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Pricepattern

EURUSD Convergence sell for a higher probability trade set up EURUSD overnight set the stage for a high probability sell on the higher time frames. Although EURUSD has been in a uptrend of late we had a few factors that led us to believe we could see EURUSD move lower. These factors include the following. 1. We were looking at the 1.2000 big figure level for a while as this level in general could be a strong psychological level for price to respect. Also we can feel that there would be a higher buildup of order flow resting at this level which again could increase the probability for price to reject here lower. 2. What really caught our attention was the larger bearish 3 drive pattern that can be seen even on a Daily chart. The more participants in the market that can see the same structure the more the probability can increase for traders to take action when the pattern completes, especially the case when the pattern is seen on your higher time frames. 3. Convergence of factors - In trading, no one knows with 100% certainty where price will go next so as traders we have a responsibility to do our best analysis as possible to increase a potential profitable outcome. In this case both of the 2 factors above occurred at around the same point on the chart so when we saw price start to reject lower this opened the door for a sell. After the pattern completed, we always want to use a lower trend line (in the case for a sell, higher trend line in the case of a buy opportunity) and wait for this to break to the downside as this will help increase the strength of the pattern holding and also give you a precise point on your chart to execute an order. Stop loss can go just above the 3rd drive high.
by DavidVillagra
4
Gold - Potential selling opportunity setup Taking a look at the 1 Hour chart on Gold, it has gone through a sharp drop since breaking its record highs above the $2000 level. Currently now the price in Gold has pulled back higher from its sharp recent fall and is trading in an ascending channel. This Channel has completed a potential larger 3 drive bearish pattern in the process. Why we like this pattern is that it has convergences at the 3rd drive high which also lines up with the 61.8% Fibonacci retracement. This current high is starting to look like there is a bit of price exhaustion just below the $2000 level as well. What we want to see is price start to breakdown on our lower time frames and locate any smaller bearish price patterns in the process to help confirm a possible move lower. We have also drawn a lower trend line as this can also increase the probability for a move lower and expose a good point of execution if this trend line gets broken to the downside for a possible retest entry short. If the price in Gold starts to continue its rise and trades above the pattern and $2000 level no action needs to be taken.
OANDA:XAUUSDShort
by DavidVillagra
Gold - Can it get to $2000 ? Using price to help your accuracy Gold on the higher time frames has been in an ascending channel after its parabolic rise of late. Many traders are hoping for it to get the the $2000 mark which can make for exciting times for the yellow metal but as traders we shouldn't get caught up in the emotion of this occurrence. It's easy to jump into a move too early especially when we have a bias for any financial instrument we are looking to trade, but its this euphoria that can cause a lot of damage to traders because they don't want to be wrong and they stay in a trade with their heart and shut off their head telling them that they should get out. Only once the trade has ended do we clearly see the signs. So with this said, we have been watching Gold very closely of late and tried to do a number of things that can help your probability. Once we know the general direction and structure of the current market environment we can go down to our lower time frames like the 15 Minute chart to see the price action up close, because its the lower time frames that can really help with your accuracy. Accuracy is very important because even if your wrong you wont have to throw a lot of pips away in the process to see if your analysis was right. Also the lower time frames can really help you see smaller price patterns that the higher time frames sometimes can't. As you can see from the chart, price made its way down to the previous lows and rejected higher creating a triple bottom structure. What we liked about this area was in the way price got there because price also formed a bullish 3 drive pattern on its way down to the triple bottom low showing a pattern within a pattern with both indicating continuation to the upside you can see on the higher time frames. When trading, the more signals we can see lining up together the greater the conviction that price can go in that direction and in this case we saw price continue in its uptrend for a manageable profitable trading opportunity.
