Beebags

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Hi there, There is a clear 2618 selling opportunity setting up here on EURJPY on the H1 timeframe. If you are not familiar with this strategy, the 2618 trade is a countertrend strategy. Jason Stapleton introduced me to this specific strategy in his free training. Only take trades that are in your PREDETERMINED plan. If you don't have a plan, please get one before...

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Hi There, It has been a while since I have posted anything to Trading View, apologies! I spotted this setup over the weekend and it seems to be playing out how I would expect. The new highs printed last week at 0.6850 indicate that this pair may move higher, or at lest retest last weeks high price of 0.6860. The red and green boxes show where I would be...

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Happy New Year All, Cypher setup coming up here on GBPAUD, see chart for position details. Good trading in 2016 and beyond! Luke

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Hi Traders, This setup is about 100 pips away from current price, so be patient for the entry. Last week was a great week for pattern traders, especially that EURUSD D1 Bat , so let's hope we can continue the run. I have been taking my entire position at first target (38.2% CD retracement) on pattern setups, I find that makes it easier to manage the trade and to...

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Very clear and simple 2618 setup here on AUDCAD. Nice second target confluence just above the 0.97 psychological resistance. Entry: 0.97770 Stop: 0.98230 Target 1: 0.97230 Target 2: 0.97020 Keep in mind that the 2618 strategy has a win rate of 55-65%, and a R:R > 1:1. Trade it if it is in your plan and you have done the backtesting on this strategy. Remember:...

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Hi Traders, There are two trade setups I have identified on this pair, one long and one short. The bullish 2618 setup is as follows: Entry - 1.33430 Stop - 1.32950 Target 1 - 1.33930 Target 2 - 1.34180 The bearish Gartley setup is as follows: Entry - 1.34010 Stop - 1.34450 Target 1 - 1.33670 (at the 38.2% retracement of the CD leg) Target 2 - 1.33440...

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Hi Traders, Here we have a small Bearish 2618 setup formed with current price very near to entry. I like this setup as in this particular case the short side is in the direction of the higher time frame trend. Entry: 130.080 Stop: 130.400 TP1: 129.760 TP2: 129.610 Luke

Beebags Updated 

Hi Traders, GBPAUD is forming a potential bearish bat pattern, with a D leg completion at 2.11200. At current price we are around 300 pips away from the completion. While this is quite a distance on major pair, GBPAUD has a large ATR and can easily move 300 pips in a day or two. Something to keep in mind. We have RBA rate statement later today at 3:30 GMT, so...

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Hi Traders, We can see that from the initial low put in early last month AUDUSD has been in a bullish rotation. The structure zone of 0.7160-80 has been respected on a number of tests recently. Therefore I think it provides a good trading opportunity with a decent R:R. For anyone trading Aussie this week keep in mind we have RBA rate decision tomorrow (Tuesday)...

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GBPAUD is consolidating in the range of 2.0870-2.0950. Traders should anticipate a breakout on this pair given the upcoming news catalysts for Aussie. Tomorrow we have RBA rate statement and decision, and on Wednesday Trade Balance data is released. This should be an interesting week shaping up, ending with NFP on Friday.

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The 0.72150 level has been critical for Aussie these past two weeks. Looking to the left we can see the level acted as resistance, and more recently after breaking above it has acted as support. Going into the weekend there are no more significant news releases, therefore I expect a quiet end to the week. A long off 0.72150 with stop below 72 provides a decent...

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2618 Bearish setup, in line with the longer term downtrend in Kiwi-dollar.

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Very clear H1 bearish double top formed, perfect setup for a 2618 trade to the downside. The only trade management that the 2618 requires is when price reaches TP1, we close half the position for profit and move our stop loss to breakeven. Otherwise we have our entries and exits in place and just let it run. Entry - 1.33210 Stop - 1.33831 TP1 - 1.32510 TP2 -...

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Hi traders, We saw a solid dollar rally late last week following the strong NFP result. The 270K+ figure will likely increase the possibility of a Fed rate hike in December (at least in many participants eyes). If we see Aussie rally, then I will be watching the 0.7080-0.7110 zone for an trend continuation opportunity to target 0.70 flat. Good trading. Luke

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The break and close above 2.1520 signifies to look for a trend continuation opportunity. The previous resistance zone of 2.1490-2.1520 will likely act as support on a retest of that level. This setup requires a large stop below the midrange structure I identified last week. Only trade if it meets your plan and risk allowance.

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GBPAUD has been consolidating for the past two weeks and has confined us to a wide range between 2.11-15. We can see the midrange structure acting as a key point of interest (shown with arrows). The multiple downside rejections and the descending channel indicate that we will see another push to test the highs of 2.148-2.15.

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EURUSD H1 Bull Gartley.

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2618 Setup on the H1. I recommend stretching stops a bit further out than usual, above the 139 handle. TP1 at 137.900, TP2 at the 127.2 extension.