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Trade Ideas Educator: EURJPY GartleyUsually, this is a setup I won't be interested, but this round, I had even placed a pending order for this trade. So let's start with why not. 1) Point C touches A, not a good sign and very much look like a retest of support and it does have repetition. 2) It is a counter-trend setup based on this timeframe. 3) Do not provide a healthy reward:risk base on this timeframe Now, the reasons for me to engage this trade and the trade, and already placed my pending order. 1) EURJPY daily chart is on a bearish trend and it's merely a retest or the high, target1 has not officially reached yet. 2) There is an obvious break and close below the support based on the daily chart, after the Point D completion. 3) Is trend trading based on the daily timeframe 4) Trade based on special strategy, it provides a fantastic Reward:Risk. For more information, check the link on my signature at point (3)
Short
by RaynLim
2
Trade Ideas Educator: NZDJPY SharkA bearish shark pattern for a trend trading opportunity, this setup is almost perfect but a consolidation after a strong bullish uptrend bring a concern to this setup. Hence, I will not be placing a pending order, but rather look into the candle formation to see if this is a valid setup for me. An extension of this setup AB=CD movement fills the gap that is shown on the daily chart, which may just provide a better setup for a shorting opportunity.
Short
by RaynLim
Trade Ideas Educator: EURJPY GartleyA beaish gartley has completed for a trend trading setup. All turn to short for this pair as this level is a retracement of 61.8% after a double top after completion of a bearish bat pattern on the daily chart and not to mention a final target profit on the 4-hourly chart of a bullish bat. If you have observed closely, there is this small hump that I call appear throughout the 3 timeframes that I trade, this create a resistance for the market to process higher. Once market open I might just engage for an aggressive short or wait for a retest, it all depends if the market gap up or down. Well, you can stop the guessing game by joining our community, TIP, link at my signature.
Short
by RaynLim
Trade Ideas Analysis: USDJPY Ascending TriangleAn interesting development of this trade, yes indeed is quite troubling when you have 100pips of running profit and the market just stall and fail to break new high, nothing is more painful when you see magic candles form after a bullish candle. My immediate thought is to close and take the profit, spend it on Xmas and call it a year, but wait up... It does look familiar, yes, ascending triangle, another breakout(towards the upside) setup. Always sit back relax and use APE. Analyse the market, Plan your trade and Execute your order.
Long
by RaynLim
Trade Ideas Educator: AUDCAD SharkThe red lines that cut across the chart is the 4-hourly chart inverted descending triangle, not a typical setup I will trade for a breakout but surely a great reward: risk trading opportunity. So, if you going to sell, where will be an even better price to engage the trade? I head into 1 timeframe lower, the 1-hourly chart and spotted a potential bearish shark formation. It surely provides a better reward: risk but if it doesn't happen, I will wait for a break below and close below of the support line(red horizontal line) follow by a retracement to short the market. What's your trade plan?
Short
by RaynLim