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Psychologicalroundnumber

Think like the others! GBPCHF analysisHi guys, today i want to share on my favorite kind of analysis: it is called CTS and it stands for Combined Technical Score. It basically consists on putting different clues together in order to rise the likelihood of each trade. You can think of it like being in the side of different entry techniques so that you're with the majority of traders. On the chart above you can see my clues list: first, we have daily structure at this point (that's the start of the process), second, there is an AB=CD pattern already completed with a shooting star candle that's giving us some buying pressure. In addition to that, price is also testing a psychological number (1,2400) and it shows some divergence on the RSI. IF the current candle will close engulfing THEN i'm going to enter long the market, with stops and targets as above. Let me know what do you think about it. If you have questions, feel free to ask beneath. Otherwise, see you in the next chart!
Long
by Roker1
6
Pay attention to this zone! EURCAD analysisHi guys, earlier today i've posted another idea about this pair, but the scenario is now changed. As you can see price broke through the previous support and it's now sitting right into previous resistance (that should also provide some selling pressure). In this resistance zone we also have some confluence: a bat pattern (just completed), a psychological round number (1,4100) and a 618 fibonacci retracement. Furthermore, the RSI is deeply overbought right now. All those reasons together make me think this could be a nice reversal zone for this pair. I'll let you know if i'm getting involved. If you have any questions, feel free to ask below. Otherwise, see you in the next chart!
Short
by Roker1
Pay attention to this zone! EURCAD analysisHi guys, earlier today i've posted another idea about this pair, but the scenario is now changed. As you can see price broke through the previous support and it's now sitting right into previous resistance (that should also provide some selling pressure). In this resistance zone we also have some confluence: a bat pattern (just completed), a psychological round number (1,4100) and a 618 fibonacci retracement. Furthermore, the RSI is deeply overbought right now. All those reasons together make me think this could be a nice reversal zone for this pair. I'll let you know if i'm getting involved. If you have any questions, feel free to ask below. Otherwise, see you in the next chart!
Short
by Roker1
2
Gartley's about to complete on EURNZDHi guys, today i want to share one of my usual setup when trading. It's an harmonic pattern and it is called Gartley. It will complete at the round number (1,4601) within the structure daily zone (blue box). Therefore i'm going to buy this market if and when price will hit my entry point, with stops below X and targets as usual for patterns. If you want to ask questions, feel free to type them in below. Otherwise, see you in the next chart!
Long
by Roker1
10
Ready to sell on AUDNZDHey guys, this morning i want to share with you this setup i've noticed on this pair. Price has approached a resistance structure zone on Wednesday, and since then it's failed to create new highs and so it gave me reason to believe this is a good zone to short the market. In the daily chart we've recently exited an overbought condition and here on the 4hr chart you can see a nice divergence on the RSI. These are two clues that make me more confident on any particular trade. In addition price has created a double top with an engulfing kicker at the end of it. And pay attention also at the psychological round number that's sitting right there. I was waiting to see the marke open and for my rules it gapped too much, therefore i'm waiting for an additional confirmation of the sell. And there it is, another candle has closed engulfing right now. I'm selling this; stops above highs, target1 at 1:1 RR, target2 for extended target. If you have any question, feel free to ask below. Otherwise, see you in the next chart! Have a good week!
Short
by Roker1
7
Good confluence on CADCHFHey guys, i want to share another type of analysis today that i really enjoy doing: it is called CTS and it stands for Combined Tecnhical Score. It basically consists on finding more reasons all together in order to increase the likelihood of the trade itself. First, i want to select my trading zones by using higher timeframe structure: the blue box i've drawn actually represents the daily structure zone, where i can look for trading opportunities. In addition to that, i've found an AB=CD 1.27 pattern completing at the same exact level of the Gartley's completion. Both end up right at the psychological number (0,7700). All these reasons make me feel more confident on this trade. But as a conservative trader, i think i'm going to watch for price action to send me weakening signals and then sell at market. I'll keep you updated. Feel free to write below if you want to ask quesions. Otherwise, see you in the next chart!
Short
by Roker1
Nice confluence on CADJPYHey guys, i want to share one of my today's favorite setups, which is on CADJPY. The chart explains everything but basically i've found several clues that all point in the same direction, namely long. It's important you know i don't even start building a case for entry without structure; here we have higher timeframe structure and trading timeframe structure at the same level, that happens to be also a psychological number. Besides, there's a Bat pattern completing right at that level and a AB=CD pattern already completed. With all those reasons together i know i want to be on the long side of the market. But i'm waiting an additional and definitive clue in price action that can trigger my order, being a candlestick formation or a double bottom. If you are a pattern trader you can take this as a simple Bat formation, i think this is a very good place to buy. Good luck! If you want to share your standpoint or even ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
8
Very nice confluence on GBPUSDHey guys, this morning during my analysis i've spotted this nice opportunity to sell the pound against the dollar. Not often it occurs to see such a good confluence. So i thought i could share with you this outlook. As you can see above on the pound price is testing a daily structure level (blue rectangle ) that happens to be also a psychological number and the termination point of two different AB=CD patterns, along with some fibonacci confluence . Furthermore, you can see RSI went OVERBOUGHT and also that there's a Cypher that's been completed and it's still valid. For all those reasons together i think it could be a nice spot in order to find shorting opportunities in form of candlestick formations like engulfings or double tops. I'll let you know how it develops. Feel free to comment below if you want to ask questions or share your standpoint. See you in the next chart!
