Nasdaq Weekend Pre MarketIt's the weekend. I like to go out to my larger charts and clean off the entire chart and start analyzing the instrument for next weeks trading.
We know that price is going to move up or down from where it currently is located, so we just need to make up a game plan to trade it..
Looking out at the 4 hour, 1 hour, and 15 minute charts for our trend and target analysis. Then dialing it down to the 3 minute or 15 minute to look for an entry!
Trendtrading
Never Underestimate A Simple Setup USDCHF +120 Pips Update: simple and easy setups sometimes are the best so never underestimate ur trade and have second thoughts about it on 2 conditions:
1- u enter from strong area of resistance or support.
2- u don't enter against the trendline or the general direction of the pair.
the price is creating very decent waves and also it will hit 71% fib level that will be at the same are of the trendline so putting a sell trade around this are will be great opportunities
Trading Idea: Bearish Shark Setup on NZDUSDI wanted to share an interesting setup on NZDUSD that’s been forming for a while. Let’s dive into the details!
Current Overview:
Bearish Shark Setup:
Potential Reversal Zone (PRZ) : The setup has been hovering at the PRZ, which some traders might misinterpret as a violation.
Key Insights:
Having the Right Knowledge Matters : From my 19 years of trading and nearly 16 years of coaching, I’ve seen even experienced traders make mistakes in reading signals like this. It’s not uncommon for traders with 8 years of experience to misjudge such setups.
Strategy:
Second Chance Entry:
Key Level : 0.5935
What to Do: If you missed the initial signal, wait for the market to retest 0.5935 for a second chance entry opportunity.
Community Alert:
This Trade Alert was triggered at 14:00(SGT)
Final Thoughts:
Patience and proper signal interpretation are crucial in trading. If you’re looking for a second chance, keep an eye on 0.5935. Don’t hesitate to reach out if you need more insights or if you missed this trade.
What’s your take on this setup? Have you seen similar patterns before? Share your thoughts and strategies below!
Happy trading, everyone!
This Simple Error Cost Me Big on XAUUSD! Learn From My Mistakes!Key Levels and Zones
Highs and Lows:
HH (Higher High) and LH (Lower High) are marked on the chart.
The chart shows a recent HH and LH indicating a bullish trend with a potential pullback.
Liquidity Zones (LQZ):
4HR LQZ at 2474.891: This zone might act as a significant resistance level.
4HR LQZ at 2432.126 - 2432.046: This zone was previously a resistance level that may now act as support.
4HR LQZ at 2348.453: Another support zone lower on the chart.
Daily Bull Flag:
A daily bull flag is drawn, suggesting a potential continuation of the bullish trend if the price breaks out upwards.
Trading Plan
Identify Key Zones:
Mark key support and resistance levels on your trading platform.
Wait for Confirmation:
Look for confirmation signals (candlestick patterns, volume spikes) before entering a trade.
Set Alerts:
Use trading alerts to get notified when the price reaches key levels.
Risk Management:
Always use a stop loss to protect your capital.
Ensure your risk-reward ratio is at least 1:2.
Review and Adjust:
Regularly review your trades and adjust your strategy based on market conditions.
Gold Breakout Imminent? Uncover the Explosive Potential of GOLD!Current Trend
Bull Flag Formation: The chart indicates a bull flag pattern, a bullish continuation pattern that usually occurs after a strong uptrend (flagpole). The consolidation within the flag is typically a pause before the next upward move.
Trendlines: The yellow trendlines outlining the flag suggest that the price is currently testing the upper boundary of this consolidation range.
Fibonacci Retracement Levels
78.60%: This level is around 2431.637 (coincides with a 4HR LQZ), acting as a strong resistance zone.
61.80%: Around 2410.880, which the current price has just crossed, potentially indicating bullish momentum.
50.00%: Around 2393.940, served as a support level during the consolidation.
38.20%: Around 2372.760, another support level during the consolidation.
Liquidity Zones (LQZ)
4HR LQZ at 2431.637: A significant resistance zone that aligns with the 78.60% Fibonacci retracement level. This is a critical area to watch for potential price reaction.
4HR LQZ at 2349.449: A key support zone which held during the recent consolidation phase.
Price Action
Current Price: At 2410.880, the price is approaching the critical resistance at the 4HR LQZ (2431.637).
Breakout Potential: If the price can break and hold above the 2431.637 level, it may confirm the continuation of the bullish trend, targeting higher liquidity zones.
