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Massive Bearish Bat PatternThere is a massive potential bearish bat pattern currently setting up on the EURUSD. Now this pattern is on the Daily Time Frame, so make sure to check your risk. If you use a 1 ATR Stop, you will have 200 pips of risk. If you can handle the risk though, this is a very nice potential opportunity. This will complete at 1.11896 with minimum stops above X at 1.12989. Target 1 will be at the 38.2 Fibonacci retracement level (1.08651) and target 2 at the 61.8 retracement level (1.06646). As always, follow your plan. Good luck and good trading.
Short
by tommyb35
Cypher Pattern + Double Top on CHFJPYHi guys, this may came too late but for pattern traders, this is still a valid entry reason, i usually take patterns with a limit order only when certain condition are met, and this is not the case. However i can still enter the trade with a valide structure reason, like the double top that you see here (with RSI Divergence). If and when price will come back, i'm going to sell this market, hoping for a completion of the pattern's targets. Stops above the highs (and possibly above X), targets with 382 and 618 retracement of AD. If you have questions or if you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
4
Harmonics + Structure! (CHFJPY analysis)Hi guys, this may came too late but for pattern traders, this is still a valid entry reason, i usually take patterns with a limit order only when certain condition are met, and this is not the case. However i can still enter the trade with a valide structure reason, like the double top that you see here (with RSI Divergence). If and when price will come back, i'm going to sell this market, hoping for a completion of the pattern's targets. Stops above the highs (and possibly above X), targets with 382 and 618 retracement of AD. If you have questions or if you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
4
Discipline in trading is especially hard for forex tradersI love trading forex due to many reason one being the high volatility. You almost always get second chances for entries and exits. Prices tends to oscillate around their "fair value" al to more than in Stocks or ETF´s. There is almost no pair the rallies 50% in a year. While there are scenarios for early exit, one should only execute such planed exceptions right? But even after 12 years of trading my n°1 mistake remain early profit taking!
Short
by LorbeerInv
Power of multiple Strategy System - Free Strategy coming up!No matter where the market is going? With a multiple Strategy System you can create opportunity in almost any market condition. Here, red short ABCD and orange long Gartley to name only 2 of the upcoming opportunities. My preferred package is mid-term trend-following + short-term anti-trend + Simple & Advanced Price Pattern. ROI +/- 200 pips p.a. and per FX pair, netted of trade size. As the interest on my system increases on social media and my personal network, I am working on an online module to teach these basics of my system and show you how to use these principles if you wish to. This is no marketing and the modules are totally free so if you have any interest in following the publications please put your email in the comment.
by LorbeerInv
60% chance of making 2 time 500 Pips until SeptemberPreferred scenario for the summer: USD/JPY did not made into the major support area 107 - 106´s. JPY could still show strength against the US dollar, hence I gave it a first split entry at resistance to chase the 107 low prices. However, new low prices often only come after a some kind of ABCD correction. I am typically planning a second entry on D somewhere between 1.141 & 1.618 of bc, depending n the lower timeframe price action and if an advanced price action pattern will appear. First target at the april lows and second around the 107 - 106 low depending on the momentum of the desired short fall. If my underlying assumption is wrong I will hedge prices above the March highs to stay neutral and see if USD pushes above 118.6 JPY. Any one having similar midterm assumption at this stage?
Short
by LorbeerInv