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2618 Trade

EURUSD potential 2618 trade setup on 4H chartWe are already in the killzone to buy here at market prices. The orignal idea and setup was to buy at the 61.8 which would have been the aggressive option. But looking at the sharp reversal from recent highs, particulary visible on the weekly and daily chart I would suggest a more conservative entry here. It was worth the waiting as we have blown way past the 61.8% retracement. Right now we have a splendid risk/reward profile and I would be a buyer if we get a double bottom on the hourly time frame and then a higher high higher close candle. I expect this will lower the R/R but at least it leaves one more comfortable. On the other hand, those who reduce their stops after a double bottom could increase their R/R instead.
Long
by PHL
Trend continuation 2618 on GBPCHFHi guys, here we have a nice 2618 on a trend continuation setup, You can see we broke to the downside the last support level (black line) and now we are retesting it. We know that when broken, support could turn into resistance. In addition price is finding some troubles at this level. We have a double top with rsi divergence that's been broken to the downside. So we have ultra confiirmation of our analysis. Now we can exploit the market using the 2618 strategy. I'm going to sell the market if and when price will reach .618 level, stops above the highest high, first target at a retest. Second target down along with structure. Let's see. If you have any question, please fill the comment section below. Otherwise, see you in the next chart!
Short
by Roker1
Aother 2618 on AUDNZDHi traders, this setup is similar to the USDJPY's one. We are testing a resistance level (blue line) and we created a double bottom with rsi divergence and then we broke that to the upside, giving us reason to believe in a change of trend. So we wait for a .618 retracement of the impulse leg that broke the double bottom and then we buy the market. First target at the retest, with roughly a 1:1 RR, and second target for a bigger move to the upside. If you have any comment, please do underneath. Otherwise, see you in the next chart!
Long
by Roker1
2618 trade on USDJPYHi traders, here on USDJPY we just broke above an important daily structure level, the next level would be near to 114 flat. With that being the case, i want to be involved only in buying opportunities; recently in 1hr chart we had a good double bottom and after that price broke that to the upside, signaling also in this timeframe a bullish tendency. A 2618 is a technique developed by Jason Stapleton used after a double top or bottom broke to the upside or downside. After the broke we are going to wait for a .618 retracement in order to hop on the trend. Stops below lower low, first target at the retest of the highest close, second target for the long run. If you have any comment, please do underneath. Otherwise, see you in the next chart.
Long
by Roker1
Potential 2618 Trade Taking ShapeA double bottom appears to be forming on the EURUSD, which has the potential to set up a 2618 trade should the bullish candlestick close above the previous outside return before retracing to the .618 of leg AB. This technical setup will, inevitably, face heavy headwinds with regards to fundamental outlook on USD strength. This trade is currently forming in a consolidation zone on EURUSD, so my question is... will this be the break we're looking for?
Long
by MattSzwyd