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618

Flag pattern on AUDNZDHi guys, here on AUDNZD we have no structure looking left on the higher timeframe. In cases like this i start looking for simple pattern formations, like flags, triangles and wedges in the trend direction. On the chart above you have what could be considered a flag pattern that's been broken to the upside. Price is now retracing back and giving us a better risk to reward ratio. Stops below the previous lows, target1 at the retest of the highs, target2 to be determined (could go very far). If you want to share your viewpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
2618 setup in a Trend continuation tradeHi guys, just wanted to share with you this simple structure analysis on EURAUD. As you can see on the left hand side of your screen, this pair finally broke the 1,41 strong support that has been created previously. In this case we know it is a short signal, but we should wait for a retracement instead of chasing the price. So, i wait patiently and now price is up to the broken support that could become resistance once is broken. Thus, i start looking for clues on lower timeframes such as 4H and 1H. On the right hand side of the chart there's the hourly chart of this pair and you can see price has formed a double top followed by a break of structure to the downside, and this represents the selling signal were looking for in order to enter the market. I'll wait for a 618 retracement and then sell at market with stops above the highs and target1 at the retest of the lows. Target2 to be determined. I'll keep you updated. If you want to share your standpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2618 at previous StructureHi guys, just wanted to share with you this simple structure analysis on EURAUD. As you can see on the left hand side of your screen, this pair finally broke the 1,41 strong support that has been created previously. In this case we know it is a short signal, but we should wait for a retracement instead of chasing the price. So, i wait patiently and now price is up to the broken support that could become resistance once is broken. Thus, i start looking for clues on lower timeframes such as 4H and 1H. On the right hand side of the chart there's the hourly chart of this pair and you can see price has formed a double top followed by a break of structure to the downside, and this represents the selling signal were looking for in order to enter the market. I'll wait for a 618 retracement and then sell at market with stops above the highs and target1 at the retest of the lows. Target2 to be determined. I'll keep you updated. If you want to share your standpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
EURUSD buy setupHi guys, nice opportunity here on EURUSD. Price is pressing against a daily & 4hr structure level that seems to hold. We can say that simply by looking at the chart itself, price action creates a first low (at a psychological level) and then when it comes to retest it, it fails to create a new low and insted sets an equal low. This is the first sign that price isn't strong enough to break that level and we can assume that maybe its the starting point of a change in the direction of this market. When i see situations like this i start gathering different clues of my viewpoint in order to increase the likelihood of the trade. That's why i wrote them down on the chart above. Besides structure (and psychological number), price is at the 618 retracement of the bigger daily leg, and the RSI is in divergence with the price's movement. Also, price's put a nice engulfing candle at this level, giving us a reason to enter the market definetely. Stops below the lows, target1 near 1,0580, target2 to be determined (somewhere near 1,0650-80s. Good trading! If you want to share your standpoint or ask questions, feel free to write below. Otherwise, see you in the next chart!
Long
by Roker1
EURUSD long setupHi guys, nice opportunity here on EURUSD. Price is pressing against a daily & 4hr structure level that seems to hold. We can say that simply by looking at the chart itself, price action creates a first low (at a psychological level) and then when it comes to retest it, it fails to create a new low and insted sets an equal low. This is the first sign that price isn't strong enough to break that level and we can assume that maybe its the starting point of a change in the direction of this market. When i see situations like this i start gathering different clues of my viewpoint in order to increase the likelihood of the trade. That's why i wrote them down on the chart above. Besides structure (and psychological number), price is at the 618 retracement of the bigger daily leg, and the RSI is in divergence with the price's movement. Also, price's put a nice engulfing candle at this level, giving us a reason to enter the market definetely. Stops below the lows, target1 near 1,0580, target2 to be determined (somewhere near 1,0650-80s. Good trading! If you want to share your standpoint or ask questions, feel free to write below. Otherwise, see you in the next chart!
