AUDJPY just broke out of a square consolidation pattern. Made a strong move upwards followed by a retracement back to rectangle structure. Price put in a solid green bar right at structure, will be waiting for price to return for a double bottom before entering long. Watching top of larger upwards channel for TP
Recorded a video of this trade to my Synidcate members earlier in the day but ran out of time to post this before my Live Room started. But with not a lot on my radar this morning AUDCAD was a pair that really stood out to me. Not only has the market put in a beautiful double bottom along with bullish divergence and the RSI being oversold. But we're also right at...
Reasons for entry : - Double bottom - Rsi divergance - Harmonic move - ALT AB 141.4 SL : - Below PRZ, TP: - Retest of structure Comment : Very good risk rewrad ratio
Yesterday I posted a chart looking at a bullish Cypher pattern on the NZDUSD. After a move to hit profits during the London session, price action has sharply retraced back into support presenting a double bottom with divergence on the RSI. If this level can hold I anticipate a rally up to at least the 8470 to 8500 level. With the same psychological level being...
This pair found support at 61.8% Fibonacci retracement of the last big swing high. This level was also a great bouncing zone in the past. Recently on the first bottom of the pattern, RSI was extremelly oversold. Action: wait for a double bottom to complete at that level and buy next candle if RSI bullish divergence is in place.
We note that Price has been on an uptrend from Sep 2012 to July 2013, where Price traded from 9,700 to 10,970. From July 2013 to July 2014, Price has been generally consolidating sideways, forming a major Triangle Continuation Pattern, We also observed a minor Double Bottom formed within the Triangle Continuation Pattern. Since price has currently broken out of...
Actually we see this nice simple structure and second time it spikes into previous structure support as you can see in the bigger picture. I am looking at lower timeframes to get an opportunity for a long trade with good risk-reward. The currency relation this week is 1.6 : 1 so that NZD can start to move up in thios area. Let's see :-) If it starts, take care of...
The Double bottom here on this pair is a little more rough then I would normally like to see but I like the response and the way that it is headed towards a .618 retracement. I have not shown stops and risk reward but stops can go above the high point in between the peaks and by looking left you could have an earner up to 70 pips.
Great spot to look for a reversal play. Up against structure with a great stop areas.
I'm a little late on getting this idea posted, but we had an abundance of advanced pattern trading opportunities setting up as my live trading session came to a close. Some have since rallied and some have been stopped out. This particular one is still at market and for those who like to take more of a conservative approach, may be putting in a retest of structure...
Currently watching closely this pair as it made a double bottom with divergence. I'm waiting for price to go above the "V" top and retrace to the 61.8 Fibonacci level to go long from there. Good luck, I will try to update this later.
This morning I recorded a video looking at a bullish Gartley opportunity that I missed. By the time I got my orders in price action had move well beyond the original entry point offering a much better risk/reward. Hours later we are still holding on tot he very last bit of structure and are attempting to put in a double bottom depending on the close oft his...
2618 TRADE SETUP: * Wait for price to break the resistance near 101.800 and then wait for the 61.8 retracement to get long. Cypher: * Be aware of how far price goes before retracing to the 61.8 level, as it may complete a Cypher pattern, in which we would have an opportunity to go short from there and then take the 2618 setup to go long. If price completes the...
Opportunity to jump on a long NZDUSD position. Very nice risk/reward here. There is a bit of structure but not a lot.
Clear Double Bottom; Less than clear triple bottom on daily chart. News released on 15:22 today caused a nice move into close. There was a low volume selloff to close at .0140 red on the day. I will be watching for a strong open and break of .0150 area on volume to break above down trend line. Or a possible weak open to wash out and test .0125 support area...
EG is coming to a weekly level of demand which also holds 61.8% Fib from 08/09. It will also be a big double bottom possibly so I will look for bullish divergence nearer the time. This could also be seen as a big bull flag. Even as it is the RR is good with a 1:3 minimum if you take it to the first fresh supply level but potentially this could go much further,...
Based On: Structure, Fibonacci levels, Channel, Stochastics, RSI, Momentum.. IF EUR/USD Reaches 1.3648. Economic Calendar events will effect this heavily, i am looking forward to a volatile day (TODAY:EUR Interest Rate, Decision, ECB Press Conference, US Nonfarm Payrolls, US Unemployment Rate, ISM Non-Manufacturing PMI ) If these events will be positive...