Basic fib clustering technique combining multiple timeframe trend analysis to get high accuracy entries with a larger R:R.
Using the current 4hr bullish trend to enter a long trade on the ent higher low, Fib & TL bounce.
I am aiming for the target trend fib -0.27 extension to maximise reward:risk ratio.
The weekly timeframe outlines a bigger bearish flag pattern with already prior 3 touch confirmations followed by lower lows towards the bottom of the flag. Considering the approach towards the bottom of the channel we see a lower time frame (4hr) flag pattern which we can evaluate from the analysis I have posted above.
Trade active after the third touch...
Looking to SELL GBPAUD in SELL AREA and to close in Target Areas. Aiming to target 100+ PIPS.
Enter on reversal candle.
If price shows clear Strong Bearish break of price area 1.78600. Execute SELL.
My bias is short unless price breaks and retests our triple top level of 0.66830. Only in this instance will I go long upon valid confirmations.
There are 2 possible entries here, shorts will only be taken following the break and retest of 0.66350 or a rejection from the 0.66830 (Triple Top Level).
NO TRADE SHOULD BE TAKEN UNLESS THESE SCENARIOS ARE MET .......
AUDJPY - Intraday - We look to Buy a break of 72.16 (stop at 71.86)
The 423.6% Fibonacci extension level of the 76.28-75.13 move is at 71.40. A Doji style candle has been posted from the base. A bullish reverse Head and Shoulders is forming. Trend line resistance is located at 72.16. A break of 72.16 is needed to confirm follow through bullish momentum. The...
EURAUD - Intraday - We look to Sell at 1.6530 (stop at 1.6570)
Majority of the initial daily gains being overturned. Trades with a bearish descending triangle formation. Trend line support is located at 1.6400. Risk/Reward would be poor to call a sell from current levels. The formation has a measured move target of 1.6025. Further downside is expected although we...
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Talking about last week, next weeks ideas and some psychology insights behind the trades, Enjoy!
All ideas in video.