TomProTrader

TomProTrader

Friends, Good shorting opportunity on the USDJPY here. This chart is very simple in nature, and I hope it show traders that even the most basic knowledge can give good and high probability trading set ups (If applied at the right times), you don't always have to use complicated analysis to make trading decisions. This is a lesson, and a very good short trading...

TomProTrader

Friends, We currently have a bullish shark pattern forming on the daily chart on Citigroup. The pattern will complete at 48.20's level, and expires at 47's level, the entry level for the shark pattern is confluent with structural support, increasing the integrity of this pattern. Citigroup is also currently in a area of historic support/resistance. This is an...

TomProTrader

Hello traders I took 204 pips out of the downside on my previous idea where I suggested shorting the NZDUSD a few days ago. But now it's time to look to buy to the upside and find long opportunity. There's a nice trade potentially forming for everyone to keep their eye on for the near future. As it stands, we have 2 harmonic patterns that have completed, we have...

TomProTrader

Hello traders, let's get right on, as there's a lot to take in here. As it stands, the downtrend has stalled at 1.618 extension (a good reversal point) of the original leg, which happens to be right into a strong demand zone (The red lengthy rectangle below shows the demand zone). So far the last few daily candles have been lingering around in this area, and it...

TomProTrader

Hello traders, and sorry it's been so long since my last publish, I've been on vacation. I have taken many pips from the GBPAUD recently, time to ride the pair to the downside again. GBPAUD looks as though it is bound to reverse. There is a long term hidden resistance line which has now been touched, when this happened the stochastic RSI is readying to put in...

TomProTrader

I've actually taken 85 pips today off the short signal generated in this pattern a few days ago, so now it's time to ride the pattern to the upside. So far the StochasticRSI has been extremely reliable in determining buy/sell signals in the current broadening ascending wedge pattern that has been forming over the last few days. A buy signal is forming on the...

TomProTrader

Broadening wedge found on EURCAD. Recently hit 1.618 of the fibonacci extension. It is also in a critically overbought condition on the stochasticRSI indicator. Certainly on a temporary level it's a good shorting opportunity, and obviously on the eventual breakout of the ascending broadening wedge there will be a high probability shorting opportunity also (if it...

TomProTrader

Somethings changing in the air for the EURJPY. We had 2 moves within this uptrend which confirmed to the red support line. In the first 2 blue boxes as drawn we have harmonic movements The first 2 moves did indeed hit their 2.00 extension while the third box has failed to make advances and it looks as though trend exhaustion is imminent. As it currently stands...

TomProTrader

Strong bearish continuation seen here on the daily chart of EURUSD. The bears really bringing this thing down the last few days, defeating the bulls and not taking any prisoners. This is heading right into a historical area of support, in fact a major support area that has been respected since late 2012. This latest move looks like it's going to be a one move...

TomProTrader

Bullish Gartley pattern completion at .786 retracement. The move between A and B and C and D are at this moment in time are of exactly the same length. they are harmonic with one another. Entry point also coincides with bullish divergence on the stochRSI. Stop loss just below the X leg of the pattern. I'm personally waiting for further confirmation before I place...

TomProTrader

GBPUSD nearing first challenge to break for continuation, nearing resistance which lines up with 38.2 fibonacci support. Stochastic/rsi is oversold. However ichimoku looks strong for trend continuation. No special candlestick pattern that suggests reversal is imminent. Bearish channel was also broken and did go into bearish continuation, it might bounce off the...

TomProTrader

Off of my previous idea, I think this trade is definitely going to show continuation to the downside, I'm hoping to see this in the long term hit the 61.8 fibonacci retracement, which lines up with some localised resistance

TomProTrader

Shorting opportunity forming on the GBPUSD. The stochastic RSI is severely overbought. I think this will be a good shorting opportunity especially if the 200EMA acts as resistance before the stock continues going to the downside.I wouldn't recommend entering this until the blue rectangle (drawn in the chart) has been hit. Good luck traders.

TomProTrader

Descending triangle forming, There's also a bearish channel forming inside the triangle, supporting bearish action. Entry on breakout at the bottom of the triangle. Recommended entry level shown below.

TomProTrader

20 EMA is still acting as resistance, opportunity to get in this trend continuation here. I'd expect a downside move to just before the 1.618 extension (15.00 psychological level near the 1.618 extension.) This would be a short term move, as the bigger picture is that this stock is definitely in the process of bottoming.

TomProTrader

Potential Descending triangle forming on CITIGROUP in line with recent resistance level. Entry on break of triangle AND nearby resistance for the move. Entry point showing. Good luck traders.

TomProTrader

Symmetrical triangle forming on GBPUSD. Don't usually cover short term time frames but I did like this trading opportunity. Take note the stochastic RSI is in a critically oversold condition.

TomProTrader

Bullish cypher pattern found on the GBPUSD. The 78.6 retrace lands right on the 127.2 extension confluence making this pattern very valid. Stop loss just below the XA leg. Sorry that I wrote bearish on the title, my mistake! This is a bullish cypher pattern forming. :P