We are currently watching price forming and indecision candle on top of a major support area, so I'm looking to buy above the indecision candle with target at next resistance level around 0.7835 and possible a Bat pattern completing ahead, so a great opportunity with low risk and a good +4R. Good trading everyone!
Following the price-action at resistance. Shorting at the end of the current candle if it turns to be a pin-bar.
I am adding 2nd short entry here, please see related idea for the bigger picture. I think bulls had their chance 2 times so far, price might head south from here, I would use a stop above 1.5 for this one. all based on price action and current behaviour this is not a set and forget setup. I would wait for 4hrs close before taking action - worth watching
Yes, I do have a Meerkat. Head to the application, download it and when I go live you will get notification. I am looking for any voice who would like to have their stream over on Chart.Chat.Connect, until we can get TradingView to see the demo. Thank you so much.
The first price action canceled an attempt of fakey setup.
AUD/USD Short : The trade is already in the initial stagesof taking profit but there is much more room for pips to the downside. Twin peaks/ double top resistance (highligted in yellow ovals) are confluent with the 4hr Fibonacci retracement at 61.8% and indicates a continuation of the bearish trend to 3 targets, as shown on the chart.
Google has been playing with harmonics last few months. Everything is on chart but I will still explain it. Gartley completed and reversed right after a slight touch of the PRZ. The price didn't really touch the first target but the PPZ (Profit Protection Zone) covered the position with a small profit right before the continuation of the predominant trend. The...
I'm not usually a counter trend trader but came across this ABCD pattern on the EURUSD Weekly chart. Price is currently at the low support line from 1994 1.11. I'll be watching it next week on the daily chart looking for a double/triple bottom. It may continue slightly further to 1.08 support also. Looking for a strong confirmation of reversal before entering....
After a retrace for a while, 2bar reversal confirm that downtrend will continue
As we can see, GBP/USD tested a Key resistance point and form a Pinbar, Expected to go short
As we see, USD/ Cad form a daily 2bar reversal on daily, and expecting to go next resistance level
Hi all, Potential short trade setting up on EUR/NZD. See chart for description. www.tradingwhales.com
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The pair after a strong move down has been in a corrective consolidation forming an ascending channel. If anything this pattern tells us is that the pair is not finished picking its bottom. Also, looking closely at the price action on the 4 hour chart, we can observe the evident struggle on the pair already with more rejections from the top as it reaches the 38%...
Gold has been in a descending channel for a really long time and currently it has bounced back down from the resistance of the channel. As the price action has strongly stayed inside the channel without any signs of strength to push for a breakout on the higher or lower end, a short is a viable idea on gold with targets at half way point from the resistance while...
AUDUSD has headed up into a strong resistance on the 4 hours and also a key level on the daily chart which adds up to the strength of the level. The double bottom launched a rally of about 150 pips with a nice risk to reward ratio, giving a chance for a small counter trend play before a possible breakout. A short on the pair upon signs of any weakness is a very...
On this 4H chart I'm looking for the retest of the mid-channel line followed by a retracement between the 1.2410 and the trendline pointed to by the blue line. That is where I will likely go SHORT to 1.23610 area. The Russian eco kind of through my game off but I believe the EURUSD will get back on it's main course. Just in case: If I see some nice price action...