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Countertrend

Unveiling the GemsSideway patterns, often labeled as losers or deemed non-tradable periods by some, invite differing opinions and perceptions. It ultimately rests upon the individual trader to discern their potential. As for me, I perceive them as a treasure trove of trading opportunities waiting to be explored. Why, you may ask? It's quite simple - all I need to do is sell at the high, known as resistance, or buy at the low, known as support. However, before plunging into these trades, I exercise caution and adhere to a meticulous approach. My aim is to ensure that my final target yields a profit factor of at least 2, and that a minimum profit potential of 50 pips awaits me before I engage in any trade. On the right, a fascinating Bearish Bat Pattern is currently unfolding, tantalizingly close to completion at 0.6361. Meanwhile, on the left, the support and resistance trade strategy beckons with its own allure. Now, the question arises: Which of these enticing trading setups resonates with you? Join me as we explore the path less traveled and unlock the potential hidden within these captivating patterns.
Short
by RaynLim
The Oldest Pair I've TradedDo you still remember those unforgettable moments when I first embarked on my trading journey with GBPJPY? It holds a special place in my heart as the very first pair I traded, and I stuck with it through the ups and downs until the spread for GBPJPY skyrocketed to 14 pips for an extended period. Oh, the memories! Presently, GBPJPY finds itself in a captivating sideways movement, offering ample opportunities for those employing the support and resistance trading strategy. It's a perfect scenario for executing the age-old principle of buying low and selling high, or even exploring the realm of harmonic patterns. Personally, I'm eagerly awaiting the completion of a bearish shark pattern at 173.23, signaling a potential shorting opportunity that aligns with my analysis. Alternatively, you can choose to navigate the daily chart's defined zone, indicated by the red resistance line at 172.05 and the blue support line at 167.48. Within this trading range lies an enticing profit potential of 457 pips just waiting to be tapped into. Join me as we delve into the timeless allure of GBPJPY and unleash the vast possibilities it holds for traders like us.
Short
by RaynLim
It's NO SECRET, I'm shorting AdidasIt's no secret that I've been looking to short Adidas for weeks before the Bearish Bat Pattern show up. As a trader, I love to wait for the precise price with candlesticks confirmation before engaging my trade; hence I miss the first opportunity. And that's ok! In trading, I have this philosophy that is better to miss a trade than to engage in a trade at a price of disadvantage. So here I am, trading for the past 18 years. At this moment, I'm waiting for the Bearish Shark Pattern to form up on the 8 range bar chart to give me a second chance entry to get on this ride.
XETR:ADSShort
by RaynLim
$BTCUSD counter trend structure completion in next few daysNOT FINANCIAL ADVICE Structure is forming a very nice counter trending zigzag (5-3-5) formation; wave (4) aka waves ABC. Currently wave C underway, and we're expecting further impulsive waves to the downside, coupled with some strong divergence signal. If signal is found AND price touches the region between $25.8k to $26.2k, then we can safely say waves ABC, aka wave (4) achieved. Until then, we play the waiting game and continue to be patient. This publish is an update to this previous publish that promoted the rally as a bear-market-rally:
BITSTAMP:BTCUSD
by googooboyy
How to Trade the Dollar Both WaysUS Dollar has been in focus recently due to several factors such as debt limit concerns and bank failures. However, my analysis indicates that the Dollar is still bullish and I'm looking for a buying opportunity at 133.75, provided that the support level holds. For those who are seeking shorting opportunities, the red trendline could be a potential entry point. As long as the structure remains unbroken, a shorting trade could be considered, with the first target at 133.75. Whether you're bullish or bearish on the Dollar, there are opportunities to trade it both ways. Stay tuned for further updates
Long
by RaynLim
GBPJPY - Potential Reversal TradeHey Traders! Today we're taking a look at a bearish trading opportunity on the GBPJPY. At heart this trade is a structure-based reversal trade but as you'll see in the video, to find our entries we're actually taking a continuation trade type of approach. - More reasons to throw out the names "continuation" & "counter-trend" Anyway, I hope you guys enjoy & if you have any questions or comments please leave them below. Your Trading Coach - Akil
Short
by Akil_Stokes
2
Why News Headlines Can Be MisleadingIn recent times, we have been bombarded with headlines such as "Dollar Slide", "US Debt Ceiling Closing", "US Bank Failure", "19 Countries show interest in joining the BRICS". While these news items may give the impression of a weakening US Dollar, it is important to take a closer look at the chart. Contrary to these headlines, the US Dollar is actually appreciating! Smart traders know it is important to analyse chart patterns and not rely solely on news headlines. For trend traders, a buying opportunity could arise when the market retraces and sits on the blue trendline. Meanwhile, counter-trend traders may need to adopt an aggressive approach by waiting for the 3-bar reversal to appear within the red box for a potential counter-trend trading move. Remember, don't be misled by news headlines, always analyse the chart and make informed trading decisions.
