Couple of scenarios for next weekI don´t like waiting until the market provides me with a 100% copy of the perfect backtested super precise entry set up. Trading is not like fast food chain restaurant food, yu cannot always expect the same thing. While there is nothing new under the sun, price action and techncial reading of this price movement is more or less accurate.
The more languages you understand the better your understanding of the overall human culture. If this makes sense?
Highprobability
HIGH probability signal on Lorbeer pattern => 26% potentialFirst target with a +60% chance of profit on a 382 retracement, of the total size of the pattern which provides a 9.5% profit
If price comes back to the signal level another 50% chance of profit on a secondary target provides 16%
!!! My tip: Statisitcs show that if price retraces right away to a 50% then it will most probably continue to higher highs (vice versa if D was a low)
Advanced Pattern & Elliot Wave confluence +300 Pips OpportunityNice high probability , multi argument short opportunity on the daily. In line with a short trade on EUR/GBP that I opened yesterday.
Euro showed some strength since the first round of the #frenchelections2017 and the US dollar surely suffered after the #Trumpleaks. These fundamental facts pushed the EUR/USD with some significant momentum into an interesting resistance area. A combination of a completed 5 wave Elliot move + BatPattern + RSI overbought. Target on the 38.2% retracement should provide more or less 300 pips. If price comes back and double tops at entry a second chance is provided to target another 300 pips.
Those brave traders who are willing to sell into strength may receive some significant return if this strategy pays off. BatPattern, especially on EUR/USD have a high rate of success but remember, no trade is a sure game!
USDJPY short trendline + key level rejectionIn history there is a strong move down, but this retracement is not strong enough at the moment. Looking for 2 possible setups:
1. Strong momentum up towards the trendline , good healthy rejection and break of the countertrend.
2. Strong momentum up towards the 110.05 level, which is a strong psychological level too. Want to see healthy rejection there and break the countertrend.
Option 2 would be the strongest setup
Will update this idea when one of those setups are formed
JAZZ Long-term Trend ContinuationStrong channel downtrend since Aug 2015, with RSI overbought at ideal short entry levels (small green squares). RSI at overbought level again; signal to short in this case with harmonic period of about 6 months.
Also current small double top at about $130 mark (short orange); stock expected to close gap to about $118 for initial target short-term target. That same level may be difficult to break; level is previous significant support level, so price may consolidate around $118 before breakdown to ideal target (large green rectangle).
Initial Target @ $118
Ideal Target @ 95-85
Stock has a lot of room to fall so it can break $85 when it gets there; needs time to work. High profit potential play.