I am currently short the EURAUD so I won't be taking this trade, but there is an advanced pattern near completion at a 127 ext @1.4750. This will yield the best risk to reward ratio but there is no promise that the pattern will complete or that it will hit targets before becoming invalid if it does. This is just an idea, food for thought. Trade carefully. Leave a comment!
I have been hedging this pair against the USDJPY for the past two weeks and have had a ton of success. I was stopped out of the AUDUSD for a small loss (massive win on USDJPY when it tanked) but was able to get back in on this MASSIVE pattern with a ridiculously awesome R/R. Nevertheless we are near the original completion point for this pattern, and due the the...
Currently short the USDJPY from 114.60 but have my stop loss placed above this bear flag set up for 100 pips of profit so far, looking for a break down back to the lows of consolidation on the higher time frames. This is a purely technical trade, fundamentally it would make more sense to be long the dollar.
Just shorted the AUDUSD @.7660, I've been eyeing the Bearish cypher pattern on the daily for a while and was actually short this pair but ended up stopping out for break even after the Fed's rate decision. Luckily I hedged the position against the USDJPY and made profit on that pair. So here we go again, hedging this position again the USDJPY this time!...
The EURJPY pair has been on an absolute rocket ship recently, looking at a potential opportunity to short here. An aggressive entry would be right at 123.40's, I like to wait for conformation from price action at advanced pattern completion points; however, this is just an idea, one should not trade this set up should they not have a trading plan specifically...
Opportunity for an aggressive entry with Bullish Cypher pattern on USDCAD ONLY if it fits your trading strategy, otherwise sit back and wait. That's what I'll be doing, waiting for my entry signal and desired R/R.
Bracketing AUDUSD, two Ghartley patterns setting up, bullish and bearish. My over all bias is short due to the break of previous structure to the downside. As always, you never know what will happen in the markets, but you can always do as much preparation as possible!
Been a long time since my last idea update, wish I had more time to post, but here it is! I caught this one a bit late short from .7093
Target is at .382 retracement of CD leg
Stop above 113.00 Ext. of AB
Shorting EURUSD here from 1.1192 to retest previous swing low on 1hr chart. RSI divergence, stop at a 1.13 ext of previous rally, lest see if structure holds and we can make it down to the Bat entry!
Looking at the USDCHF on the 4h, coming back up to retest previous structure that has been a major pivot point in the past. RSI divergence as of now,so it could turn here, or keep running, looking for a bit more confirmation before I pull the trigger.
I've been super busy the past few weeks and haven't been able to post ideas as frequently as I'd like, but ill use this time to update the progress of my EURJPY positions. Earlier this week I had an bearish Advanced Gartley hit targets on this pair and the GBPJPY (Cypher) which then set up the bearish Advanced Bat that I'm in now. Hopefully targets are hit before...
Not to long ago the USDCHF pair gave a nice pay of on a harmonic ABCD pattern and now we have another one, good ole cypher forming on the Daily chart with D leg completion @.9868. There has been a lot of news pushing the dollar higher lately so there's no telling what the outcome will be, but as always it never hurts to have a game plan!
Looks like D leg completion of a bullish bat pattern will complete at 101.88 on the usdjpy pair, no guarantees but it helps to be proactive and have a game-plan in case the market hits that level.
Looks like the USDCHF pair has formed an inside bar on the 1D chart. Target could be set at the completion of a possible ABCD pattern near the 1.272-1.414 fib ext, which is also near structure so one could also wait for bullish rebounding signals as well. Just my two cents though, any other suggestions feel free to comment.
This pair has presented so many setups across just about every time frame this week! ABCD pattern completions, head and shoulders, flags you name it. I see another possible ABCD completion here at structure, my 7 period RSI is oversold and we're up against resistance as well, so a slight (or major) rally may come soon. Still waiting on more confirmation from price...
