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Reversalzone

TREND CONTINUATION TRADE AUDJPY (SHORT)This is a trend continuation trade that i have on my radar today. Short possibilities show up on this pair after the break of structure to the downside and so the continuation of the downtrend. I'm currently waiting for a retracement back into previous structure. When the retracement gets into my "potential reversal zone" i'll be looking for indications of weakness to get short. This setup is based on technical analyses and structure. I find these two the most important in currency trading. Once you get it, it's mainly dedication, focus and hard work to get your hard-earned profits out of the markets. I wish you guys best of luck trading, keep it up!
Short
by TradingFellow
1
Head and Shoulders and Three Drivers, EUR/USD, 1hrIf you zoom out on this chart you will notice that the market has rallied out of a bat pattern and returned to previous structure. You will also notice i have highlighted a potential reversal zone in blue, and from which we can assume that the market, as usual, will respect structure, and return to structure lows. Here i have two patterns suggesting a reversal in the market. The first is a head and shoulders, as marked in green. This pattern suggests a short term move to the low side. I believe that if the market breaks the structure low of the right shoulder, that the market will rally down into structure around the 1.2660's. I have placed stops at the top of the head, the entry below the right shoulder and the limit at previous structure around 1.2663 The second pattern is a three drives, this pattern also suggests that the market is becoming weak and is likely to return lower, the drives are most visible in a daily chart, or also if you zoom out. I don't believe there is a safe trade to be made off of this pattern, but I do believe that it reinforces our original speculation that the market will begin a downtrend. Thanks for viewing, don't be afraid to comment , or like if you agree. and also follow me if you like what you see. Thanks and Good Trading!
Short
by Kylan_Laymance