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Countertrend

GBPAUD - Bullish Deep Gartley Some traders may read this as a type 2 Bullish Bat Pattern but are certainly not for me. If you are having that conclusion by reading the candlestick pattern, you aren't wrong, but once again not for me. I would prefer to engage the trade based on the latest Harmonic Patterns formed in the chart, which is the Bullish Deep Gartley Pattern. The Deep Gartley Pattern form near the Buy Zone within the 4-hourly chart. Have a closer look at this on Monday if not latest by Wednesday, it should form up if it is meant to.
Long
by RaynLim
1
GBPUSD-Weekly Market Analysis-Jan22,Wk4We are already in this trade. The 1-hourly chart Bullish Shark Pattern, check the link within the TradingView for more insights on this trade. But if I were you, I will wait for a break and close above of the blue trendline that was highlighted in the chart, that will give further assurance on the trade, but you will have to trade it off with the better entry price you are getting at this moment and the RSI has a RSI Divergence at this moment, but I were you, I will be waiting and that is because there is a Bullish Butterfly Pattern that complete at a lower price at its 4-hourly chart. To be honest, even within the Butterfly Pattern in the 4-hourly chart. It is definitely a good idea to have one more filter checked off. What would it be like for you? 1. Engage Now 2. Wait for candle break and close above the trendline 3. Wait for Bullish Butterfly on the 4-hourly chart. Comment down below.
Long
by RaynLim
6
GBPUSD-Weekly Market Analysis-Jan22,Wk2Compare to EURUSD, the GBPUSD Bearish Deep Gartley Pattern isn't as promising. There are 2 reasons for that: 1) The candle break and close above Point D, the PRZ. 2) Point BC has a violation. You can DM me on the reason for the violation and I let you know if you are on the right track. However, if you are a 4-hourly chart trader, you can wait for candle confirmation to engage a counter-trend trade not because of a Double Top but a retest of previous high with RSI Divergence.
Short
by RaynLim
GBPUSD - Consolidation at Bottom of Channel - Pullback expected*** Trade at your own risk! *** *** Not every idea is also traded by us *** Hi Traders! The setup of the idea is that the price is at an Area of Confluence right now and that leads us to a Pullback. It represents a Counter Trend Trade. The Area of Confluence, where price consolidates, are... @ the weekly Support and @ the Bottom of the Channel and after a weaker getting down-movement. That leads us to the result, that the market might pull back in the near future. Possibilities to enter: - Enter at the Break of the Consolidation --> (no FOMO, but fearness of Fake-Out) - Enter at the Retest of Break of Consolidation --> (safe(r) trade, but might miss it --> FOMO) - Enter after Pullback of Break of Consolidation (that means, that price can get deep into the consolidation again, before turning back up) --> (buying when others don't see it, need more confirmation for bullish Movement) - Enter now and wait for the Breakout --> (guarantee of good price when Breakout, but possible to hit your SL before going) Try to set your TP near to your entry. The last most likely TP would be at the upper Channel-TL which confluences with "Golden Zone" (Fib') and (low TF) Resistance. If you would like to ask or comment something or if you'd like to share your view, then you're more than welcome! Thanks and successful Trading :-)!
Long
by swissmoneymakers
2
GBPUSD-Weekly Market Analysis-Dec21,Wk3Undeniable GBPUSD is on a Bearish run. However, there is a chance that the counter-trend traders may push, once the market break and close above the Buy Zone(blue) especially on the Daily Chart, the Blue wins. For Harmonic Patterns traders or trend traders, there is an unbroken Bearish Gartley Pattern on the 1-hourly chart that is ready to be traded once the market open. The only downside of the setup is that Point C touches Point A. We can argue that Point A has an ultra-long candlewick, but rules are rules
Short
by RaynLim
4
NZDUSD - Bullish Deep Gartley @ XI know, I know... Lots of Harmonic Traders will not take this trade. But personally, I've tested this particular formation for more than 5years and it works perfectly for me so I'm going to take it. Deep Gartley Pattern at X is my favourite setup as it gives 1 of the best reward:risk ratio which happens to be the top 3 filters in my list. Combo with long shadow candles and counter-trend level off the daily chart became the best setup I could find. I've made my decision within seconds when I spotted this setup. Trading doesn't require you long hours starring at the screen and waiting for it to hit target or losses, you just let it run and set an alert at the right place. These became easy when you have a good coach that teaches you how to and where to. Check out my signature at the bottom
Long
by RaynLim
2
AUDUSD ANALYSIS I hope this should enlighten you more to know that we are now going to be printing some downtrends in currency AUDUSD, there was counter trendline analysis I made there and that should also help after completing the “M” formation we should see a little move to the upside and continue the downtrend, I’ll be glad seeing AUDUSD in $0.65-$0.60 levels As you can see my OB a lot of buyer are placing their order at that price ranges. Correct me if I’m wrong, Thank you!
Short
by w4jufx
4