Support Levels: The price needs to stay above the 61.80% Fibonacci retracement level (2410.880) to maintain bullish momentum. A drop below could lead to further consolidation or a bearish reversal.
Daily Bull Flag
Upper Trendline: The price nearing the upper trendline of the daily bull flag indicates potential breakout if breached.
Lower Trendline: Support if the price pulls back.
Trading Strategy
Long Entry:
Upon a confirmed breakout above the 4HR LQZ at 2431.637, with a potential target of the next daily liquidity zone at 2475.281.
Use the 50.00% retracement level (2393.940) as a support for placing stop-loss to protect against downside risk.
Short Entry:
If the price fails to break above the 4HR LQZ and shows bearish reversal signs, a short trade could be considered with a target back to the lower 4HR LQZ at 2349.449.
Use the current price level (2410.880) as a resistance for stop-loss placement.
Risk Management:
Utilize appropriate position sizing and risk management to account for volatility and potential price fluctuations.
Summary
Bullish Outlook: If the price breaks above the 2431.637 level, indicating a continuation of the bull flag pattern, with targets at 2475.281 and beyond.
Bearish Outlook: If the price fails to break above 2431.637 and shows a reversal, potential downside targets include 2393.940 and 2349.449.
Monitoring the price action around these critical levels will be crucial in determining the next significant move for XAUUSD.
DOGE - 120% Increase FIB Target (⊙_⊙)Dogecoin is looking bullish here for a couple of reasons:
1) Chart Pattern
Inverse Head and Shoulders in the Daily
2) Technical Indicator
"BUY" flash in the weekly
3) Trendline Analysis
Higher lows, consistently
If you've been following, you'll know I've been looking at a multi-month playout where we can expect another impulse wave up in Bitcoin as well as for altcoins, naturally. A few days ago I made a post on why I believe the corrective phase is over, and why we're likely in the beginning of the new impulse wave up. 👇
It's important to note that this impulse wave is potentially another multi month playout . But with patience, and courage, it can be a rewarding upcoming few months.
___________________________
KUCOIN:DOGEUSDT
Gold's Next Explosive Move: Is a Massive Surge or Dramatic Drop?Major Support / Resistance Zone:
This zone is marked clearly on the chart and acts as a significant level where price has previously reversed or consolidated. It's crucial to monitor how price reacts around this area.
Wave Analysis:
The chart shows a clear Elliott Wave structure, with a 5-wave pattern identified. Waves (1) to (5) represent the motive waves, and the correction waves are seen in between.
Bearish Flag #1 and #2:
These flags indicate periods of consolidation following a downward movement, suggesting potential for continuation to the downside. They are often characterized by lower highs and lower lows forming within a channel.
Descending Channel:
The descending channel provides a clear bearish structure, with price making lower highs and lower lows. This channel acts as a guide for potential price movement, indicating bearish sentiment as long as the price remains within this structure.
Daily Bull Flag:
This larger bullish flag formation suggests a longer-term bullish potential if price breaks above the flag's upper boundary. It's a key pattern to watch for potential upside.
1HR LQZ / Reversal Zone:
This liquidity zone (LQZ) is marked as an area where a significant amount of orders might be present, potentially leading to reversals or significant price reactions.
4HR LQZ:
Similar to the 1HR LQZ, but observed on the 4-hour timeframe, suggesting a more significant potential reversal or consolidation area.
Bullish Potential:
If the price breaks above the 1HR LQZ / Reversal Zone and the descending channel, there is a bullish potential up to the levels marked on the chart. The structure would need confirmation through higher highs and higher lows.
Bearish Potential:
If the price fails to break above the descending channel and instead moves below the 4HR LQZ, a bearish continuation is likely, potentially targeting lower support levels.
Summary
The chart indicates a potential for both bullish and bearish scenarios depending on how the price reacts to the identified key levels (major support/resistance zone, 1HR and 4HR LQZs, and the descending channel).
Bullish scenario: Break above the 1HR LQZ and the descending channel, leading to a continuation towards higher levels.
Bearish scenario: Failure to break above the descending channel and a move below the 4HR LQZ, indicating a continuation to the downside.
This analysis should help in making informed trading decisions based on the observed technical patterns and key levels.
Gold's Next Big Move: Will It Skyrocket or Plummet? Expert View!Major Support / Resistance Zone:
This zone is marked clearly on the chart and acts as a significant level where price has previously reversed or consolidated. It's crucial to monitor how price reacts around this area.
