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[Counter-Trend on Dollar-Yen]
� This week, I'm keeping a keen eye on a counter-trend trading opportunity for USDJPY. I'm patiently waiting for a potential shorting opportunity at the Key Resistance Level of 142.96.
⚠️ However, it's important to... more[Counter-Trend on Dollar-Yen]
� This week, I'm keeping a keen eye on a counter-trend trading opportunity for USDJPY. I'm patiently waiting for a potential shorting opportunity at the Key Resistance Level of 142.96.
⚠️ However, it's important to note that despite this shorting opportunity, my overall bias remains bullish on the US Dollar. This week appears to be a retracement week in the market.
Stay tuned as we navigate through market movements and identify potential trading setups. Let's make the most of this retracement period! ��
#USDJPY #CounterTrendTrading #ShortingOpportunity #RetracementWeek #StayTuned
Live chart:
https://www.tradingview.com/chart/USDJPY/Do6TnUmE-Counter-Trend-on-USDJPY/ />
Redeem Free Training by clicking the Pin Messages in the Traders Cafe Chat�
https://discord.gg/AKDr9vPqH7
#USDJPY #keyresistance #countertrend #candlestickpattern #candlestickanalysis #supportandresistance #ForexAnalysis #TradingOpportunities #TradePlan #CounterTrendTrading #ShortingOpportunity #RetracementWeek #StayTuned less
https://vimeo.com/843680721
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[Most Traders Lose Money because of this...]
Look at the higher timeframe(right), on the Weekly chart, and have your focus on the retest of the previous high. Not only it fails to close above the previous high, but it also has an RSI Divergence. On the... more[Most Traders Lose Money because of this...]
Look at the higher timeframe(right), on the Weekly chart, and have your focus on the retest of the previous high. Not only it fails to close above the previous high, but it also has an RSI Divergence. On the bigger picture, EURUSD is on a Bearish Move.
I'm not saying you can't make money if you have bought EURUSD, but you shouldn't stretch your target when you are counter-trend trading and you won't know that if you didn't get the trend right.
On the lower timeframe, the 4-hourly chart, Trend Traders could wait for a retest of the Key Resistance Level at 1.0912 and wait for a Magic Candle Confirmation to engage the trade.
Counter-Trend Traders could wait for the completion of the Bullish Shark Pattern, followed by a Magic Candle Confirmation at 1.0707 before heading for a buying opportunity.
What's your trade plan for the week? Comment down below.
Live chart:
https://www.tradingview.com/chart/EURUSD/rDgNU9rs-This-is-why-Most-Traders-Lose-Money/ />
Redeem Free Training by clicking the Pin Messages in the Traders Cafe Chat
https://discord.gg/AKDr9vPqH7
#EURUSD #keyresistance #trendtrading #bullishshark #sharkpatterns #countertrend #supportandresistance #support #resistance #countertrend #candlestickanalysis #candlestickpattern less
https://vimeo.com/839489573
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The simplest-looking analysis often is the toughest to plot. I'm waiting for shorting opportunity as early as the market open.
One thing to take note, make sure the market didn't gap up and close higher than 1.2311 for this to be a valid trading... moreThe simplest-looking analysis often is the toughest to plot. I'm waiting for shorting opportunity as early as the market open.
One thing to take note, make sure the market didn't gap up and close higher than 1.2311 for this to be a valid trading idea.
An RSI Divergence did help to give me the push to look for a shorting opportunity on the 1-hourly chart that coincides with the Daily Chart key resistance level.
Live chart:
https://www.tradingview.com/chart/GBPUSD/IievzxtP-GBPUSD-Weekly-Market-Analysis-Dec22-Wk1/ />
#GBPUSD #countertrend #keyresistance #resistance #supportandresistance #candlestickanalysis #candlestickpattern less
https://vimeo.com/777831658
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It's amazing that for more than a week, the market trial along the tip of the ascending channel; shows that the market has hesitance to break and close above the channel.
That is excellent news, as I plan to short the GBPUSD off the Weekly Resistance... moreIt's amazing that for more than a week, the market trial along the tip of the ascending channel; shows that the market has hesitance to break and close above the channel.
That is excellent news, as I plan to short the GBPUSD off the Weekly Resistance Level. You could check the related ideas within the tradingview post for my lower timeframe strategy.
If a break and close above the parallel channel happens, I will wait for a candlestick pattern confirmation at 1.2572 for a Bearish Butterfly Pattern. The harmonic pattern has the potential to form within the next consolidation zone, which is great for extension patterns like the Butterfly Patterns.
