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2618 Trade

Double Top with Break of Structure!Hey guys, the chart above is the 1hr chart on CHFJPY and i'm interested in shorting this pair since we're in a very high level and at a structure point. This means i can look for entry reasons on lower timeframes such as 1hr and 4hr chart. As you can see price has recently formed two tops followed by a break of structure to the downside, this gives us the condition for a 2618 trade. With stops above the highs, first target at the lows, second target to be determined. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
4
2618 on CHFJPYHey guys, the chart above is the 1hr chart on CHFJPY and i'm interested in shorting this pair since we're in a very high level and at a structure point. This means i can look for entry reasons on lower timeframes such as 1hr and 4hr chart. As you can see price has recently formed two tops followed by a break of structure to the downside, this gives us the condition for a 2618 trade. With stops above the highs, first target at the lows, second target to be determined. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
Follow-up on EURAUD trade! You can short with 2618!Hey guys, you can see my previous analysis on the attachment below. However, my intention with this pair is to short it, because price has reached the D completion point of a Daily Bat Pattern along with structure looking left and an oversold condition on the daily as well. I've already entered my short position and taken the first partial profit. So now i'm waiting to see a further continuation to the downside. In any case, if you're not involved yet in this trading setup there's now another chance to take the short side according to the 2618 strategy, that consists on selling the 618 retracement of a broken double top. First target would go at the test of the lows, second target possibly with the first target of the big Bat pattern. If you wan to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Follow-up on EURAUD trade! You can short with 2618!Hey guys, you can see my previous analysis on the attachment below. However, my intention with this pair is to short it, because price has reached the D completion point of a Daily Bat Pattern along with structure looking left and an oversold condition on the daily as well. I've already entered my short position and taken the first partial profit. So now i'm waiting to see a further continuation to the downside. In any case, if you're not involved yet in this trading setup there's now another chance to take the short side according to the 2618 strategy, that consists on selling the 618 retracement of a broken double top. First target would go at the test of the lows, second target possibly with the first target of the big Bat pattern. If you wan to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
AUDUSD 2618 / Bearish Bat We have had a 2618 happen which was my initial reason for entry. this also tied with a possible completion of a abcd pattern at previous highs which gives us the 1.618 fib extension at a monthly key level. When I was looking at the Daily time frame we have had our impulse leg down, 50% fib and also a strong 618 retracement from the recent push upwards. All of this again gives further confluence with the 886 level right at the previous daily highs and Key level
Long
by Wonour
2618 on EURJPY!!Hi guys, Yen pairs lately have been very bearish, keep creating lower lows and lower highs. In cases like this we only want to get involved in a bearish trade, like this one. Price is up to retest a previous level of 4H structure and it's finding difficulties breaking through. You can see it tried to break twice and failed, thus creating a double top: the most interesting part though is the break of structure to the downside that somehow confirms our bearish bias. So you can use, according to the 2618 strategy, the 618 retracement of the impulse that broke the neckline. Stops above the highs, targets as illustrated above. If you have any question, or you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2618 on EURJPYHi guys, Yen pairs lately have been very bearish, keep creating lower lows and lower highs. In cases like this we only want to get involved in a bearish trade, like this one. Price is up to retest a previous level of 4H structure and it's finding difficulties breaking through. You can see it tried to break twice and failed, thus creating a double top: the most interesting part though is the break of structure to the downside that somehow confirms our bearish bias. So you can use, according to the 2618 strategy, the 618 retracement of the impulse that broke the neckline. Stops above the highs, targets as illustrated above. If you have any question, or you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1