EURUSD Two Trades1. Short term trend continuation setup; waiting for break of trend line
2. Breakout of channel, waiting for retest and confirmation that price will move lower.
Channelbreak
Triangle pattern with target in ResistanceLooking at a pattern that forms in trednphases, Triangle (sometimes in form of channels, wedges or flags)
These triangles tend to breakout into the direction of the underlying trend (here long) for more or less the same distance than the initial impulse move. In my understanding the psychology is somewhat like the ABCD pattern. So here we chase the D point. Looking at a 100% projection of A to B we see that this harmonic move ends in a Swing High resistance wich acts like a magnet to price action.
Personally, I am not waiting anymore for the price to breakout of such triangle becasue most potential profit will be gone so I postioned now.
Once the Target is hit, we will change side and be sellers going for a retracement bounce out of resistance.
Break of Channel on RBA meet?GBPAUD is trading in a channel since long time and is trying to push on the upside.
While looking at the strength of the bulls and the resistance to take support it is likely that it may break on the upside on RBA rate meeting!
Due to the uncertain nature of markets, enter according to the price action.
USDJPY Wedge Pattern UpdateRetest of old support. Bearish divergence 30 min, 1h, 2h chart.
Will look for a break of the trend channel.
USDCHF Channel Breakout+TriangleTriangle has formed after channel-break, consolidating at 30 min 100 EMA. Waiting for a breakout, should it break out to the upside-> targeting trend line or 2h 100 EMA.
short audusd we have breakout this up channel.
we have triangle here .
we can sell now or after breakout this triangle,
i prefer w8 for breakout.
XRP potential breakout and new trend.What a pattern breakout, then a channel breakout could look like. A buy on channel breakout confirmation, hold til 25k.
GBPUSD Two TradesShort: Channel breakout, retested 100 EMA in 1h chart. Target: EMA D or Fib. 50%
Long: Rejection of 100 EMA in D chart, after wedge breakout. Target: Structure resistance
XRP longshot inverse h&s and channel break.At best 50/50 and I'm not a fan of h&s on this time frame, but XRP is going to pop soon, just a matter of catching the setup when it does.
AUDUSD Channel Break + Double TopWill watch out for news in an hour and hopefully get an opportunity to trade.
NZDJPY - Potential Breakout of Sideways Channel One of the pairs looked at in tonight's video was the NZDJPY which features a sideways channel directly after creating a new structure high. As I mentioned to our traders, both simple & advanced pattern formations don't necessarily have very high win rates. In fact, i would argue that most strategies, in general, don't complete at the levels that you here certain internet guru's bragging about.
The real gem to setups like this are the risk-reward that is given and as you can see, in a situation like this that offers an 8:1 ratio....you don't really have to be right that often to be profitable.
*Obviously the risk reward levels on this chart are just ideas & not actual levels that you should put your entries, stops & targets at*
Akil
USDCAD break below channelPrice broke below the consolidation channel, has retest the broken structure and took the heading to the lower structure
EURJPY Channel Breakout Lower highs in 1h chart, channel Breakout, bearish engulfing candlesticks in 4h chart.
Seems possible that the megaphone (link below) retest is going to happen.
EUR/GBP shortPrice has been in an bullish channel. We have now seen a break so now can look to take it back down to the lows.
USDCAD : Next Breakout Candidate, Be Ready !Here is our next breakout candidate USDCAD, no change in our plans. We are going to do the same way we nailed EURUSD. Wait patiently for the breakout, yes thats frustrating time then enter the Breakout direction & bag the pips :)
Happy Trading !