Long
by Roker1
2618 setup on AUDUSDHi guys, i want to share with you a nice setup that i'm gonna pay attention to over the next days. As you may know, 2618 is a strategy that consists on selling/buying the 618 retracement of the leg that breaks the double top/bottom's neckline. In this case, we can also see that it happens to be right on the previous support (that should act as resistance once is broken). So i know the blue box could give me a nice shorting opportunity. Furthermore, our analysis of the higher timeframe (daily) says that price is at a high location and maybe it's starting a pretty big downward movement. Also, i want you to notice how can we reduce our risk if we manage to find a specific candlestick formation in the highlighted box; in that case i would put my stops just above the signal (and above the black dotted line) and it would give me a much better risk to reward ratio (key factor in every trading strategy). So, if you're a 2618 trader you can take this trade as a traditional one (with stops above the double top and target at the retest of the lows); otherwise you can wait for price to come to the blue zone and then wait for a specific candlestick formation so that you can short the market with stops just above the 4hr resistance (black line). Your choice. If you want to share your standpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2618 setup on AUDUSDHi guys, i want to share with you a nice setup that i'm gonna pay attention to over the next days. As you may know, 2618 is a strategy that consists on selling/buying the 618 retracement of the leg that breaks the double top/bottom's neckline. In this case, we can also see that it happens to be right on the previous support (that should act as resistance once is broken). So i know the blue box could give me a nice shorting opportunity. Furthermore, our analysis of the higher timeframe (daily) says that price is at a high location and maybe it's starting a pretty big downward movement. Also, i want you to notice how can we reduce our risk if we manage to find a specific candlestick formation in the highlighted box; in that case i would put my stops just above the signal (and above the black dotted line) and it would give me a much better risk to reward ratio (key factor in every trading strategy). So, if you're a 2618 trader you can take this trade as a traditional one (with stops above the double top and target at the retest of the lows); otherwise you can wait for price to come to the blue zone and then wait for a specific candlestick formation so that you can short the market with stops just above the 4hr resistance (black line). Your choice. If you want to share your standpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
5
Some confluence on USDCADHi guys, i'm already involved in a CAD trade so i'm not taking this one. Nonetheless i want to share it with you so that anybody could take advantage of this opportunity and maybe get something out of it. Here you can see price is giving us different hints of its reversal. First, it's right in the previous resistance zone (where sellers are ready to join the market), second, there's a Bat pattern completing there, in confluence with a .618 retracement of the previous bigger leg. In addition to that, you can see the RSI is overbought. The final sell signal comes from the shooting star that has been formed right now. Stops above 1,34 level, target1 at roughly 1,25:1 RR, target2 along with bat's target2. I'll keep you updated. If you want to share your viewpoint or ask questions, use the comment section below. Otherwise, see you in the next chart!
Short
by Roker1
NZD/CHF 1hr chart long.Fib levels are showing retracements of 0.618 and 0.5. 6 hours before (including the present candlestick that hasn't properly been formed yet.), there is a hanging man candlestick that forms and acts as support on the 0.5 retracement line and the candlestick before that acts as support for the 0.618 retracement line. I would safely assume you should either buy on the 0.5 or 0.618 retracement line and take profit at the 1.618 or 2.618 profit target. (p.s, I've edited the retracement to add in what my modified version of the profit target) Check this out guys and keep following me for more updates and more technical analysis.
Long
by chiefcapitalfx
2618 at market on GBPNZDHey guys, today i want to share a setup which is available at market right now. In this situation price si coming back to retest a daily structure zone (blue rectangle) after a double top formation that's been broken to the downside, as a confirmation signal of the direction it's headed. You can short the market now according to the 2618 technique, with stops above the highest highs, target1 at the retest of the lows and target2 at the 1,70 even handle number. Let's see how it goes. If you have any question, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1
2618 trade on EURUSDHey guys, after banking some pips over the night on the AUDCAD trade (see attachment) i want to share with you a 2618 trade that's forming on EURUSD. For those of you who aren't familiar with this formation it basically consists on selling/buying the .618 retracement of the leg that breaks the double top/bottom's neckline. You can see the visual illustration above. All the entry and exit levels are displayed on the chart. Good luck! If you have any question, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1
8