Wave Analysis:
The chart shows a clear Elliott Wave structure, with a 5-wave pattern identified. Waves (1) to (5) represent the motive waves, and the correction waves are seen in between.
Bearish Flag #1 and #2:
These flags indicate periods of consolidation following a downward movement, suggesting potential for continuation to the downside. They are often characterized by lower highs and lower lows forming within a channel.
Descending Channel:
The descending channel provides a clear bearish structure, with price making lower highs and lower lows. This channel acts as a guide for potential price movement, indicating bearish sentiment as long as the price remains within this structure.
Daily Bull Flag:
This larger bullish flag formation suggests a longer-term bullish potential if price breaks above the flag's upper boundary. It's a key pattern to watch for potential upside.
1HR LQZ / Reversal Zone:
This liquidity zone (LQZ) is marked as an area where a significant amount of orders might be present, potentially leading to reversals or significant price reactions.
4HR LQZ:
Similar to the 1HR LQZ, but observed on the 4-hour timeframe, suggesting a more significant potential reversal or consolidation area.
Bullish Potential:
If the price breaks above the 1HR LQZ / Reversal Zone and the descending channel, there is a bullish potential up to the levels marked on the chart. The structure would need confirmation through higher highs and higher lows.
Bearish Potential:
If the price fails to break above the descending channel and instead moves below the 4HR LQZ, a bearish continuation is likely, potentially targeting lower support levels.
Summary
The chart indicates a potential for both bullish and bearish scenarios depending on how the price reacts to the identified key levels (major support/resistance zone, 1HR and 4HR LQZs, and the descending channel).
Bullish scenario: Break above the 1HR LQZ and the descending channel, leading to a continuation towards higher levels.
Bearish scenario: Failure to break above the descending channel and a move below the 4HR LQZ, indicating a continuation to the downside.
This analysis should help in making informed trading decisions based on the observed technical patterns and key levels.
HAL: Bullish Divergence & Trend Line InsightDiscover the latest technical setup for Hindustan Aeronautics Ltd (HAL) with a focus on bullish divergence and the ascending trend line. As we anticipate upcoming news events, explore how these factors could impact HAL’s stock performance and trading strategy.
Buying Opportunity on GBPUSDIf you're looking for a buying opportunity on GBPUSD like I am, there’s an exciting setup to keep an eye on.
Current Overview:
4-Hourly Chart:
- There’s a Bullish Shark Pattern nearing completion, which is a great setup for a potential buy.
Buying Opportunity:
Bullish Shark Pattern Completion:
- Key Level: 1.2807
- What to Do: Wait for the Bullish Shark Pattern to complete at 1.2807.
Strategy:
1. Magic Candle Confirmation: This is crucial! Wait for the Magic Candle Confirmation at 1.2807 before entering a long position. It increases the chances of a successful trade.
2. Stop-Loss: Include our stop-loss buffer just below the pattern completion level to manage risk.
Final Thoughts:
Trading the Bullish Shark Pattern can be highly rewarding if executed properly. Stay patient and wait for the confirmation before jumping in.
Are you planning to trade GBPUSD? Do you have any additional insights or strategies? Share your thoughts and strategies below!
Happy trading, everyone! 🚀
Buying Opportunities on EURUSDHere’s an exciting update on EURUSD, which has just broken out of consolidation on the weekly chart. Let’s explore the buying opportunities available.
Weekly Chart:
EURUSD has broken and closed above the consolidation, signaling a potential upward trend.
Buying Opportunities on the 4-Hourly Chart:
1. Support Level:
- Key Level: 1.0843
- What to Do: Look for a buying opportunity at this support level.
2. Bullish Shark Pattern:
- Pattern Completion Level: 1.0820
- What to Do: Wait for the Bullish Shark Pattern to complete at 1.0820 for another buying opportunity.
Strategy:
1. Magic Candle Confirmation: Always wait for this confirmation before entering the trade. It ensures a higher probability of success.
2. Stop-Loss: Place your stop-loss just below the entry level after our buffer to manage risk.
Final Thoughts:
This breakout on the weekly chart offers promising buying opportunities. Remember to stay patient and wait for the Magic Candle Confirmation before entering your trades.
What’s your plan for EURUSD? Are you looking at the support level or the Bullish Shark Pattern? Share your thoughts and strategies below!
