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Countertrend

SOLANA // Will the correction reach 61.8?The daily short countertrend is valid, and the market has reached the correction fibo 50 level. The question is: will it reach 61.8? If the market can significantly break the last clear H4 breakout, it may have a chance. If it turns up, and there is a significant (trigger) candle in the long trigger zone, my target is the weekly target fibo 200. ——— Stay grounded, stay present. 🏄🏼‍♂️ Your comments and support are appreciated! 👊🏼
COINBASE:SOLUSD
by TheMarketFlow
3
BITCOIN // Start of the weekly correction?After a nice expansion, Bitcoin has reached the weekly target fibo 300 and the monthly 200. From this level, the chance of a deep correction is significant. If the weekly candle closes like this, below the weekly impulse base, the market breaks the weekly structure and enters the correction space of the last weekly impulse. There may be a correction of the corrective impulse, but chances are high that it will turn below the peak and go south. There is a clean (not yet tested) H4 breakdown that triggers the longs. Below that, I'll be looking for short trades. I don't know anything about the fundamentals, though, can anyone enlighten me in the comments? ——— We may not know what will happen, but we can prepare ourselves to respond effectively to whatever unfolds. Stay grounded, stay present. 🏄🏼‍♂️ Your comments and support are appreciated! 👊🏼
BITSTAMP:BTCUSDShort
by TheMarketFlow
1
GOLD // trade the correctionThe correction is valid, and the daily is in sync with H4 in the short countertrend. There is a clean (not yet tested) brekout on H4 that may stop the price from falling, but scale-in is possible when the valid H4 long countertrend breaks. Target zone is the daily 138.2 and the correction fibo 38.2 levels. ——— We may not know what will happen, but we can prepare ourselves to respond effectively to whatever unfolds. Stay grounded, stay present. 🏄🏼‍♂️ Your comments and support are appreciated! 👊🏼
OANDA:XAUUSDShort
by TheMarketFlow
DAX // Possible start of the CountertrendThe daily trend still holds at all-time highs and beyond every measurable target, but H4 has already turned south. The last clear breakout is on H1 at the countertrend line break, and the market crossed it by a couple of pips. Not significant, but still a close below the trigger level. The position should be closely watched at the daily impulse base. Either to close the trade, or to add to it. ——— We may not know what will happen, but we can prepare ourselves to respond effectively to whatever unfolds. Stay grounded, stay present. 🏄🏼‍♂️ Your comments and support are appreciated! 👊🏼
PEPPERSTONE:GER40Short
by TheMarketFlow
SOLANA // idea for both directionsThe daily short countertrend is valid, and the market has reached the correction fibo 50 level. The question is: will it reach 61.8? If the market can significantly break the last clear H4 breakout significantly, it may have a chance. If it turns up, and there is a significant (trigger) candle in the long trigger zone, my target is the weekly target fibo 200. ——— We may not know what will happen, but we can prepare ourselves to respond effectively to whatever unfolds. Stay grounded, stay present. 🏄🏼‍♂️ Your comments and support are appreciated! 👊🏼
COINBASE:SOLUSDShort
by TheMarketFlow
6
DAX // What needs to happen before the deep correction?The market has almost reached the daily target fibo 238.2 after an unbelievable run! But every impulse has a correction, so mabe it's time to be prepared. The H4 structure already broke, but there is no new wave, and there is a clear H1 breakout that may push the balance for the sellers. Smart money (my tick-by-tick volume analysis indicator) is selling for more than a week. The daily impulse base is very close, and may trigger sell orders. If there will be a huge fight, we may also see a sideways market for some time. ——— We may not know what will happen, but we can prepare ourselves to respond effectively to whatever unfolds. Stay grounded, stay present. 🏄🏼‍♂️ Your comments and support are appreciated! 👊🏼
PEPPERSTONE:GER40Short
by TheMarketFlow
ASX 200 futures could tease bears at these highsThe ASX 200 futures market has struggled to retest 8500, after a brief and uninspiring spell above it. Overnight gains on Tuesday were seen on low volumes, and Wall Street indices have provided a weak lead today. A bearish divergence has also formed on the daily and 1-hour chart. While prices have rebounded from the weekly pivot point, price action looks corrective. Hence the bias for it being a corrective channel that could break to the downside. If we see prices rise at the open, I am on guard for it being a 'last hurrah", which could make it a suitable market to fade into with a stop above the record high. The weekly pivot (8390), weekly VPOC (8348) and weekly S1 around 8300 make viable downside targets for bears. MS
ASX24:AP1!Short
by CityIndex
