EURUSD Rising Wedge in ActionHello Traders,
Seems like EURUSD is performing a Rising Wedge which will then cause it to drop after from previous patterns!
Trade Safe
Plan
EURUSD - sell before the buy Bit late to the party with this one although still a good few pips to grab before we get into a holding position.
30 pip SL takes us to a nice resistance area so if price pushes back up there then so be it. You can see overall we expect price to reach this bullish trendline which crosses nicely with a daily resistance level so from there we will look to take a buy position.
RR 30 pip SL with a 90 pip gain on this sell. Then buy positions we will update when the time is right.
PLAN Triple Bottoms (bullish)I found this pattern at tickeron website with the following data:
STATUS = Confirmed
CURRENT CONFIDENCE = 79%
TARGET (EXIT) PRICE = 60.34 USD
BREAKOUT (ENTRY) PRICE = 58.55 USD
DISTANCE TO TARGET PRICE = 3.19%
EMERGED ON = Sep 17, 08:00 AM (EDT)
CONFIRMED ON = Sep 21, 12:27 PM (EDT)
WITH CONFIDENCE LEVEL = 90%
The Triple Bottom pattern appears when there are three distinct low points (1, 3, 5) that represent a consistent support level. The security tests the support level over time but eventually breaks resistance and makes a strong move to the upside.
This type of formation happens when sellers can not break the support price, and market participants eventually pour in.
Trade idea
Once the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a security or a call option at the breakout price level. To identify an exit, compute the target price by adding the pattern’s height (highest price minus the bottom price support level) to the breakout level the highest high. When trading, wait for the confirmation move, which is when the price rises above the breakout level.
To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.
USDCAD [Short trade plan]The setup:
- USDCAD has been rejected in the previous support zone for 2 H4 candles
- Price now showing some downward momentum
- Waiting for price to push a bit higher than place Sell Stop order to ride the downward momentum
Invalidation:
- If price spike up above the zone and retest find support above the structure, market has shifted from range to breakout.
Trade management:
- If trigger into the trade when price touch the breakeven line, need to move stop to break even
- Risk over reward!
NZDUSD [Short Plan]Possible short plan:
1. H4 clearly show is a downtrend with a perfect trendline (marked)
2. Awaiting to break downside to current uptrend
3. Awaiting to retest after broken the buy momentum
4. Look for rejections from the zone when price started to head downward will follow it down.
US30 [Plan breakout or range rejection]US30 could break out the resistance (need to see strong candle to break out) and retest.
Likewise, if it rejecting around the top of range will be good opportunities to trade the range top.
USDCHF Bullish ScenarioHello Traders,
USDCHF is starting to look bullish as it has touched a key level as well as it broke a trend line with bullish confirmation.
Trade Safe
TESLA - Technical levels looking neat!!!I don't trade stocks as much but the technical levels are clean on Tesla. It does seem like a bubble looking chart but let's keep in mind the key resistance areas and support areas. If we go pass that trend line - Perhaps of your choice - take the bear trade down. However, at this moment BULLS are still in control. We must be patience with our analyse - put alerts on or orders!
REMINDER: Just a trade idea - not a recommendation.
EURUSD long - Supply Demand - h4 - Trading Plan (Bonus)Hello Traders!
On EU we pushed lower. We did not hit my target for EU, but in my opinion we will hit it. Price now mades a correctional move. We could still go down to the Demand before pushing higher to the Supply Zone. Also it is possible that price will reverse soon to go up. Simply hold your positions if you entered this week at the Demand Zone. And respect your SL that you have put. Follow your trading plan.
It is very important to have your own Trading Plan and to strictly follow it. Otherwise you do not have rules to follow and you can not track if your strategy is profitable. You can use the same Analysis like the best Traders but if you are not following it by a strict trading plan with proper R:R, not changing SL, ... then you will not be profitable.
That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions.
Thank you and we will see next time
- Darius.
GBPJPY master plan for Tuesday►Monday's volume profile didn't extend beyond Friday's. Not with its main part at least. Meeting strong rejection on both sides and closing near the middle.
►I drew profile and range based lines that make sense to me. In the coming day, I will be looking to open shorts preferably which is also higher timeframe prefered direction. And the best setup market can give me is either of azure lines with an arrow coming from them.
Have a great trade!
AUDJPY [Short Plan]I can't be in front of screen.
After a few pick AUDJPY on daily and h4 does show getting lower.
Two short attempts draw on chart.
Attempt#1 only one TP
Attempt#2 two TPs
GBPAUD [Fishing Long Plan]Long Setup
- Need to see if price come down to entry area.
- Marked Stop, TPs
- Wait and see M15 reaction in the entry zone.
NZDUSD [Short Plan]Short Plan
- I will look what price will do if back to two drawn resistances
- I see the previous uptrend is fading out, there is more zigzag and range happening
- That indicate to me there are sellers come in to play now.
PLAN Potential BatPLAN setting up very nicely for a bat pattern. Breaking over (B) now where I added more Nov calls from (C) entry. I entered long on the C due to a nice retrace level + a reversal pattern (doji) there on the C. Looking to take 1/2 off into (D) where I expect a possible .382 retrace to trendline, or a retrace to previous market structure at the .50 where I will add the 1/2 size back, and a trend continuation to 2.618 extension. I want to see nice reversal patterns on these levels due to having plenty of time on the calls.
AUDUSD [Swing Short Plan]AUDUSD has just been rejected on daily. I am looking for retrace and retest drawn resistance to take it down. This short will be target as swing targets
