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Countertrend

EURUSD I Starting to consolidate I Will head downWelcome back! Let me know your thoughts in the comments! ** EURUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
25
Counter-Trend on USDJPY📉 This week, I'm keeping a keen eye on a counter-trend trading opportunity for USDJPY. I'm patiently waiting for a potential shorting opportunity at the Key Resistance Level of 142.96. ⚠️ However, it's important to note that despite this shorting opportunity, my overall bias remains bullish on the US Dollar. This week appears to be a retracement week in the market. Stay tuned as we navigate through market movements and identify potential trading setups. Let's make the most of this retracement period! 💪💼 #USDJPY #CounterTrendTrading #ShortingOpportunity #RetracementWeek #StayTuned
Short
by RaynLim
Finally, Shorting Opportunity📉 After a week of waiting, the market has finally retested my preferred entry price for a short position on the Bearish Crab Pattern(daily chart), which complements the Bearish Shark Pattern(weekly chart) at the 88.50 level. Check out the link article in the TradingView post for a refresher on last week's discussion. 💼 Trading is all about minimizing initial stop-loss and maximizing profits sensibly. 🔄 A retest of the key resistance level at 88.60 on the 1-hourly chart would confirm this trading idea for me. 🔝 This trade holds the highest priority for me in the upcoming week. Share your highest priority trade for the week! 📊💭
Short
by RaynLim
Dollar-Yen Remains Bullish📉 The analysis on USDJPY remains bullish, but for now, we're on the lookout for counter-trend trading opportunities. 🔄 📉 The Bearish Fib-3 Bat Pattern at 149.15 offers a potential shorting opportunity, although it may take some time to validate. 📉 Alternatively, a break of the trendline on the 1-hourly chart could provide a more immediate shorting opportunity. We're watching for a retest without violating the trendline. ⚠️ However, the trendline hasn't been convincingly broken yet, as the candlestick failed to close below it. 🔍 USDJPY is currently of lower priority for trading this week. Share your trade plan! 📊💭
Short
by RaynLim
2
Aggressive Buying🔍 Current Situation: No favourable buying opportunity on GBPUSD, but counter-trend trading possibilities exist. 🔴 Retest of Double Top: Watch for a retest of the double top pattern completing at 1.2745 on the 4-hourly chart. Traders eyeing a reversal will be attracted. #DoubleTopPattern 🦈 Bearish Shark Pattern: Keep an eye on the Bearish Shark Pattern completing at 1.2743. Short-savvy traders may join in. #SharkPattern 💥 Market Reaction: As two trader groups converge at 1.2745, expect heightened volatility and rapid movements. Stay prepared! #VolatilityAlert 📊 Trade Strategy: Exercise caution with counter-trend trades. Set conservative targets and manage risk effectively. Scale in wisely. #RiskManagement 👀 Stay Vigilant: Continuously monitor price action and adapt your approach as the market unfolds. Protect your capital! #StayAlert
Short
by RaynLim
Shorting Opportunity🔍📊 Current Market Overview: I'm closely monitoring the EURUSD pair for a potential shorting opportunity on the higher timeframe. However, at the moment, two buying opportunities have emerged, which deserve our attention. Let's dive into the details: 🦋 Bullish Butterfly Pattern: On the daily chart, we have identified a Bullish Butterfly Pattern with completion anticipated at 1.0355. This pattern suggests a potential buying opportunity, indicating a reversal in the price action. It's crucial to keep a close eye on the price as it approaches this level. 🦈 Bullish Shark Pattern: Another interesting development is the Bullish Shark Pattern observed on the 4-hourly chart. This pattern is expected to complete around 1.0764, signalling a potential buying opportunity. However, it's important to remember that these patterns occur in the context of a counter-trend trading strategy. 💼 Trading Strategy: Given the absence of a clear shorting opportunity, I will adopt a conservative approach and focus on the identified buying opportunities. I will set conservative targets for these trades while remaining vigilant for a suitable shorting opportunity to align with my overall strategy.
Long
by RaynLim
2
USDJPY retracement at the highAfter a few indecision candles at the high, followed buy a volume push up to a major resistance, I became alert that a bearish setup might present. Friday closed off with a variation of a bearish engulfing. When price closes beyond a price then closes right back beneath it its a sign that this price is being rejected. Naked analysis tells us that the 1hour chat has already began its downward momentum. A minor double top formed. My short entry was based on the high volume bearish engulfing re-test at the neckline. The 30MIN chart has begun creating its lower highs and lower lows. This is a short scalp. the buy will likely present later in the week.
Short
by DesharedPierreJr.
