GBPUSD-Weekly Market Analysis-Jun19,Wk2On the daily-chart, bullish shark pattern setup for a buying opportunity and the great thing about this for many traders is on the 4-hourly chart the market is now within the sell zone but at the very extreme end of it.
Such setup although is high-risk for sellers but it provides a fantastic reward:risk. The ball is in your court and the choice is yours.
Follow your trade plan.
Sellzone
Trade Ideas Position: EURJPY BatTypically not the best setup, conservative traders may want to wait for candle confirmation before engaging the trade.
However, this trade is set up at the tip of the sell zone and event the 1st target produced a 2:1 Reward: Risk.
The choice is in your hand, your plan, you decide.
Trade Ideas Position: USDSGD BatRemember this? We have shared this last Friday. After much consideration, I do see this is tradable setup, not the usual pair I will trade but with information gather, I have already placed the pending order.
The only thing is to wait for the market to retest the suppose entry price.
Trade Ideas Position: NZDJPY SharkBearish Shark Pattern within the sell zone is perhaps the most preferred setup I was looking for to engage a trade. In addition to that an RSI Divergence and the fact that this is a trend trading trade, further sweeten it.
The only thing that I don't quite like, it is near the end of the recent low. However, it's just an intraday trade.
DO IT ALREADY right?
USDJPY-Weekly Market Analysis-May19,Wk5On the daily chart(right) an emerge bullish bat pattern is on the way and on the 4-hourly chart(left) the bearish bat pattern is emerging.
So what should you be doing?
That's when 2 important things come in place.
1) Filters and trade plan: this removes emotion and uncertainty in trading.
2) Overall market fundamental analysis, in this case, US Economy vs Japan Economy:
US
Any news along with interest rate cut, trade war, etc...
Japan
Any exchange rates intervention?
Have a good think through on this.
USDJPY-Weekly Market Analysis-May19,Wk4A simple sell zone and an aggressive shorting opportunity when the market opens on this long shadow candle.
Check your live data on the closing price of the bullish long shadow, mine live data, the candle just close at the previous high and did not close above.
Trading can be simple.
EUR/USD Trading PlanPriority: Short
Reasons for open position:
- sell zone is 1.1275-1.1278
- high of candle with highest volume
- wait a pullback and open sell
Stop above 1.1288. More safe stop loss will be at 1.1304 and above. You make a decision which risk you takes
Take profit 1.1210 and higher, depends on your greed
If you like idea, please push like and subscribe, it motivates me to post ideas more often.
Trade Ideas Position: GBPJPY BatLooking for shorting opportunity by 2245hr if the trade didn't trigger, this trade will be invalid for me.
That is 1 of the filter I use for harmonic patterns, come and think of it, if the market just hover within Point C and Point D for 6years before hitting it, will it still be valid?
This is 1 good thoughts you should have, how long more for this to be invalid.
Exact Entry, Stops and Targets sent to my subscribers.
Trade Ideas Position: EURUSD BatA Fib inversion, ABCD pattern, Bearish Bat all line up within the 4-hourly sell zone for this trend continuation setup.
Trade Plan set up for me and will post to my subscribers.
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