I'm not quite sure if I missed this trade setup for a 2618 opportunity after the double bottom with divergence. Price missed the 61.8 retracement level for literally 1 pip and went straight up. As price already retraced from the last move to the upside, I'm not quite sure if it's a good idea to enter when it hits (IF it does) the 61.8 level.
Maybe if you have any...
2618 TRADE SETUP:
* Wait for price to break the resistance near 101.800 and then wait for the 61.8 retracement to get long.
Cypher:
* Be aware of how far price goes before retracing to the 61.8 level, as it may complete a Cypher pattern, in which we would have an opportunity to go short from there and then take the 2618 setup to go long.
If price completes the...
After creating new structure highs we're now retracing into previous structure setting up a low risk long opportunity. I'd be cautious about shooting for too high of targets since we still haven't passed the major structure area on the weekly.
Looking for potential long setup in GBPAUD.
1) Structure play: IF price came down to support zone (red zone), look for price action signal to go long.
2) Pattern play: IF price continue upward and reverse, potential bat pattern forming. To long at 88.6% retracement of XA leg.
Technical Outlook
EUR/CAD had a long rally followed by this down channel which cloud end up as a retracement if EURCAD went up.
There is a lot of structure at 1.43482 and there is a fibonacci 3.82 level close right at 1.42677.
I can't say now what this pair will do because it depends on oil prices and fundamentals, but i expect a short term rally when price...
Based On: Structure, Fibonacci levels, Channel, Stochastics, RSI, Momentum..
IF EUR/USD Reaches 1.3648. Economic Calendar events will effect this heavily, i am looking forward to a volatile day (TODAY:EUR Interest Rate, Decision, ECB Press Conference, US Nonfarm Payrolls, US Unemployment Rate, ISM Non-Manufacturing PMI ) If these events will be positive...
Yesterday I took a long entry on this what I find a nice structure trade setup. Market broke previous resistance
and then went into extreme oversold on the RSI right at previous resistance which now became new support. I bought next bar candle. Market leaped north and took out target 1 which was good for 16pips. I'm still in that trade and looking for a rally all...
Just realized there is a Cypher pattern and Gartley pattern completion at the same level (0.8740) in confluence with support level, so a great opportunity for making quick profits with target at 0.8771 and stops just a few pips below X and support level around 0.87228
Good luck!!
Based on Structure's and Fibonacci confluence, channel,...
If ADP Nonfarm Employment Change is better than expected and if Fed Chair Yellen Speach drives the pair up it could soon reach 0.89048 if these things don't drive up USDCHF it could still reach 0.89048 and then there would be a shorting opportunity.
Then ==> I will open a short position...
I am short on this pair, as it made a new lower high with almost an overbought condition on the RSI and the RSI showing divergence from previous high.
Target is the 127.2 extension and stops above previous high. At the target point, there will be an AB=CD pattern completed, so a good opportunity to go long there, but I would wait for price reaction on that zone...
As the underlying trend is bearish, we have an opportunity to jump on that trend and go short:
1) This pair ended the week on an oversold condition in a bearish trend, so we can expect it to go to the 0.5 retracement level from last swing down, which is in confluence with previous support, now resistance level.
2) We can go short from there with stops a bit...
Two possibilities on this pair for next week:
1) Price might form a double top right at major resistance level. This give us an opportunity to go short, but we have to be careful about our targets, as there is a support level around 1.7002
2) If price reaches lower levels, there is also a Shark pattern that would be complete at around 1.69625 with fibs...
Very nice Fibonacci cluster around the 0.85887 area between the last price swings. I think we might expect a reaction here, so it's a nice opportunity to go long with targets around 0.8684, as there is the next structure level.
Good luck guys!
Opportunity to go long at 0.84772 with confluence between 0.5 retracement of last swing and suppot zone. If price breaks that zone, there would be an opportunity for going short as price bounce from that support, now resistance level and continue the trend to the downside. So, whatever happens on Monday, it's important to have a trade plan.
Looking for this patterns to complete, as the Shark pattern already completed, got target 1 filled and target 2 waiting to be filled.
For the Bat and the Cypher, I look for possible targets at important structure levels, this gives me more confidence to move stops to BE one price reaches first structure/target.
Also, is good to know that between Bat's point D...
I think price will continue to go higher, at least until the 102.300 area. I wasn't convinced by the way price reacted to that resistance level, so I'm getting in at the touch of the support zone.
