Weekly nice RR alert. 1.Daily MACD hidden divergence and zoomed to H4 MACD hidden divergence.
2. HH, HL formation.
3. RSI is Overbought.
4. 50% Fibonacci Retracement.
5. Strong daily resistance zone.
Rsi_overbought
GBPJPY short, close to EMA 200, 4h chartGBPJPY is trading close to 61.8% fibonacci on a 4h chart, which has previously been respected multiple times. EMA 200, which also has been respected as a resistance, is close to the fibonacci 61.8, and RSI is close to being overbought. All this, accompanied by the fact that the candle is a shooting star makes me go short on this pair. It could however be wise to wait for the next candle to confirm the shooting star, if you wish to be safe.
Entry: 161.35
SL 162
TP 158.8
Risk/reward: 3.92
EURUSD bat pattern forming from a symmetrical triangleThis bat pattern is getting very close to completion for a midterm bearish trade from a symmetrical triangle that I successfully traded as well.
The RSI is approaching an overbought condition, which will hopefully be reached in the next few days, supporting the case for this bearish pattern.
I have placed a stop loss based on previous structure (I am exploring stop losses based on previous structure).
Short EURUSD: Bat + S/R + Divergence + Overbought + Weekly PivotEURUSD is nearing the PRZ of a bearish bat in a significant area of S/R. MACD is also printing divergence in addition to RSI being overbought. A missed weekly pivot sits below price and is confluent with a larger .5 retracement. Entry is placed at the bottom of the PRZ with a SL above 1.13XA and targets at .618CD and the missed weekly pivot.
Confluence in the PRZ:
Bearish bat pattern completion
2.5AB=CD
2.618BC projection
S/R Zone
RSI Overbought
Bearish MACD Divergence
Missed weekly pivot below price
$AUDJPY Short: Wolfe, 2 Crabs, Pivots, Divergence, OverboughtAUDJPY has completed a bearish Wolfe Wave setup in the PRZ of two confluent bearish harmonic crabs. RSI is overbought and has printed bearish divergence. To add to bearish bias, two unhit pivots sit below price. SL is placed above the PRZ with target at .618CD (yellow crab).
Confluence in the PRZ:
Two bearish crab patterns complete
Bearish Wolfe wave setup
Unhit daily pivot below price
Missed daily pivot below price
RSI overbought
Bearish RSI divergence
Thank you for your continued support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Short AUDCAD: Bat, Crab, Wolfe, Trendline, Pitchfork, PivotsAUDCAD is nearing a highly confluent zone of resistance. A bearish bat and a bearish crab are set to complete in a tight PRZ that may be contained by trendline and pitchfork resistance. A bearish Wolfe wave setup may also be completed in this area. To add to the bearish bias, two unhit daily pivots sit below price. RSI is overbought as well. Stop loss is placed above Bat X with targets at .382 and .618 CD retracement levels.
Confluence in the PRZ:
Bearish bat pattern completion
1.618AB=CD (bat)
1.618BC projection (bat)
Bearish crab pattern completion
3.5AB=CD (crab)
6.786BC projection (crab)
Bearish Wolfe wave set up
Trendline resistance
Pitchfork resistance
Unhit pivots below price
RSI overbought
Thanks for your support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Short opportunity on the AUDUSD ( IF-THEN )The same thing, i had identified that area as resistance but i didn't had that much of evidence, and of course the R/R was good but not THAT good, and was safer to wait for a confirmation.
Now, the price reached the resistance, went overbought and now is retracing, i would like to see a test the .7208 level again making a double top. But also an harmonic pattern is possible and that could be our excuse to enter and have extended targets, very extended targets.
So IF the price creates an Harmonic pattern THEN i'll have my first targets where the should be and my second targets in the 0.7075 level and i would not move my stop. IF i'm stopped out on that trade because of a spike THEN i would look for the double top to form. IF there is a Double top with divergence THEN i would enter next bar market, with a first target at the 0.7171 level and a second one at 0.7075
SB Sugar turning neutral in light of bearish engulfingTurning neutral and watching closely. I think good entry for e retracement IMHO
- RSI & Stochastik with bearish indications and market is very overbought.
- bearish engulfing and hanging man (confirmed with bearish engulfing)
- spreads have been weak the last three days already indicating a trend change
I am neutral with a bearish bias, but need more confirmation IMHO
EUR/USD BAT PATTERN "PLUS" SHORT OPPORTUNITYHi, guys.
In this great trading opportunity I would like to share you my CTS. Hopefully this can give you a valuable insight and help you to add some more considerations to your trade plan.
