CADJPY exhibits a confirmed Bullish Shark Pattern on the 1-hourly chart, prompting my engagement in the pattern. However, my attention is focused on the critical 108.55 level. I'm closely monitoring the market's behaviour around this level. A preferred scenario would involve a break and close above 108.55, signifying potential bullish momentum. What's your...
Despite GBPUSD showcasing a bullish trend, I'm eyeing a shorting opportunity on this pair. The daily chart signals the completion of a Bearish Bat Pattern, yet a direct engagement at this level poses considerable risk. To mitigate this, my strategy involves patience, awaiting a market retest on the 1-hourly chart. Coincidentally, this timeframe also displays a...
FX:GBPJPY Overall structure based on the weekly, daily, 4h and 1h, hence i have a bullish bias on GBPJPY. Price was countertrending and eventually broke and closed above 187.275 1H key support area and also broke countertrend structure and made a retest what is now 187.275 1h key support area. a bullish engulfing candlestick on the 30min and also a double bottom...
I've identified an intriguing counter-trend setup on NZDJPY, which showcases alignment across the Weekly, 4-hourly, and 1-hourly charts, all converging around the same entry point featuring Bearish Shark Patterns. A notable aspect is the different starting points of the Shark Patterns across these timeframes, culminating in an intriguing entry zone. This...
NZDJPY presents an intriguing trading setup despite being a counter-trend trade. The observation of a Bearish Shark Pattern checkback on the Weekly Chart , along with RSI Divergence , adds weight to this potential trade opportunity. I'm waiting for a shorting opportunity on lower timeframes and, specifically, looking for a 1-1 trading setup , intending...
It appears EURUSD is currently within a Weaker Bull Trading setup. For trend traders, waiting for a counter-trend opportunity might be a potential strategy. Counter-Trend Traders, here are two considerations for your approach: As the market resides in the supply zone on the Daily Chart, waiting for a double top formation coupled with RSI Divergence could offer...
A retest of the Bearish Gartley Pattern, especially on a Friday, presents an intriguing opportunity. Waiting for candlestick confirmation before initiating a short on the Gartley pattern aligns with a counter-trend trade strategy. This cautious approach can often mitigate risks associated with abrupt market movements. Good luck with your trade and stay...
15min and 4h timeframes following an uptrade have a potential do actually not configure a bear div/break supports. in such case we should look for bear divs developed before such developments.
after 4h bear div likely retracement chances in lower timeframes
We expect further upside on this pair, signalled by the breakout of the counter trendline. We can also see the breakout, close and retest of price above a key level further supporting our directional basis.
GBPJPY currently positions itself at the Bearish Shark Pattern. While the pattern is not yet confirmed, aggressive traders might be tempted to seize the opportunity early, either to ride the potential high or out of fear of missing the move. It's important to note that a shark pattern could offer as many as three entry points. I'm intrigued to know your trade...
Last week, I issued a warning: "it's not a good idea to short the USDJPY!" Despite months of anticipation, the bull run on USD is not yet complete. If you're still waiting for a shorting opportunity, keep an eye on the 4-hourly chart for the development of the bearish shark pattern—a potential entry point for this counter-trend trade. Now, let's discuss trade...
GBPUSD currently exhibits a Weaker Bullish Trend on the weekly chart, introducing interesting dynamics. On the 1-hourly chart, a bearish shark pattern emerges, presenting a counter-trend trading setup. Simultaneously, the 4-hourly chart showcases a bullish bat pattern within the buy zone. My preference in this scenario is clear—I favor the bullish bat pattern on...
EURUSD is currently navigating a weaker bullish trend on the weekly chart, adding an interesting layer to the market dynamics. On the daily chart, a bearish flag pattern setup unfolds, creating an intriguing scenario. Furthermore, the 1-hourly chart reveals a bullish bat pattern, while the 4-hourly chart showcases a bearish bat pattern. In the week ahead, I'm...
Hey guys! It's been over 100 days that IoTeX has been in a downtrend. This could be yet the bottom to be confirmed. We need a good breakout of the trendline to the upside with nice strong volume otherwise this could go back into ranging more for a long time or even continue falling despite the bullish bounce off this key monthly level. TRADING PLAN AS FOLLOWS:...
The Bearish Fib-3 Bat formation on the Weekly chart certainly catches the eye, particularly with the presence of a long-shadow candle. However, it's important to acknowledge that the trading setup remains unconfirmed. Waiting for confirmation may entail missing out on potential profits, to the tune of 200 pips. Here are some strategic considerations: Option...
The overall setup for EURUSD leans towards a Weaker Bullish stance. However, given the impact of Friday's NFP Candle, I anticipate a series of correction moves in the upcoming week. Therefore, I'll be ready to execute whichever trading strategy emerges. Potential Strategies: Daily Chart - Bearish Flag Pattern: The Potential Bearish Flag Pattern is...
The AUDJPY currency pair has been in a bullish trend since late March, commencing at the level of 86.065. As of the current analysis, it seems that the pair is undergoing a corrective Wave 4, indicating a countertrend phase. This correction is composed of subwave A and subwave B within the larger context of Wave 4. Presently, the pair appears to be in the process...