Live chart:
https://www.tradingview.com/chart/GBPUSD/d0nGtR8m-GBPUSD-Weekly-Market-Analysis-Nov22-Wk4/ />
#GBPUSD #trendtrading #bearishbutterfly #butterflypattern #KeyResistance #resistancelevel #harmonicpatterns #candlestickanalysis #candlestickpattern #supportandresistance #ascendingchannel #parallelchannels less
https://vimeo.com/772783874
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EURUSD sits within the resistance zone of the weekly chart, the long week had created an additional resistance level on the daily chart; even a break and close above 1.0485 happens, we have the Bearish Crab Pattern where we can catch the bearish move at... moreEURUSD sits within the resistance zone of the weekly chart, the long week had created an additional resistance level on the daily chart; even a break and close above 1.0485 happens, we have the Bearish Crab Pattern where we can catch the bearish move at 1.0597.
Live chart:
https://www.tradingview.com/chart/EURUSD/2TmoOeka-EURUSD-Weekly-Market-Analysis-Nov22-Wk4/ />
#EURUSD #bearishcrab #keyresistance #crabpatterns #supportandresistance #candlestickanalysis #candlestickpattern #harmonicpatterns less
https://vimeo.com/772782887
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GBPUSD is approaching the Weekly Chart's Key Resistance Level that completes at 1.1872. What's nice about this setup is that a potential ABCD Pattern completes at that level, and that, gives a combo trading opportunity.
Live chart:
... moreGBPUSD is approaching the Weekly Chart's Key Resistance Level that completes at 1.1872. What's nice about this setup is that a potential ABCD Pattern completes at that level, and that, gives a combo trading opportunity.
Live chart:
https://www.tradingview.com/chart/GBPUSD/86v3LB0w-GBPUSD-Weekly-Market-Analysis-Nov22-Wk3/ />
#GBPUSD #trendtrading #bearishABCD #abcdpattern #KeyResistance #resistancelevel #harmonicpatterns #candlestickanalysis #candlestickpattern #supportandresistance less
GBPUSD has a completed Bearish Shark Pattern, which does not necessarily mean you have missed the trade. You could wait for a retest of the Shark Pattern at 1.1388
Live chart:
https://www.tradingview.com/chart/GBPUSD/07qAGlYd-GBPUSD-Weekly-Market-Analysis
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EURUSD is currently retesting the Weekly Key Resistance Level, 1.0352. I will wait for a Double Top set at that level before engaging in the trade.
That means Tuesday would be the earliest time to be involved in this trade.
Live chart:
... moreEURUSD is currently retesting the Weekly Key Resistance Level, 1.0352. I will wait for a Double Top set at that level before engaging in the trade.
That means Tuesday would be the earliest time to be involved in this trade.
Live chart:
https://www.tradingview.com/chart/EURUSD/qcQCnbLl-EURUSD-Weekly-Market-Analysis-Nov22-Wk3/ />
#EURUSD #keyresistance #supportandresistance #candlestickanalysis #candlestickpattern #resistancepattern less
I am still bearish on EURUSD, I'm waiting for a Bearish Deep Gartley Pattern completion at 0.9958. I'm aware that a lot of traders are waiting for bullish opportunities on both EURUSD and GBPUSD, but I don't see any recovery soon.
Live chart:
https://www.
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Last Friday, I shared this analysis in Tradingview; the comment I received is lovely yet scary. The reader felt that the Bat Pattern had completed and seemed like he had engaged in the trade. Oh nooo!!
First of all, no matter who the analyst was, never... moreLast Friday, I shared this analysis in Tradingview; the comment I received is lovely yet scary. The reader felt that the Bat Pattern had completed and seemed like he had engaged in the trade. Oh nooo!!
First of all, no matter who the analyst was, never follow their trading ideas blindly. Secondly, for the Bearish Bat Pattern to be valid, the market has to touch the furthest end of the PRZ; in this example, it's at 1.1251 and touches the opposite end of the PRZ for it to be valid.
Engaged in advance of the pattern completion can risk riding on an invalid setup or put yourself at a major disadvantage when you enter too early.
Some of the obvious disadvantages is a lopsided Reward is to Risk; you risk more and earn lesser than other traders who engaged in the same trade. While others can shift their stop-loss to entry, you could only reduce your risk.
With that said, in this bearish setup, my analysis remains unchanged.
Live chart:
https://www.tradingview.com/chart/GBPUSD/tovzJiWx-GBPUSD-Weekly-Market-Analysis-Oct22-Wk1/ />
#GBPUSD #bearishbat #batpattern #trendtrading #keyresistance #sellzone #supplyzone #candlestickanalysis #candlestickpattern #harmonicpatterns #supportandresistance less
Last Friday, I shared this analysis in Tradingview; the comment I received is lovely yet scary. The reader felt that the Bat Pattern had completed and seemed like he had engaged in the trade. Oh nooo!!
First of all, no matter who the analyst was, never fo
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