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4h

Good r:r on long EURUSD positionprobable reversal point suggested by a 3 trendline intersection point, an RSI divergence and the base of a big Andrew's Pitchfork. Nice risk reward ratio since the SL will be positiond near a tiny swing low structure but the target is far away towards the center of the pitchfork and another 3 trendline intersection point, one being very important since it's the daily resistance (and it would make the third rejection, usally the most valid one). I think this would make a good trade as we wait for the major reversal on the upper daily resistance (see my previous post). Leave a like if you like...money. XD
Long
by PinkiePips
GBPJPY 4H ADX STRATEGYThe Best ADX Strategy The ADX indicator trading rules will ensure that you only trade when there is a strong trend on the 5-minute chart up to the daily chart. In this regard, the best ADX strategy is a universal strategy that performs the same, regardless of the time frame used. Moving forward, we’re going to look for selling opportunities. Step #1: Wait for the ADX indicator to show a reading above 25. Before we even look to see if the market goes up or down, we must first wait for the ADX indicator to show a reading above 25. Based on the ADX indicator trading rules, a reading above 25 is signaling a strong trend and the likelihood of a trend developing. We all know that the trend is our friend, but without real strength behind the trend, the newly trend formed can quickly fade away. In order to gauge the direction of the trend, we also need to look at the actual price action. This brings us to the next step of the best ADX strategy. Step #2: Use the last 50 candlesticks to determine the trend. For sell signals, look for price to develop a bearish trend. No matter of your time frame, we need a practical way to determine the direction of the trend. By using a sample size of 50 candlesticks to determine the trend we ensure that we trade in the moment of now. We like to keep things simple, so if the price is heading lower during the last 50 candlesticks we’re in a bearish trend. Step #3: Sell when the RSI indicator breaks and show a reading below 30. For our entry signal, we’ll be using the RSI indicator that uses the same settings as the ADX indicator settings. Normally the RSI reading below 30 shows an oversold market and a reversal zone. However, smart trading means looking beyond what the textbook is saying. In a strong trend as it’s defined by the ADX indicator that’s precisely what we want to see. We want more sellers coming into the market. So, we want to sell when the RSI indicator breaks and shows a reading below 30. Step #4: Protective Stop Loss should be placed at the last ADX high. In order to determine the stop-loss location for the best ADX strategy, first identify the point where the ADX made the last high prior to our entry. Secondly, find the corresponding high on the price chart from the ADX high and there you have it your SL level. Step #5: Take Profit when the ADX indicator breaks back below 25. The best ADX strategy seeks to only capture those profits resulted from the presence of a strong trend. Once the prospects of a strong trend fade away we look to take profits and wait for another trading opportunity. To accomplish this we take profits as soon as the ADX indicator breaks back below 25. An ADX reading back below 25 suggests the prevailing trend is running out of strength. Note** The above was an example of a SELL trade using the ADX indicator trading rules. Use the same rules but in reverse, for a BUY trade. Conclusion - ADX Indicator The best ADX strategy gives us very useful information because a lot of the time, we as traders don’t want to get into something that’s moving nowhere and not trending in a strong fashion. By applying the ADX indicator trading rules one can take advantage of the strength of the trend and cash in quick profits. The bottom line is that the best profits come from catching strong trends and the best ADX strategy can help you accomplish your trading goals.
by Tradingstrategyguides
USDJPY - 4H Short TermWish I had posted this sooner, the wick on 6th Oct at 18:00 gave a perfect sign for a break and retest of the bearish trendline found on the Daily. This has been broken and retested, this move may be dragged out as it is a Monday and Bank Holiday for USD/CAD so there will not be much volume. The above resistance has been rejected once after the break of the trendline though I would hope that the recent retest early this morning can confirm that we should see a move up to prior retracement levels. I will await NY open for any sort of intraday long opportunities. Will watch DXY along with this pair as any bullishness for the $ should aid this bias or copy the PA
by jakedubbz
AUDUSD - 4H Short TermWe have just broken a resistance zone on the daily and lower timeframes, we should expect a retest before we reject / break the previous lower high (black box). Some high impact news out for this pair Thursday, not too familiar with this pair but should the news coincide with the PA over the beginning of the week ahead, I would expect this sort of move to come through. Sells within the black zone above seem ideal though I would wait for confirmation of another lower high to continue the move downwards.
by jakedubbz
Bullish Crab PatternThe Crab is a precise Harmonic pattern that was discovered by Scott Carney in 2000. The Crab is a distinct 5-point extension structure that utilizes a 161.8% projection of the XA leg exclusively. This is the most critical aspect of the pattern and the defining level in the Potential Reversal Zone (PRZ). The extreme (261.8%, 314%, 361.8%) projection of the BC leg compliments the 161.8% extension of XA. Due to the extremity of the projections utilized in the completion of the pattern, the Crab frequently experiences sharp price action and dramatic reversals. It is common for price action to possess extreme ranges, quickly testing the Crab PRZ during the reversal. In fact, the price action experienced in Crab pattern completions is usually the most extreme of all of the patterns. Despite the typically severe reversals, the focus of the pattern’s completion should examine the 161.8% projection of XA. As I am yet to post a complete tutorial for the Crab pattern I did not publish this idea prior to entry, but due to it's significance to the current Bearish Gartley pattern on the Daily time frame I have published this live version to show confluence for the entry point of the Daily Gartley.
by Cryptsyxalt
APPL Broadening Wedge Descending (bearish)I found this pattern at tickeron website with the following data: STATUS = Confirmed CURRENT CONFIDENCE = 89% TARGET (EXIT) PRICE = 102.72 USD BREAKOUT (ENTRY) PRICE = 110.28 USD DISTANCE TO TARGET PRICE = 4.17% EMERGED ON = Sep 17, 08:00 AM (EDT) CONFIRMED ON = Sep 17, 11:59 AM (EDT) WITH CONFIDENCE LEVEL = 100% The Broadening Wedge Descending pattern forms when a security price makes lower lows (1, 3, 5) and lower highs (2, 4), forming two downward sloping lines that expand over time (kind of like a pointed down megaphone shape). This pattern may form when large investors spread out their selling over a period of time, and the Breakout can occur in either direction. When the initial selling occurs, other market participants react to falling price and jump on the bandwagon to participate. Then the value investors begin to sell, believing the price has not fallen enough, which spurs the original large investor to resume selling again. Trade idea If price breaks out from the bottom pattern boundary, day traders and swing traders should trade with a DOWN trend. Consider selling the security short or buying a put option at the downward breakout price level. To identify an exit, compute the target price by assessing the difference between the pattern’s lowest high (2) and the breakout level. That is the pattern height. The target price can be calculated by subtracting the pattern height from the downward breakout level, which is the last low touching the bottom line. To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to buy back a short position or sell a put option at or above the breakout price.
NASDAQ:AAPLShort
by AlTorress