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Bearish Butterfly

GBPUSD-Weekly Market Analysis-Nov22,Wk2Let me know if this analysis confused you. Comment at the bottom; I like to know. The entire structure is on a bearish trend; there is an ascending channel that is shaded red, from that you know that my bias is looking for a shorting opportunity. As long as the market movement is kept within 1.1736, the bearish trend is considered very strong. Failure to do so, I will patiently wait for the market retest 1.2572 for a shorting opportunity on the Bearish Butterfly Pattern setup.
Short
by RaynLim
2
AUDUSD - Bearish ButterflyA Bearish Butterfly rested in the key resistance zone is usually a perfect setup for me, however, there are some imperfection on this setup. A break and close above the previous Bearish Trendline. This is true, but at least it didn't break and close above previous structure, fingercross. The next thing I'm not comfortable is that the 4-hourly chart has an emerging Bearish Shark Pattern resting at point B, a break and close above point B would put this Butterfly Pattern in an disadvantage. Be in the now is important, it is a valid setup, I'd engaged it but I will watch closely and review it 3bars from now, which is 2-3hours time. What am I looking out for? - to see if the PRZ has been violated - to see if the market retest the bearish trendline and fail to break and close below the trendline - to look at candlestick formation
Short
by RaynLim
EURUSD-Weekly Market Analysis-Mar22,Wk1If you have engaged the EURUSD trading ideas on Friday, you would have earned 106pips(1,060USD/lot) from Bullish Bat, and have your stop-loss at entry and attained a risk-free trade . Trend Traders can wait for a shorting at 1.1307. You may wonder, hey, you were long on the 4-hourly chart, why look at short on that 1hourly chart. If you have checked and compared the trade you would know that by the time the Bearish Butterfly Pattern form on the current timeframe, it would have passed the Target 1 of the 4hourly chart Bat Pattern. The 1hourly Butterfly Pattern could be a retracement on the 4hourly chart. Besides, a lot of Harmonic Pattern Traders took off major position on the first target, when that happens, a retracement is expected. However, if this is too confusing for you, stick with a single timeframe trading, and if you are looking to excel, look for a trading coach.
Short
by RaynLim
2
USDJPY-Weekly Market Analysis-Feb22,Wk4If you have read the previous post(the article is within the link to the related idea within TradingView), the Bearish Butterfly has already brought you 167pips(approx. 1,670USD/lot traded) of profit. Should the market continue to fall and reach 114.58, it will be a Bullish Gartley Pattern for trend traders to hop on the trade for a buying opportunity. However, if the market reverses from this point, you should be able to catch the Bearish Bat Pattern on the 1hourly chart.
Long
by RaynLim
USDJPY-Weekly Market Analysis-Feb22,Wk3If you had not read my post at the bottom, most likely you had missed the Bearish Butterfly Pattern that already gave 69pips of profit on the first target and just visually a bit shy away from its second target that has the potential to bring another 114pips of profit. It is important that in trading, we never, ever, ever chase the trade. However, we could wait for the market to retest back to the consolidation zone in hope of forming a Bearish Bat Pattern or a Bearish Gartley Pattern for us to hop right into the trade or to have an add on of our trade. There are three things that a trader needs to have. First He or She has to be able to read the trend, secondly, the ability to plan the trade execution and lastly to have the patience to wait for the setup to complete.
Short
by RaynLim
XOM Shorting Opportunity?Hello Everyone. I wanted to give you guys and girls a heads up on XOM. I'll Like to share what I'm seeing. Lets start with the euphoric sentiment around the energy sector. As you may know there's a lot of bulls right now calling for oil to keep going up and along with it, energy stocks. When I hear euphoric chatter around a sector or a particular stock, I like to do the opposite of what people are saying. In other words when there are too many bulls, red flags and bells should be going off in your head. With that being said. Here are my thoughts on XOM: 1) The sentiment is too bullish, 2) A lot of good news coming out lately i.e stock buy back announcement recently, which gets the bulls more euphoric and 3) The technicals are pointing to a significant reversal very soon. I illustrated above 2 factors that gives me high confidence of being right. 1) The near completion of wave 5 of the 1st leg imo. Yes I believe XOM will go MUCH higher long term but 1st a major pull back and with this pull back many of the bullish sentiment will be CRUSHED and that will be an opportunity to go long XOM again. And the final factor is a bearish Butterfly harmonic pattern which it happens to align with the final wave 5 of leg of 1. With that being said, Please keep in mind I'm only sharing what I'm doing, I'm not a financial advisor and I'm not telling you what to do. Good luck everyone!
NYSE:XOMShort
by FreedomBuilder
7