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60min

AUD/USD 60 min .618 Blow OutThere is a potential long opportunity on the 60 min time frame. There is a .618 retracement and 1.272 extension lining up in a nice demand zone. Price is holding around .7134 at the .50 fib level. I'm looking for price to have a False breakout to the down side right into the that .618 level. I'm looking for price to reject the drop-base-rally area at .7114-.7120. I will have stops just below the swing low around .7108. Looking to take profits around the swing high around .7182. Good luck trading.
Long
by ChrisThein
EURJPY 60min Bearish TCTLooking to short EURJPY around the 129.00 even handle. Market is Bearish, so I'm looking to sell the rallies. Entry - I look to short somewhere between the 61.8% and 78.6% Fib Retracement. I move down a Time Frame and look for a Reversal Pattern via Candlesticks. Right now we have an ABCD Pattern completing in that area. I'll be looking for other things such as: RSI O/B, Advanced Patterns, etc.. Right now there is a Fib Inversion lining up in that area. Stops - 1 ATR Above the last Swing High Target #1 - Retest of Previous Lows Target #2 - 1.27% Fib Extension
Short
by PateSkpate
3
USDCAD 60min Balance Area BreakoutUSDCAD has retraced almost back to Daily Support and is balancing just ahead of the Support Zone. These Balance Area's make for good Breakout trades. Balance areas are simply just Accumulation or Distribution (we don't know which one it is until the market tells us, which is done by breaking out). This trade will be valid which ever way it breaks. I would think a breakout to upside would gather the most traction but you never know! RSI is starting to give a clue by showing some Bullish Divergence. Although, this is not a signal to enter the trade for me. Entry - I use a Break & Close out of the Balance Area for my entry. Stops - I use 1 ATR Above or Below the Breakout Bar. Target#1 - I use a measured move of the Balance Area (Blue Line). -For the Upside break, Target #1 has confluence with Structure and a 38.2% Fib Retracement from the highs. -For the downside break, Target #1 is simply just the measured move. Target #2 - I use the next Major Fib for Target #2. -For the upside break, Target #2 has confluence with Structure and the 61.8% Fib Retracement from the highs. -For the downside break, Target #2 is simply just the 1.618% Fib Extension. Best of Luck!
by PateSkpate
12
USDJPY Bearish Trend Continuation Trade & GartleyUSDJPY is still holding its current downtrend on the 60min chart. Until this trend reverses I will continue to sell all rallies. Currently we have a Gartley, ABCD Pattern, and Fib Inversion all lining up in that "Sell Zone" (Purple box). This gives us a CTS score of 8. If the RSI goes Overbought and/or we get Divergence on it, then we could have a score of 9 or 10. Entry - I will use the Gartley Pattern to enter this trade aggressively. Stops - 1 ATR above last Swing High Target #1 - Retest of Previous Structure Lows Target #2 - 1.27% Fib Extension of the last down leg
Short
by PateSkpate
1
AUDUSD Trend Continuation Trade (TCT) Bat Pattern for EntryAUDUSD has been in a heavy downtrend. Just keep selling the rallies. I'm using the Bat Pattern for my Entry on this Trade. The Fib Inversion lines right up with Bat Entry. The Bat lines up with Structure on the 1hr Time Frame. I'm am going to assume that the RSI will be oversold once up there. CTS score of 7. If we get any divergence on the RSI that will put us at a score of 8. This trade will give us Massive Risk to Reward! Best of Luck!
Short
by PateSkpate
4
Crude Oil WTI 60min Trend Continuation & Bear CypherStill looking to sell Rallies in Crude. I'm looking for a deep retracement back to $40.00 level. $40 is a key level for Crude if we want to maintain a Bearish view on the market. For all of you that use Combined Technical Scoring System (CTS) to help evaluate trades, we are already at a 7. It will more than likely get a higher score as it comes time to enter. Reasons for Entry @ $40.00 1. Bear Cypher - Cypher Completes right at the $40 level. 2. Major Structure - We have Major Structure at the $40 level with multiple tests of it on the way down. So we can assume that it will act as Resistance on the way up. 3. Fib Inversion Trade - Take a Fib Inversion off the last pullback down at the lows and looking to sell the 1.618% Fib Extension
FX:USOILShort
by PateSkpate
1
USDCAD 60min Balance Area Breakout Opportunity USDCAD has had 9 Straight days of Advance and has been VERY Bullish. It's currently in a nice Rising Channel. The Balance Area at the highs looks like Distribution to me. A lot of times this is a "topping pattern". So, I'm waiting for a Break & Close out of the Balance Area (Yellow Box) and will enter a short position. Stops - Will be 1 ATR above the Breakdown Bar. Target #1 - Will be a measured move of the Balance Area (Purple Line) Target #2 - Will be at Minor Support for a downside breakdown. 1.618% for the upside breakout You can see that the RSI has massive Divergence at the highs as well. I will also take the trade to the upside but I think the downside breakdown is the most probable scenario.
by PateSkpate
7
USDJPY 60min Bear Trend Continuation (TCT) & Bear GartleyUSDJPY, like all JPY crosses have been declining in heavy trend. I'm looking to Short USDJPY on the 1hr using a variety of entry techniques that are all lining up in one area. 1. Trend Continuation Trade - I like to sell these pullbacks somewhere between the 61.8% & 78.6% Fib retracements. I like to see some sort of Reversal Pattern or Candle in that area before I pull the trigger. 2. We have a Bear Gartley Pattern that completes right in my "Sell Zone". 3. There is structure looking left. 4. Fib Inversion Trade - The 1.618% fib inversion of the pullback puts price right into my "Sell Zone" 5. ABCD Pattern - There is an ABCD Pattern that completes right in my "Sell Zone" 6. Higher Time Frame - HTF is supporting a down move to about 116.000 and is Trending down currently 7. Ratio Confluence - There is a "Fib Cluster" that all packs into my "Sell Zone" Depending on how you score it using "Combined Technical Scoring" (CTS), its' at an 8 right now. If the RSI goes overbought then we will be up to 9! - Stops need to go AT LEAST 1 ATR behind the Reversal Zone and tucked safely behind that 119.00 even level. - Targets will be what ever your Trade Plan says. My Trade Plan has me placing Target #1 at the Previous lows of the trend and Target #2 at the 1.27% Fib ext.
Short
by PateSkpate
5