes it's retracement back up to structure with an ABCD pattern along with a 127.2 Fibonacci extension up at that same level. A more conservative entry will be to wait and see if the market gives us a double top or a...
The Nzdusd meets the ratio's for a valid bullish cypher pattern on the 240m timeframe. Not only is the pattern tradable as the pattern itself but it completes at a structure reversal zone which allows for potential extended targets. Initial targets at the 38.2 and 61.8 retracement levels. Stops below the X leg.
With the market moving downwards creating a shelf of support turning into resistance we have a second test with a bearish cypher completion point sat just a touch higher at 1.5083. A good reason to enter into a short position expecting a trend continuation move potentially looking for extended targets at the 1.272 fib ext if the market will push lower.
The EURAUD pushed higher today completing the bearish Gartley pattern at the 1.272 Fib extension level. Although price has come down to test a recent minor structure level which also happens to be at the even handle 1.5700. There still maybe an opportunity to enter if price action moves higher for what would be a third test of the 1.5751 level. Depending on each...
Using the If / Then thought process to prepare for the next potential trade set up on the 240m timeframe. If the double top identified prior to this post struggles to break down lower and instead heads for new structure highs then the next opportunity to get short will be the advanced pattern. The bearish bat pattern's D completion point is at 1.5590 just shy of...