EURUSD: BEARISH CYPHER PATTERN WITHIN STRUCTURE ZONE!Possible Cypher pattern for short entries on EURUSD. Mangage Stops and Targets according to YOUR trading plan.
Have a great week of trading!
Rsi_oversold
GBPCAD LONG based on several indicators1. EW wave 2 correction ending on major support level.
2. Price hovering on major support level.
3. RSI (14) indicates price is oversold on Daily, 4H, 1H.
Some confluence on USDCADHey traders,
today i want to bring an unusual analysis for me.
This analysis is made of different clues, all pointing in the same direction. When trading you have to be on the majority side and collecting different evidences puts ourselves on the side of more and more traders. This way we can boost our confidence and the likelihood of this opportunity.
The clues are written above, and another thing that make me confident on this trade is the over extension of this market.
Usually when we have such a big move a period called "profit-taking" comes, thus creating a bigger retracement in a still bearish market.
The reason for entry would be the current engulfing candle. If it will close too big, i'm going to wait for a pullback and then buy the market.
Let's see.
If you have any question, please ask below.
Otherwise, see you in the next chart!
AUDUSD Located a PRZ- Potential ABCD Pattern located with completion @ 2.272.
- Fib Extension completion Lines up with ABCD completion.
- RSI Currently oversold.
There are some other patterns on lower time frames you can check to verify, this is my take.
Happy Holidays!
Bearish Bat on AAPLWhy a bearish pattern on AAPL ? ;p because I have stopped buying their products. (just kidding)
Spotted a Bearish Bat on Apple Inc. Would like to see a reaction at the 117.00 levels.
Also RSI moving up to the oversold levels, risk reward of 2.3x
NZDCHF - Break, Flag, SellNZD has been quite weak for some time now. It would be good to catch them.
Manage your risk & your account will take care of itself.
GBPUSD Bullish Cypher OpportunityHey Traders,
I hope you had a great weekend, for those in the US that celebrated thanksgiving, I hope you ate plenty :D
Today we have a bullish cypher on the radar, The opportunity is valid until we pass our X leg. So pass simply means, we can touch but cannot exceed X, so it doesn't have to close, just pass. RSI being oversold and our bias being bullish on the longer timeframe, this is a perfect opportunity to be getting in a long opportunity, something I would even shoot for extended targets. As you guys know, stops below X and targets at the 38.2 and the 61.8, however like mentioned I will be looking for extended targets on this trade so I will be trailing stops on the second half of my position.
Like always, If you have any questions feel free to comment below
Could there be a relief rally on the GOLD ?Gold has been taking a beating in the past week. The reasons I am looking to go long on this :
- Completed a bullish Bat pattern
- Bottom of the equidistance channel (counter trend trade)
- RSI (H4 & D1) at the oversold region
- Bullish divergence on the D1 RSI (see arrow on chart), also a bullish divergence on the H4
Stops should be below the 1200 levels, targets could e back up to 1300 levels
USDCHF, D; BREAKING DOWN BY MULTIPLE CONDITIONSPrice already rejected at 1.01224 support.
Support Level falling under 0.786 fibonacci as shown.
Bearish butterfly pattern already formed.
RSI at 70 has been breached and is going down, thus good sell entry.
Target levels are based from coinciding fibonaccis from as shown and the retracement CD.
Stop Loss: 1.01372
Target 1: 0.98853
Target 2: 0.96515
NZD USD POSSIBLE PATTERN FORMATION / ON 618 & RSI GOOD TIME TO GO SHORT ON NZD/USD
POSSIBLE PATTERN FORMATION
.618
RSI
GOOD LUCK
SPX : up for a couple a weeks, before the downtrend resumes.With the weekly Stoch RSI in oversold territory, this is my favored SPX wave count. It would be invalidated should the SPX register a new all time high.
In a nutshell, 2 to 4 up weeks (or green bars if you prefer), and after that a test of the 8 years trend line.
This does not preclude a down opening next week, but we should finish the week with a gain.
