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Sharkpatterns

Trend Doesn't Matter!!I'm not saying that trend isn't important, but on this particular trade, it is NOT. And that is because the NZDJPY is on a sideway market, and it didn't show a particular prominent sign. My top focus is to wait for a shorting opportunity on the Bearish Crab Pattern that shows up on the daily chart. It is common for crab patterns to have their retest before the actual move. Why this Crab Pattern? It coincides with the Bearish Shark Pattern on the Weekly Chart. If you want a buying opportunity, a magic candle confirmation 87.21 on the 1-hourly chart will allow you to engage the trade. Gartley Pattern is the first pattern that was discovered. What makes this Bullish Gartley Pattern interesting is that the completion falls on the Key Support Level on the Daily Chart, marked as the Blue Horizontal Line, indicating a Key Support Level. This is both amazing and disturbing to see for both traders. What's your take on the NZDJPY?
Short
by RaynLim
1
This is why Most Traders Lose MoneyLook at the higher timeframe(right), on the Weekly chart, and have your focus on the retest of the previous high. Not only it fails to close above the previous high, but it also has an RSI Divergence. On the bigger picture, EURUSD is on a Bearish Move. I'm not saying you can't make money if you have bought EURUSD, but you shouldn't stretch your target when you are counter-trend trading and you won't know that if you didn't get the trend right. On the lower timeframe, the 4-hourly chart, Trend Traders could wait for a retest of the Key Resistance Level at 1.0912 and wait for a Magic Candle Confirmation to engage the trade. Counter-Trend Traders could wait for the completion of the Bullish Shark Pattern, followed by a Magic Candle Confirmation at 1.0707 before heading for a buying opportunity. What's your trade plan for the week? Comment down below.
Short
by RaynLim
Expansion PatternsAUDCAD has a unique setup that I'd not seen before. We have shark patterns from the Weekly chart to the 1-hourly chart. This is a clear sign of sideway increase volatility, a situation I DID NOT trade when I started trading 18years ago, not until I found the Shark Pattern trading strategy 12years ago. I'm more comfortable waiting for the Shark Pattern form up on the 1-hourly chart at 0.8902. Not only because it was the lowest timeframe, which means lesser initial risk on the trade and the completion of the Shark Pattern lands on the Key Support level on the 1-hourly chart.
Long
by RaynLim
BTC Expects a Tiny FUDThe pressure of the SEC on Binance and Coinbase was not only badly received in the markets, but also stopped my bull analysis and we had to close the position at a loss. The first thing I saw when I looked at the chart from afar before opening a new position was that Bitcoin was on the eve of creating a second shark pattern. Bitcoin, which repeats the pattern it made in August 2021, can move towards the $18400 target if this upward trend is broken. Even though I see no reason not to make this move when an extraordinary FUD is swirling in the markets and fear prevails, I still keep my positive mindset and will start sharing pessimistic scenarios only if it retests after breaking the resistance. Even if uptrend continues, this risk seems to continue as long as the $30700 level is not exceeded.
INDEX:BTCUSD
by YavuzAkbay
The Oldest Pair I've TradedDo you still remember those unforgettable moments when I first embarked on my trading journey with GBPJPY? It holds a special place in my heart as the very first pair I traded, and I stuck with it through the ups and downs until the spread for GBPJPY skyrocketed to 14 pips for an extended period. Oh, the memories! Presently, GBPJPY finds itself in a captivating sideways movement, offering ample opportunities for those employing the support and resistance trading strategy. It's a perfect scenario for executing the age-old principle of buying low and selling high, or even exploring the realm of harmonic patterns. Personally, I'm eagerly awaiting the completion of a bearish shark pattern at 173.23, signaling a potential shorting opportunity that aligns with my analysis. Alternatively, you can choose to navigate the daily chart's defined zone, indicated by the red resistance line at 172.05 and the blue support line at 167.48. Within this trading range lies an enticing profit potential of 457 pips just waiting to be tapped into. Join me as we delve into the timeless allure of GBPJPY and unleash the vast possibilities it holds for traders like us.
Short
by RaynLim
It's NO SECRET, I'm shorting AdidasIt's no secret that I've been looking to short Adidas for weeks before the Bearish Bat Pattern show up. As a trader, I love to wait for the precise price with candlesticks confirmation before engaging my trade; hence I miss the first opportunity. And that's ok! In trading, I have this philosophy that is better to miss a trade than to engage in a trade at a price of disadvantage. So here I am, trading for the past 18 years. At this moment, I'm waiting for the Bearish Shark Pattern to form up on the 8 range bar chart to give me a second chance entry to get on this ride.
XETR:ADSShort
by RaynLim
Effortless trade execution: seize the opportunity with easeAs a trader, I prefer to search for trades that display a distinct direction on the higher timeframe and then hone in on that direction on the lower timeframe. However, I understand that some traders prefer to jump on opportunities as they arise. This week, the AUDUSD has presented us with such an opportunity, as the Bullish Shark Pattern trading setup has completed at 0.6637. The next step is to wait for a confirmation of a candlestick pattern on the 4-hourly chart before entering the buy position. This approach provides a clear plan and enables us to make informed decisions based on sound trading principles.
Long
by RaynLim
My Bullish Bias RemainsUSDJPY Shorting Opportunity Looming, But My Bullish Bias Remains Strong In the midst of a Type 2 Bearish Bat Pattern on the daily chart and a Bearish Shark Pattern on the 1-hourly chart, traders may be eyeing a shorting opportunity for the USDJPY. However, my bullish bias on this currency pair remains steadfast. Rather than jumping on the bearish bandwagon, I am patiently waiting for a prime buying opportunity on the USDJPY. I'm closely monitoring a Bullish 5-0 pattern that could potentially complete at 134.71, presenting an ideal entry point for a long position. Stay tuned for further updates on this developing trade opportunity.
Long
by RaynLim
Unlocking Profit Potential: Why I'm Holding Out for a Prime BuyiThis week, an opportunity has presented itself for a potential buying position on the GBPUSD pair. Two prominent trading setups - the Bullish Shark Pattern and the AB=CD pattern - have emerged, signalling a potential bullish trend. While I hold a bullish bias due to a previous break and close above resistance on the weekly chart, I exercise caution and wait for confirmation from candlestick patterns before entering the trade. This strategic approach ensures that I make informed and calculated trading decisions.
Short
by RaynLim
Second Chance to ShortTraders who missed out on the previous shorting opportunity may have a second chance at hand with the potential setup of Type2 Bearish Shark and Type2 Bearish Deep Gartley pattern in the market. However, it is important to note that one of the downsides of Type2 setup is its unpredictability, and it may not always work. To mitigate the risk, it is crucial to exercise patience and wait for a candlestick pattern confirmation before engaging in the trade. Rushing into the market aggressively without proper confirmation could lead to unwanted consequences.
Short
by RaynLim
Swim with the Bulls: Capitalize on the Bullish Shark Pattern forAre you on the hunt for a buying opportunity on the GBPUSD pair? Well, look no further! The bullish shark pattern may just be the key to unlock your trading success. At the potential buying opportunity completion level of 1.2338, all that's needed is a 3-bar reversal for the final confirmation, making it a prime time to take advantage of this bullish market trend. Don't miss out on this opportunity to enter the market and potentially reap the rewards. Keep a close eye on the GBPUSD pair and the bullish shark pattern to stay ahead of the game.
Long
by RaynLim