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Counter-trend

Sell GBPJPY (educational)Sell GBPJPY (educational) "kalbotical retracement confluence 1" 1. Up Trend line broken 2. down Trend line formed 3. second leg has a strongest momentum so possible third leg for some kind of 1-2-3-4-5 structure ) You can catch momentu e.g with Squeeze Momentum Indicator 4. Look left for S/R zone 5 perfect Fib level - .618 6. Kalbot RSI shows the fastRSI line in the overbought area, so there is a possible end of retracement 7. Top predictor (or your mentor) loves this structure too 8. Plan your trade trade with one of possible strategies . e.g countertrendline break ( 9 ) strategy StopLoss 30 pips above U-turn Take profit :- 100 pips (3:1 trade) :- or -0.25 Fibs extension (10) :- or Look left for S/R level (11) 12 trade your plan
Education
by quql
1
GBPJPY: Some Longer Term Analysis (Long & Short)I apologize for the sloppy chart but this was the trade that I recently discussed in my Forex market Preview video & didn't want to erase anything just yet. (Link to my youtube page is in the "signature" box below) But essentially there are two potential trading opportunities that I have my eyes on for this pair. A potential counter trend trade (SHORT) if the market were to make it's way up to previous structure resistance. And a trend continuation trade (LONG) if we were to see some relief, in anticipation of a continued move up towards previous structure resistance. Either way i'm predicting that the market has room for more bullish movement, the question is "How Will It Get There?" and How/IF I will be able to get involved. We shall see!
by Akil_Stokes
6
Counter trend trade on EURUSDNice counter trend trading opportunity here. Why? 1. We have fibonacci confluence from a previous high @ 618 2. RSI is overbought 3. ABCD completes close by 4. We are at a strong trend line support 5. We also have a diagonal trend line resistance (not currently drawn on) which would support the shorting bias. Depending on your strategy you might require some further confirmation such as a candlestick pattern or double top. That's what I require to take this on, there might even be some on the lower 15m time frame. Trade your plan guys and if you don't have a plan, best not to trade, not even on a demo account, it's wasting your time. Feel free to message me with any questions and I'll try my best to get back to you. Thanks!
Short
by KISSTRADING
EURUSD - 2618 Setup+++ Don't forget to LIKE & Follow+++After yesterday's big upward move, now price is in a correction mode on 4H, EURUSD. Price is heading lower to test our structure shelf - presenting to us a potential 2618 Bullish Setup. This will be nice opportunity for all of you conservative traders. If you look left price didn't break current structure level @ 1.1130s, we only got Double Bottom. This Double Bottom is the foundation for our 2618 Setup. Price is giving us nice kill zone and alignment of 0.618% and the inverse "V" of the DB. I'm expecting price to enter in the KillZone and I'll wait for an entry reason. Stops below DB, 1st target will be previous cycle top - I'll trail 2n position. Good Luck! -Alex I'm a Professional Currency Trader & Mentor with years of trading experience. Download my Free Ebook & transform your trading Today! bit.ly If you'd like to see more good trading ideas from me, click the "Like" button! You can get my trading ideas immediately, just make sure to follow me.
Long
by Aleksandar_Rose
EURJPY - Bullish 2618+++ Don't forget to LIKE & Follow+++I have my eyes on a potential Bullish 2618 Setup on 15M here on EURJPY, and I think this is perfect counter trend trading opportunity . You may ask why? We don't only have a conservative entry reason in the face of this 2618 but we can stack on it. The Double Bottom(foundation of 2618 Setup) is right at Structure Low - look left on HTF (1H). The 0.618% is right at the V of the Double Bottom - and our kill zone start from there. Not to mention that on left Bottom we have a RSI under 20 with a RSI DIV on 2nd Bottom. You can enter aggressively right @ 0.618 or you can look for alternative entry reason - either way you choose you'll get more than 1:1 Risk/Reward. No matter how perfect this setup is, stops are below this Double Bottom and 1st Target Retest of the cycle high - you can shoot 113.30 for 2nd Target. Good Luck! -Alex I'm a Professional Currency Trader & Mentor with years of trading experience. Download my Free Ebook & transform your trading Today! bit.ly If you'd like to see more good trading ideas from me, click the "Like" button! You can get my trading ideas immediately, just make sure to follow me.
Long
by Aleksandar_Rose
NZDUSD - Beairsh 2618+++ Don't forget to LIKE & Follow+++I got filled in this Bearish 2618 Setup on 1H, here on NZDUSD. 2618s provide conservative way for entering in counter trend opportunities. This particular 2618 is really good because we can target 1st target at current cycle low - look at that beautiful Risk/Reward factor for 1st target. For 2nd target we can shoot for the previous structure - we will get deep correction move of last upward wave(blue one). Good Luck! -Alex I'm a Professional Currency Trader & Mentor with years of trading experience. Download my Free Ebook & transform your trading Today! ow.ly If you'd like to see more good trading ideas from me, click the "Like" button! You can get my trading ideas immediately, just make sure to follow me.
Short
by Aleksandar_Rose