OANDA:XAUUSD
by DavidVillagra
GOLD buy trade setup using price action, how far can it go???It has been said ever since people were allowed to trade to "trade with the trend" and "the trend is your friend". Although there is logic to this the market unfortunately doesn't always trend and in fact spends most of its time in ranges and channels. The market environment changes all the time and it's why so many traders struggle with their trading because they do not understand what market environment they're currently in. Price action traders can have an advantage in this regard because they want to see the structure that the price action has laid out as the leading indicator of where price could potentially go next. As you can see from the 15 Minute chart on Gold, it has been in roughly a $22.00 range for around the last 2 weeks. Although it has been in a longer term uptrend in general, using ranges can help you a lot to work out a higher potential level to enter, while also managing your downside risk. What we can see is a bullish head & shoulders pattern complete right at the lows of the range which can be seen on the higher time frames, why we like the position of this specific price pattern is because, not only is it pointing to the right side of the larger trend direction which can enable you to jump in on the move. You also get a location that if you are wrong then your stop loss can be placed just below the pattern which also would also lie under the range floor so you can manage smaller risk on this trade. If you missed this setup then by being patient, price ends up showing you another opportunity with the same bullish head & shoulder pattern that completes just after the initial drive higher from the lows. When trading any price pattern you should always wait for it to complete first without jumping in too early, but it's the higher inner trend line that we like to use (in the case of a bullish pattern) as our entry point as this can help show more strength in the pattern while also precisely showing you where to enter on the top side retest marked with green arrows. Even if price doesn't continue in the longer term trend, you can initially target the top of the range and potentially scale out a percentage of your trade to lock in some profits. We will be keeping a close eye on Gold and watch for any pullbacks that can allow for another bullish price pattern to form potentially indicating another opportunity for a manageable trade.
OANDA:XAUUSDEducation
by DavidVillagra
GBPJPY Range Trading Techniques A lot has been said in the past about trading with the trend and of course when the market is trending your probability should increase when doing so. The reality of course that the market spends most of its time in ranges and when this occurs finding trends can be tough. In saying that, trading ranges can sometimes be easier to navigate the price action as the market is made up majority of channels and ranges, so when one is upon us we can grasp the structure of price more clearly. Taking a look at the recent price action on GBPJPY, price had been in a range which is made up of smaller channels in its total structure. Knowing this can be very helpful for when price gets to one extreme or the other, either the highs or the lows to look for clear and concise patterns that can show you price wants to now target the other side of the channel. As you can see from the 15 Minute chart in the last week alone, every time price has fallen it has formed a base at the lows between the 134.00 big figure and 134.15 level. These bases have all created the same bullish pattern which is a 3 drive pattern that can help give us clear information on where price wants to go next. Once each of these patterns complete, all we have to do is be patient and draw an higher inner diagonal trend line and wait for this to break to the upside. By doing this it helps increase the patterns integrity and also can indicated clearly where to enter the market and also you can place a tight stop just under the 3rd and final drive of the pattern.
Education
by DavidVillagra
GOLD buying opportunity trade setupTaking a look at the price action on Gold, we saw a high probability trade setup for a potential buying opportunity. We saw many factors all lining up together which always helps increase the probability for you as a trader to get a good idea what direction price could go next. As you can see from the 30 Minute chart, we saw Gold in a descending channel until it completed a larger bullish 3 drive pattern right at a previous level of support. What increased the strength of this level was that a smaller bullish 3 drive pattern also completed right at the same point. What we needed to do now was wait to see if price would bounce to the upside from this point which occurred nicely and so with this information we can go down to our lower time frames and find a local inner trend line just above the lows and wait for this to break to the upside which will help pin point a precise entry level for the potential long trade. For trade management, we can place our stop loss just below the 3rd and final drive while also looking to target the top side of the channel.
