EURUSD Wait for retracement and SHORT CONFLUENCEGood confluence between a head and shoulders forming, a counter trendline test and a fib retracement.
Highprobability
BULLISH TREND CONTINUATION VIA GARTLEY PATTERNCurrently seeing a rejection from the bearish Bat Pattern. If we get to previous structure (without violating highs) I will get involved with the Bullish Gartley Pattern. Stops below X
Trade well
Daily Cypher Pattern on GOLDPotential Cypher Pattern for Daily Traders on GOLD.
Entry @ 78,6 % Retracement.
Stops below X
Targets according to your plan.
Trade your plan!
USD/JPY - BEARISH SHARK PATTERN Really nice Shark pattern that the market has made us , if your going to trade this then keep your risk suitable and trade safe guys , i wish you a good week ahead :)
Next short: Part II $EURUSDAfter yesterdays setup we broke structure to make new lows. It is therefore important to stay in the opportunity flow of the market and stick to your trade plan.
If we reach level D we get a valid cypher pattern formation for a short entry.
Stops above X.
Trade your plan
Next short: CYPHER ON $EURUSDHey traders,
Potential Bearish Cypher Pattern on the 60 min Chart. Trade your plan.
Stops above X. Targets according to your plan.
Greets.
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.
Resistance To Previous Structure80% Probability Return To Previous Structure
Entry 1.07427
S/L 1.07121
T/P 107950
NZDJPY (L) 2017.01.19Entry on pullback with expectations of bullish trend continuation past 82.8 to gap to retest 83.5 on 4hr chart.
SGMO Quick Short; Late But Still ValidSorry, didn't put this up earlier but it's still valid.
SGMO has bearish divergence between 11/14 last year and 01/13 this year (white arrows on chart and RSI ). Also as usual, RSI shows signal for selling (overbought).
The price also happens to be at the downtrend channel resistance. The volume profile shows increased more seller-to-buyer ratio since 01/17.
Initial target should be $3.10.
Ideal target for $2.70
CHK Ascending Triangle PatternCHK had strong downward channel trend that turned around in Feb 2016. Ascending triangle pattern formation, on monthly, weekly and daily timeframes, for long-term swing in price to break upper resistance @ ~$8.00 (this is daily chart).
Again, RSI has been so graceful in confirming possible short or long entries for the whole duration of the triangle's existence. RSI expected to drop with price (yellow ellipse on RSI chart); personally expect move to about $6.30 (yellow circle on chart proper), then turn around for upward swing to $8.00 resistance level.
If CHK can break $8.00, it can be a huge feast from there (possibly hit old $13 support level); it's a waiting game now. Wait for RSI confirmation and enter long around $6.50-$6.30.
However, outcome of earnings has potential to make or break chart pattern.
SOHU Long-term DowntrendHarmonic downtrend (green trendline) since double top in 2013 and 2014; has been trying to find a base in the 40's but is now in the 30's looking for a base. Currently at high for short-term and long-term and has high probability to fall.
RSI confirmation @ 65. Historically, RSI here has done well at signaling short entries.
SOHU is currently in short-term swing upward (orange channel) but it is not expected to break 2 year trend yet for strong bullish move, also has a lot of room to fall @ current $38.99 price to about $30 in the long term.
Aggressive short-term swing low target @ ~$36 (this level will be a tough support level to break; may serve as support for new trend upwards after price drop to $36 level)
Long-term short swing initial target of $35 after earnings, then $30 for next target.
If $30 breaks, serious profit potential can follow.
Also, option players can long Jun 35 put; use far out expiration (red line) to give trade time to work and to reduce volatility crush effect on long option after entry.
~$300 profit per contract @ $30 expiration.
VNDA Descending Triangle Pattern. Short (and Long) Opportunity.Simple probability set up. Triangle downtrend started in 11/2016 and VNDA has only been through one full harmonic trend (wave) ever since. Second wave downward move imminent with RSI confirmation @ 35 and bearish $13 target.
However, aggressive long entry for quick profit ($15 bullish target) especially with upcoming earnings. Upon $15 target, (expected RSI >50) short for mid-term trend follow.
Quick Long Target: $15
First Short Target: $13
Second Short Target: $11.50
Total trade should complete by/in April.
EURGBP (L) 2017.01.09This is 2nd position entry. Bullish high base setup, trading over 20&50SMA on daily and weekly. 70 pip SL, 140 pip TGT for .88405. Currently have SL set for 125 pips on 1st position.
EURCAD (L) 2016.12.22High probability short term entry to capture the retest of resistance. Entry is just above 20SMA to confirm bullish trend which is showing on 15min & hourly chart. 1:2 r/r on half position w/ 30 pip stop. If target is reached will look to add 2nd position.
GBP/AUD swing trade setup.If and only if gbp/aud moves above 1.7830. then I will enter a
buy position at 1.7840
Stoploss at 1.7491
target 1 = 1.82050
target 2 = 1.8691
If and when target 1 is reached i will move the stoploss to break even and then some, and exit half the position, i will exit the other half at target 2 or before than depending on conditions.
GBPUSD high probability entry setup in the next few hours.There is possibility of a head and shoulders pattern forming, along with macd divergence, and a break in the uptrend, IF and only IF those three come true, we have a chance of entering the trade when price retests the neckline and starts moving down.
Only once that retest is complete and price starts it's journey to the downside will we even think about entering this trade.
Set a "crossing up" and a "crossing down" alert below the neckline to make monitoring this possible set up easier for you.
Remember not to over leverage any position no matter how "sure" you are.
Nasdaq Biotechnology Index 1-2 Week ForecastBounce from 2510 to between 2835-2987 over the next week to 2 weeks. Index currently in channel.
Cypher on SPX500There is a cypher pattern forming on SPX500, it will terminate at the previous structure from three days ago
The cypher itself gives 80% probability of success and the structure at the level further increases that probability
I will be looking to go long at around 2106 area and then take half profits at its 382 retracement and the rest at 618 retracement
BEARISH BAT PATTERN ON NZDUSD / GOOD RISK REWARD / WITHIN TRENDUpdate on NZDUSD: Coming right into previous resistance which is typically a good way to look for a shorting opportunity. In this case the market gives us a bearish bat pattern at the 88,6 %Retracement from X-A. Moreover the Completion point D lines up perfectly with the 61,8 % Retracment from Swing High to Swing Low.
Targets and Stops as shown on the chart. Make sure it fits your personal trading plan!
Have a great weekend!
Website: www.ogtpartners.com
Twitter: goo.gl
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BEARISH BAT PATTERN ON GBPUSD AT RESISTANCE ZONE A short trade idea on GBPUSD. Coming into previous resistance zone while forming a potential bearish bat pattern completing at the 0.886 retracement. This offers a nice short opportunity for those pattern traders out there.
Targets at 38,2 and 61,8 % retracement.
Stops above X.
Website: www.ogtpartners.com
Twitter: goo.gl
Facebook: goo.gl
