Price returned to a HTF Sell Zone. Clear M15 reversal pattern.
Price pulled back to the Weekly Bearish Orderblock. Price gave signature reversal trapping pattern on M15 trapping most retail traders long. TP targets are where the lowest levels of retail stop losses will be located which is where the Smart Money will bank their profits.
Stop hunted past buy side liquidity (BSL), took a short down to the nearest SSL.
Price cleared buy-side liquidity (BSL) and returned to a D1 bearish orderblock. Price will move down and hunt for the highest level of sell-side liquidity (SSL) as depicted by the take profit below.
Bullish Wolfe Wave identified on AUDJPY Buy Stop Order @ 74.740 SL: 74.50 (23 pips) TP: 76.50 (175 pips) Very good risk:reward ratio trade
Wolfe Wave Identified on the 4h Chart. A solid break of the ascending support followed by a retest should lead to a nice trade following.
This is an aggressive entry into a swing long for USDJPY, a more conservative entry would wait on the close of Monday / Tuesday's Candle above the extended trendline formed by waves 1 & 3. The risk to reward on this trade is very good. Let's see what happens.
In 2 hours the 4h candle should close forming a bullish engulfing candlestick, this is typical price action observed following a bearish trend which we have seen, expecting price to push upwards towards the EPA. First TP is 115 pips Nice Risk to Reward on this trade After the 4h close I'll be placing a buy stop if the highlighted entry price hasn't been breached
I've shorted Gold from the top, looking to target the 23.6% fib where I'll take 50% of my profits. From this point, I'll observe to see if there's any signs of bullish reversals, if there is I'll hedge my short position with a long position of equal size and set my SL on my short position to breakeven. I'm anticipating the formation of a Wolfe wave after the...
Just my 2 cents on what will happen over the next few weeks! Trade with caution and never risk more than 3% of your account! Best of luck