GBP/USD Longs from this weekly demand This week, my analysis suggests that GU is likely to experience a bullish reaction from its current position. Price is sitting within a key weekly demand zone and has already surpassed the 50% retracement mark, signaling a potential area for long opportunities. At the current level, there is a 1-hour demand zone nearby, with another demand zone just below it. I plan to watch for price accumulation in these areas, particularly to take out the weekly low. Once that occurs, I’ll look for my lower time frame confirmation to enter long positions. My primary target will be the Asian session high near the supply zone above. Confluences for GBP/USD Longs: - Liquidity Targets: Significant liquidity rests above, including the Asian session high. - Supply Zone Mitigation: A strong supply zone above has yet to be mitigated. - Retracement Setup: The bearish trend suggests the need for a retracement upward. - Imbalances Above: Price has left clear imbalances that need to be filled. - Weekly Demand Zone: Price is currently reacting within a high-probability weekly demand area. P.S.: If price opens the week with bullish momentum but doesn’t provide a clear entry setup, I’ll shift my focus to the mitigation of the supply zone above. This would present potential sell opportunities to continue the broader bearish trend.
Long
by Hassan_fx
Market Scenario and Potential Buying OpportunitiesAnalysis of Key Support Levels and Candlestick Pattern Confirmation The financial markets are often characterised by their volatility and the constant ebb and flow of prices. In this intricate dance, key support levels play a pivotal role in determining the direction of market movements. This aims to provide an in-depth analysis of the current market scenario, focusing on two significant support levels, $2,378.36 and $2,327.67, and the potential buying opportunities that arise should the market break and close below these levels. Additionally, the importance of candlestick pattern confirmation at the $2,035.97 level for a Bullish Deep Crab Pattern setup will be emphasised. Understanding Support Levels Support levels are price points on a chart where a security tends to find buying interest as it falls. These levels often act as a floor by preventing the price from being pushed downward. Identifying such levels is crucial for traders, as they help in making informed decisions about entry and exit points in the market. In the current market scenario, the two significant support levels to watch are $2,378.36 and $2,327.67. These levels have historically shown strong buying interest and have acted as a base for price rebounds. However, should the market break and close below these critical levels, it signals a potential shift in market sentiment. Significance of the $2,378.36 Support Level The $2,378.36 level has been a key area of support in the recent trading history. A break below this level would suggest a weakening of the bullish sentiment, prompting traders to reassess their positions. It is essential to observe the market behaviour around this level closely. Importance of the $2,327.67 Support Level The $2,327.67 support level is another crucial price point. Historically, this level has provided a strong base for price recoveries. A break below this level would likely indicate a further decline in market confidence, leading to increased selling pressure. Waiting for Candlestick Pattern Confirmation In the event that the market breaks and closes below the two significant support levels, attention should then be directed to the $2,035.97 level. At this juncture, it is crucial to wait for a candlestick pattern confirmation. Candlestick patterns are graphical representations of price movements for a given period. They are widely used by traders to predict future price movements based on past patterns. In this scenario, a candlestick pattern confirmation is required to validate a potential buying opportunity. Potential Buying Opportunities at $2,035.97 The $2,035.97 level is significant for the Bullish Deep Crab Pattern setup. This advanced harmonic pattern is known for its precision in predicting price reversals. The Bullish Deep Crab Pattern consists of four distinct price movements that create a specific geometric pattern, indicating a potential reversal point. For a reliable trade entry, it is essential to wait for a candlestick pattern to confirm the validity of this setup. This confirmation ensures that the market is indeed reversing and increases the probability of a successful trade. The Bullish Deep Crab Pattern The Bullish Deep Crab Pattern is a harmonic pattern identified by its precise Fibonacci ratios. The structure of the pattern includes: Confirmation Candlestick Patterns Several candlestick patterns can serve as confirmation for the Bullish Deep Crab Pattern. These patterns provide visual cues to traders, signalling a potential shift in market sentiment. Waiting for these confirmations ensures that traders enter the market with a higher degree of confidence. Conclusion In summary, the market's behaviour around the significant support levels of $2,378.36 and $2,327.67 is crucial for determining future price movements. Should the market break and close below these levels, the $2,035.97 level becomes the focal point for potential buying opportunities. However, waiting for a candlestick pattern confirmation is essential to validate the Bullish Deep Crab Pattern setup. By adhering to these technical analysis principles, traders can make informed decisions, minimizing risk and maximizing potential returns. The importance of patience and confirmation cannot be overstated in achieving successful trading outcomes in a volatile market environment.
