Two possible setups with 1.618 confluent with entry zone.
Bearish Harmonic Setup
I see a Bearish Opportunity here. We have Price Action making higher highs with the RSI making lower highs (Bearish Divergence). Price action hit Resistance at prior Structure Levels and we also have a 1.272 fib inversion at that level. I like this setup!
Sometimes you have to keep it simple. Continuation Trade coming down into structure with bullish price action. RR 1:1
Looking at the 4H and D charts we can see this pair is in a Bullish Trend. With this in mind, i'm looking for a potential entry to the upside. Here we have a prior consolidation zone acting as possible Support. We also have some Fib Confluence at this level with the .786 and .886 retracement. As well as the 1.272 and 1.414 extensions.
Looks like this pair could come down and test a Major Support Level @112.500 (last touched June 14 2017). Not only is this a Major Support Level but it is also a Psychological Level . We also have some Confluence with the 1.414 Extension as well. R:R 1.65 and 2.57
Looking at possible entries for AUD/CAD. Possible bullish move to .382 retracement which is hanging around the psychological number 1.0 or a break through 1.0 and touch .618 retracement.
Two opportunities i took on the EUR/USD. First trade was a double top with RSI Divergence. The second was a .618 retracement from the initial move down, predicting the market will retest support levels. Risk reward is good with possible 100+ pip gain. Anybody traded this opportunity?
Trend continuation trade to previous structure. I believe price will come down to test psychological level .72. This level also has a 1.618 extension. IF price reaches this level, this may be an area to go long as well. R:R 3.46
Oversold RSI at Previous Structure R:R 1.63 TP at .618 Retracement
This is a what if idea! IF prices can retrace to our killzone around the .38-.50 retracement, we could possibly see a bullish breakout of consolidation. *Keep in mind GBP/USD is at a psychological level (1.3000). Entry: ~1.29928 TP1: 1.30801 TP2: 1.3169 Stop Loss: 1.29289 R:R (1.4) at TP1 (2.3) at TP2
This seems to be a setup with crazy R:R. Willing to risk 30 pips for 90 pips on the upside. Not gonna bore you with the exact numbers on this minor pair but i definitely would say take a look for a possible trade! As always tell me what are your thoughts! Happy Trading!
Sellers are coming in selling at the .618 retracement (87.928) Looking to short for about 47 pips. R:R is decent. Stop Loss: 88.322 Take Profits: 87.442 Risk/Reward: 1.18 Please implement your own due diligence prior to entering the market! May the Pips be with you!
I'm looking at Fib Confluence at the .618 Retracement and 1.618 Extension. As you can see there is also some Bullish Support to go along with an Oversold RSI that may give this trade some steam. Give me your thoughts! Entry: ~.73454 TP1: ~.73871 TP2: ~.74420 R:R 1.14