1st of all thanks for all of the great feedback on my recent article in FX Trader Magazine. You guys are great!!! Now to the charts! GBPUSD is making it's way down to a key decision point level. I call this level a decision point because how I decide to trade this will be determined on what type of decision is made by price action at this level. If you've been...
Potential Trade on AUDUSD Break of Trendline and Support Level Support turns to Resistance with Retest Fibs Lines up with other Sup/Res Levels Pending Sell Stop Order at the Low of the Retest Break of the Low and it Triggers and I'm In If Low is not Broken.... NO TRADE Re-Analyze Technicals... Possible Buy Order if it doesn't Break Low..
A nice bearish countertrend opportunity here, and a potential Cypher. The textbox explains the rest. Will be taking traditional AB=CD targets.
Thought i would shoot this trade out it´s been a long time since i published a trade. It just went live on the USDJPY, it´s a Harmonic fib bat pattern against the major trend, but with new bullish momentum at our lower timeframe entry. RSI just hit our oversold condition. Our completion rate to T1 on this pair is around 63% so let´s sit back and wait Kind...
Potential Reversal Zone at 2.1236 with potential targets at 2.1640 and 2.1885. For the brave souls that choose to take this trade, stops should be below the 2.1075 level.
- GBPUSD has just ran into a Major Support Level - We have an Open Gap well above us - If I can find a reason to get long then I will - Right now I'm looking for a Double Bottom to occur on the Lower Time Frame Target #1 - Next Level of Resistance Target #2 - Gap Fill Stops - 1 ATR Below Double Bottom (if we get one)
The Potential Reversal Zone on this butterfly pattern is right above a previous major low. Because of this the risk is tiny compared to the reward. (1:10 for target 1), (1:18 for target 2). Entry at 27.74. Stops below 27.56. Potential targets at 29.95, and 31.37.
We see an opportunity to get long on the S&P 500 daily. Right now, price is around a weekly support/congestion level around 1825 that has formed a double bottom. This area shows to have acted as both support and resistance in the recent past, seen clearer in line charts based off the closing prices. My oscillator is showing bullish divergence on that double...
For those looking to get short the EURJPY we have a potential double top and/or 2618 opportunity setting up. Looking left, price action has made its way back into a previous level of consolidation where the bulls were rejected and are now looking to test for a second time. The two trading opportunities that exist at this level are a double top sell at the candle...
Just a quick follow up from the trade I shared with you guys in last night's video looking at a trend continuation opportunity on GBPUSD. As the market established a double top overnight, counter trend traders will also have an opportunity to involve themselves in a 2618 trade as well. Make sure you check out yesterday's video for an explanation of the TCT...
After being stuck at the "D" completion point of a daily Bat pattern completion we've finally seen a break to the upside on this pair. We've not run into higher time frame (HTF) structure and I wouldn't be surprised if we saw some relief in price action. This trade setups offers something for both counter trend and trend continuation traders. For the counter...
Eur/Aud has a potential 2618 trade setting up. This pair has a really wide ATR, but if you can handle this much risk in your trade plan, this could present a great opportunity
Current trend on 15 M here on EURUSD is still bearish and we can take a potential trend continuation trading opportunity. If price extends higher it could form a Double Top right at structure level - this could be nice opportunity for those of you who are more conservative. If price falls lower then we will have a an advanced pattern - Bullish Cypher, we would...
EURCAD has been trending upward for a couple of months and has recently shown signs of weakness and a potential reversal. The 5-0 pattern is a great way to enter on the reversal. The entry is placed at 0.5BC which is confluent with the completion of a bearish bat pattern. SL is placed above structure highs and .618BC. Targets are placed at BC terminus,...
FX:USDCAD USDCAD hitting long time resistance forming a Hanging man. I entered short with a tight stop above the resistance area. If I am wrong, then I will be wrong quickly. Potential profit target is at 6R targeting the previous upswing.
A short term long trade/counter trend trade on the 4 hour time frame taking cue from Stochastic bullish divergence and an inside bar at support and price hitting the 1.272 Fibonacci extension level. A possible pull back into previous resistance is likely where profits may be collected.
Potential for a bullish butterfly completion at a major daily structure level. Giving almost 2.5:1 on target one and more than 3 1/2 to 1 on target 2. If this setup falls under your rules, its definitely something to look out for.
Price action on the Euro ended up rallying right up to the previous level of resistance that we predicted. Although we didn't see the full trend continuation move that I had on my radar advanced pattern traders were able to take advantage & profit from a pain free bearish bat pattern completion. Price action has now given us a HHHC about previous resistance...