Got 2 short setups in here.
1st is at the bearish candle at the double tops
Requirements are that the left shoulder must be in overbought RSI followed by a weaker test of that structure resistance level. Note the 3 point bearish on the RSI.
2nd is the 2.618 trade. Target 1 has been hit at the 1.272 extension and hoping to see target 2 at the 1.886 extension...
Looking at a breakout of this flag pattern. I see a strong support level at 1.674 area so we may see that get restested first, this is my zone where I will be watching for bullish price action. First target would be 1.70 area for the double top, second will be 1.71. Stops will need to be around 1.665, however I enter at market when I get a price action signal at...
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.
A very beautiful setup which I took without thinking. We got a double top followed by a fakey break above resistance and then a bearish weaker retest of that resistance on the RSI followed by doji/spinning top. Took it and sky dived it down to first target. Second possible target is between the 1.414 and 1.618 fib extension where the next support is. From here we...
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.
A nice ideal 2.618 setup... we got 61.8 against structure and looking at T2 for profit at the 127 extension and for extended profit at target 3. wish me luck
I'm watching a 0.618 structure breakout trade for a possible buy setup back up to 140.90.the Asian session managed to push back price up above major structure support indicating a correction move before the next bearish wave.
Two possible trades:
- A Shark pattern
- A confluence between 78.6 fib retracement level and mayor structure level that could become support.
I'm currently waiting for RSI confirmation when price reaches these levels.
Here is a note to myself that I want to share of yesterdays trading setup on a bearish ABCD setup. I took this trade because I missed the hourly Cypher pattern that completed 2 days ago. The emotional part of trading is the most difficult part. Yesterday price touched and rejected T2 3 times. My trading plan allows me that when T2 has been hit I may exit the trade...
Because of the strong support level found at the PRZ, we can expect price to bounce from this level and at least touch the .5 retracement level from leg C to D, wich would give us the 5-0 pattern to go short. So we have a very good opportunity IF the pattern completes.
Stops at 10 pips below the entry level and targets at 0.5 retracement level from C to D
**NT Missed** I have the expectation that NZDUSD will be revisiting the top of it's current trading range. Price needs to make New higher lows in order to create a valid entry.
NSH - New structure High
NSL - New structure low
NLL- New lower low
NLH= New lower high