CTS :
1. Bat Pattern Completion (4 Pts)
2. ABCD Pattern Completion (2 Pts)
3. HT Resistance Zone (2 Pts)
4. 1.382 Fib Extension (1 Pts)
5. RSI Overbought (1 Pts)
Total : 10 Pts
That was enough for me to take the trade (above 6 Pts). I decided to Take Profit at 1.11731 right at struce, and put my SL above the HT Resitance Zone at 1.15126.
What do you think guys?
Feel free to show your interest and comment to share your thougts, really appreciate it.
EURUSD: 2 Structure Trades for Shorts Pt. 2To follow up on last week's EURUSD idea, the pair has finally reached higher level of structure that I liked during yesterday's Euro rally. We've now double topped at that level and have broken structure to the downside setting up for a potential 2618 opportunity for those traders looking for a conservative approach to get involved.
We do have A LOT of news on the table today including an ECB press conference and a USD ADP Non-Farm Employment Change number. There aren't many expectations from the ECB this morning as nothing is expected to be said in regards to the monetary policy but there may be some Greece based questions during the Q&A and anything regarding Greece has been moving the markets as of late. Before ADP number which is released before the ECB press conference should be of importance as traders will look to use it to predict Friday's massive news day. There are rumors floating around about "ditching" the rate hike due to global worries so the very bullish sentiment that we had on the USD may not be as strong as before.
"It may be impossible for the Federal Reserve to raise interest rates until the rest of the world economy improves... the dismal performance of first-quarter U.S. gross domestic product may signal a more permanent slowdown, and that the Fed needed to enter a phase of "watchful waiting" before raising rates."
Anyway enough of the fundamentals, the technicals gave me a sell yesterday so I'm still looking short on this pair but it may be an interesting day similar to the Aussie (for those of you in the Syndicate program). Below is a link to the video where I originally discussed the trade setup. The EURUSD talk starts about 11 minutes into it.
VIDEO ON EURUSD TRADE www.youtube.com
Akil Stokes
www.TradeEmpowered.com
Parabolic on Historical RSIThis short takes a lot of audacity after this bullish run but... weekly and daily RSI are at historical highs along with a wolfe wave finish and previous trend resistance makes an opportunity for a quick short swing. The analyst targets for this are still below pps with a reiterated sell rating from Deutsche Bank. Selling calls up here is also a nice setup. "Zig when others Zag"
Massive short opportunity waiting for USDCAD (F@TradeYodha
TradeYodha.com
(Just my ideas, do you own analysis)
Possible USDCAD Counter-Trend Short Opportunity
1. it is massively over bought in all time frames
2. Monthly chart is reaching a previous structure where we can see a good retrace/reversal
3. On Monthly chart it has just touched 200 SMA which can make it bounce to the down side. 10 SMA and 50 SMA are lagging behind which may attract the price to themselves.
4. 200 SMA is close to previous structure and 0.886 level
5. Need to wait for a confirmation such as RSI divergence & Double top before we can short this.
6. Massive R/R ratio
Trend Continuation NZDJPY Daily (fib, sma, abcd, re-test)@TradeYodha
TradeYodha.com
(Just my ideas, do you own analysis)
Possible NZDJPY Trend Following Short Opportunity
1. Underlying Trend is Short. It has reached a particular level where it may try to retest previous highs (there is a counter trend opportunity as well)
2. 78.6 fib at the previous high
3. 10 SMA and 50 SMA are lagging behind and around the same area as previous high. Price may try to reach back to them.
4. If the price gets overbought at this area, we may have a short opportunity. Look for double top, rsi divergence oir 2618 opportunity
EURJPY Double Top before the CypherAlthough we have a Bearish Cypher pattern resting right above this level, the double top on this pair still looks to be a very good shorting opportunity. A single ATR stop should get you above the structure level looking left so there's very little risk in this one when compared to the potential reward.
I wouldn't expect a full blown reversal, looking at the daily, but after double bottoming (on the daily) we have rallied (in a single day) all the way up to previous structure so I would expect some relief, a little give back, a little profit in our pockets hopefully. ;-)
Akil
EURJPY Looking LeftNothing too fancy here on the EURJPY just a simple structure based trade. Looking left you can see that the market has had trouble breaking this resistance level as of late. Combine that with the RSI being oversold and the existence of a double top featuring RSI featuring bearish divergence and it's more than enough for me to take a shot on.
This top was also a move that stopped many traders out of a bearish Cypher this morning coming off the release of the FOMC minutes.
Akil
Check out my blog at www.ratiotradingmentor.com
AB=CD completing at major structurePrice have already been rejected on Friday but there is still some momentum to the upside in place. RSI is going overbought.
Action: wait for a double top or some bearish candle formation to short
#GBPCHF short on daily1.Deep bearish cypher
2, AB-CD
3. RSI overbought with divergence
4. 1.50 even handle
5. Fib. cluster
