Price Trapping with harmonics signalsHarmonics Scanners calling a SELL (butterfly pattern)
Rules on chart
use risk management
Breakandretest
Break And Retest A Break And Retest On USDCAD, the rejection is off the 61.8 fib level... Potential setup for a short
EURUSD BREAK & RETESTHere we have a high probability drop.
CONFIRMATIONS:
1) It breaks & retest it's channel
2) Based on price action (1H candles seem to reject the buyers & wants to keep going down).
3) DXY (Dollar Index) seems to bounce up that mean the opposite for the EURUSD
4) It was forming for a drop but because USD PPI it go up to retest.
5) Market go to EMA 200 & respected it so EMA 200 works like resistance to EURUSD.
6) EMA 50 breaks EMA 200 to downside.
ENTRY: (1.1768)
STOP LOSS: (1.1803 - 35 pips)---> 1.1800 key level
TP1 : (1.1733 - 35 pips ) 1:1
TP2 : (1.1698 - 70pips) 1:2
HAVE FUN & HAPPY PROFITS ! ! !
AUDJPY, wait for pullback.Price is in an uptrend on the 4H time frame forming higher lows and higher highs. Price could either decide to pullback to the support and resistance zone before continuing to buy OR it could pullback to the trend line for a 3rd hit before continuing with this uptrend. Drop to a lower time frame for a better entry if this setup plays out. Happy trading!
Note: If price does not respect either of these zones and breaks through both the support zone and trend line, wait for a retest before looking for bearish trades.
Interesting shorting scenario for EURJPY (4R)On a weekly EURJPY is moving inside this descending channel, currently rejecting its upper border.
On H4 market broke consolidation area and now is retesting it.
This level was playing a big role in the past, as seen from the weekly chart.
This is round level of 125.00
NZDCAD, 4HR - Potential SellHead and shoulders pattern, price broke neckline. Waiting for a retest of the neckline and for price to show bearish signals at that level to proceed to sell at that level #newbietrader
Feedback is helpful
NZDCADHead and shoulders is forming and it is already at neckline zone. Possible break and retest of the zone and opportunities for short trade.
GJ 120 pips Sells BreakdownPrice broke below the support we highlighted, however as there was no lower wick on the 1h breakout candle, price had no clear range to move down, so instead of moving to the lower timeframes to look for selling confirmations, I stayed on the 1h timeframe and decided to look for a break and retest setup, as it was not on a lower timeframe my confidence for this trade was pretty good.
As soon as we tapped into the broken support zone, I took an entry with half of my usual risk, stops were above the previous candle and my TP was highlighted on the chart.
Profits were taken at each of the support zones as we tapped into them, this lowered our risk and secured profits.
When we hit our final target, we removed our TP and let 10% of the trade run, the target for this was 135.887, as this was a possible rejection zone and also 120 pips profit. This target was also hit before price formed support to continue back up.
Eurusd shortIf you take a look at EU on the smaller time frames you will notice a head and shoulders pattern that is playing out quite well. Right now the head and shoulders pattern looks to be retesting the neckline as the markets came to a close. On our higher time frames you’ll notice the daily candle has broken the low of the previous candle. On top of all that its at a retest level as well as a 61.8 fib level that so far is being respected. I believe if the next daily candle rides down to break the current 1D candle we should see a huge sell off.
AUDPY POTENTIAL SELL BREAK AND RETEST OF FORMAL STRUCTURE ASWELL AS IT WILL REJECT .5 FIB AT THAT LEVEL WITH BEARISH DIVERGANCE AND CREATE THE TOUCH ON TREND LINE GOOD 1;6 PENDING
AUDUSD 4R possible tradeAUDUSD is showing uptrend on daily, currently retesting important support. On H4 this pair already showed double bottom. One more confuence is bullish COT data for AUD. Placing a buy limit, expecting slight push to the downside and then up to test marked levels of resistance.
CHFJPY 3R sell IdeaCHFJPY is showing LL and LH on H4, recently broke important level, which acted both as resistance, support, and now we can expect it to act like resistance again. If the price will show signs of weakness during possible retest, then chances are we can see one more bearish push.
USDCHF Long Analysis - September 29, 2020USDCHF closed on the daily timeframe right on equal highs
This is break and retest strategy
Currently price is below the 0.92000 key level
Awaiting for price to break above and test, there is a small 1 hour resistance right at 0.92000. Once price breaks above this, this is a valid buy. Stop Loss below the support level.
USDCHF, break and retest.Price is currently in a pullback on the 4H chart. Drop to a lower time frame and wait for a reversal pattern to form before taking a bullish trade.
AUDJPY BIAS We got price holding at weekly demand i had drawn up ( green zone ) and is creating support as you can see on the 1 hr timeframe and the 30 minute timeframe as well .Price can either break demand retest and follow through or reject and go to the upside , from what i see im leaning towards the idea of price going towards the upside BUT , you can never be to sure , only take the clues and hints the markets give you and never pull the trigger unless your 100% sure of the outcome ! , Happy trading everyone :)
This is merely MY outlook and not advice on what YOU should do just my opinion on what I see
