Structuretrade
AUDUSD - BEARISH BIAS - MY FAVE BEARISH ZIGZAG STRUCTURENeed a breakout of DAILY KEYLEVEL & possible retest from the other side (0.7202) before placing SELL trade.
SP500 shortHi trader's,
In Thursday's trading session I will be looking for a short in the SP500. We might start with a push higher but I expect that to be part of the corrective structure which is currently unfolding.
My focus will be on the sell-trade and I will not participate in any potential buy set-ups.
This means that I will be looking for minor flags then execute the sell.
Below; 15 min tf which shows a possible scenario if we see some bullish momentum.
USDCAD buyHi trader's,
we saw the move lower for USDCAD in the beginning of the week completing the pattern we were looking for. Our long term short target has been hit and as I mentioned in my weekly video; 'if we break below previous low (4hr tf), I will be looking for a bullish reversal'.
Currently we see a minor consolidation before we see the next push higher towards 1.3040ish.
At the moment this minor correction looks like a contracting pattern but it can turn into a more significant correction, both are fine by me although a more significant correction will increase risk/reward for me.
Safe trades!
NZDCAD / Structure Breakout Trade2018-8-15
1. Market just broke previous structure Lows on Daily Chart
2. We are waiting for a Fib 618 retest of the structure for our entry.
Targets as shown
Stop Loss right about the BO area
EURUSD: Long Term ForecastingThis week I did take two trade in the EURUSD, both of them being succesful (links below). I got several pm's from traders asking me to post my view in EURUSD forecasting the bigger picture in order to have a solid base to take our decisions.
Looking at the weekly chart of EURUSD and using median line analysis and simple structure levels we may easily see is that price is now being traded at a key support level which consist from the lower parallel of the upsloping pitchfork and a previous resistance structure level now acting as support. In addition to that - always in the weekly chart - we do have a pending head and shoulder pattern with the left shoulder and the head sitting at 1.20450 and 1.25400. A potential rally towards 1.20450 will give us the completion of the pattern and a very good reason to watch for shorts.
Switching to the daily chart we do have more confluence. At current support level we do have a double bottom pattern completion in additon to a bullish RSI divergence - a good sign that price is about to reverse.
All the above give us a clear bullish context in EURUSUD..! This does not mean that is certain that price will head north. Structure changes in no time and our job is to adapt and reconsider our view..!
Like and follow this post as I will continuasly update it when setups make their presence..!
Lastly but no least, feel free to ask to questions and post your ideas so we make this EURUSD idea a big one with a ton of value for the community..!
Afterall if BItcoin is the king of Cryptos, EURUSD is the king of all currencies..!
All the best,
John
Daily Chart:
EURAUD: Head & Shoulders at Key ResistanceA head & shoulders patterns is forming at a key resistance level where we do have previous structure and the0.618 fib retracement of previous downtrend. In addition to that a bearish divergence to the RSI shows that this upmove is losing its steam.
Selling the breakout below the necline of the pattern is a nice idea.
EURGBP: Wash & Rinse Pattern at ResistanceMy favourite price action pattern..! Price breaks above a horizontal resistance level and makes you believe that it will head north. Stops are being washed, everybody give up buying and sellers have an easy job pushing price to the down. Another good sign is that the upper parallel of the channel holds as resistance rejecting price massively.
Going short form current level is a nice idea. Sl and tp as shown in the charts.
Gold: Buy Setup at Key SupportIn my last Gold post I highlighted a head and shoulders pattern which wasn't activated with price dropping even further . It's now testing and being rejected at a key support level - the sliding parallel of a median line set plus the 1.27 fib projection of previous downtrend. Going long from current level is a good idea.
** US Dollar shows signs of weakness which add value to our thought buying Gold.
EURUSD: Great Confluence to Go LongAfter our last successful EURUSD trade (link below) we do have another opportunity ahead. The lower parallel of the median line set, the 78.6% fib retracement of previous impulse, previous support structure and an oversold RSI all give us a very good reason buying EURUSUD.
