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Sidewaybounce

USDJPY-Weekly Market Analysis-May22,Wk2USDJPY has lots of interesting trading opportunity. Start off with the 1st zone of the staircase formation. The Green Zone(1st Zone) you can wait for shorting opportunity at the top of the box and buying opportunity at the bottom of the box. The second chance to engage the trade is when the market retest the trendline but fail to break and close below it. The third chance entry for trend traders would be the Bullish Shark Pattern setup that completes at 124.30. Which setup do you prefer? Comment down below and tell us why.
Long
by RaynLim
USDJPY-Weekly Market Analysis-Mar22,Wk2On 3Mar22, I've posted the Type2 Bearish Shark Trading Opportunity. In that post, I named the movement Shark Tank. You can see the movement of 103pips has been made. Interestingly, the market stops and respects the level that I've plotted. This is not by chance but by having a solid foundation in chart analysis. (You can check the Related Ideas within the TradingView post) There is a possibility to earn the 103pips movement by reversing the trade. I will wait for a double bottom with RSI Divergence on the 1-hourly chart before engaging the trade. Any idea why that is important? Comment down below.
Long
by RaynLim
GBPUSD-Weekly Market Analysis-Oct21,Wk5On the daily chart, GBPUSD has a Bearish Channel, that's great news for trend traders and trend following traders. For Counter-Trend traders, the 1-hourly chart has a pretty good setup for a buying opportunity. If you have seen my video analysis, you would have known that I prefer to apply my sideway bounce trading strategy on GBPUSD over EURUSD and 1 of the many reasons is that it has a less trending nature than EURUSD. Buying Opportunity at 1.3742 and Selling Opportunity at 1.3832.
Long
by RaynLim
EURUSD-Weekly Market Analysis-Oct21,Wk5On the daily chart, EURUSD has broken and closed below the support. However, the 1-hourly chart, it presents a different view. There are 2 potential development over here 1) A sideway bounce setup that gives selling opportunity on the red line and buying opportunity on the blue line 43pips opportunity on the 1-hourly chart is not too bad. 2) If the candle breaks and closes above 1.1666, then a Bullish Flag Pattern would complete. However, it is a rather weak Flag Pattern caused by the retracement move on the 1st move. What intrigue me is the completion of the assumed Flag Pattern ends before the Key Resistance Level at 1.1683. Let's see how this trade pans out.
Long
by RaynLim
GBPJPY - Bearish Bat on Sideway BounceA bearish Bat Pattern appears on the 4-hourly sideway bounce formation. I've almost missed this trade as there's a gap down with a different candle on Point C that's painted on my Live Trading Account on my MT4. It is a good practice to cross-check your charts on Monday especially when there is a gap, these are good practices of a trader. I've engaged the trade as the trading setup gives a very tight stop with a great profit projection.
Short
by RaynLim
USDJPY-Weekly Market Analysis-Dec20,Wk2USDJPY has moved from symmetrical triangle(link at bottom) to sideway bounce setup. The two ends of it, resistance level at 104.69 and support level at 103.72 will be the area of my interest to engage trading opportunity within the box. The major restrain comes in at 104.20 which happen to be the midpoint of the 2 levels. The RSI overbought(shorting opportunity) and oversold(buying opportunity) will be an important filter for the trading opportunity.
by RaynLim
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