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Countertrend

MATIC/USDT - LONG IDEA MATIC/USDT - LONG IDEA The Market has moved into the Buy Zone off the Daily Timeframe and forming a nice up channel which acts as Support and Resistance moving towards our Target of 1.822. A Gartley has just been fulfilled off the 4 hour timeframe which normally could signify the new low price for us buy the market on our way up to our daily target 1.822. We have found that there's a inner up channel trendline and a outer trendline , the question would be will the Market reverse now or will the market want to test the outer trendline which also acts as a Support Level as well. Trade : TP : 1.822 SL : 1.195
MLong
by MartinSturks
TEZOS (XTZUSD)- LONG IDEA TEZOS (XTZUSD)- LONG IDEA Tezos has broke into our Buy Zone Area off the Daily Timeframe we are now looking for low prices to Buy up towards our Daily Target of 4.3566. We have established an up trend/channel and looking to buy the counter trend break towards our Target 4.3566. Path 1 : If the channel holds then we could see the Market reversing off that support trendline towards our Target of 4.3566 . Path 2: If the trendline fails we have seen a strong Support Level below the trendline which could start the reversal to the upside towards our Target of 4.3566 . Take Profit : 4.3566 Stop Loss : 2.3736
XLong
by MartinSturks
AUD/USD Outlook (6 April 2022)Following the RBA rate decision and statement, the AUD/USD rose significantly towards 0.7650 This move was driven by the Reserve Bank of Australia's rate statement indicating possibility of earlier rate increases possibly in May (previously expected towards the end of the year) Overnight FOMC members commented - balance sheet reduction soon and 'at a rapid pace' (Brainard) - accommodative policy has to be removed, 50 basis points will be option to consider (George) This resulted in the US Dollar strengthening, retracing the AUD/USD from resistance zone 0.7650 Counter trend opportunity would be to sell the AUD/USD if price continues to move towards support zone of 0.7500
Short
by JinDao_Tai
LONG IDEA - EURJPY LONG IDEA - EURJPY Based off the Monthly Timeframe we have moved into the Buy Zone and now looking to Buy the market . If the Analysis holds true we anticipate the market push Bullish towards our daily Target of 145.733. The previous resistance could potentially become the new support round about 133.138 area . We as see a strong support level between 127.892 - 128.433 which the market could Potentially come back to and rally towards our Target of 145.733. TP 1 - 141.131 TP 2 - 145.733 SL - 121.425
Long
by MartinSturks
Long Idea GBP/JPYLong Idea GBP/JPY: Based on our Analysis we see a Strong Up Channel based off the Daily time frame Making HH and HL we anticipate a pull back and then a further push to the upside to our 3 Take Profit Areas highlighted . TP1 : 169.067 TP 2 : 170.467 (Monthly Take Profit) TP 3 : 174.707 SL : 147.034 If the market does a Deeper retrenchment to our second entry point highlighted round about 152.337 our Take profit analysis will stop at TP 2 : 170.467 (Monthly Take Profit) we will then anticipate a Larger than normal retracement.
Long
by MartinSturks
AUDCAD - Bearish Shark CheckbackIf you had read my previous analysis, this is how Shark Pattern works, when the Shark Pattern hit its stop loss, it may present you another trading opportunity of a further entry price. The problem with most trader is the hesitance to engage the trade, and I can understand that, you just got stop out. You aren't certain if this should be the trade to take. The Shark Pattern could present as much as 3 entry price to engage the same trade. It is common that a trader can feel distraught when they get stop-out 3 times within the same trade. But once you get comfortable with the Shark Pattern, it brings you more profits and losses in the long run. What I love about this Bearish Shark Pattern is that this is the last possibility of the Shark Pattern on this setup. I got stung out on the previous Shark Pattern, but luckily for me the Stop-Loss is only 39pips. Well, that's possible because of my background on structure trading for the past 17years. What about you? Are you comfortable tading the Shark Pattern?
Short
by RaynLim
2
CADJPY - Bearish SharkCADJPY has been giving us an amazing trading experience. Once again, another Bearish Shark Pattern has formed up. What's different from this setup is that the 4-hourly candle has broken and closed above X. This is something that you shouldn't treat lightly. You can head to the lower timeframe and wait for a Double Top setup with RSI Divergence on the 1hourly chart. That should significantly reduce your initial stop-loss providing and reward of up to 5x.
Short
by RaynLim
CADJPY - Bullish SharkBefore I talk about the Bullish Shark, I like to talk about the Bearish Shark Pattern(check out the related ideas posted within TradingView). That trade's target one has been attained{90.44} a total of 192pips captured, and its first target provides a 2.74 reward: risk ratio. The market has to break and close below 89.81 will significantly increase the odds of the 2nd target being hit. I will be shifting target2 further to 88.80, giving a 4:1 ratio to its risk profit. If you have not engaged in the trade, do not chase the market. I will then reverse the trade by counter-trend trading it as I engage the Bullish Shark setup.
Long
by RaynLim
EURJPY - 5-0PatternA Bullish 5-0 Pattern complete on the Weekly Chart. If you had engaged the Bearish Shark Pattern I've shared last year, you would have gained a total of 848pips by just waiting for it to hit the profit level. Trading the Shark Pattern isn't an easy task as it can have up to 3 different entry zone, which means when you get stopped out the 1st time, you should engage the 2nd and 3rd times as long as formed up in those areas. But if you did short this, you would have gained a total of 848pips. 5-0 Pattern is much easier as it has only 1 entry zone and 1 profit level. You only need to wait for candle confirmation to trade back up to the profit level. I will be waiting for a double bottom setup with RSI Divergence on a lower timeframe to take advantage of the setup.
Long
by RaynLim
GBPUSD-Weekly Market Analysis-Mar22,Wk2We have a Bullish Deep Gartley on the Daily Chart. There are 3 things that I'm not comfortable with this Deep Gartley Pattern are: 1) A retest at Point C 2) Consolidation right before the Gartley Pattern completion. 3) Strong Bearish Candle as the Terminal Bar of the Harmonic Pattern. However, what's comforting to see is that the Weekly Support Zone(1.3220~1.31402) coincide with the Deep Gartley Pattern completion. What you can look out for is a Double Bottom with RSI Divergence that can strengthen the bullish movement of this trading setup.
Long
by RaynLim