Here on the EURGBP i see a good counter trend trading opportunity by combining the facts. We have a triple top with RSI divergence and we also have some long wicks on the last test of this structure level indicating that there is some selling pressure up here around an even handle number at .73000 and these even handle numbers are worth paying attention too,...
Brief Analysis on USD/CAD, Price action presents us great level to sell. Check out my CTS : 1. 0.618 Fib Retracement (3) 2. 1.272 Fib. Extension (2) 3. 1.414 Fib. Inversion (1) 4. Previous Support & Resistance (3) 5. ABCD Pattern Completion (3) Total CTS score of (12), very reasonable place to go short, hope this idea helps your trading folks. Regards Fedro Christian
Hi, please find my thoughts on doing reversal trades. This is the pattern that i am looking for when doing reversals!
Potential counter trend Gartley at a good structure area, remember its strong counter trend so half position size is advised. Entry is just under horizontal support and stop at good structure area. RSI is reaching oversold so it looks like a verifiable buy but be careful. Entry, stop and target is as you know them. Kind Regard Thomas Jeff
This is a highly counter trend trade so be aware and use only half position. We got a double bottom that gives us our only support. So lets see if price retraces down to our entry and give us this small pullback tp our target. Be would very much like to see an oversold RSI in this case. Comments very welcome Kind regards Thomas Jeff
Idea is based upon Elliott wave theory supported by median line analysis. More info on the chart. Good luck.
A lot of my radar today going around my trading portfolio including the EURUSD. After being stopped out for a loss on yesterday’s bullish Bat pattern, we re-did our IPDE process and started making predictions for our next opportunities. I still don’t see a structure level that I’m a fan of on this pair that is until/unless we get down to the 1.1000 area, but the...
Just entered this trade on the short side. Last friday we saw a massive rally across most EUR pairs and for many EUR pairs that upward momentum has ceased. This is highlighted by the yellow box where the trendline angle has been broken. Been waiting all day for this entry and it finaly was triggered. Expected target is around 1.4290 giving it a over 90 pip ...
Forex is risky, beware of consequences if you trade on other people's ideas.
4Hr Knoxville Divergence + Trendline Break + Kings Crown Pattern After a bearish trend, NZDCAD has printed bullish Knoxville Divergence, broken a major trendline, and made new highs that present us with an opportunity to go long on a possible Kings Crown reversal pattern. A trading strategy for this pattern is explained below: 1. Determine a total position...
Bullish Bat Pattern here on XAUUSD that's looking to be putting in a double bottom at the completion point. (You may hav eone already on the LTF). I say looking because on this 4hr timeframe the current candle won't close for another 2 hours or so and as we all know the close is very important to the story that the market is telling us. If you take a look at...
Bullish divergence formed just before wedging. The 5m Murrey Oscillator candles are have also turned bullish for the 5m chart. Look for a move higher toward the daily pivot for 4/2. I took this pair long and placed my profit target just below the monthly pivot.
PRICE AT AN IMPORTANT KEY LEVEL AND JUST BOUNCED OFF THE RESISTANCE TURNED SUPPORT FORMING A DOUBLE BOTTOM. ALSO THIS KEY LEVEL IS IN CONFLUENCE WITH THE 0.5 FIB LEVEL. GBP AVERAGE HOURLY EARNINGS IS EXPECTED TO COME OUT BETTER AT 2.2% AND THE REASON WHY THIS IS IMPORTANT IS BECAUSE THE BOE (BANK OF ENGLAND) SAID THEY'LL BE MONITORING HOURLY EARNINGS DATA. IF...
TP : 185.1 SL : 187.6 / sell position is confirmed only if H4 closes below 187. afterwards enter at possible retracements around 187.26. This is a countertrend trade only for risk takers as overall bias is still bullish. Exit the trade at 185.1 and look to enter long once d1 confirmed bullish pin bar / bias at 185 region. RISK REWARD 2.5
The current move in EURUSD feels like exaggerated / capitulation move. Time to try a long for a retracement. RISK management is #1 Trade reasons: EURUSD pushing past daily S2 - 1.2715 EURUSD pushing past weekly S2 - 1.2710 EURUSD pushing past monthly S3 - 1.2713 EURUSD is -9.30% in less than 2 month without any significant retracement. 1.2743 low was taken out,...