Sl and tp as shown in the chart..!
EURGBP Daily potential bear Gartley patternThe EURGBP is indicating a strong downtrend at the moment. If market keeps rallying just a little higher, there will a potential bearish gartley pattern setting up for a selling opportunity. Normally, harmonic patterns are used for counter trend trading, but in this case, it can be used as a trend continuation strategy. Plus, the Gartley pattern is completing at previous structure looking left, so it can also be seen as a structure trade.
EURGBP Daily potential bull Gartley patternEURGBP daily chart is showing a couple of lower highs at the moment, which indicates a possible uptrend. If market decides to go lower, there is a potential bullish Gartley pattern getting ready to be completed for a buying opportunity. Plus, RSI is indicating a bullish divergence. Also, the Gartley pattern is completing at previous structure looking left, so it can be considered a structured trade.
EURUSD H1 Trade IdeasMultiple trading opportunity that all turns out to have healthy reward:risk. gonna watch how this story play out. Can't wait.
NZDUSD 1H potential bear Bat patternNZDUSD 1H seems to be in a downtrend right now. Plus, RSI is reaching a high point, and if market can reach higher, we're gonna have a potential bear Bat pattern for a sell opportunity. Also, the completion of the Bat pattern is at the retest of previous structure, which means this can also be seen as a structure trade for all structure traders out there.
NZDUSD 4H potential bull Gartley patternNZDUSD looks like it's walking down stairs right now, goes down rallies up and goes down and rallies up again but never opening above and closing above previous structure. If it keeps going down, there's a potential bullish Gartley pattern just waiting to be completed and having a buy opportunity. Also, this Gartley pattern is completing at some previous structure looking left. Can be seen as structure trading for those who trade structure.
GBPUSD structure analysisThe break of this trendline means several things for me :
-> possible restest of structure support.
-> confirmation of sideways moving period, which allow us to look for pattern trades, or other sideways moving strategies.
However the break of the trendline can create a downtrend on lower timeframe.
What's going to happen here? CHFJPY VideoanalysisHey guys,
in front of you you can see two charts, and that's because i wanted to give you a better perspective on how i look at the markets. As you can see on the left (daily timeframe) price has recently broken and closed above multiple resistance levels, which is an indication of a long bias. Therefore our mindset is now on "buy opportunities" and we can take a look at lower timeframes in order to catch the right trade.
On the hourly chart there's two different cases that could turn into reality:
1- Flag pattern: if we see a break of that trendline, that would mean an early continuation on the upward direction. We could buy at every retracement from that moment on.
2- Retest of structure: the one i'd trust more, if we see price coming back around the black line, we could wait for a confirmation and then buy the markets with tight stops and great targets.
I've explained this strategy along with many other possibilities in my new weekly analysis (click on the link below)
If you have ideas/questions, feel free to share.
Otherwise, see you in the next chart!
USDJPY+Price is at a major resistance level
+Cypher X leg has not been broken above
+RSI overbought
+Even if the price continues to go up there is a trend line which might work as a resistance
We might see some bearish moves from this zone.
FX:USDJPY
Will the USDCAD test the 1.1500 level? With a lower low lower close on Friday of last week I am bearish the USDCAD.
The following are things that I am looking at and keeping an eye on as I look to get short.
We do a 2 levels in the way but in the longer term I am expecting a test of the 1.1500 level.
We have a 618 retrace of low to high
We have a harmonic move completion
We have a 1414 fib ext of the A to be leg
We have a 1618 fib inversion of the C to B leg
We have all this lining up at or near the 1.1500 level
GBPNZD 240min Structure TradeIf you zoom out onto the Daily chart you will see that 1.80 level had some importance in the past. Price has pulled off the Daily Resistance very fast and now looking for a decent rotation off the 1.80 level.
Look for some sort of sign from the market before just aggressively buying up the 1.80. Maybe a double bottom, RSI divergence, bullish candlestick pattern, higher high higher close, advanced pattern, etc.. Just make sure you are following your trading rules!
Best of Luck