Betting for Short but Hoping for Breakout Another Good one Today,
NZDUSD
*Longterm Channel going UP
*Midterm Trend showing DOWN
*EMA200 Acting as Resistance (Needs to break for more up movement)
*RSI Oversold and turned(ing) DOWN
Follow the Price and Trade
NZDJPY Butterfly Pattern 4hr chrtPrice action is crucial to determine a bull move. RSI OVERSOLD
Watch carefully, stoploss should below previous support
DAX30 UPDATE Support zone (Daily Chart)Making this updated chart to warn you to be careful with what happens on Monday. Doesn't mean we're going up right on Monday. We may still drop down a bit. Looking at the Daily chart, the trendline hasn't been touched yet. So we may drop down to around 10.210 and that's where the line is touched.
Also, the RSI is currently sitting at 30, so tomorrow it might drop below 30 due to the price drop I mentioned above, giving us the oversold signal.
Adding to the trendline, we have the 200 EMA which gives us another support base.
Sample RSI setups on #USDCADThe RSI can be a great trading tool if used properly. Most Traders use it for an overbought/oversold indicator and that is the worst use of the RSI.
As you can see from the chart, there are multiple short term trade setup in this one hourly chart. Although I am only showing 3 examples there are many more setups on this chart but did not want to make a mess of the chart. I will continue to post RSI trade setups and RSI educational information in the future as time allows.
Usdjpy Buying Bounce / Trendline SupportUsdjpy holding at trendline support where price has bounced three times previously.
With the RSI oversold giving us a reading of 10 we could look to see a short term pop from this level
Counter trend trade on EURUSDNice counter trend trading opportunity here. Why?
1. We have fibonacci confluence from a previous high @ 618
2. RSI is overbought
3. ABCD completes close by
4. We are at a strong trend line support
5. We also have a diagonal trend line resistance (not currently drawn on) which would support the shorting bias.
Depending on your strategy you might require some further confirmation such as a candlestick pattern or double top. That's what I require to take this on, there might even be some on the lower 15m time frame. Trade your plan guys and if you don't have a plan, best not to trade, not even on a demo account, it's wasting your time.
Feel free to message me with any questions and I'll try my best to get back to you.
Thanks!
AIR FRANCE Nice Risk Reward - Selloff ExhaustedThis is looking interesting. Not much to say: RSI divergences developing, with the stock down 45% since March. The selloff seems fairly exhaused. Nice risk reward, if you put a stop at 4.79 and target at 5.27
Great Risk reward structure tradeJust noticed this trade guys. I'm not taking it because it's not yet part of my plan but it looks promising so deemed it worthy of a share. The risk reward profile has the potential to be high.
Reasons: Big RSI divergence, Oversold RSI conditions, Doji reversal candle followed by good sized engulfing if current 15m candle remains as it is, Break of channel,we are at a strong resistance level, higher time frame trend is down.
Bullish Butterfly on support areaI setup my support area on a hourly chart. As the price reach the support area I noticed thanks to the RSI that the currency was oversold. On top of that I saw a nice bullish butterfly forming. I went long at 0.76332, set my S/L just below my support area and my T/P just above the pivot point. I'll take another look at what the price is doing in a few hours and might raise my T/P and S/L accordingly
Bearidsh reversal because of being over sold. On 1 hour time frawell you can see there has been a very strong downtrend, when every the 101.671 level bullish action happens based on past performance so a buy order would be ideal. TP and SL have been provided. Profit will be collected when price retraces back to its original resistance. Price has officially gone under a 25 EMA in the past
GBPUSD - Counter Opportunity+++ Don't forget to LIKE & Follow+++I'm currently watching how price bounced from the last structure support level - price did break it, but didn't make a Lower Close.
Right at the structure level we can draw a Fibonacci Extension from previous lower move and a Fib Inversion from the last upward correction - and we will get a nice kill zone. I'm waiting market to hit this zone once again and to form a Double Bottom - with a RSI being in OS for the left Bottom. This will be a nice counter trend opportunity with stops below structure.
Good Luck!
-Alex
Professional Currency Trader & Owner of www.beaprofitabletrader.com
If you'd like to see more good trading ideas from me, click the "Like" button!
You can get my trading ideas immediately, just make sure to follow me.
