SharkbaitAl

SharkbaitAl Updated 

I will be watching to see if it forms this pattern. Timewise it could be expected to happen around where I have the completion points in the chart -- I am setting an alarm to wake up and check it out around that time. Please keep in mind I am a novice trader and these are not trading signals, I am just sharing what I see. Let me know what you think.

SharkbaitAl

EURUSD may form a bigger correction before a larger drop but I am viewing this a chance to get in short with a small risk and valid pattern. The targets shown in the chart are tentative and if the price action is bearish I will just trail stops and hold for lower targets. If I get stopped out I will be trying again when the next opportunity presents itself. Good luck.

SharkbaitAl Updated 

It is risky but it is a very nice R:R. The target zone is a confluence of a bullish shark completion, an AB=CD pattern completion, the 50% retracement of the larger bullish move, as well as an area with some previous structure as a cherry on top. I will definitely be interested in longing from this area should the opportunity present itself. (Note: the shark...

SharkbaitAl Updated 

The price actually came .1 pips away fro, the entry point (GC contract). After a large bullish run it appears to me gold is starting to slow down. I am looking for a chance to enter short based on price action in the 1230-1237 range. I will do my best to update when I have entered. Good luck!

SharkbaitAl

It seems copper couldn't break out of the longer term sideways consolidation and has now broken the uptrend line and is forming nice bearish flags. This looks to me like it will be another good trade upon the breakout of the trendline if it also meets certain other criteria (like impulse on the lower time frames and no bullish impulses before then). If you have a...

SharkbaitAl Updated 

I missed my entry on the past idea (linked below) as I was hoping to get in from the top of the potential Cypher rather than using the AB=CD for my entry. Oh well. Here is a 2618 set-up after the double top it formed last week. It is also the completion of the faux AB=CD patterns shown on the chart . It seems to me a good place to short. I would love to hear...

SharkbaitAl Updated 

Everything is pretty much shown in the chart. I have heard Natural Gas is hard to technically analyze but in my limited experience patterns seem to work pretty well. ---If price continues to the top trendline, I will look to see if it forms in 3 waves. If so, I will be more confident this is a triangle and will look to long around the E point (perhaps right...

SharkbaitAl Updated 

Not a great risk:reward and current price action has been bullish but it seems price is facing selling pressure here. Good luck!

SharkbaitAl Updated 

This idea is to short AUD/USD based on the AB=CD pattern and retracement to .618 level. The first target is the .618 retracement of the AB=CD pattern (I will move stops to breakeven after the .382 target) The second target is the -0.27 of the AB=CD move. Alternatively you can trail stops and try and get in on a larger down move... The dollar has been...

SharkbaitAl

I am looking to enter a short on Palladium in the near future for the completion of the AB=CD pattern shown on the chart. Today has been an extremely bullish day although it seems like it may have finally taken a breather around 782. I will likely be looking for entries on lower time frames which correspond with this longer time frame idea once I have seen...

SharkbaitAl Updated 

I am looking forward to seeing how this idea/trade pans out. If today's bearish momentum continues but slows I will be looking to buy within the zone designated by the rectangle on the chart. This zone is: Completion of Bullish AB=CD pattern Structure to the left If crude oil makes it to the completion point RSI will likely be oversold On the longer time...

SharkbaitAl Updated 

At the top of what I believe is a higher time-frame correction on gold may not be an ideal place to long but if there are no warning signs in the price action at the entry point I will take this trade. Additional confluences such as oversold RSI will be an added confirmation for an entry. **I am waiting for a break of the lower yellow trendline as a confirmation...

SharkbaitAl Updated 

There appeared to be a great rejection of this level on the 1H chart but the next hour it was bought back up which I am viewing as a warning sign there might be some more upside. I am personally going to let price action confirm a rejection of this level again before entering but this appears to be a valid AB=CD set-up and even has RSI near overbought as an...

SharkbaitAl Updated 

Early this morning Natural Gas broke the trendline and has begun to consolidate. Thus I am short-term bearish on Natural Gas and looking for sell set-ups. I usually stay off of the 15 minute for trade ideas but as this is coherent with my short term analysis for this pair I will look to take this trade. The bearish AB=CD pattern may complete around the .5...

SharkbaitAl Updated 

There are several confluences for this trade which are shown in the chart. I think this is a worthwhile opportunity but since I missed the ideal entry here I am going to be patient and watch for a better entry. I will post an update when/if I have entered. This is not meant to be a trading signal so please do not use it as one -- I still have very much to learn...

SharkbaitAl Updated 

This is a very similar view/scenario to my DXY chart published earlier today. The pattern has technically not completed so I am ready for some more down and I will be careful to watch for warning signs (bearish price action-- impulsive candles, bearish pinbars, etc.) before entering. I plan to update this on the smaller time frames (1h and 15 min) when I see...

SharkbaitAl Updated 

I previously shorted wheat 1 pip from the top and it was a very nice trade (although I closed too early around 3.99 or so). Price bounced from the .382 fib of the larger up move but the price action in the current area looks weak. I am looking to re-open shorts at the levels in the chart but only if no warning signs are present -- big bullish candles, oversold RSI...

SharkbaitAl Updated 

Safer stops would be 1198.6 and still give a good risk/reward trade but this may do. I have already entered a short at 1188.50 (GCG7). Let's see what happens