Happy trading, everyone! 🚀
TATN 1H Swing Long Conservative Trend TradeConservative Trend Trade
+ long impulse
+ expanding volumed T2 level
+ support level
+ volumed 2Sp+
+ weak test
+ first bullish bar closed entry
Calculated affordable stop limit
1 to 2 R/R take profit
Day trend
"+ long impulse
+ T2 level
+ support level
+ 1/2 correction?"
Month trend
"+ long balance
+ expanding T2 level
+ support level"
VZ 5M Long Daytrade Aggressive Trend TradeAggressive Trend Trade
- short impulse
+ volumed T1 level
+ support level
+ biggest volume weak attempt manipulation
Calculated affordable stop limit
1 to 2 R/R take profit
Hour Trend
"+ open gap with retest
+ long impulse
+ SOS test level
+ 1/2 correction
+ support level
+ volume zone"
Daily CounterTrend
"- short impulse
- biggest volume TE / T1"
Monthly Trend
"+ long balance
+ historical 1/2 correction
with exhaustion volume in the end
+ initiative take over
+ ICE level
+ volumed? 2Sp
+ weak test"
VZ @NYSE
Sell Limit 40.22, GTC
Sell Stop 39.89 LMT 40.01, GTC
Missed the XAUUSD Move? Here’s What You Overlooked!1. Daily Trendline
Description: The yellow trendline running across the chart represents the overall upward trend on the daily timeframe. It shows that despite the recent fluctuations, the long-term trend has been bullish.
Significance: This trendline serves as a dynamic support level. Traders often look for price action around this trendline to gauge the strength of the ongoing trend. A break below this trendline could signal a potential reversal or a stronger bearish movement.
2. Ascending Channel
Larger Ascending Channel:
Description: This channel is characterized by two parallel lines (yellow) sloping upwards. The price has been moving within this channel for a considerable period.
Significance: The upper boundary acts as resistance, while the lower boundary serves as support. The price breaking below the lower boundary can indicate the end of the bullish trend and the beginning of a bearish trend.
Smaller Ascending Channel:
Description: A smaller channel within the larger context, indicating a shorter-term upward movement.
Significance: The break below this smaller channel, as shown on the chart, signifies a potential reversal or correction within the larger trend.
3. Support/Resistance
Description: Horizontal lines marked as support and resistance represent key price levels where the price has historically faced buying or selling pressure.
Significance: These levels are crucial for identifying potential entry and exit points. The support level acts as a floor where buying interest is strong enough to prevent the price from falling further. Conversely, the resistance level acts as a ceiling where selling interest prevents the price from rising further.
4. Higher High (HH) and Lower High (LH)
HH (Higher High):
Description: A peak higher than the previous peak, indicating the continuation of an uptrend.
Significance: The formation of a higher high typically signals bullish momentum. However, in this case, the subsequent failure to maintain this level and the formation of a lower high (LH) suggests weakening bullish strength.
LH (Lower High):
Description: A peak lower than the previous peak, indicating potential trend reversal.
Significance: The lower high after a higher high is a bearish signal, suggesting that buyers are losing control and sellers are gaining strength.
5. 15M/5M Bear Flag Entry
Description: A bear flag pattern on the 15-minute and 5-minute timeframes is highlighted. This pattern consists of a sharp decline followed by a short consolidation in the form of an upward-sloping channel (flag).
Significance: The bear flag is a continuation pattern, indicating that after a brief consolidation, the price is likely to continue its downward movement. The breakout from this flag pattern provides a potential entry point for short positions.
6. Target Profit Levels (TP 1 and Daily LQZ/TP 2)
TP 1 (2,347.560):
Description: The first target profit level is set at 2,347.560.
Significance: This level is likely determined based on historical support levels or a measured move from the recent price action. Traders might look to take partial profits or exit their positions at this level.
Daily LQZ/TP 2 (2,265.195):
Description: The second target profit level is set at 2,265.195, which aligns with the daily liquidity zone.
Significance: This is a more ambitious target, potentially indicating a stronger bearish move. The liquidity zone suggests an area with significant trading volume, which could act as a magnet for the price.
Conclusion
The chart presents a comprehensive analysis of the XAUUSD (Gold Spot) with multiple technical indicators suggesting a potential bearish outlook. The breakdown from the ascending channels, the formation of a lower high, and the bear flag pattern all point towards a continuation of the downward trend. The identified support and resistance levels, along with the target profit zones, provide clear benchmarks for managing trades.
