It is crucial to have a good grasp of how to interpret the market before making any trades. Although the current pound dollar movement leans towards bearish, the weekly chart indicates a positive trend. To capitalize on this, trend traders should sell, while counter-trend traders can take advantage of a shorting opportunity at 1.2317. The buy zone lies...
King W. Harbmayg's Journal Entry #33 Lesser Position— 1:5 R Scheme 1— Thesis via 15M a. who is currently in control of the market? buyers b. is the market currently in its pump phase? yes ________________________________ Scheme 2— Execution via 1M a. is the market at a significant price level? yes b. execute.
The AUDUSD's prolonged bearish journey has sparked interest among traders seeking a potential rebound. However, it's vital to remember that market dynamics don't always adhere to expectations. For those exploring counter-trend opportunities, the presence of an over-extended Bullish Shark Pattern accompanied by a Bullish Trendline forms an intriguing combination....
In the realm of counter-trend trading, NZDJPY emerges as an intriguing prospect. Keep an eye out for a bearish shark pattern, poised for completion at 87.69. However, exercise prudence and wait for the magic candle confirmation before taking action. Remember, patience is the bedrock of consistency and profitability in the world of trading. 🕰️💹
The overall outlook for USDJPY leans towards a bullish trajectory. However, this week's strategies are tailored for counter-trend traders. For position traders, keep an eye out for a potential Bearish Bat Pattern forming at 149.28. Exercise patience and await confirmation before making a move. Zooming into the 4-hour chart, an ABCD Pattern coupled with an RSI...
Ah, the good old days! This GBPUSD setup takes me back to my early trading days. The strategy? Simple yet effective: buy at support, sell at resistance. While some may view it as a scalping trade, dismissing it as low volatility, here's the kicker — there's a potential 56 pips in profit. 💰 My game plan? Patience. I'll wait for the next support retest, keeping an...
Diving into the EURUSD action, the weekly chart indicates a continuing bullish trend. 🐃 However, before diving into a 1-hour buying opportunity, let's pump the brakes for two crucial reasons: RSI Not in Oversold Territory ❌ Bearish Bias on 1-Hour Chart 📊 This pair now ranks as my lowest priority. 📉
📉 Monthly Chart: - Support at 0.6160, but no end to bearish trend. - Consider countertrend moves carefully. 📉 Weekly Chart: - Market near resistance, but don't miss the bigger picture. - Be cautious with countertrend trades. 📉 Daily Chart: - Strong bearish movement. - Market shows weakness at previous resistance. 📉 Four-Hour & One-Hour Charts: - Potential...
📊 Weekly Chart: Overall bullish, but watch current candle. 📈 Daily Chart: Bearish movement, key level 1.0766. 🕓 Four Hour Chart: Sensitive period, focus on 1.0766. ⏳ One Hour Chart: Multi-timeframe analysis. 🔍 Higher Timeframes: Confirm breaks below key levels. 🚀 Aggressive Short Opportunity: Wait for trend line retest. Look for break below 1.0705 or 1.0651. 📉...
Despite the prevailing bullish movement on Dollar Yen, a shift in strategy beckons this week. Embark on this journey with me. On the weekly chart, a slight break and closure above the prior high is evident. The magnitude of this "bit" rests upon your filters – will the subtle breach be overlooked? An RSI divergence, however, raises concern. This divergence...
The USDJPY trades with choppy price action between the 145 and 146 price range. With increasing comments about the weakness of the Yen and the possible invention from the BoJ, the longer the USDJPY stays at this price level, the higher chance we are likely to see an intervention. However, we cannot rule out a continuation of the upside, especially if the DXY...
Let's debunk some headlines like "The Dollar is Bearish!" and dig into the real chart dynamics. On the weekly chart, a bullish trend is evident, despite a retracement that might seem bearish. Always consider the bigger picture. The recent retracement is a mere blip compared to the overall uptrend. 🔍 Key Levels to Watch 🔍 Zoom out and observe the retest happening...
Greetings, fellow traders! Let's delve into the Euro-Dollar trends and identify some potential trading opportunities. 🌍💱 📊 Weekly Chart Insights 📊 The bullish trend continues with a notable pullback, keeping our attention on the upswing. The market's pullback has tactfully avoided breaking crucial support at 1.0637. Transitioning to the daily chart, we find...
We are still in downtrend, but still a lot of buy orders residing in the blue demand-area. Expect 50% FIB- rally from last high-low, followed by pullback to demand-area and then explosive upward move to upper supply.
🦈📉 Bearish Shark Pattern with RSI Divergence 📉🦈 Finally, the trade I've been patiently waiting for on EURJPY is here! 🚀 This one calls for a shorting opportunity, treating it as a pullback trade, a retracement trade. Now, it's time to keep a close eye on how the market reacts when it reaches our first target at 154.25. 🎯 If the market respects this level and...
📉🚀 Nasdaq on the Verge of Retracement - Bearish Shark Pattern & RSI Divergence Pointing Downward! 📉🚀 I've spotted a Bearish Shark Pattern with RSI Divergence on the Nasdaq, signaling a potential retracement ahead. I've entered the trade with precise stops and targets in place. Let's keep a close eye on how it unfolds. 📊 If this trade turns out profitable, brace...
If you're planning a trip to Australia in the next few months, consider changing some Aussie dollars now. For counter-trend traders, it's a great opportunity to look for a buying opportunity in the AUD. Let's analyze the charts! 📊 The market hit resistance and is now in consolidation, making it a concern for buyers. The daily chart shows an M Formation, with the...
In my journal, I'm noticing GBPUSD made a new lower low on the 4 hour timeframe. Although price in in an uptrend as clearly seen on the daily and weekly timeframe, any sells taken will be a countertrend trade. I prefer to trade down to my weekly estimation zone 1.27585 and entering on the 4 hour timeframe to keep the stop loss small. Trade at your own risk and...