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EURUSD Analysis: Multi-Timeframe Shorting OpportunityHere’s a detailed look at the EURUSD across multiple timeframes: Weekly Chart: - The market is in a sideways consolidation phase. - The upper trendline has been respected, indicating a potential downside movement. Daily Chart: - Watch for a retest of the Fib-3 Bat Pattern, which could offer a prime shorting opportunity. 1-Hourly Chart: - I’m eyeing a retest of the resistance at 1.0863 for a shorting opportunity. What’s your trade plan for EURUSD? Comment down below and share your insights! Happy trading!
Short
by RaynLim
NZDJPY Trend Reversal OpportunityOn the 1-hourly chart, it looks like a regular shorting opportunity with Key Resistance Level retested at the almost perfect, but potential BOJ Intervention zone, so for traders of all kind to ''try their luck!!'' However, on the Grand Scale of things, and it is a Type2 Bearish Shark Pattern on the Daily Chart. After I'd include the buffer, I the market hit Price Action Level at 94.00, hence, I'd to push my SL 10pips away, but making it 94.10. Let see how the market moves before the New York Session ''opens''
Short
by RaynLim
USDJPY Analysis: Shorting Opportunity Ahead- Timeframe: Weekly chart shows RSI Divergence - Trade Bias: Shorting opportunities favored Analysis: - Weekly Chart: RSI Divergence signals potential reversal - 4-Hourly Chart: Waiting for retest of previous resistance at 151.74 for short entry - Combo Trade Strategy: Stretching targets for lower risk and higher returns Combo Trade Strategy Explained: - Definition: Trade management system to extend targets for enhanced risk-reward ratio - Benefits: Lower risk exposure, higher potential returns Trade Plan: - Shorting opportunities identified on USDJPY - Entry upon retest of 151.74 resistance level on 4-hourly chart - Utilize combo trade strategy for optimized risk management and profitability Additional Insights: - Trading strategy not limited to shorting USDJPY; open to opportunities aligning with trading strategy - Flexibility in trading approach across multiple currency pairs Final Thoughts: - Market dynamics are not constrained by directional movements of specific currency pairs - Focus on trading opportunities presented by price action and technical indicators - Adaptability and versatility are key to successful trading in dynamic market conditions 💡 Your Thoughts? What are your views on the potential shorting opportunity on USDJPY? Share your insights and trading strategies in the comments below! 👍 Like if you appreciate this analysis! Remember, always conduct your own analysis and manage risk responsibly. Trading involves risks.
Short
by RaynLim
EURUSD Update: Shorting Opportunity IdentifiedTrade Setup: - Entry: Sell at 1.0797 (Retest Level) - Target: Extended towards potential Bullish Harmonic Patterns setup - Risk Management: Implementing trade management system for upsized trades Analysis: While many analysts are focused on the potential Bullish Butterfly Pattern and ABCD Pattern on the 4-hourly chart, my attention is on a shorting opportunity using a trade management system. I'm looking to short EURUSD upon another retest at 1.0797, aiming to extend my targets towards potential Bullish Harmonic Patterns setup. Trade Management: - Upsized Trades: Stretching Final Target to next pattern completion. - Entry: Selling at the retest level of 1.0797. - Targets: Extending targets beyond traditional levels towards potential Harmonic Patterns setup. Risk Management: - Always prioritize risk management to protect capital. - Adjust position sizes to align with risk tolerance and trading strategy. Your Thoughts? Do you also see a shorting opportunity on EURUSD? Share your insights and trading strategies in the comments below! 👍 Like if you found this update helpful! Remember to conduct your own analysis before making any trading decisions. Trading involves risk.
Short
by RaynLim
Contrasting Trends, Caution AdvisedIt is crucial to have a good grasp of how to interpret the market before making any trades. Although the current pound dollar movement leans towards bearish, the weekly chart indicates a positive trend. To capitalize on this, trend traders should sell, while counter-trend traders can take advantage of a shorting opportunity at 1.2317. The buy zone lies between 1.2313 to 1.2689, with a weaker bullish movement on the weekly chart. Remember to always conduct your own analysis and avoid blindly following others. If you're interested in learning more, feel free to chat with me.
by RaynLim
Bearish Trend in Focus!Despite the current bearish trend of the EUR dollar, there are still ways to profit from the market. After analyzing the weekly, daily, 4-hour, and 1-hour charts, I recommend two potential strategies. For a shorting opportunity, the 4-hour chart's key resistance area at 1.0693 provides an excellent entry point. Setting an initial stop-loss at 1.0710 and a target profit of 1.0642, you could potentially earn 510 USD per lot. However, it's important to conduct your own analysis before making any decisions. Alternatively, the 1-hour chart's bullish crab pattern with a bullish trend line presents an excellent buying opportunity. Waiting for a retest of the immediate support at 1.0650, with an initial stop-loss at 1.0630 and a target profit of 1.0672, could result in additional income. By spending just 15 minutes a day, you could potentially earn more. It's important to remember that investing always carries some degree of risk, and it's crucial to conduct your own analysis. Do not blindly follow any advice.
