AudJpy Counter Trend Long Then ReverseSmall counter trend opportunity on AudJpy, quite a few inside levels of resistance to be wary of but possible to go higher. If we reach that target zone, I would look to short down for a retest of the lows following our impulse with decent strength shown on the RSI. There is also a decent pattern formation on the 5 min with a double bottom followed by a bullish break.
Stopandreverse
Update On My Bitcoin Prediction!We have had the breakdown out of the ascending channel, like I predicted in the last video. Now, since that has happened we have another opportunity to get involved on the breakdown using a 2618 setup.
Plus we can look to trade this down on a stop and reverse at our major level between 7440 and 7200.
So Phase 1 has played out like I predicted. Let us see if phase 2 will as well.
As always, "follow your plan."
Good luck and good trading!
GBPAUD - let your profits run - Stop & ReverseIf you entered a short based on the Gartley (I missed the entry as I was sleeping), you should be well in profits now, TP1 reached and well on it's way to TP2.
According to my trading plan I normally put TP2 at the 0.618 retracement of BD but in this case I would let it run till the 0.786 and attempt a Stop & Reverse to take benefit of the Cypher pattern that is forming now. Once the .618 is reached, move your stops from break even to the .382 extension to protect your profit and see where this retracement takes you.
Let me know if you have any questions and may the pips be with you !