Long
by RaynLim
Profit in Both Bull and Bear MarketsThe EURUSD demonstrates a clear bullish trend based on the current market conditions. As a result, trend traders may seek to capitalize on potential buying opportunities at the support level of 1.0967. Conversely, counter-trend traders may be interested in shorting the currency pair at the resistance level of 1.1035-1.1044 while placing initial stop-loss orders above 1.1067 to minimise risk. With a well-defined plan, traders can confidently approach the market from either direction and potentially reap substantial profits.
Long
by RaynLim
$BTC and its bear market rally.It's a bear market rally. But first, where are we in CRYPTOCAP:BTC 's wave cycles? Cycle wave V underway, cycle wave IV completed. With these wave counts, we can validate that we have already seen the bottom. Rejoice! Looking deeper into its primary wave counts and its fractals.. Ongoing: Primary wave ① > Intermediate wave (4) > Minor wave ⓑ I slant towards these wave counts as I see strong and clear counter-trending wave movements. Counter-trending waves tend to fluctuate (violent moves) and can play out in deep triangles. But we are also yet to see clear structure forming. In the coming days and weeks zig-zags, double-threes or even triple-threes formations can play out. In the meantime, I see testing $30k as a good probability. For now though, a clear signal that the bottom for counter-trend wave (4) structure would be a break of FWB:27K support. While I'm really looking forward to its completion, I dread the news that will bring us there. >.<
BITSTAMP:BTCUSD
by googooboyy
Seize the Day: Aggressive Traders Can Short GBPAUD with 5-0Despite the current bullish trend in GBPAUD, the market is showing signs of a potential shorting opportunity on the 5-0 pattern, with the 3-bar reversal pattern. This presents a unique trading opportunity for aggressive traders to engage in a short-term trade at 1.8577, with a stop loss set above 1.8605 and an appropriate buffer. What's even more enticing about this setup is when executed correctly, this trade could yield a profit factor of 2, making it a potentially lucrative opportunity for savvy traders looking to capitalize on market movements.
Short
by RaynLim
DOLLAR CRASH!? NOPE! NOT NOW!!If you are on the Media, you would have heard that the DOLLAR is CRASHING, countries are ANTI-US DOLLAR, etc, etc... I don't see any crashes happening on the chart. It is important for independent traders like ourselves, not to get swayed by the news headline; see it for yourself. What I'm seeing right now, saddens me more than the crashes; the market is going into the consolidation phase. How do I know that? A series of Bat Patterns, that's it. The market reflects on what market participants felt. If you are looking for shorting opportunity, you are in luck. On Daily Chart(left), Bearish Bat Patterns completing at 136.96 and on the 1-hourly Chart, we have the Bearish Crab Pattern completing at 132.54 and Bearish Bat Pattern completing at 132.87.
Short
by RaynLim
EURO-DOLLAR, Counter-Trend Opp.EURO-DOLLAR has a Counter-Trend Trading Opportunity(left). Traders looking for a counter-trend trading opportunity could wait for the market to retest to 1.0975 for a shorting opportunity. This is possible not because of the Bearish Shark Pattern Trading Opportunity, but a retest of resistance on the Weekly Chart. If this is not for you, then perhaps the Bullish Bat(red)(right) or the Bullish Shark(right) gives you, a trend trader, an opportunity to engage. So, what is what? If you have that question, focus on 1 and not engage on both.
Short
by RaynLim
459pips or 89pips of profit, which will you choose? If you have to choose only one trading setup, it is understable you would be choose the 459pips setup. But as a thinking trader, we have to be aware of what kind of trading setup provides such trading opportunity. The 459pips is from a counter-trend trading opportunity on the daily chart(right). I'm looking to short at 1.2395 and exit at 1.1937, for that to happen a restest at 1.2395 is required. On the flip side, Trend Traders could wait for a buying opportunity off the Bullish Bat Pattern on the 1-hourly chart(left), the entry price is at 1.2308, candlestick Pattern confirmation is required. Which side would you choose? The Bear 🐻 or The Bull 🐮?
Short
by RaynLim