OANDA:XAUUSDEducation
by DavidVillagra
QQQ - Bearish Rising Wedge - Ready to DropThe case for the bearish rising wedge strengthened today as a bearish hammer has now formed off of the upper channel of the rising wedge. This market has been very strong as of late but the overhead resistance, rising wedge, and now bearish hammer should not be discounted. I think risk is to the downside right now (higher probability) unless price as able to push above this rising wedge (lower probability). To learn more about my trading strategies check out www.tradingwithkrugman.com
NASDAQ:QQQShort
by krugman87
5
FEDERALBNK - Bullish Trend Expected to reach at 96.9 FEDERALBNK - Bullish Trend, Monthly - Previous bearish Trend - Monthly Stop Loss 75.70 - It is downtrend for short time, right now it is at resistance level ~ 84.95 - The expected target is about 110 price Weekly - Downtrend channel of about 17 pips - Expected to cross at 85, if weekly close is above 85 then it is BUY - The next immediate target is at 105.5, with the strict stop loss @ 75.7 - Risk : 8.7, Rewards : 21.1 R:R => 2.42:1 - Ideally you shall wait to cross 85 on weekly chat and then enter Daily : - Previous uptrend - Short descending triangle at 78 to 83.6 - The immediate target is ~96.9 with stop loss is at 84 - the R:R => 3:1 Resistance Levels - 96.90 - 105.5 - 122.5 Weekly Pivot Points : - 87.77 - 90.28 - 94.77
BSE:FEDERALBNK
by avinashsawant
AUDUSD : Prepare for POSSIBLE SHORT-1500+ plus PIPS Movement!This is a Re-post-As 1st Chart the Short (SL & TP) Position was put in reversed. Actutal Trade is done vis OANDA account - FYI We make analyse from Price Action / Price Pattern , S/R lines & Trend Lines EXPECTING a BIG PRICE Movement Down..IF analyse is on target !! > 1. For AUDUSD approaching Trendline S/R formed since 2002. Remember TRADING is never 100% accurate.. >2. With analytics, we however FAVOUR a Break downwards of 1500+ PIPS to the low of 2012 zone . ENTRY will be via H4 / H1 – viz Pull Back BAR OR P RICE ACTION Confirmation ( Bear BAR etc!) >3. OBSERVE PRICE ACTION !!. Do a Counter Trend IF Market shows otherwise !! A: SUMMARY – We will be preparing for a SHORT position ONCE PRICE breaks ZONE of 0.7160 to 0.70170. TARGET TP is a Possible 1500+ PIPS Move @ 0.5510 MONTHLY Chart : Down TREND / WEDGE . Price Heading towards 2002 S/R Line > See CHART : WEEKLY Chart : Price BREAKING Congestion that was in place for last 8 weeks. Now PRICE is also at/near Weekly S/R !! > See CHART : B: This Coming/Next WEEK Analysis: - GET ready, position for a SHORT when PRICE breaks ZONE of 0.7160 to 0.70170. Then RIDE the SHORT Position for a BIG GAIN approx. 1,500+ POSSIBLE PIPS PRICE ACTION to TP target can take 4-7 months. SO RIDE OUT !! 1- ENTRY via PRICE ACTION watch . Viz H4 entry pull back to Support/TREND line. 2- OR Strong Price ACTION Signal , Big Bear Candle etc.. BE Nimble, as it might not reverse to Support-Trend line Before Trending down !! LETS have a GOOD SHORT AUDUSD -0.84% . TARGET Profit 1,5000+ PIPS RUN !! 3- 2nd POSSIBLE TP TARGET IF TREND HOLDS is at @ 0.5510 CHEERS .. Stay Nimble-TRADE SAFE !! Let the Market Do, WHAT’S It suppose to do !! Act & Trigger as and when Market Dictate, ie your SHORT ENTRY !!
