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2618 Trade

Bull and Bear Opportunity On AUDCADYou have two potential opportunities setting up on the AUDCAD. First there is a potential bullish 2618 setup that will complete at .97391. Now the double bottom was put in at a major daily structure level, so keep your eyes on this if price comes back down. Then you have a potential bearish cypher pattern that will complete at .98636. Since AUDCAD has been in this sideways movement for awhile, this cypher pattern is one that could be a very nice opportunity. As always, follow your plan. Good luck and good trading.
by tommyb35
EURUSD, A potential 2618 after a 4hr shooter breakoutEURUSD, actually all the non-USD currencies got hit after the FED annoucement, which may pretty much change the uptrend for them. While in terms of intra-day trade, there are still opportunities to take a shot for a short-term trade. Most of the time, inside bars are only applicable for trend continuation trade for me , while there are a few exceptions like a huge risk event or it's very extended. So I was already willing to long the inside 4hr breakout as a 8-EMA correction trade; and if it's able to finish the double bottom, it can create another intra-day long opportunity. The cue, "close above 1.1903 in hourly chart" is not that easy to happen, while if it did, this 2618 trade is a great confirmation entry for the 4hr shooter breakout. Again, I am a trend follower most of the time, while if there is some huge price movement, I don't mind to take some counter-trend trade with acceptable risk. I am not really bullish on EURUSD in larger frame including the fundamentals and policy changes, but a intra-day long is not really that crazy and I will execute the risk-reward stop in a very cautious manner.
Long
by Trader_Joe_Lee
2
CMG Potential double bottom, for risk lovers.In terms of fundamental analysis , even the most junior finance department student will suggest to avoid CMG 0.80% stock as its crazy P/E and looks like such a falling knife. While higher risk makes higher return , and it did give a potential long opportunity. In weekly chart, right here is the 0.618 retracement of the rally from 2008, and a daily double bottom is about to be formed. My game plan is to wait for the double bottom to be confirmed ( close above 323 on daily chart ), And put a buy limit at the 0.618 retracement of the neckline breakout. Let's see how it goes!!
NYSE:CMGLong
by Trader_Joe_Lee
2
Potential H1 2618 setting up on CableOverall I'm looking for some relief on this pair given the recent rally. One potential opportunity to get involved on the short side of this pair could be a 2618 trade entry as shown on the chart. Definitely not the cleanest double top here, but matched with the bearish RSI divergence could be setting up a nice 2618 short. If price can come back up into that 61.8% retracement then I would be looking to sell for multiple targets. Initially, target 1 would be a retest of the break below close below of the double top, but will also be interested in holding the second half of the position even lower towards the 38.2% & 61.8% levels of the recent move to the upside. Let's see whether or not this plays out over the coming days!
Short
by bmck1
EURUSD 1HR - the importance of structure ----ABCD- 2618Had a very nice conversation about this pair with one of my clients last night and wanted to share this morning now that not much has changed overnight. There are 2 setups on this chart one was a double bottom which can now potentially turn into a 2618 opportunity at MINOR structure & the second is a potential AB=CB pattern with fibonacci confluence that can potentially complete at major structure. The conversation had yesterday was about how to determine when structure was "Major" vs. "Minor" & how that may affect our trading decisions. Personally i prefer to look my trading opportunities at major structure as it allows me to be more aggressive with my approach due to the risk reward that is often gained there. Plus we all no that "good moves don't last long" However that doesn't mean that you can't look for trading opportunities at minor structure as well. You certainly can, it just may be worth taking a more cautious approach & waiting for extra confirmation before pulling the trigger. Well, it's almost 7am, time to double check stops and targets before the today's Monetary policy. A more hawkish than expected tone would work perfectly with my current positions. GOOD LUCK TODAY TRADERS, HAVE A GREAT TRADING DAY!! See you this weekend with another video... Or maybe today, you never know Akil
Long
by Akil_Stokes
23
NZDJPY - BEARISH TREND TRADING OPPORTUNITY The 3rd pair looked at in today's video featured a bearish trend trading opportunity. After a beautiful higher time frame 2618 completion the NZDJPY has been in a free for all since trading right below 84's. After the recent extension it has now created a rising channel back into previous structure. The technical killzone to start looking for shorting opportunities is from 79.10's to 80.60's but a smaller zone starting at 79.50's is what stands out to me. This isn't a pair that's in my trading portfolio so i won't be trading it, but we'll certainly keeping an eye on it this week as many of the traders that I work with do. Akil "Everton Looked Horrible Today"
Short
by Akil_Stokes
8
GBPUSD Hourly, 2618 setup (LONG)Its been a while since I entered with this setup, but this one had a case with historical support and resistance area coinciding with the 2618. A clear double bottom, right at the level. With a break to the upside (break of the "v" point of the double bottom) followed by a 0.618 retracement - and here we already see some reaction. Targetting retest of the previous high followed by a 0.618 retracement of the larger bearish leg - which coincide with 1.286 round number. Stop loss below previous lows
Long
by timmynorin