Short
by Roker1
4
Cypher at market with some confluence on AUDJPYHey guys, i like building a case for entry every time i need to enter a trade. It helps me feeling comfortable taking the risk. Now i'll explain why i'm selling audjpy 0.13% right now. First, we have daily structure (blue box). Second, the Cypher pattern has just been triggered. In addition to that you can look at RSI which is deeply overbought. Price is also testing a strong psychological number (87,00) that we know sometimes acts as a structure level. Final clue: an engulfing candle right now. Price is also pulling back a bit so we can sell now and have a better risk to reward ratio. If you want to share your standpoint, feel free to do it below. Otherwise, see you in the next chart!
Short
by Roker1
2
GBPJPY very nice confluence!Hey traders, i've kept an eye on this pair for a few days now. The AB=CD pattern is now complete and we are sitting right at the structure level i waited for (black line). We also have a Cypher already completed, a psychological number and RSI divergence. This level happens to be 38.2 of the daily's impulse leg. I only need a candlestick formation in order to enter long. Risk to reward ratio seems very nice. If you have any question or remark, please comment below. Otherwise, see you in the next chart!
Long
by Roker1
2
Good shorting opportunity on AUDUSDHey traders, i've been watching this pair for a shorting opportunity for a long time. After banking some pips in a double top opportunuity we saw the market continuing to rally. While price's heading up, power is becoming lesser and lesser, as we can see on the RSI. That tells us that maybe a reverse is ahead. As soon as price touched the .618 level it's put an long wick to the top candle (selling pressure). Furthermore, if we scroll the chart we can see previous structure right at this level that also happens to be a psychological number (0,74). Those reasons all together make me predict a downward move in the imminent future. The last signal i want to see is a bearish engulfing candle. At that point, i'm goint to sell the market. Risk to reward ratio could be very nice. Let's see. If you have any question, don't hesitate to ask. Otherwise, see you in the next chart!
Short
by Roker1
USDJPY long : The downside trend just reversed !The USDJPY pair just made a trend change ; it has been confirmed at the beginning of the week. For the past 12 months, USDJPY was in a fast downside trend, losing approximately 20%. But once it has reached the very strong psychological level of 100Y for 1$, we have noticed a change in the bearish dynamic. After three bounces at this price (now Major support area), the downside trend made a reversal, confirmed by two facts : - first (PINK 1 on the chart), both the 80 days Moving average and the upper descending trendline have been passed when they were previously containing buyers during the whole bearish wave. This was one indication that the trend was about to reverse. - secondly (PINK 2 on the chart), the previous top at 104.155Y has been passed too. This is definitely showing that the downside trend is over, by definition. Now, the USDJPY pair should continue its ascension toward the first and second resistances that correspond to the two next tops. The short term level to look at closely is 102.80Y because this is the first invalidation level of the reversal. If it is broken, this will show some signs of weakness of the reversal. Obviously, if 100Y had to be broken too, this would definitely mean that the downside trend is back. For the ones who want to initiate a long position based on that idea, the short term stop should be placed just below 102.80Y (invalidation of the reversal scenario). Feel free to comment your idea and suggestions !
Long
by AlexandreNygal
4
Potential Bat Swing TradeGBP and JPY have presented this week a lot of harmonic patterns, after the very painless Cypher that i completely missed yesterday we got another potential opportunity. This time go long at an even handle number 1.3100 that has minor structure looking left. Notice that this pair has been trading in a very harmonic way (AB=CD) move completed few days ago, and as noted above a Cypher yesterday, let's see if we can make of this one the third harmonic move completed to our favor. I'll adjust targets as price move beyond my entry point but the original ones are the .382 and .618 retracement. Keep it simple, and focus on the process Twitter: @JeanC680 Jean
Long
by JeanConsole
Getting involved in the potential C-D moveLooking for an opportunity to get involved in this downtrend move got a very nice potential Gartley formation coming right at structure. But this time the market gave me another signal that stick to my trading rules in order to enter in this position, we got a double bottom at a very psychological number of 101.000 with RSI divergence, so in this trade I'm entering with a very tight stop not looking for a trend reversal trade but a C-D completition move where I'm planning to reverse the position and go short. Keep it simple, and focus on the process Twitter: @JeanC680 Jean
by JeanConsole
2
AUDNZD: COMPLETION OF BEARISH GARTLEY WITH ABCD HARMONIC MOVE !!Hello Traders, Here we got a really deep completion on bearish gartley pattern with ABCD harmonic move (in cyan colour) on FX:AUDNZD , providing us with great risk to reward. The average true range for this pair on 4 hour time frame is about 50 pips but that puts us at 1.0990 level from our entry point, 10 pips under the round number. Thus better to place the stop loss above the strong psychological round number of 1.1000 . Stops and targets are labelled on the chart above. That’s all I would like to cover for this trade setup. If you guys have any questions or comments about this trade, feel free to write in the comment section located under this description section. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. All The Best :) Follow me on Twitter3.87% as well: moneymaking2016
Short
by moneymaking
NZDCAD: BULLISH CYPHER PATTERN COMPLETED ON 4 HR !!!Hello Traders, We have gotten a completion of a bullish cypher pattern on this pair. Stops go under the key round number of 0.9000. I was able to get a little bit (about 12 pips lower) better entry point, which is why the labelling of the entry point is bit below the 78.6% level. See the chart above for more details. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :) Follow me on Twitter10.97% as well: moneymaking2016
Long
by moneymaking
2
AUDNZD: BEARISH CYPHER PATTERN COMPLETED ON 4 HR CHART !!!Hello Traders, Just like in NZDCAD pair, we have a bearish cypher pattern completed on AUDNZD pair. Since these 2 pairs are negatively correlated, we got two opposite trading opportunities in them. I published both setups, so that you guys can choose either or both of the setups if you have these pairs in your portfolios watch list. Market is currently sitting at my entry point, which is bit higher than the 78.6% level. Stops go above the key psychological round number of 1.0900. See the chart above for more details. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :) Follow me on Twitter10.97% as well: moneymaking2016
Short
by moneymaking