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Confluence

Dare to Go Against Trend ?? Yeah, GBPUSD, if my conditions MetThere are many traders out there who are anxious about going against the Trend, bcos they are unsure whether that works. Well, Today I got one scenario in GBPUSD where going against the trend can be profitable , only if market reverses in our marked Potential Reversal Zone. See how markets moved in Harmonic move thrice and yes, there is an ABCD pattern which I didn't mark for clear view of chart. Fib Confluence also happening in the zone and if Double Top forms there I will be going short in GBPUSD Check your Rules and Trade... Happy Trading ! Hit Likes for Agree which is boost for Me :)
Short
by InsiderB
EURUSD: MORE DOWNSIDE?Hi Trader, We have a 2618 setup forming here on EURUSD in the context of the longer term downtrend. I am particularly confident in this setup for a number of reasons. The early-week rally has been almost completely eliminated with yesterday's selloff. A valid 2618 setup has formed with the double top and close below neckline, confirming the potential for an upcoming move to the downside. The reversal zone comes in at previous structure, as shown on the chart with the blue circles and arrows. It also happens to line up well with the Fibonacci retracement from the highs at 1.13870. BE AWARE that the ECB Press Conference and Interest Rate decision is imminent in 4 hours. Price action is likely to be volatile around this event. Just something to be aware of if you are trading Euro tonight, don't get caught with your pants down! Entry: 1.13480 Stop:1.14020 Target 1: 1.12880 Target 2: 1.12610 Best of luck for the rest of the week and beyond, Luke
Short
by Beebags
Oil Looks To Regain Strength Amidst Fib ConfluenceOIL has been gradually regaining strength over the last few weeks. A weakening dollar is helping to make this push upward as the bulls regain strength. Here we had a .382 retracement of this new bullish leg which coincided with the .382 of the major bearish impulse leg. From here it looks as if the market is on it's way to retest the 41.87 level which is my target 1. Target 2 is at the next retest of structure and at the 1.13 extension of the bullish impulse leg. Target 3 is between the at the 1.272 extension and the .786 retracement of the major bearish move at 46.00
NYMEX:CL1!Long
by cheminacci
3
GBP.JPY - Bullish Bat Pattern - 155.835On the GBP.JPY 4 hour chart we have a potential long opportunity at the D leg completion of a Bat Pattern The price reversal zone on this pair is between 155.835 & 154.746 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Fibonacci Confluence: 88.60% - 161.80% - 141.40% AB=CD Completion: 156.806 RSI Bullish divergence Potential targets for the Bat Pattern placed at the .382% and .618% retracement of the A to D move. There is also opportunity to look for extended targets at around 162.300 Stop loss would be placed below X leg structure support. Website: www.UKForexSignals.com Instagram: www.Instagram.com Instagram: www.Instagram.com Twitter: www. Twitter.com/Tom_H_Official
Long
by UnknownUnicorn180388
11
NZD.USD - Bearish Cypher Pattern - 0.6938On the NZD.USD 15 min chart we have a potential short opportunity at the D leg completion of a bearish Cypher Pattern The price reversal zone on this pair is between 0.6938 & 0.6964 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Fibonacci Confluence: 78.60% - 127.20% & 141.40% Potential targets for the Cypher Pattern placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around 0.6848 Stop loss would be placed above X leg structure resistance Website: www.UKForexSignals.com Instagram: www.Instagram.com Instagram: www.Instagram.com Twitter: www.Twitter.com
Short
by UnknownUnicorn180388
7
EURUSD CONFLUENCEThere seems to be some good confluence at the price level of 1.1621, where there is a Fibonacci extension by 127.20%, (rebounding off a 61.8% retracement). A possible formation of the gartley pattern is also being shown. Finally some strong resistance at this point making it a great trade to enter. A short will be the most ideal, however, you could decide to go long in order to reach the 127.20% extension which shows a Risk-Reward ratio of 3+. NFP AWAITING - I believe the movement of EURUSD, is subject to the NFP and Unemployment rate that will come later in the day at 13:30 GMT
by gr419
EUR.CAD - Bearish Bat Pattern 1.4845On the EUR.CAD 1h chart we have a potential short opportunity at the D leg completion of a Bat Pattern The price reversal zone on this pair is between 1.4845 & 1.14873 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Fibonacci Confluence: 88.60% - 1.414% and 1.618% Potential targets for the Bat Pattern placed at the .382% and .618% retracement of the A to D move. There is also opportunity to look for extended targets at around 1.4626 Stop loss would be placed above X leg structure resistance. Website: www.UKForexSignals.com Instagram: www.Instagram.com Instagram: www.Instagram.com
Short
by UnknownUnicorn180388
2