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2618 Trade

GBPUSD2618 setup is completed in H4. Price has overshoot 61.8% level and touched 78.6% level (which is a better price to enter). Having said that, of course, there is a risk that price may just continued to fall and take out the lows of the double bottom. Another confluence for this trade is the buying opportunity here is in line with my earlier idea (see link below) - bullish cypher pattern in the daily chart. It is within the buying zone. I'm going to play this as a 2618 trade with tighter stop loss, compared to the cypher stop loss placement.
Long
by Casey_Yeo
12
Double Top Trade on GBPNZD M15 - Intraday Trade Double Top Trade on GBPNZD M15 - Intraday Trade The very first trade idea...so go easy on me guys. This here is a Perfectly executed 2618 Trade. Double top confirmed, price broke neckline, price rallied back up to 61.8 Fibonacci retracement of the swing low triggering the trade at 1.96387 (spread included) with 1:1 R:R... Trade Plan: Stops placed 10pips from the first leg's highest high...T1 currently 26 pips from the entry point at previous structure support @ 1.96103. We'll bring down the stops to breakeven when price hits T1 @ 1.96103 and trail the stops further down below should the price reach T2 at Structure Support @ 1.95840. If not, then Stops will get hit @ breakeven...obviously.
Short
by Fx.Trader
AUDUSD - 2618 trade setupI'm not quite sure if I missed this trade setup for a 2618 opportunity after the double bottom with divergence. Price missed the 61.8 retracement level for literally 1 pip and went straight up. As price already retraced from the last move to the upside, I'm not quite sure if it's a good idea to enter when it hits (IF it does) the 61.8 level. Maybe if you have any thoughts on this particular setup, please comment, because I'm having serious doubts about taking this, I think I already missed it or on the other hand, maybe it's not valid anymore because it didn't touch the 61.8 level and it had a retracement from the last swing up.
Long
by Daniel.Dalo
USDJPY - Bearish Cypher and 2618 long setup2618 TRADE SETUP: * Wait for price to break the resistance near 101.800 and then wait for the 61.8 retracement to get long. Cypher: * Be aware of how far price goes before retracing to the 61.8 level, as it may complete a Cypher pattern, in which we would have an opportunity to go short from there and then take the 2618 setup to go long. If price completes the 2618 setup, we could go long from there and then take the Cypher completion as a short entry. Either way, there are two great setups if you (like myself) missed the double bottom opportunity :-)
by Daniel.Dalo