Structure-trade
BEARISH CADJPY CYPHER PATTERN COMPLETION AT STRUCTUREThere is a potential cypher pattern completion at structure.
Not just that there is a 200 EMA confluence, monthly candle open price and monthly pivot point.
So look at all the elements of confluence we have at that location:
1. Daily Structure Level
2. cypher pattern completing at structure.
3. 200 EMA confluence at cypher completion.
4. Monthly pivot confluence at structure
5. monthly candle open price at structure.
Please note that this is not trading advice, follow your trade plan.
Cheers!
AUD/NZD WEEKLY CHANNEL RESISTANCE AND STRUCTUREThe pair has reached the resistance area of a massive downward channel it was trading in for the last 3 years.
The resistance line is porous, and is more of an area though, which can be seen by the spikes of the weekly candle shadows spanning way outside the channel borders. The horizontal structure to the left helps us determine the potential area of resistance where the upward move can be reversed.
I will be watching the price action closely to determine entry points.
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Wish you all best of luck in your trading!
USD/JPY potential big drop ££100pips££Looking at the daily chart you can see price breaking structure, waiting for price to break the support level and wait for conformation before entering the trade. Use a lower time frame for better entry. Always look left! As you can see marked up (green circle) a nice area where price once was, this is the area I’m targeting if I get in this trade.
£ Good luck
£ stay profitable
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Bullish Gartley EUR/USDHey Traders,
So, if you had traded the EUR/JPY Bullish Bat I posted earlier this week you would have banked around 85 pips. Secondary targets reversed and stopped out at break-even, We can't always have it all traders lol. An important factor we banked profits from that trade but always be ready to hand them back over.
Moving forward, we have another advanced pattern setting up on EUR/USD in the form of a bullish Gartley, I'm already short this pair, T1 hit and waiting now to stop and reverse. For the bullish Gartley, Entries at 1.1094, targets at 38.2 & 61.8, Stops below X.
Good luck traders will keep you updated on the performance.
EurGbp HTFDaily is currently at a minor support level so we can see some relief to the green line. Double Bottom and then a break of the V Point on the 60 can provide a decent opportunity between the zones drawn in. 60 in itself isnt too convincing but you can use it as an entry for higher time frame perspective.
Another Short!! (ofcourse)Looks like I am very bearish on every stock!! anyways
Going with the trend on this trade which is down! it is a straightforward setup, no complex pattern or anything.
Price action hit the previous structure + Fib 38.2% zone with confirmation
I did not see this trade early enough i am a day late on this trade but the green candle yesterday is showing me, market is giving me another opportunity to get in.
Trading Plan
1. Trade at open
2. Stop loss outside of the zone as well the 50% fib level.
3. target to be at previous structure low.
Good luck!
NzdJpyFollowing a decent impulse to the upside on the 60 and not a conflicting bias on from the daily as that is consolidating, I believe price can go higher if not to a retest of the highs too. Came into a minor level of support with fairly safe stop placement. A quick potential day trade which I am involved in.
short Trend trade on lower time frameHigher time frame 60 min shows a strong lower trend by making lower lows. Price has retraced back close to previous highs, which makes a great risk/reward trade, and RSI on the higher time frame shows overbought conditions. I am short taking profits at previous structure lows