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EURCHF Short - FlashcardEURCHF Short Direction: - PFH (Peak Formation High) established 3 days ago which started a Bearish Cycle. - Bearish Momentum is seen on the H4 as lower lows and lower highs are being formed. Entry: - Price point was held for multiple hours over two days, and no candle closed above this point. Multiple candles pinned this point, indicating the high was going to be kept and it was going to be the high of the day. Price action showed this high was not going to get broken. - 200 EMA acted as a resistance point for the high, giving me more confidence it was not going to break that point. Candles pinned that high and the 200 EMA. - M (Double Top) Pattern formed on the H1, which indicated a probable strong drop in the pair on the Bearish Cycle. - Shark-fin (RSI crossed back into the volatility bands) was seen on the H1 on the first leg of the M (Double Top) Pattern. Confirmation that price will most likely start to drop soon. - I entered on the M15 to get a precise entry once I saw the RSI cross the Signal Line on the H1. This was my entry. Exit: - 11 pip SL @ just above the high (just in case they pin it again). - 29 pip TP @ the point where RSI crosses back above the Signal Line. This was my exit.
Short
by FotiosDimitriou
8
NZD JPY - Long FlashcardNZD JPY - Long Flashcard - Bullish trend - Presented the same way as GJ (refer to previous flashcard) - Double bottom formation off of 200 ema - First leg presented with a RSI hook into the volatility bands - Second leg came for the same low and presented an entry with a break plus close above 13 ema and RSI volatility band cross - TP (could be at initial high of day but i moved stop to break even at that point) at RSI hook back into the volatility bands and cross signal line for 25 pips - A close above the 50 ema could have also been used here for entry
Long
by AbdullahDjendel
EURAUD Short - FlashcardEURAUD Short Direction: - Entered a Bearish Cycle on Tuesday (three days ago) on the H1, so I was looking to short off possible high points. - Just dropped to the first level of the cycle, so still needs to drop for minimum 1/2 more days. - On the H4 & H1 time-frame there is Bearish Momentum , as lower lows and lower highs are being made. Entry: - High held at YH (Yesterday's High), with the candles closing below that high and only pinning it. Price Action indicated that the high was not going to be broken. - MBL (Market Base Line) pointing down which confirms that the pair will most probably drop. - Candle dropped and closed below 13 & 200 EMA, which was another confirmation of a drop. This is where I entered on the M15. Exit: - 27 pip SL @ 7 pips above YH (Yesterday's High). My reason is that YH is a resistance point. - 47 pip TP @ the point where the RSI crosses the Signal Line. This indicates an exit on the trade.
Short
by FotiosDimitriou
GBP JPY - Long FlashcardGBP JPY - Long Flashcard - This pair presented with the same pattern as on the reversal more or less - Double bottom formation was formed off of the 200 ema - 15m divergence as a long signal - First leg of the formation had a RSI hook @32 back in the volatility bands - Second leg of the formation had a clean RSI vs Signal line cross as entry confirmation - Pattern presented as a double bottom on the H1 - Entry either at RSI Signal line cross or break plus close above 13 ema - TP 1 at initial high of day and TP 2 @ RSI vs Signal line cross under or RSI hook back into the volatility bands
Long
by AbdullahDjendel
GBPNZD Long - FlashcardGBPNZD Long Direction: - Held last weeks low on the H4 & H1. This price action indicated it was going to move from a Bearish Cycle to a Bullish Cycle. Furthermore, it was at the last level of a Bearish Cycle, so it was due to reverse. - Reversal Multi-Session W (Double Bottom) pattern on the 29th June indicated the new low of the cycle (Peak Formation Low, PFL). This gave me more confidence to long today. Entry: - W (Double Bottom) pattern formed on the M15 and H1. - Low was held for multiple hours during the day. This price action indicated the low was most likely not going to be broken, especially as they came back for it but then RR (railroad) tracked back up. - Shark-fin (RSI crossed back into the volatility bands) on the first leg of the Double Bottom pattern which confirmed price wanted to move back up. - MBL (Market Base Line) started to point upwards on the second leg of the Double Bottom pattern, which most likely confirms a rise in the pair. - Candle closed above the 13 EMA which confirmed my long entry on this pair. (This is where I entered). Exit: - SL @ 26 pips (7 pips below low of the day) - TP 1 @ 46 pips (just below YH) - TP 2 @ 81 pips (just below the 800 EMA). - Both YH (Yesterday's High) and the 800 EMA are resistance points that they may have bounced off.
