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Trade #19 USDCHF - Trading ABC correction of complex retracementI have been watching USDCHF since the last big impulse down, waiting for its consolidation to resume. The retracement became complex with 5 waves, so I am trading a possible ABC correction of the retracement. Happy trading! ___________________ Money management of my trades. There are two targets: the first one is at least double of the target two (the farthest). The proportion is 2/1. So, 2 lots for target one and one lot for target two.
Short
by InsideMarket
2
Trade #15 EURGBP Failed - This is how it went wrong.Market has gone 'to the wrong side' unfortunately. The process of trading was very cautious and even so the market has punished ruthless. Prices float in consolidation now, which I did not expect. I was supposed to do so! This adds to my experience. Loss of 195 pips. ___________________ Money management of my trades. There are two targets: the first one is at least double of the target two (the farthest). The proportion is 2/1. So, 2 lots for target one and one lot for target two.
Short
by InsideMarket
GBPAUD 1H BEAR GARTLEY at X@2.05067 with Stops and Targets1. If price reaches the completion of this GARTLEY pattern I will sell. There are three structure highs close to the completion point of the pattern. 2. Stops will be placed above the highest point which is also the A point of the potential BULL BAT pattern. When several highs are close together the highest point often gets tested. 3. Target 1 is slightly above the A point of the GARTLEY pattern. 4. Target 2 is slightly above the 1.618 XA extension. This area had acted as resistance and support in the past. 5. Both stops are moved to breakeven at the 0.618 CD retracement . Target 2 stops are trailed using the DNC indicator once moved to breakeven.
Short
by orvilleawright
EURUSD 1H BULL BAT at Structure Low 1.114xx with Stop and Target1. If price reaches the completion of this BAT pattern I will wait for a reaction (Engulfing bullish candle, Tweezer bottom, etc) within the PRZ. This entry zone has acted as support in the past. It is also at a 1.272 fib inversion. 2. Stop is placed at the 1.13 fib extension of the XA leg. 3. Target 1 is below the 38.2 retracement of the larger down move and slightly below the A point of the BAT pattern. 4. Target 2 is slightly above the 50% retracement of the larger move down. This area had acted as resistance in the past. 5. Both stops are moved to breakeven when target 1 is hit. Target 2 stops are trailed using the DNC indicator once moved to breakeven.
Long
by orvilleawright
Cypher Pattern ,USD Index, 1hr Here we see a solid Cypher pattern on the dollar index. the reason i have elected this trade is because the cypher pattern here suggests the market will complete the larger crab pattern on the daily chart. I believe that this completed cypher pattern will rally short all the way down into the 1.618 extension of the BC leg. I have placed my entry at the lowest high of the cypher pattern, my stop is placed at the highest high of the pattern, and my limit is placed at the 1.618 extension. The big picture here is a retracement down into around 89.2 and then a reversal to continue in an uptrend. but short term, we can make a few bucks on the way down. Thanks for checking in, please feel free to comment your own opinions, like if you agree and follow me for more trades. Thanks again and Good Trading
INDEX:DXYShort
by Kylan_Laymance
Gartley Pattern, EUR/AUD, 60This Gartley pattern formed at the end of consolidation suggests a long movement from a monthly low. if there is a break out of consolidation , the market will likely rally up into the 1.618 extension of the BC leg, around 1.45530. i have placed my order long keeping the risk reward ratio at 2:1. I have placed my stop at the lowest low of the Gartley pattern, and my limit at the 1.618 extension. Remember to like comment and follow me for updates and new traded. Thank You and Good Trading !
Long
by Kylan_Laymance
EURAUD Daily OutlookI wish you all a happy new month and good luck trading! The EURAUD is in a downtrend (60min chart) and is currently under a retracement. The retracement was expected since last week we observed positive/ bullish divergence between price and RSI indicator. This can mean two things; A. There will be a change of trend. B. There is a pause/ recovery before continuing with the downtrend ( Preferred scenario) Currently price is testing key resistance of: Price level 1.44. Top ichimoku hourly cloud. Weekly pivot. This is a good place to add some shorts with first target support zone 1.4320
Short
by stama13