EIGHTCAP:ETHUSDLong
by RaynLim
1
ASX to new highs, or fakeout in the making?The ASX 200 futures chart reached a record high on Wednesday, and momentarily traded above 8400. Yet repeatedly we see the market hold above this level (also note the weekly R3 pivot is within the area). A bearish divergence is forming on the 1-hour chart, so the bias is for a false break of the highs and retracement lower ahead of its next sustained record high. Bears could seek a move towards the 20-hour or 50-hour EMA, or bulls could wait for such a level to be respected as support before rejoining the bullish trend. *Take note that AU employment data is released in just over 1hr* MS
ASX24:AP1!Short
by CityIndex
GBP/USD Bearish weakening, potential buys from 1.30500This week looks promising for my type of setups, with both sell and buy opportunities presenting decent prospects. I’ll be waiting for high-quality lower time frame confirmations before taking any trades. Depending on which point of interest (POI) gets hit, I’ll adjust, but ideally, I’m looking to sell from the supply zone down toward the demand zone. Once price reaches the 15-hour demand zone, I’ll shift to looking for buy opportunities, targeting the imbalances above and the untouched Asian session highs. Although the overall trend is bearish and sells look favorable, I plan to wait for a mitigation of the higher supply zones around 1.32500 before committing to any shorts. Confluences for GU Buys: - The refined 15-hour demand zone has caused a CHOCH to the upside. - There are significant imbalances and liquidity above that need to be filled. - For price to retrace to the supply zone, it must first move upward. - The US Dollar Index (DXY) is sitting in a strong supply zone, which could trigger a drop in the dollar, supporting bullish momentum for GU. Note: If the buy scenario doesn’t play out as planned, I’ll wait for a strong supply zone to sell from and continue the bearish trend. However, given that price is already in a higher time frame demand zone, I wouldn’t be surprised to see an upward push as early as Monday.
Long
by Hassan_fx
Live Trading Recap: USD/JPY Correction Phase TradeThis is a live execution of USD/JPY trade, demonstrating how to successfully execute a counter-trend strategy. This trade was all about understanding the market phases and recognizing the trend reversal at the right moment. To pull off a counter-trend trade, you need more than just technical skills—you need a solid grasp of trading psychology. Staying patient, trusting your analysis, and managing emotions during market swings are key to making informed decisions. Watch the video to see how I combined these elements to turn this trade into a win. Let me know your thoughts in the comments!