by RaynLim
Shorting Opportunity Alert on EUR/USD!🐻 Weekly Chart: The overall setup on EUR/USD points to a Weaker Bear trend. 📉 This means there's potential for downward movement in the coming weeks. ⏳ Patience is Key: While we wait for the perfect entry point, keep a close eye on the lower timeframes for a shorting opportunity. 🧐 📈 Lower Timeframes: Look for price action signals and confirmation on the lower timeframes to pinpoint the ideal entry point for your short trade. 🎯 📉 Set Your Stop-Loss: Always remember to set a proper stop-loss to manage risk effectively. 🛡️ 🚨 Stay Alert: Monitor the market closely and be ready to act when the right setup presents itself. 📊 Remember, trading requires discipline and patience. Wait for the right opportunity, and when it arises, execute your trade with confidence. 💪 Happy trading and best of luck! 🍀 Follow me @raynlim for more trading insights and updates. Let's capitalize on the market together! 🚀
Short
by RaynLim
2 different perspectives🔍 Let's explore the current outlook on USDCAD from two different perspectives. 📉 The major break of a key support level suggests a bearish sentiment in the market. I'm inclined to take a shorter position, and I'm patiently waiting for a retest at 1.3305 for a potential shorting opportunity. 🕰️ However, if you have a different view, on the 4-hourly chart, there is a support level at 1.3268. You can wait for a confirmed candlestick pattern before entering the trade, ensuring a more conservative approach. Stay tuned for more updates and trading opportunities as we navigate the market together. 💼📊 #USDCADAnalysis #BearishSentiment #ShortingOpportunity #SupportLevel #TradingOpportunities #StayTuned
Short
by RaynLim
Counter-Trend on USDJPY📉 This week, I'm keeping a keen eye on a counter-trend trading opportunity for USDJPY. I'm patiently waiting for a potential shorting opportunity at the Key Resistance Level of 142.96. ⚠️ However, it's important to note that despite this shorting opportunity, my overall bias remains bullish on the US Dollar. This week appears to be a retracement week in the market. Stay tuned as we navigate through market movements and identify potential trading setups. Let's make the most of this retracement period! 💪💼 #USDJPY #CounterTrendTrading #ShortingOpportunity #RetracementWeek #StayTuned
Short
by RaynLim
Finally, Shorting Opportunity📉 After a week of waiting, the market has finally retested my preferred entry price for a short position on the Bearish Crab Pattern(daily chart), which complements the Bearish Shark Pattern(weekly chart) at the 88.50 level. Check out the link article in the TradingView post for a refresher on last week's discussion. 💼 Trading is all about minimizing initial stop-loss and maximizing profits sensibly. 🔄 A retest of the key resistance level at 88.60 on the 1-hourly chart would confirm this trading idea for me. 🔝 This trade holds the highest priority for me in the upcoming week. Share your highest priority trade for the week! 📊💭
Short
by RaynLim
This is why Most Traders Lose MoneyLook at the higher timeframe(right), on the Weekly chart, and have your focus on the retest of the previous high. Not only it fails to close above the previous high, but it also has an RSI Divergence. On the bigger picture, EURUSD is on a Bearish Move. I'm not saying you can't make money if you have bought EURUSD, but you shouldn't stretch your target when you are counter-trend trading and you won't know that if you didn't get the trend right. On the lower timeframe, the 4-hourly chart, Trend Traders could wait for a retest of the Key Resistance Level at 1.0912 and wait for a Magic Candle Confirmation to engage the trade. Counter-Trend Traders could wait for the completion of the Bullish Shark Pattern, followed by a Magic Candle Confirmation at 1.0707 before heading for a buying opportunity. What's your trade plan for the week? Comment down below.
Short
by RaynLim
Did you missed this trade? Last Week, I mentioned my plan to await a suitable shorting opportunity on the EURUSD, owing to the retest of resistance with RSI divergence. As anticipated, this move resulted in a total profit of 205 pips (equivalent to 2,050 USD/lot) based on the difference between the opening and closing prices. My strategy for this week remains unchanged, and I am still on the lookout for a new shorting opportunity. At present, I am waiting to initiate a short position at 1.0901 on the 1-hourly chart (left), which represents a key resistance level. Join me as I continue to monitor the market and strive for profitable trades.
Short
by RaynLim
I told you so...This is 1 crazy trade that we did on 22 Feb 23 (links within the TradingView Post). If you have been following us for years, you would agree that my interest in sharing LIVE analysis than to show how much I had earned in a trade. That is because I do not find how that could benefit you. With that said, the purpose of my sharing my analysis as it is; is to show you the thought process of how traders react at every turn. Currently, we are 40pips away from our target of 0.6688(+219pips), which gives us a profit factor of 8.11. That means for every $1 we risk, my potential profit is $8.11. That means even with a 20% accuracy rate by setting every loss at -50pips, my net profits in pips is 411pips. This significantly reduces the level of stress when we trade and give us more time to do the things we love to do. In an unlikely scenario that the market retests back to 0.6786 would allow traders to consider if they would hop on the latest trade with their first target points to the recent low on the 1-hourly chart. In this example, that would be 0.6721, giving the First Target a 65pips profit potential. I would recommend having good risk management and planning your own trade, and not following the trade blindly.
Short
by RaynLim
GBPUSD-Weekly Market Analysis-Nov22,Wk4It's amazing that for more than a week, the market trial along the tip of the ascending channel; shows that the market has hesitance to break and close above the channel. That is excellent news, as I plan to short the GBPUSD off the Weekly Resistance Level. You could check the related ideas within the tradingview post for my lower timeframe strategy. If a break and close above the parallel channel happens, I will wait for a candlestick pattern confirmation at 1.2572 for a Bearish Butterfly Pattern. The harmonic pattern has the potential to form within the next consolidation zone, which is great for extension patterns like the Butterfly Patterns.
Short
by RaynLim