structure failing to break below key level and now showing signs of continuation after break of level. Just keeping it simple and following the trend.
Price breaks a key level, creates a retest. We then wait for price to reject the key level and begin a new down trend. The added confluence of waiting for price to shift from an uptrend push phase to a downtrend on the retest by waiting for price the break previous structures is key.
Price seeing nice intraday level being broken on 1H timeframe. We have a 1H double top with a break and retest from the neckline. Furthermore, the 4H has closed bearish, creating a bearish market structure below key levels. Let's hope we see price continue down to the next key level with 1:3 RR. Look to move to BE or - 0.5R when price reaches 1:1 RR. Simple...
USDCHF is presenting a change in structural bias with the breaks of trend and now previous structure. Will look for evidence for price to continue bearish today and early this week. GBPAUD is seeing continued Aussie dollar strength from last week, compounding with GBP weakness. Hopefully price can break this level being created in a descending triangle for sell...
Nice last kiss setup on AUDUSD. Price breaks below consolidation zone, then shows good rejections such as wicks and engulfing candle. 1:2 RR due to bigger range and trading on Friday.
Short with break of structure. High probability of downtrend continuation with retest and rejection
A high probability of downtrend continuation after break of structure level, followed by retest and rejection.
Confluences for entering trade - Price fails to make new lows in a trend - Breaks previous LH structure - Retests level - Shows rejection (wicks + engulfing candle)
The break and rejection of the key level suggests uptrend continuation
These trades work surprisingly well when I backtested the strategy on the 1H timeframe. We will see how this one turns out, but price creates a nice consolidation, then breaks out and presents a retest back into the zone, this is known as the last kiss candle. Price then rejects the zone with a nice engulfing candle. Hopefully it's good! Planning on moving SL to...
4H presents a double bottom with a break above previous structures and a retest for confluence.
Price is moving up on the trend line, then fails to make a new higher higher, forming a double top. Then price creates a new lower higher and breaks the structure it has formed. With the retest and wick rejections present of the structure, a great sell opportunity opens up.
Three confluences; - Trending market - Break of key level + retest - Engulfing bullish candle for trend continuation High probability trades MAKE PROFITABLE TRADERS.
The more confirmations of market direction, the higher probability trade. You may not win everything, but with such high probability, the odds are in your favour over the long-run.