by Charts247TradingAcademy
Bullish Butterfly Pattern Checkback on EURJPYHere’s an interesting setup for all you counter-trend traders out there. A Bullish Butterfly Pattern checkback could provide a solid buying opportunity. Let’s break it down. Current Overview: - Bullish Butterfly Pattern: This pattern is setting up a potential buying opportunity for those looking to trade against the trend. Strategy: Entry: Look to enter a long position as the market completes the Bullish Butterfly Pattern. First Resistance Level: Trendline Break: The first level of resistance will be at the Red Trendline on the chart. Partial Profit: When the market touches this trendline, consider taking partial profits. Stop-Loss Adjustment: Shift your existing stop-loss to the entry price at this point, creating a risk-free trade. Final Thoughts: This setup offers a clear strategy for managing risk while capitalizing on a potential counter-trend move. Remember, trading is all about planning and managing your risk effectively. Are you considering this trade? What’s your approach to counter-trend trading? Share your thoughts and strategies below! Happy trading, everyone! 🚀
Long
by RaynLim
11 Money-Making Opportunities and the A.P.E FrameworkI’ve just recorded a video covering 11 Money Making Opportunities that you won’t want to miss. Here’s a quick rundown of the currency pairs discussed: - GBPUSD - USDJPY - EURJPY - GBPJPY - NZDJPY - NZDUSD - AUDUSD - AUDCAD - USDCAD - CADJPY - GBPAUD What’s Inside: - A.P.E Framework: I’ve also shared how I use our trading framework, the A.P.E Framework, and why it’s so important in guiding my trades. - Strategic Insight: These trading ideas are meant to get you thinking critically about your trades. Remember, they’re not meant for you to follow blindly. Key Takeaway: - Plan Your Own Trades: Use these ideas as a devil’s advocate to challenge your strategies and prevent you from going too aggressive on your trades. Make sure to watch the video for in-depth analysis and insights! What’s your take on these opportunities? Have any of these pairs caught your eye? Share your thoughts and strategies below! Happy trading, everyone! 🚀
by RaynLim
Second Chance Shorting Opportunity on EURUSDIf you’re looking for a second chance to short EURUSD, there’s a promising setup involving a Type 2 Bearish Shark Pattern with RSI Divergence. Let’s break it down. Current Overview: - Type 2 Bearish Shark Pattern: - What It Means: The first target has already been achieved. This provides clarity on the first target but might reduce participation since the initial group of traders who profited may not re-engage. - RSI Divergence: - Signal: This divergence adds another layer of confirmation, especially for traders who rely on resistance and RSI divergence as their entry signals. Strategy: - Second Chance Entry: This setup offers a second opportunity to short EURUSD, with the RSI divergence potentially attracting a new wave of traders. - Profit Factor: The strong profit factor in this trade is what drew me in, despite the potential for reduced participation from the initial group of sellers. Final Thoughts: While there might be fewer sellers this time around, the RSI divergence could bring in new participants, making this a solid second chance trade. Always keep an eye on your signals and manage your risk effectively. What’s your take on this setup? Are you planning to jump in, or do you see other opportunities? Share your thoughts and strategies below! Happy trading, everyone! 🚀
Short
by RaynLim
Second Attempt at Shorting NZDUSDI’m back at it with a second attempt to short NZDUSD, and here’s why this setup caught my attention. Current Overview: - 4-Hourly Chart: i) Rising Channel: The pair is moving within a rising channel. ii) RSI Divergence: This divergence signals a potential weakening of the uptrend, which adds confidence to the short setup. Shorting Opportunity: - 1-Hourly Chart: i) Type 2 Bearish Shark Pattern: This pattern gave me a solid entry at 0.6029. Strategy: - 1st Target: i) Extended to: 0.5992 ii) Why: The market reversed beyond the original 1st target, allowing me to extend it for better profit potential. - 2nd Target: Keeping it open to adjust based on how the market moves. Final Thoughts: This setup combines a classic RSI divergence with a well-defined Bearish Shark Pattern, making it a compelling opportunity for a second short attempt. If you’re considering a similar trade, keep an eye on the targets and be ready to adapt as the market unfolds. What’s your take on this setup? Have you noticed similar patterns in your trading? Share your thoughts and strategies below! Happy trading, everyone! 🚀
Short
by RaynLim
USDJPY Opportunities for Both Bears and BullsHere’s an exciting update on USDJPY, which has something for both short-sellers and those looking to buy. Let’s dive in! Current Overview: - 4-Hourly Chart: - There’s a sell zone, but the overall movement of USDJPY is on a bullish ride. :chart_with_upwards_trend: Shorting Opportunity: - Key Level: 157.69 - What to Do: If you’re looking to short, watch for a Magic Candle Confirmation within the sell zone (red box). The ideal entry would be at 157.69. Buying Opportunity: - Key Pattern: Potential Head and Shoulders Formation - Key Level: 157.69 - What to Do: Like me, if you’re waiting to buy, this is the level to watch. Wait for a Magic Candle Confirmation at 157.69 to enter a long position, betting on a Potential Head and Shoulders Formation. Final Thoughts: Whether you’re looking to short or buy, the key is patience and waiting for confirmation. Trading is all about making informed decisions and managing risk effectively. What’s your plan for USDJPY? Are you in the short camp or the long camp? Share your thoughts and strategies below! Happy trading, everyone!
