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Countertrend

Long Scalp on ETHAfter the daily made a bearish push to the downside I wanted to see how price reacted to the 38.2 prz level. on the 4H, a hammer on top of the 38.2 fib as well as support. Breaking things down to a lower timeframe I had a correction trendline drawn from the latest swing highs. Price had broken the correction trendline and began up trending on the 15min and 30min chart so i bought with my stop loss being below the 30min low. take profit at -27.% from that 38%.
BITSTAMP:ETHUSDLong
by DesharedPierreJr.
1
GBPAUD I Approaching supply zone where it may fallWelcome back! Let me know your thoughts in the comments! ** GBPAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
4
I might buy this minor uptrend but GOLD IS BEARISHGold is coming off of lower low after lower low on all major timeframes so its not surprise that my first bias is bearish. However, when it comes to intraday trading, momentum is important for swings in the market and the difference between volatility or consolidation while profits float. I'm going to take this opportunity to buy gold if a structural higher high is formed since my immediate correction trendline has already been broken. Any buys are short term countertrend moves as the winning team is currently the bears. The neckline of the daily double top and retest of weekly resistance will not go unnoticed.
OANDA:XAUUSDShort
by DesharedPierreJr.
1
AU providing a hint for a reversalAUDUSD is currently at its lowest point since breaking out of consolidation on last week. This week it may look to re-test the bottom of the range or the neckline of a confirmed double top bearish reversal pattern. However, the case, this pair is overall bearish. The big move will come from a short. I've noticed that its currently trading around the weekly support and has performed a higher high, would be a trendline break if price wasn't moving so fast but the moving average has already crossed to the upside. If that low holds as support, I'll look to buy to the 38.2 Price reversal zone (PRZ).
LShort
by DesharedPierreJr.
I'm correcting errors mid-weekI decided to publish a video about the recent trades taken and the aftermath. I believe that I see structure clearly, however my bias changes depending on the timeframe. I'll be ultimately bearish on Sunday and Monday, then decide I want to be bullish Monday night to trade up to the sell. I understand that counter trend trading is dangerous to the risk: reward portfolio. This video will be watched back 2-3 times by myself as I learn more about the market from "teaching" it. I'll also be posting more videos regarding pre analysis, leading up the decision to take the trade.
OANDA:XAUUSD
by DesharedPierreJr.
Unveiling the GemsSideway patterns, often labeled as losers or deemed non-tradable periods by some, invite differing opinions and perceptions. It ultimately rests upon the individual trader to discern their potential. As for me, I perceive them as a treasure trove of trading opportunities waiting to be explored. Why, you may ask? It's quite simple - all I need to do is sell at the high, known as resistance, or buy at the low, known as support. However, before plunging into these trades, I exercise caution and adhere to a meticulous approach. My aim is to ensure that my final target yields a profit factor of at least 2, and that a minimum profit potential of 50 pips awaits me before I engage in any trade. On the right, a fascinating Bearish Bat Pattern is currently unfolding, tantalizingly close to completion at 0.6361. Meanwhile, on the left, the support and resistance trade strategy beckons with its own allure. Now, the question arises: Which of these enticing trading setups resonates with you? Join me as we explore the path less traveled and unlock the potential hidden within these captivating patterns.
Short
by RaynLim
The Oldest Pair I've TradedDo you still remember those unforgettable moments when I first embarked on my trading journey with GBPJPY? It holds a special place in my heart as the very first pair I traded, and I stuck with it through the ups and downs until the spread for GBPJPY skyrocketed to 14 pips for an extended period. Oh, the memories! Presently, GBPJPY finds itself in a captivating sideways movement, offering ample opportunities for those employing the support and resistance trading strategy. It's a perfect scenario for executing the age-old principle of buying low and selling high, or even exploring the realm of harmonic patterns. Personally, I'm eagerly awaiting the completion of a bearish shark pattern at 173.23, signaling a potential shorting opportunity that aligns with my analysis. Alternatively, you can choose to navigate the daily chart's defined zone, indicated by the red resistance line at 172.05 and the blue support line at 167.48. Within this trading range lies an enticing profit potential of 457 pips just waiting to be tapped into. Join me as we delve into the timeless allure of GBPJPY and unleash the vast possibilities it holds for traders like us.
Short
by RaynLim
It's NO SECRET, I'm shorting AdidasIt's no secret that I've been looking to short Adidas for weeks before the Bearish Bat Pattern show up. As a trader, I love to wait for the precise price with candlesticks confirmation before engaging my trade; hence I miss the first opportunity. And that's ok! In trading, I have this philosophy that is better to miss a trade than to engage in a trade at a price of disadvantage. So here I am, trading for the past 18 years. At this moment, I'm waiting for the Bearish Shark Pattern to form up on the 8 range bar chart to give me a second chance entry to get on this ride.
