USDCAD - Structure BasedA structure-based trade could create an opening for Bat Patterns' die-hard fans. I will watch closely on the candlestick pattern formation to engage on this trade.
p/s: never follow blindly, always do your own analysis
Structurebasedtradesetup
Decision point in AUDJPYHi traders,
today i want to show you a situation that i will be looking to over the next days.
As you can see in the chart (if you zoom out), here in AUDJPY we recently broke a daily resistance and we are now retesting this level that has proved to be strong two times last week, and so i will be looking for some entry reasons (as double bottoms, engulfing kickers) both on the 1hr and the 4hr chart.
As you can see we might get a good risk to reward (always important) and we can also shoot to extended targets (maybe a retest of next daily structure level).
I'll let you know if i can find any reason for entry.
Hope this helps. Let me know if you find some opportunities in there.
I wish you a great trading week.
EURUSD Daily Chart.Looking at structure , expecting to drop , however if it breaks up we can sell at channel line
USD/JPY Friendly breakdown, scenarios and entry strategyA breakdown of USD/JPY with potential scenarios for both the up and downside.
The blue box indicates the criteria for entry with 4/5 requirements needing to be met before entry, this method cuts losses and gives a clear structured way to enter trades that can be back-tested.
Good luck!
Helpful Gold Analysis and trade set up with entry strategy!A breakdown of Gold with potential scenarios for both the up and downside.
The blue box indicates the criteria for entry with 4/5 requirements needing to be met before entry, this method cuts losses and gives a clear structured way to enter trades that can be back-tested.
Good luck!
US Dollar Analysis and entry helpHi traders just sharing analysis for the USD Dollar index and how to pick a great entry.
Potential buy at any failed re-test of the blue line which also aligns with the RSI and historic support levels.
Potential sell at the 61.8% fib level which aligns with previous resistance.
The blue box indicates the criteria for entry with 4/5 requirements needing to be met before entry, this method cuts losses and gives a clear structured way to enter trades that can be back-tested.
Good luck!
Possible 2618 GBPJPYDouble top as Highlighted, Broke structure and now waiting for the outside return.
Got my order set for entry at 131.37 Stop Loss at 131.75 and Take Profit 129
NZDUSD Short AnalysisHello traders.
It looks like we've come to a pretty strong resistance level on the charts (more evident on the weekly chart)
Last week closed off with two consecutive bearish rejection pin bar candles, and formed an inside day pattern while doing so.
This area shares confluence with previous structure high fibonacci extensions as seeon on chart.
Lets see if market open gives us a good opportunity to get involved
7/31/16 - USD/CAD - LONG - "ABC PATTERN COMPLETETION"After capitulating last friday bulls are poised to take back some ground lost.
Overall my trend bias is bullish
My prediction is that price action will AT LEAST hit psychological level of 1.31000
Retrace a little bit and then sky rocket to a FIBONACCI CONFLUENCE
- MONTHLY 38.2% RETRACE
-1.271 FIBONACCI EXTENSION
TREND CONTINUATION TRADEHello traders, recently EURAUD have broke below and closed below the channel as shown above..Now, we're expecting the trend continuation to the down side..IF the price can move back up to previous support that have been broken(purple line), THEN I look forward to sell this pair..Stops and targets as shown on the chart..Good luck :)
EURGBP: Return To Structure Syndicate members there will be a video uploaded breaking down this trade shortly (I have to re-produce it), But what I'm looking for on the EURGBP is a Bullish trend continuation trade opportunity.
The Red & Green boxes represent levels of structure in the market with Red being resistance & Green being Support. As you can see originally resistance held, but once beaten down was turned to support which was also retested and held before rallying higher.
If price action were to return to this level it would offer us a potential trend continuation trade as this market has a lot of upside potential.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
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USDCAD Possible 2618 setup 4hr chart we have had our double top and impulse leg down breaking structure.
Waiting for the outside return to the 618 level before seeing a drop to the downside
order in place for entry 1.30400
Bearish cypher pattern coming back into structure Went short once i saw divergence form and both rsi and cci dipped.Pattern, structure and divergence was enough confluence to enter.
AUDNZD: POTENTIAL BUYING OPPORTUNITY WITH LOW RISK HIGH REWARD!!Hello Traders,
This is a very simple price action based long trade setup on FX:AUDNZD . After reading the price chart, we see the market is in trending mode and currently we are seeing a retracement back into previous structure support (HL). With market coming closer to the previous higher low (HL), this reduces our risk on this trade quiet significantly. Right now we are about finish the AB=CD correction, which completes right within the Fibs cluster zone (green box). I was able to come up with this cluster zone by drawing out Fibonacci retracements, extensions, and inversions from previous market swings.
The stop loss has to go below the previous high low but it also has to be far enough in order to give the trade some breathing room and at the same time not taking huge amount of risk. Taking into account the average true range (ATR= 14 period) based on the 4 hour time frame, this pair moves roughly about 45 pips on average. Thus adding few extra pips to the ATR, we get our stop loss level for this setup at 1.0665 level. Both targets for this setup are structure based, meaning looking back at previous price level that may have acted as strong resistance levels. Thus I saw two clear resistance levels at which it seems reasonable to take some profit off the table, one is at 1.08219 level and the other is at 1.08688 level. See the chart above for more details.
That’s all I would like to cover for this trade setup. If you guys have any questions or comments about this trade, feel free to write in the comment section located under this description section. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. All The Best :)
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