by jeffreyysl
AUDUSD : Prepare for POSSIBLE SHORT-1500+ plus PIPS Movement lWe make analyse from Price Action / Price Pattern , S/R lines & Trend Lines EXPECTING a BIG PRICE Movement Down..IF analyse is on target !! >1. For AUDUSD approaching Trendline S/R formed since 2002 . Remember TRADING is never 100% accurate.. >2. With analytics , we however FAVOUR a Break downwards of 1500+ PIPS to the low of 2012 zone . ENTRY will be via H4 / H1 – viz Pull BAR OR PRICE ACTION Confirmation ( Bear BAR etc!) >3. OBSERVE PRICE ACTION !!. Do a Counter Trend IF Market shows otherwise !! A: SUMMARY – We will be preparing for a SHORT position ONCE PRICE breaks ZONE of 0.7160 to 0.70170. TARGET TP is a Possible 1500+ PIPS Move @ 0.5510 MONTHLY Chart : Down TREND / WEDGE . Price Heading towards 2002 S/R Line > See CHART : WEEKLY Chart : Price BREAKING Congestion that was in place for last 8 weeks. Now PRICE is also at/near Weekly S/R !! > See CHART : B: This Coming/Next WEEK Analysis: - GET ready, position for a SHORT whenPRICE breaks ZONE of 0.7160 to 0.70170. RIDE the SHORT Position for a BIG GAIN approx. 1,500+ POSSIBLE PIPS PRICE ACTION to TP target can take 4-7 months. SO RIDE OUT !! 1- ENTRY via PRICE ACTION watch. Viz H4 entry pull back to Support/TREND line. 2- OR Strong Price ACTION Signal , Big Bear Candle etc.. BE Nimble, as it might not reverse to Support-Trend line Before Trending down !! LETS have a GOOD SHORT AUDUSD . TARGET Profit 1,5000+ PIPS RUN !! 3-2nd POSSIBLE TP TARGET IF TREND HOLDS is at @ 0.5510 CHEERS .. Stay Nimble-TRADE SAFE !! Let the Market Do, WHAT’S It suppose to do !! Act & Trigger as and when Market Dictate, ie your SHORT ENTRY !!
by jeffreyysl
EURUSD: Prepare for POSSIBLE SHORT 900+ PIPS PROFITS We make analyse from Price Action / Price Pattern , S/R lines & Trend Lines A: SUMMARY – We will be preparing for a SHORT position ONCE PRICE breaks 1.1530. TARGET TP is a Possible 900+ PIPS Move @1.0570 MONTHLY Chart : Down Channel within a Bigger WEDGE > See CHART : WEEKLY Chart : We can spot a Head and shoulder Pattern. And price is at/near neckline. > See CHART : DAILY CHART : Down Trending!! With Price at Consolidation phase for last 2 months !! MAJOR move DOWNWARDS is expected . And we FAVOUR wait for a SHORT !! > See CHART : B: This Coming/Next WEEK Analysis: - GET ready, position for a SHORT when PRICE breaks 1.1530 RIDE the SHORT Position for a BIG GAIN approx. 900+ POSSIBLE PIPS 1- ENTRY via PRICE ACTION watch. Viz H4 entry pull back to Support/TREND line. 2- OR Strong Price ACTION Signal , Big Bear Candle etc.. BE Nimble, as it might not reverse to Support-Trend line Before Trending down !! LETS have a GOOD SHORT EURUSD . TARGET Profit 900+ PIPS RUN !! 3-2nd POSSIBLE TP TARGET IF TREND HOLDS is at 0.9595 CHEERS .. Stay Nimble-TRADE SAFE !! Let the Market Do, WHAT’S It suppose to do !! Act & Trigger as and when Market Dictate, ie your SHORT ENTRY !!
by jeffreyysl
GBPCHF : SHORTED as in CHART-DAILY Chart Downward Channel We make analyse from Price Action / Price Pattern , S/R lines & Trend Lines. A: SUMMARY – We have taken a SHORT position as of chart. TP is at ZONE 1.28189 !!. DAILY CHART : Down Channel. Bearish Bar yesterday, Price near S/R. We believe it will break through !! > see Day Chart : B: This Coming/Next WEEK Analysis: - RIDE the SHORT Position 1- Those not in yet await H4/H1 entry pull back. WATCH for CANDLE Signal Bar / Watch for a PULL BACK, to our Downward CHANNEL !! LETS have a GOOD SHORT GBPCHF . TARGET Profit 190 PIPS !! CHEERS .. Stay Nimble-TRADE SAFE !! Let the Market Do, WHAT’S It suppose to do !! Act & Trigger as and when Market Dictate, ie your SHORT ENTRY !!
by jeffreyysl