Euro/JPY Structure analysis with Elliot Wave Taking a look at FX for some friends. Decided to post my take on it
Structuretrading
Gold: Pending Reversed H&S Pattern & Bullish DivergencePrice is forming a reversed H&S pattern at a support level (the sliding parallel of the descending channel). Meanwhile RSI is showing a bullish divergence in addition to an oversold state. In this pattern I will personally buy at the level of the left shoulder with stoploss below the head of the pattern ($1252) and aiming at previous structure at around $1262.
EURUSD - Key Levels To Look ForHey traders! I wanted to spend a few minutes walking you through my broad stroke analysis on the EURUSD and what trading opportunities I'll be watching for the week ahead.
Akil
USDCAD important area for longsDear fellow traders,
Today we have the USDCAD. This pair is approaching a high level of confluence, in a clear bullish trend.
Everything you need is on the chart.
If you like what you see, please drop a like, comment and follow for more ideas!
AUDUSD Potential Short OpportunityWaiting for deep pullback around 0.7650's levels which we have a confluence of fibonacci 1.414 extension,0.618 retracement,AB=CD pattern and major structure on the higher time-frame.If price does eventually get to those structure levels then the last thing to look out for is a double-top and a lower-low lower-close with a bearish divergence for an entry in this potential short position.
AUDUSD 1H Short AnalysisAUDUSD 1h Analysis - If price breaks 0.75425 then I expect it to fall towards the target of 0.74496.
Currently working on keeping my charts as clean as possible, focusing on structure, trend and being aware of support and resistance levels.
AudJpy: Fibonacci 0.618 Long. 1HWe just broke above, and will wait for a pullback into the 0.618, and a confirmation to go long.
We also got a nice H&S, inverted formation on the Daily.
Rsi: Middle.
Does Ethereum want to consolidate?Does Ethereum wants to consolidate between those 2 Daily Structures?
Maybe... But first, I will wait for a double top in the Daily Structure Area and then short it, until the lower area is reached.
BTC bearish btw huehueI'd love to join the moon party with you all but I'm still bearish until we break 13200 :(
Week 8: Are we going to see the 10.5k? =DSince the beginning of the year we have been in a very strong downtrend, but technically the trend has turned bullish on the 4H-Chart as soon as the Blue Structure level was violated after forming a Head & Shoulders.
Since the breakout the price has been in a strong upward movement until the RSI became extremely Oversold and on the next resistance in Green. Since then, the Price is getting some seller pressure.
If the price respects that resistance, it opens up 2 good opportunities to get long.
Scenario 1 (Green Arrows) : This scenario is my preferable one, because:
Breakout Confirmation of the Blue Structure
Breakout Retest of the Head & Shoulders formation
Fibonacci Confluence (61.8% from last leg & 38.2% from last bottom)
If the price retests the Blue Area, I will wait for a candlestick formation to get long for a retest of the previous High Target 1: @9k and an extended Target 2: @10.5k
Scenario 2 (Yellow Arrows) : This scenario is also a possible long opportunity if the price does not break and close below that area, because if it does, I will no longer be interested in a Buy, also on this scenario my targets would be more conservative: instead of aiming for an extended target I would only buy for a retest @7.5k for Target 1 and Target 2 a retest of the previous High @9k.
If you like the Idea give it a thumbs up, leave a comment if you want to discuss it or have any question.
Take care & Happy Pip-Hunting
BITCOIN Did Not Bottom, YetAs expected BTCUSD fell down into wave (c) a third leg of decline that we have been talking about a lot in our past updates. Wave (c) is a motive wave, so it must be made by five subwaves before we may even consider that correction is finished.
Well, if we take a look at current price move on BTCUSD we see very slow structure, thus it’s probably just a wave 4 within still ongoing wave (c). So, sooner or later we expect new decline into wave 5 of (c), where final support zone can be between 8700 level for (A)=(C) and 6800 level towards channel support line and 161,8% Fibo. extension of wave 4.
USDCAD sitting at supportThe power of price structure: previous resistance is now support. Pretty much lines up with .618 fib retracement level, so a bounce from here could be in the cards.
Projected target is 100% fibonacci expansion (or ABCD pattern completion).
always believe on structure .....i personally always believe on structure.. and that chart shows good risk reward...
and now im waiting for divergence....
but remember it needs spike, to go down....
GBPUSD Low Risk High Reward Buy Trade SetupAs price is declining to test the area for Demand, we shall wait for a candle reversal stick pattern before an entry. Min Risk to Reward is 1:3. SL below Demand Zone.
USDJPY Shark Pattern at Previous StructureCompletion of pattern is at 88.6%
Targets are 38.2 and 61.8
Stops above X
BTCUSD Major break of a significant resistance.Bitcoin absolutely smashing through this resistance. Starting to give some nice structure to use technical trading with.
GBPJPY - Start of Week Daily Chart AnalysisI'm not sure if I've ever shared a higher timeframe chart here on TradingView, but something that i do at the start of each trading week is a simple Daily Chart analysis, where I lpook at key levels in the market and begin to set up my overall theories for the week.
Akil
EURUSD 1HR - the importance of structure ----ABCD- 2618Had a very nice conversation about this pair with one of my clients last night and wanted to share this morning now that not much has changed overnight. There are 2 setups on this chart one was a double bottom which can now potentially turn into a 2618 opportunity at MINOR structure & the second is a potential AB=CB pattern with fibonacci confluence that can potentially complete at major structure.
The conversation had yesterday was about how to determine when structure was "Major" vs. "Minor" & how that may affect our trading decisions.
Personally i prefer to look my trading opportunities at major structure as it allows me to be more aggressive with my approach due to the risk reward that is often gained there. Plus we all no that "good moves don't last long" However that doesn't mean that you can't look for trading opportunities at minor structure as well. You certainly can, it just may be worth taking a more cautious approach & waiting for extra confirmation before pulling the trigger.
Well, it's almost 7am, time to double check stops and targets before the today's Monetary policy. A more hawkish than expected tone would work perfectly with my current positions.
GOOD LUCK TODAY TRADERS, HAVE A GREAT TRADING DAY!! See you this weekend with another video... Or maybe today, you never know
Akil
GBPJPY - READY FOR ONE BIG MOVE DOWN? - SIMPLE STRUCTURE TRADINGNot much to say other than the fact that we could be setting ourselves for a big move down, following the trend. We can already see the pair forming a bearish flag so watch closely for the break down.
Trade safe and do your own due diligence before entering the trade.
For further insights join me at:
www.valuedbusinessconsulting.com
GBP/CAD SIMPLE STRUCTURE TRADELooks like we have a valid bearish continuation pattern, and even though the trendline (light blue) has been broken I still don't feel like hopping on the trade, as we have a major level of Key Daily Structure just beneath. Therefore I prefer waiting for that level to break, retest it (by bouncing of the S1 daily PP) and then enter to get a better entry point.
All other details are displayed on the chart
DO YOUR OWN DUE DILIGENCE BEFORE ENTERING THE TRADE. NOT A TRADING SIGNAL.
Bearish Gartley 60 min chartfrom price action recent big move to the downside it has pulled back into structure. in doing so has formed a bearish gartley formation.
I am already live holding 2 positions. Entry was at 1.30156
stopps at 1.30347
1st Target 1.29862
2nd Target 1.29658
