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Countertrend

EURUSD-Weekly Market Analysis-Sep20,Wk2You see there are 3 scenarios on EURUSD and all 3 I am waiting for shorting opportunity. That's because EURUSD on the daily chart there is an RSI Divergence. If the market can't break and close above the black box, I'll head in for a shorting opportunity base on the bearish flag pattern. If the market head up straight to the red box then I will be looking to sell within the preferred shorting zone(red box). Even if the market break and close above the red box, I'll be waiting at the bearish shark shorting opportunity.
Short
by RaynLim
Week 36: ZSX 20202 let's do the counter trend!Bullish week for ZSX 2020, the resistance level was breached and no sign of slowing down. When everyone is having bullish reading, it is a good opportunity for us to Short. I would split my call today into two sections: If you are a scalper and speculator, now or today is a good time for you to LONG ZSX 2020. Not much upside, but you can do a "quicky" as follows: Buy at market which is now around $964.50 Take Profit at $975 area Stop Loss at $960 And here is my calculated trade opinion on ZSX 2020: Sell Limit at $975 Stop Loss at $985 Take Profit at $960 Risk Reward Ratio = 1.4R Disclaimer : The analysis above for educational purposes only, I do not responsible for your losses. Please adjust your own lot sizing according to your appetite. If you are benefiting from my trade opinion, please buy me coffee . As always, move your SL when you are in the profit zone.
CBOT:ZSX2020Short
by machintose
AUDCAD - 2nd Level of StructureWhen I first took a look at this on Friday afternoon I mentioned that I had a sneaky suspicion that the first level of structure would not hold & I would be very hesitant about looking for trading opportunities at that area. As I come back to check the charts now I see that we actually ended up violating that level before the days end. This sets up 2 potential trading opportunities for the week ahead. If you're a trend trader you can look for buying opportunities up until the higher level of structure above. If you're a countertrend trader then the key will be to wait until price reaches that higher resistance level before looking for shorts. Akil
by Akil_Stokes
2
EURJPY - Type2 Bearish Bat A counter-trend opportunity on EURJPY as the market presents a Type2 Bearish Bat Pattern setup. Trade has already been engaged and it takes on an aggressive approach, well, sort of. The market did have a confirmation before(circled in yellow) right now is the retest or known as double top to some. The only concern is that candle confirmation(circled in yellow) is kind of weak and the current candlewick is kind of long as it is a sign of weakness towards the downside. We will be observing closely on the market movement and will take necessary steps.
Short
by RaynLim
NZDUSD - 5-0 Pattern Grand PlanLast week the 5-0 Pattern was spotted and the trading opportunity was share in our group(link at the bottom). The candlestick formation and RSI Overbought was not the only reason that triggers me to short the market, but also on the higher timeframe, the daily chart(right) has a bearish bat setup. Although, the bearish bat pattern has triggered alert of this trade is a No, No, I see there isn't any harm doing that as I'm getting a healthy RRR(Reward:Risk). I had engaged the 5-0 pattern and plan for a 2 target approach, the second target that I am planning is no other than the Target1 of the bearish bat pattern. But hey Rayn, I thought you were saying there's a warning sign on the bat pattern and you circle it in yellow? Yes, having a warning sign means it's not ideal to engage the trade. However, I had an opportunity on a lower timeframe to engage it and I'm prepared to intervene in my second trade if the market shows the trend is going to reverse. Let's see how this trade pans out, I have more plans to engage this trade. Follow us in our community and don't miss out another trading opportunity ever again.
Short
by RaynLim