CADJPY - Double Bottom RetracementI've engaged a long trade after the double bottom retracement on the M15 chart. Target 1 will be on the previous high that gives a healthy reward is to risk ratio.
Countertrend
CADJPY - Bearish SharkA bearish shark pattern for a counter-trend trade setup as a counter-trend trade for support and resistance traders too. What's important for this harmonic pattern setup is a candlestick confirmation before engaging the trade.
GBPJPY: Sideway BounceHaving a sideway bounce setup before market close for Xmas, pose 2 possibilities, a break and close above or a reversal trade.
The opportunist can look for a shorting opportunity as it gives great Rewards and the conservatives traders can wait for a bearish engulfing as a further confirmation to engage the trade.
Which is your profile?
Gold - Head and ShouldersGold(XAUUSD) has been pretty choppy, it makes it difficult for trend traders. For those who have a bias on bullish gold may find it difficult to short this trading setup even it is a great head and shoulders setup with RSI Divergence.
Trade Engaged and looking for the opportunity to long Gold once it has reached my target profit area.
USDJPY - Counter Trend Trading & Trend Continuation TradingHi Traders!
The market is in an overall Downtrend.
We are going to start the Multiple Timeframe Analysis with the Weekly TF.
Then, we'll analyse the Daily, H4 and H1 Timeframes too.
Here is the screenshot of the Weekly Timeframe:
As you can see the main thing here is the falling Wedge.
The market is moving in between those two descending Trendlines.
Why is this Wedge so powerful?
Because the price respected this Wedge more than the monthly Support:
Here we can recognize the bearish Breakout of the Support in-between the Wedge.
After the Breakout it started a consolidation.
If we have a bearish Breakout of the Consolidation Box, we expect the Target of 101.000.
At this Level the market has moved up fastly the last two times.
Let's move on to the Daily TF:
This movement of the price can be devided into four pieces:
The price moved in the falling Wedge
The price moved in the descending Triangle
The price broke out of the weekly Support and formed a "neutrale" Triangle
(it is neither ascending nor descending)
The price moves in the consolidation box.
Now we have two possible scenarios that the price could take:
- Scenario 1:
The price jumpes off the Support and reaches the blue dotted line.
This line represents the Level of Breakout.
The idea is here to trade the Retracement Movement to make the Retest.
- Scenario 2:
It is also possible, that the market breaks out bearish.
Than the Target would be the Level 101.000.
It is important to trade here the Retest of the bearish Breakout to avoid a False Break.
Let's move on to the H4-TF:
Here, the price moves in a Parallel Channel.
We have two possible Trading Setups here:
The Counter Trend Trade
In this Setup, we buy the bullish Breakout of the Parallel Channel.
The reason is to profit from the Retracement Move.
The Trend Continuation Trade
When the market finally reaches this orange Area, we are going to wait for a Trend Reversal (Candlestick) Pattern.
Then we sell the price with the Trend towards the Bottom of the big main Consolidation Box.
Lastly the H1-Entry-Timeframe:
Here we explain the details for the Setup for the Counter Trend Trade.
As you can see the price is now in a Triangle.
So, we can have two Entries:
- Entry 1 is at the bullish Breakout of the H1-Triangle.
- Entry 2 is the bullish Breakout of the Parallel Channel.
The SL for Entry 1 is below the recent low.
The SL for Entry 2 is depending on how the price gets to make this Breakout and the SL could be below one of these potential higher Lows.
The Target is the Area around the blue dotted Breakout Level.
We recommend to trade with a small risk if you counter trend trade.
Thanks and successful Trading :)!
EURJPY - Fib Retracement TradeOn the daily chart, the candle consolidates at the head and shoulders completion and end off with a long shadow candle, such candle formation shows a weakness in the continuation of a bull run. Hence, I'm waiting for a pullback into the Fibonacci retracement zone at 38.2%-50.0% for a shorting opportunity.
USDJPY-Weekly Market Analysis-Dec20,Wk4On the 4-hourly and daily chart, the USDJPY is going for a bearish run, however, countertrend and harmonic patterns traders you can wait for a countertrend trade of a bullish bat pattern for a buying opportunity. Think twice before you engage the trade as target2 gives you only 40pips of potential profits and we have not factored in the spread.
MRNA, price trend reversalThough MRNA has been generally overbought in the past few weeks, the market seems to be rejecting the low prices of the upper 130's. Fundamental speculators valuation is near 150, so we can expect a distinct bounce back in the upcoming days, and in addition to this, we expect good news regarding the FDA approving their vaccine as new public health data comes to light.