1
Correlation Matters No More For the longest time, I've been saying that the correlations between the currency pairs have been weakened. Traders have asked me why I have NZDJPY and NZDUSD in my portfolio. Doesn't it move in the same direction? Over the years, these correlated pairs move pretty differently. And recently, the WTI and Gold have no longer moved in an inverse relationship. So yeah, I'm treating them as their own. Although both the 4-hourly and 1-hourly charts show buying opportunities through a potential Bullish Bat Pattern and a Bullish Shark Pattern, I'm more interested in waiting for a shorting opportunity on the 5-0 Pattern. What's your take on the NZDUSD?
Short
by RaynLim
Dollar Bias!My Bias for Dollar Appreciation started on 14 Oct 2021; it has been right after all. The leading trade I'm looking at is a buying opportunity on the 1-hourly chart, left and might keep my final target open and observe the candlestick pattern movement when it approaches its new resistance level. If you are looking for a counter-trend move, I've something for you. A Bearish Butterfly Pattern that seems to complete at 141.65; in order for this trading setup to complete, the candlesticks pattern must touch 141.51 within the next 2 candles, which means within 8 hours after the market opens. If you love what you are seeing, remember to follow my only account, raynlim
Long
by RaynLim
Best of Both WorldsMy long-term bias on Dollar Appreciation had not ended, however, that doesn't mean I can't short the Bearish Crab Pattern that was completed at 140.42. If you had traded this, it would have given you 106pips(approx. 1,060usd/lot) of running profits. If you are like me, having the bias to long the USDJPY, the Bullish Gartley Pattern that completes at 137.84 could provide you with such a trading opportunity. Either way, the M.C confirmation has to appear in both situations.
Long
by RaynLim
Counter-Trend MoveThis could be for you if you are waiting for a counter-trend move. A Bearish Gartley Pattern is expected to complete at 1.2605, but the earliest for that is on 12 Jun 23, 1200(utc+3); any earlier than that, the trade would be invalid. If a break and close above 1.2605 occur, I will wait for an M.C confirmation at 1.2659 on the ABCD pattern. Both of these Harmonic Patterns are counter-trend moves. On GBPUSD, that means a pullback trade. Overall, my sentiment remains bullish on the GBPUSD.
Short
by RaynLim
Long Scalp on ETHAfter the daily made a bearish push to the downside I wanted to see how price reacted to the 38.2 prz level. on the 4H, a hammer on top of the 38.2 fib as well as support. Breaking things down to a lower timeframe I had a correction trendline drawn from the latest swing highs. Price had broken the correction trendline and began up trending on the 15min and 30min chart so i bought with my stop loss being below the 30min low. take profit at -27.% from that 38%.
BITSTAMP:ETHUSDLong
by DesharedPierreJr.
1
GBPAUD I Approaching supply zone where it may fallWelcome back! Let me know your thoughts in the comments! ** GBPAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
4
I might buy this minor uptrend but GOLD IS BEARISHGold is coming off of lower low after lower low on all major timeframes so its not surprise that my first bias is bearish. However, when it comes to intraday trading, momentum is important for swings in the market and the difference between volatility or consolidation while profits float. I'm going to take this opportunity to buy gold if a structural higher high is formed since my immediate correction trendline has already been broken. Any buys are short term countertrend moves as the winning team is currently the bears. The neckline of the daily double top and retest of weekly resistance will not go unnoticed.
OANDA:XAUUSDShort
by DesharedPierreJr.
1
AU providing a hint for a reversalAUDUSD is currently at its lowest point since breaking out of consolidation on last week. This week it may look to re-test the bottom of the range or the neckline of a confirmed double top bearish reversal pattern. However, the case, this pair is overall bearish. The big move will come from a short. I've noticed that its currently trading around the weekly support and has performed a higher high, would be a trendline break if price wasn't moving so fast but the moving average has already crossed to the upside. If that low holds as support, I'll look to buy to the 38.2 Price reversal zone (PRZ).
LShort
by DesharedPierreJr.
I'm correcting errors mid-weekI decided to publish a video about the recent trades taken and the aftermath. I believe that I see structure clearly, however my bias changes depending on the timeframe. I'll be ultimately bearish on Sunday and Monday, then decide I want to be bullish Monday night to trade up to the sell. I understand that counter trend trading is dangerous to the risk: reward portfolio. This video will be watched back 2-3 times by myself as I learn more about the market from "teaching" it. I'll also be posting more videos regarding pre analysis, leading up the decision to take the trade.
OANDA:XAUUSD
by DesharedPierreJr.