XAUUSD Poised for a Massive Breakout: Are You Ready?Chart 1: 4-Hour Timeframe
Trend Analysis:
The chart shows a clear upward trend, forming higher highs and higher lows.
A wedge pattern is visible with converging trend lines indicating a potential breakout scenario.
Key Levels:
Support: Around 2348.248 (4hr LQZ).
Resistance: Approximately 2412.240.
Major Resistance: The upper trendline around 2480.
Recent Price Action:
The price has recently tested the lower trendline support and is currently retracing upwards.
A lower high (LH) has formed around 2480, suggesting a potential reversal or consolidation phase.
Potential Scenarios:
Bullish: If the price breaks above the 2412 resistance, it may retest the upper trendline around 2480.
Bearish: A break below the 4hr LQZ at 2348.248 could signal further downside towards the daily LQZ at 2267.320.
Chart 2: 1-Hour Timeframe
Trend Analysis:
A shorter-term view confirming the upward trend with higher highs and higher lows.
The formation of a wedge pattern indicates consolidation within a narrowing price range.
Key Levels:
Support: Around 2348.248 (4hr LQZ).
Resistance: Approximately 2412.240, coinciding with the previous chart.
Recent Price Action:
Price recently bounced off the 4hr LQZ support level and is now hovering near the 2412 resistance.
The lower high (LH) indicates sellers are stepping in around the 2412 level.
Potential Scenarios:
Bullish: Breaking and closing above 2412 could lead to further upside towards 2480.
Bearish: Rejection at 2412 and a break below recent lows could target the 4hr LQZ support at 2348.248.
Chart 3: 15-Minute Timeframe
Trend Analysis:
Short-term consolidation observed within a wedge pattern.
Recent price action indicates potential for a breakout or breakdown from this pattern.
Key Levels:
Support: Around 2348.248 (4hr LQZ).
Resistance: Approximately 2412.240.
Recent Price Action:
Price is consolidating just below the 2412 resistance level, forming a wedge pattern.
The 15-minute timeframe shows the price struggling to break above 2412.
Potential Scenarios:
Bullish: A breakout above the wedge and 2412 resistance could lead to a quick move towards 2480.
Bearish: A breakdown from the wedge could revisit the 4hr LQZ support at 2348.248.
Conclusion
The overall trend across multiple timeframes remains bullish with key resistance at 2412 and significant support at 2348.248. A break above 2412 could signal further upside towards 2480, while a failure to break and sustain above this level may lead to consolidation or a pullback to the 4hr LQZ support. Monitoring price action around these key levels will provide insights into the next directional move.
Gold at Crossroads: Breakout or Breakdown? Dont Miss It!Technical Breakdown for XAUUSD
Impulsive Move and Correction:
The price made an impulsive move upwards, indicating strong bullish momentum initially.
After reaching the peak, the price began to form a correction pattern, which typically suggests that the trend might continue in the same direction after the correction is complete.
Descending Channel:
Within the correction, a descending channel formed. This pattern often indicates that once the correction is over, the price may break out in the direction of the original move (downwards in this case).
Liquidity Zones (LQZ):
1HR LQZ / Reversal: The current price is around the 1-hour Liquidity Zone, a critical area where buyers or sellers are likely to step in, potentially causing a reversal or significant price movement.
4HR LQZ: A longer-term liquidity zone that acts as a strong support level, where price may react and change direction.
Daily LQZ: Another significant support level on a daily timeframe that can influence long-term price movements.
Key Observations:
Lower High (LH): The chart shows a lower high, suggesting a potential bearish trend continuation.
Correction Pattern: The price forming a correction pattern within the descending channel indicates that traders should watch for a potential breakout, likely to continue the downtrend.
Trading Insights:
Trend Continuation:
The correction pattern within the descending channel suggests a possible continuation of the downtrend. Traders might look for breakout signals below the channel to confirm this move.
Reversal Potential:
If the price holds at the 1HR LQZ or breaks above the descending channel, it could signal a bullish reversal, providing an opportunity for upward trades.
Key Levels to Monitor:
1HR LQZ: Watch for price reactions around this level for potential short-term trading opportunities.
4HR and Daily LQZ: These levels are crucial for identifying long-term support and resistance, offering potential entry and exit points based on how the price interacts with them.