XETR:ADSShort
by RaynLim
$BTCUSD counter trend structure completion in next few daysNOT FINANCIAL ADVICE Structure is forming a very nice counter trending zigzag (5-3-5) formation; wave (4) aka waves ABC. Currently wave C underway, and we're expecting further impulsive waves to the downside, coupled with some strong divergence signal. If signal is found AND price touches the region between $25.8k to $26.2k, then we can safely say waves ABC, aka wave (4) achieved. Until then, we play the waiting game and continue to be patient. This publish is an update to this previous publish that promoted the rally as a bear-market-rally:
BITSTAMP:BTCUSD
by googooboyy
How to Trade the Dollar Both WaysUS Dollar has been in focus recently due to several factors such as debt limit concerns and bank failures. However, my analysis indicates that the Dollar is still bullish and I'm looking for a buying opportunity at 133.75, provided that the support level holds. For those who are seeking shorting opportunities, the red trendline could be a potential entry point. As long as the structure remains unbroken, a shorting trade could be considered, with the first target at 133.75. Whether you're bullish or bearish on the Dollar, there are opportunities to trade it both ways. Stay tuned for further updates
Long
by RaynLim
GBPJPY - Potential Reversal TradeHey Traders! Today we're taking a look at a bearish trading opportunity on the GBPJPY. At heart this trade is a structure-based reversal trade but as you'll see in the video, to find our entries we're actually taking a continuation trade type of approach. - More reasons to throw out the names "continuation" & "counter-trend" Anyway, I hope you guys enjoy & if you have any questions or comments please leave them below. Your Trading Coach - Akil
Short
by Akil_Stokes
2
Why News Headlines Can Be MisleadingIn recent times, we have been bombarded with headlines such as "Dollar Slide", "US Debt Ceiling Closing", "US Bank Failure", "19 Countries show interest in joining the BRICS". While these news items may give the impression of a weakening US Dollar, it is important to take a closer look at the chart. Contrary to these headlines, the US Dollar is actually appreciating! Smart traders know it is important to analyse chart patterns and not rely solely on news headlines. For trend traders, a buying opportunity could arise when the market retraces and sits on the blue trendline. Meanwhile, counter-trend traders may need to adopt an aggressive approach by waiting for the 3-bar reversal to appear within the red box for a potential counter-trend trading move. Remember, don't be misled by news headlines, always analyse the chart and make informed trading decisions.
Long
by RaynLim
Profit in Both Bull and Bear MarketsThe EURUSD demonstrates a clear bullish trend based on the current market conditions. As a result, trend traders may seek to capitalize on potential buying opportunities at the support level of 1.0967. Conversely, counter-trend traders may be interested in shorting the currency pair at the resistance level of 1.1035-1.1044 while placing initial stop-loss orders above 1.1067 to minimise risk. With a well-defined plan, traders can confidently approach the market from either direction and potentially reap substantial profits.
Long
by RaynLim
$BTC and its bear market rally.It's a bear market rally. But first, where are we in CRYPTOCAP:BTC 's wave cycles? Cycle wave V underway, cycle wave IV completed. With these wave counts, we can validate that we have already seen the bottom. Rejoice! Looking deeper into its primary wave counts and its fractals.. Ongoing: Primary wave ① > Intermediate wave (4) > Minor wave ⓑ I slant towards these wave counts as I see strong and clear counter-trending wave movements. Counter-trending waves tend to fluctuate (violent moves) and can play out in deep triangles. But we are also yet to see clear structure forming. In the coming days and weeks zig-zags, double-threes or even triple-threes formations can play out. In the meantime, I see testing $30k as a good probability. For now though, a clear signal that the bottom for counter-trend wave (4) structure would be a break of FWB:27K support. While I'm really looking forward to its completion, I dread the news that will bring us there. >.<
BITSTAMP:BTCUSD
by googooboyy
Seize the Day: Aggressive Traders Can Short GBPAUD with 5-0Despite the current bullish trend in GBPAUD, the market is showing signs of a potential shorting opportunity on the 5-0 pattern, with the 3-bar reversal pattern. This presents a unique trading opportunity for aggressive traders to engage in a short-term trade at 1.8577, with a stop loss set above 1.8605 and an appropriate buffer. What's even more enticing about this setup is when executed correctly, this trade could yield a profit factor of 2, making it a potentially lucrative opportunity for savvy traders looking to capitalize on market movements.
Short
by RaynLim