Long
by FotiosDimitriou
GBP JPY - Long FlashcardGBP JPY - Long Flashcard (unless stated otherwise all trade indications are on the M15) Reversal into a long trend Long indicators: - Weekly low held for 3 days - Double bottom formation on the H1 - RSI hook outside volatility bands near 32 TDI - RSI (green) cross Signal line (red) cross entry confirmation - Double bottom formed near weekly low Take profit reasons: TP 1: Just below Yesterday high as this is a very safe target that is usually hit on reversals (45 pips) TP 2: Just below 800 ema since this is usually used as a point of resistance (80 pips) TP 3: Once RSI hooks back into the volatility bands or crosses back under signal line upon candle close (100 pip)
Long
by AbdullahDjendel
GBPAUD Long - FlashcardGBPAUD Long Direction: - Just started a Bullish Cycle a day prior, so I was only looking to go long. - Both higher time-frame, H1 & H4 MBL started to point upwards, indicating trend was Bullish. - Other GBP's, which are correlated, were also in a Bullish Cycle. - Divergence on the H1 from the reversal, indicating a change from a Bearish to Bullish Trend. Entry: - Low held for multiple hours, with candles pinning the low and not closing below. The price action indicated the day's low was not going to be broken. - I entered the trade once the candle went above the 13 EMA, as this showed a confirmation for a rise. - MBL (Market Base Line) was leaning upwards on the M15. Exit: - 26 pip SL @ 7 pips below day's low. - 38 pip TP 1 @ just below YH. - 57 pip TP 2 @ RSI cross over on the Signal Line.
Long
by FotiosDimitriou
EURGBP Short - FlashcardEURGBP Short Direction: - Approached the last level of a Bullish Cycle, so M (Double Top) formation pattern (or similar pattern that holds and indicates a high) expected to appear before reversing into a Bearish Cycle. Entry: - M (Double Top) formation pattern appeared. - Second leg of M formation crossed the 13 EMA, confirming the pair was going to drop. - Divergence shown indicated a drop. - RSI value was above 68 which means the pair was overbought, so it was due to short. - TDI MBL (Market Base Line) was above the 68 and pointing down, which also showed that price was possibly going to start dropping. Exit: - 26 pip SL @ 7 pips above high - 38 pip TP 1 @ just above 200 EMA - 71 pip TP 2 @ just above YL (Yesterday's Low)
Short
by FotiosDimitriou
5
GBPJPY Long - FlashcardGBPJPY Long Direction: - This pair was midway through a Bearish Cycle on the H1, however it was expected to reset and rise into a Bullish Cycle due to correlations with other pairs such as GBPUSD. - Low was held on the H1 for 3 days, so even if trend was going to continue being Bearish, a counter-trend would still give a considerable amount of pips for me if a pattern formed at the low. - After I caught this trade to TP 3, this pair entered a Bullish Cycle. Entry: - W (Double-Bottom) pattern formed at the low of the day. This low was held for over 90 minutes, so price action indicated it was not going to be broken. Additionally, the pins to that low indicated it was not going to get broken. - Shark-fin appeared on the pattern (RSI crossed back into the volatility bands), indicating a rise. - H1 MBL (Market Base-Line) on TDI was pointing up, indicating a rise. Exit: - SL @ 23 pips (just below YL), just in case they come to hit YL (Yesterday's Low) before rising. - TP 1 @ 50 pips (just below YH). - TP 2 @ 87 pips (just below 800 EMA), which may be a resistant point. - TP 3 @ 114 pips, when RSI crosses back over the Signal Line, which indicates an exit.
Long
by FotiosDimitriou
2
GBPUSD Long - FlashcardGBPUSD Long Direction: - The pair approached the end of a Bearish Cycle which may continue on the H4 time-frame, but on the H1 time-frame a reversal off bottom of level was due. - The pair was expected to enter a Bullish Cycle on the H1 time-frame now. - A multi-session W (Double-Bottom) pattern formed on the H1, giving us the direction, and also failed to take out YL (Yesterday's Low). Entry: - Divergence appeared at the point of entry. - Shark-fin occurred near entry, at the first point of divergence (RSI broke back into the volatility-bands). - YL (Yesterday's Low) was held, indicating price action was probably not going to break this point. - Inverse Head & Shoulders pattern on lower time-frame (M15), with the head point being my entry. - You could have compound traded at the point the candle closed above the 50 EMA, which indicated less chance of resistance being shown. Exit: - TP 1 was @ 200 EMA, which may be a resistance point. - TP 2 was @ YH, which may be another resistance point - SL was @ slightly below YL just in case they went to that price before shooting up.
Long
by FotiosDimitriou
12