Summary
Understanding impulsive moves, correction patterns, and liquidity zones can significantly enhance your trading strategy. By observing how price reacts at these key levels and patterns, you can make more informed trading decisions. Watch for breakout signals from the correction pattern and monitor the liquidity zones for significant price reactions to identify potential trading opportunities.
NZDUSD - Selloff Acceleration on Neckline BreakThis week's open will be interesting. It'll largely be dependent on the resumption of strength of the US dollar.
The anticipated strengthening of the US dollar is supported over on this NZDUSD pair. Looking at the daily timeframe, the New Zealand dollar has shown a weakening in strength throughout the months of June and early July.
My proposed trade entry and exit targets are based on the 5-period daily ATR of 42.
Take profit: 100 pips (2x~)
Stop loss: 40 pips (1x~)
USDJPY Opportunities for Both Bears and BullsHere’s an exciting update on USDJPY, which has something for both short-sellers and those looking to buy. Let’s dive in!
Current Overview:
- 4-Hourly Chart:
- There’s a sell zone, but the overall movement of USDJPY is on a bullish ride. :chart_with_upwards_trend:
Shorting Opportunity:
- Key Level: 157.69
- What to Do: If you’re looking to short, watch for a Magic Candle Confirmation within the sell zone (red box). The ideal entry would be at 157.69.
Buying Opportunity:
- Key Pattern: Potential Head and Shoulders Formation
- Key Level: 157.69
- What to Do: Like me, if you’re waiting to buy, this is the level to watch. Wait for a Magic Candle Confirmation at 157.69 to enter a long position, betting on a Potential Head and Shoulders Formation.
Final Thoughts:
Whether you’re looking to short or buy, the key is patience and waiting for confirmation. Trading is all about making informed decisions and managing risk effectively.
What’s your plan for USDJPY? Are you in the short camp or the long camp? Share your thoughts and strategies below!
Happy trading, everyone!
GBPUSD Breakout and Bullish Shark Pattern!I hope you’re all doing well and staying sharp in the markets. I wanted to share an interesting setup I’ve been eyeing on GBPUSD that could be a great opportunity for both new and experienced traders alike.
What’s Happening?
- Weekly Chart:
- GBPUSD has finally broken out from its sideways consolidation, which is super exciting! This breakout could mean we’re in for some upward action.
The Plan:
On the 1-hourly chart, I’ve spotted a Bullish Shark Pattern. This pattern is a fantastic tool for identifying potential buying opportunities.
- Key Level: 1.2873
- What to Do: I’m waiting for a “Magic Candle Confirmation” at this level. This confirmation will give me the green light to enter a long position.
Why This Setup is Cool:
- Breakout: The breakout on the weekly chart signals a possible trend change, which is a big deal!
- Bullish Shark Pattern: This pattern helps us pinpoint a precise entry, making our trading plan more reliable.
How to Trade It:
1. Wait for Confirmation: Don’t rush! Wait for the Magic Candle to form at 1.2873.
2. Set Your Stop-Loss: Place it just below the pattern completion level to manage risk.
Final Thoughts:
Trading can be tricky, but by using patterns and waiting for confirmations, we can make more informed decisions. Keep learning and stay patient. Good things come to those who wait (and plan well)!
What do you think about this setup? Do you have any insights or questions? Drop a comment below and let’s discuss!
Happy trading, everyone! 🚀
Long Opportunities on EURUSDIf you are looking to long EURUSD just like me, the 4-hourly chart presents a promising Bullish Shark buying opportunity. Here's how we can approach it:
Bullish Shark Pattern:
- Pattern Completion Level: 1.0820
- Strategy: Wait for a Magic Candle Confirmation at 1.0820 before entering a long position.
- Stop-Loss: Place a stop-loss just below the pattern completion level.
Support and Resistance Level:
- Support Level: 1.0864
- Strategy: Look for a buying opportunity at this support level.
- Stop-Loss: Place a stop-loss just below the support.
- Target: Target 1 at Previous High.
Key Points:
- Bullish Shark Pattern: Provides a technical setup for a long position with a specific entry and confirmation point.
- Support and Resistance: Offers a simpler approach for traders looking for straightforward support and resistance trades.
- Risk Management: Ensure proper stop-loss placement to manage risk effectively.
- Confirmation: Always wait for the Magic Candle Confirmation before entering trades based on the Bullish Shark pattern.
These setups provide clear entry and exit points for long positions on EURUSD.
What’s your take on these strategies? Do you have other approaches that work for you?
Share your thoughts and strategies below!