Currently heading north to a significant bounce point, it will tie in nicely with the outer Bollinger band. All I need at this level is the correct candlestick pattern and I'll jump in short with target 2:1 at recent low.
As predicted last week we saw a bearish breakout on the USDJPY. After hitting a previous level of inside structure support we started to see a retracement, followed by a bullish pennant pattern to close out our trading week. It'll be interesting to see what the JPY looks like at the open with all that's going on in the southern part of the US but assuming we see...
Hey guys, in front of you you see an hourly chart on EURGBP. The daily outlook of this pair brought me to such lower timeframes: we have a daily resistance here that could push price lower and we're moving in an overbought condition on RSI. This gave me reasons to believe it could be a reversal when i saw the retest failed at the first touch of that previous...
Gold is currently moving higher however, looking at the daily chart , we can see that the last down move on gold created a lower low. While that lower low was not significantly lower, it is still a sign of weakness & should be noted. We learned in Section 1 & 2 of my "How to read structure tutorial", when we should begin to look for a trend reversal & the simple...
Never traded such a Pattern but can easaly think of a potential entry and exit strategy using Fibonacci and Price Action...
Breakout of daily swing high Pullback into Support RSI o/b condition + Divergence Double bottom
Looking at th daily we see a completed BatPattern. The daily is too big for most traders however so they leave it off the radar. If you move to a 240M TF you see that price is about to form a H&S Pattern which may serve as entry signal and orientation for Target and Stop Loss orders
Anyways, looks like a long trend following makes sense after the strong breakout of "B" Proposed target is a projection of "AB" that comes in at daily resistance levels
Here is the thin with double bottom. Every Lower Low was initiall ya double bottom and every Higher High was a double top. Here, however, the DB is "confirmed" by price closing above the High between the bottoms. If this DB will mark the new low and we will see higher prices then, entries can be found soon. Furthermore, you see a potetnial Lorbeer Pattern forming
Looks like DoubleTop in Resitance after ABCD Retracement. This hase everything that a trend follower wants to see for conservative entry. First we get the new swing low wich indicates more downside potential than upside - check ABCD Retracement into Resistance (since C retraced deeply into AB, it is natural that D is a smaller Fib extention here 1.27 of AB...
After the highlighted Breakout, price pulled back and formed a double bottom. 1. My Mirror traders followed me to grab some Profti going long on the double bottom on a hedge trade agains our UERUSD short trade 2. We banked profit and shorted on a Lorbeer Pattern 3. Now its time to hop up the hedge again and chase the new hgig on a second chance double bottom...
You can alos look at is form a Double Top point of view. After the "V-Point" breaks which confirms the Double Top, price often retraces a certain way before continue down. Therefore, either you trade the trendcontinuation to the long side or you take profit at the V Point or 50% Fib retracement and then go short for new lows.
Time will tell whcih direction to trade for the rest of the week. WHat do you think?
As we speek the first ABCD gets triggered. If price continues another more beneficial LorbeerPattern is waiting. On profit target yet another Long LorbeerPattern triggers. These are all short to mid term trades. Since I already am short this pair on the long run and hort EURUSD on the long run, I will only trade small size to respect my money management and...
Entry idea for a short assumption on the Euro. 240M candle closed below the low swing of the 2 tops. A short entry may be found in minor resistance or around a fibonacci retracement level of this swing low break mouvement. Tipically I would take some profit at the new swing low but since I am very bearish on the Euro short term I am shooting for a little bigger goal
Hey Traders , here we have an opportunity to get short on the aussie dollar , if you take this trade remember only risk a small percentage of your account based on your risk management strategy
At the 240M the second shoulder is about to form. Looks like price will form a candlestick pattern on the 240M which is a Double Top on the 60M. Perfect run: Shorting the second shoulder for a "neck break" Going long in support until the rebound to the neck then Short trend continuation
Significant rally into the next resistance (red) provides a short opportunity around 50 to 70 pips Price may consolidate and then continue rally or continue underlying downtrend. Either way, chances are good to chase the new 240M high that is likely to form in the red zone for another 50 to 70 pips