BTCUSD - LongCOINBASE:BTCUSD
BTCUSD - I am still holding longs in BTC, I do think soon we will get some deep pullbacks, but for now I'm not trading what I think, I am trading what I see. That is a broken counter-trendline, now retesting to add in longs to continue the current ride up. Until we break back below the trendline, then I am bullish, very simple
CADJPY - Bearish Shark CheckBackWell, having the trade stop-out for some it can be a challenge for those to even think of another trading opportunity on this, let alone a shorting opportunity. While that is how a new trader and experience trader will react differently.
As long as the market didn't break and close above the HOP level, it is still a valid bearish shark setup for a perfect counter-trend trading opportunity.
USDJPY-Weekly Market Analysis-Dec20,Wk3While USDJPY has a bearish overcast, it does give counter-trend traders a buying opportunity once the market has extended towards the support level of the sideway bounce formation.
I'll be waiting for a double bottom with RSI Divergence to engage the trade at 103.72. If the trade was engaged, 103.94 will be the level that I will watch closely if a break and close above happen at the level.
How to Counter Trend Trade (Divergence)This is a quick tutorial on how to trade against the trend for a possible reversal. I think this might be the best strategy online for counter-trend
Feel free to ask any question and don't forget to like the video and follow me for more set ups and tutorials
Thank you
USDCAD - A possible Bull run An expected consolidation on 4H. Since market had a massive sellers momentum, for a change of trend or any bull move, a consolidation is expected. Moreover on the chart, On 4H we can catch the LL to LH move. But, for now it is a bit risky to take the buy since on 1H market is failing to breakout.
1H - Market Fails to Make new LL and Rejecting the major key zone for 3 times, which is our Weekly key zone as well.
All we need now is a breakout on 1H or if 30m Break structure and forms the first HH and HLs, then it would be a clear trade for long position.
AUDCAD - Bullish ButterflyI can imagine that AUDCAD can be pretty volatile at the entry-level we are looking at. For this setup to be valid, the earliest for this to form is on Tues, 8Dec2020 6 am (+8GMT), anything earlier than that I'm going to scrap the trade. A retracement back to 0.9525 before the formation of the bullish butterfly pattern would be ideal for traders to head in for a shorting opportunity for trend traders.
GBPUSD-Weekly Market Analysis-Dec20,Wk2Shark Patterns in the Harmonic Pattern setup is the most tricky setup. Last week, you have witnessed 1 of the potential setup of the bearish shark pattern(link at bottom) and we have all seen how the shark pattern was in place and created a strong resistance of the ascending triangle. This week the PRZ zone has moved up to the area and if this level is broken, there will be another level. Yeah, believe it.
If the market falls from here, the support level would prevent it to create a free flow, we would expect more of a bounce then a free fall.
GBPJPY - Bearish Shark checkbackA bearish shark check back on GBPJPY gives a counter-trend shorting opportunity on this pair. I will wait for the candle close on this pair which will be 10 pm (+8GMT) to decide my trading decision.
GBPUSD - Bearish Shark checkbackA bearish shark checkback setup on GBPUSD presents a shorting opportunity for traders. Not only it gives a fantastic shorting opportunity with its amazing Reward: Risk. When news is very bullish on UK Pound and it doesn't move that much, it leaves a clue of shorting. Trade has engaged.
(Episode #419) EURJPY - Bearish Bat (29Nov2020)EURJPY is the most interesting setup for this week analysis. It has a head and shoulders formation on the daily chart, emerging gartley pattern on the 4hourly chart and a bearish bat setup on EURJPY 1-hourly chart.
When the market open we are going to observe if the market has a confirmation signal before we engage the trade.
EURUSD-Weekly Market Analysis-Dec20,Wk1EURUSD has a continual appreciation of the upside. The counter-Trend trader could wait for a double top set up at 1.1977 with an RSI Divergence for a shorting opportunity.
EURCHF possible shortwe are over extended to the upside, and have hit resistance on the higher timeframes, dropping down to the 4hr chart we can see a counter trendline forming, if market will manage to break below this counter trendline on the retest we can look to short
GBPUSD - Price Action Analysis --> Counter Trend TradingHi Traders!
The market is in a longterm Uptrend.
To get an overview of the current situation, take a look to this chart:
This is the Daily Timeframe.
As you can see there is an uptrending market.
An ascending Trendline is supporting the Trend and this is also viewable on the weekly timeframe.
We should take into consideration, that the market is at strong Resistance now and simultaneously in a Parallel Channel.
Moving on to the H4-Timeframe:
Here you can see a comparison of the three Up-Movements.
This is a part of the Price Action Analysis.
As you can see the Movements are getting weaker.
In conclusion of that we expect a Down-Movement in the next candles.
We recommend to trade the Breakout of the Trend towards the Parallel Channel.
Thanks and successful Trading :)!
AUDUSD - Bearish Shark Check-BackBearish Shark Pattern check-back on profit trendline gave an opportunity for re-entry to short.