Long
by RaynLim
Classic Support and Resistance with Harmonic Pattern on USDCADUSDCAD has a classic support and resistance line on the 1-hourly chart. Here are two approaches depending on your trading style. Classic Support and Resistance Levels: Shorting Opportunity: - Resistance Level: 1.3691 - Strategy: Look for a shorting opportunity at this resistance level. - Stop-Loss: Place a stop-loss just above the resistance. - Target: Aim for the support level at 1.3641 or below. Buying Opportunity: - Support Level: 1.3641 - Strategy: Look for a buying opportunity at this support level. - Stop-Loss: Place a stop-loss just below the support. - Target: Aim for the resistance level at 1.3691 or higher. Harmonic Pattern: - Bullish Shark Pattern: - Completion Price: 1.3637 - Strategy: Wait for the Bullish Shark Pattern to complete at 1.3637. - Magic Candle Pattern Confirmation: Look for a Magic Candle Pattern confirmation to enter a buying position. - Stop-Loss: Place a stop-loss just below the Bullish Shark completion level. - Target: Aim for higher resistance levels based on the pattern projection. Key Points: - Classic S&R Levels: Simple and effective strategy using clear support and resistance levels. - Harmonic Pattern: Adds an additional layer of confirmation for more precise entries. - Risk Management: Ensure proper stop-loss placement to manage risk effectively. - Confirmation: Always wait for confirmation signals before entering trades. Whether you prefer classic support and resistance or harmonic patterns, these setups provide clear entry and exit points. What’s your take on USDCAD? Do you have other strategies that work for you? Share your thoughts and strategies below!
Long
by RaynLim
2
Trading Idea: Counter-Trend Trading Opportunities on EURUSDEURUSD has an overall bearish trend. At this point, many counter-trend traders, including myself, are looking for counter-trend trading opportunities. We've had some luck in this regard. Analysis: Daily Chart: - Bullish Shark Pattern: Confirmation is formed, suggesting potential for a counter-trend move. 4-Hourly Chart: - Falling Wedge Trading Setup: Provides a setup to go long and take advantage of the bullish pattern on the daily chart. Strategy: - Bullish Shark Pattern: Use this confirmation on the daily chart to inform your decision. - 4-Hourly Chart Long Entry: Look for entry points based on the Falling Wedge setup. - Entry: On breakout above the wedge. - Stop-Loss: Below the recent swing low within the wedge. - Target: Aim for key resistance levels that align with the daily chart's bullish shark pattern projections. Key Points: - Counter-Trend Trading: Recognize the overall bearish trend but exploit the temporary bullish setup. - Pattern Confirmation: Use pattern confirmations on higher timeframes to guide entries on lower timeframes. - Risk Management: Ensure proper stop-loss placement to manage risk effectively. What’s your take on EURUSD? Do you see any additional opportunities or setups? Share your thoughts and strategies below!
Long
by RaynLim
Bearish Deep Gartley Pattern w BOJ DecisionFor those who favor counter-trend trades or believe in a potential BOJ intervention, the Bearish Deep Gartley Pattern on the 1-hourly chart is worth your attention. 1-Hourly Chart: - Key Level: This pattern provides an excellent risk-reward ratio for shorting opportunities. Reminder: - Don’t overtrade. - Always conduct your own analysis and avoid blindly following others. What's your trade plan for USDJPY? Comment down below and share your insights! Happy trading!
Short
by RaynLim
6