Hey guys! Found a good retracement back into the resistance level inside a channel! Good short all the way down to the end of the channel maybe? Good luck guys! Let me know how it turns out! Oh yeah! There is a volume divergence on the 15 min chart! Just more info to give a clearer picture :)
PRO'S - Recent head&shoulders pattern - Retest of neckline after head&shoulders pattern (green line) - recent retest and rejection of monthly trendline (red line) - bearish MACD divergence - Stoch RSI signally oversold on monthly chart Trade fits my trading style to enter short. Targeting 0.74000 for roughly 4% profit, always risking 1% THOUGHTS ON THIS?
-NEW SIGNAL- Night trade. ( Small risk trades ) Date 23.5.2016 Time: 0:45 GMT +1 Pair: GBPAUD Sell limit at: 2.01048 ( 52 pips ) Stop loss: 2.01700 ( 63 pips ) Take profit: 1.9800 ( 300 pips ) Risk reward: 1:4,7 Our risk: Touch trades = 0.25% Possible nightly spikes. If trade will not be open in 10h cencel it.
it seems that we are attempting to breakout of the channel. sadly we cant find a perfect trendline for this channel so the trendline that im using is an aproximation of all swings and what fits them the most. thats why I wanna see the market a little higher first before and I will probably still sell the gartley due to the market being so downtrendy recently....
Here we have the daily chart following the monthly. This chart clearly shows the retest of long term Counter-trendline and also rejection off the 61.8% fibonacci level. Waiting for the daily TL will provide the optimal risk:reward to go short.
Here on the monthly chart for Crude oil we have a clean retest of the long term broken counter-trendline after a break and pierce through the 30.00 level. There is also a daily 61.8% (golden ratio) retracement which adds to my short bias.
last time we reached this area i already posted an idea (link below) that worked out. now we retested this area once again. i didnt go short right away since an extention beyond the white box couldve also been likly - in an abc type fashion - but now that we formed a doubletop im onboard looking for shorts. first scenario would be seeling some sort of neckline...
last week i posted an idea regarding the orange gartley at a major support zone. after taking small profits we then broke that very support zone to the downside. now we retested this area in an ABCD like pattern and already saw a decent rejection. the overall bias is still towards upwards reversal (check out old idea for reasons) but that doesnt mean that we cant...
Hey guys! NZDUSD has been retracing and it has retested a big trendline's resistance and the Double Top pattern that I found a few days earlier! This means it might be a good short should it rebound! Currently waiting for the 4H candlestick to show a rebound before I enter! Good luck guys! For those wanting to see the retracement happening on the Hourly chart:
We recently broke out of a downward channel. only to come up retesting the most recent big structure level with a cypher pattern formation. since we broke the channel to the upside, i wanted to wait for some confirmation in that area before goin short. and it seems that (after consolidating over night on the 15m) now the breakout to the downside starts to happen....
Im currently still short in NZDCAD based on swingtrade setup i posted last week (check out idea below for overall view of the market) but as the market struggles to go down im looking at this daytrade long to potentially hedge myself against a loss. setup is pretty easy. we have a gartley that almost perfectly retests the trendline zone formed by the 4! most...
PROS - Retest of strong support on monthly - Stoch RSI showing overbought on both monthly and daily - Slight bearish MACD divergence on daily chart - Head and shoulders pattern forming on both weekly and daily Waiting to break neckline at roughly 0.77500 before entering short. THOUGHTS? THUMBS UP IF YOU AGREE
Pretty straight foward setup i guess. keep in mind tho. that the green dashed channel might just be the A of an bigger ABC correction, so be carefull with trendcontinuation targets below last moths lows. i personally only look for a 1:1 here. i guess you can also wait for a pattern here to compliment the entry. there are a couple of possibilities.
NZDCAD has been slowly trending downwards this year. now once more we have a chance to hop on board. im looking for a sell at the 618 retracement of the most recent downmove - hope we can get up there. stops at least above the small swing. you can also go short now but i stay patient for better risk reward - or better targets.
retest of previous ascending trendline which was broken.. expect prices to bounce and continue going south
USDTRY is trending down(at least on this timeframe), i think thats not too hard to see. i already traded a few of those swings. im looking now for another sell at the retest of the trendline. im already short, but i think you can still go in here. or wait a little more for some reversal signals. im goin for a 618 retracment as TG1 for 1:1 and then some sort of...
EURAUD has formed a shark pattern that retests a very important zone for this pair in recent history. Since we didnt come up quite as much into the zone as i wouldve liked im not yet in this trade. however, if we can confirm the doubletop like structure on the lower timeframe by making new lows below it, i will hop on. with that confirmation you have the option to...
Currently looking at gold. im already short abit here but looking for further shorts if we can retest the "minor" structure box. idea is to short there and trade it down to the bat pattern completion point to then go long again. stops should go above the most recent "lower high"