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Shorting EURCAD at important level and "Broken fang"The EURCAD has multiple times hit the important level of 1.463 (purple box) but has now finally broken through it. We look to short it when it retests this level as we then get what i call the "broken fang" setup meaning that price prints lower lows but equal highs. Our stops go above the resistance box and I'm hoping to catch a 1:3 on this one as price should come back down to at least 1.447. Moving my stops to breakeven when price hits 2/3 of profit. We can also see that we are currently in a downtrend (Lower highs and lows indicated by the blue lines). Good luck everyone and as usual, hold your thumbs!
Short
by TheSupportResistanceTrader
Riding the bullish momentum of the USDCAD - daytrade/intradayThroughout this entire year, USDCAD has been rallying which can confirmed on the larger timeframes such as monthly, weekly and daily. I'm basing this trade based off of that momentum and on a simple trend-contination setup. As you can see, price has been consolidating this past week and along with all the momentum n volume today coming because of greece, Im expecting this to go higher with a target of around 1.2800 - around 80 pip profit
Long
by ppp7
Butterfly Pattern, Eur/Gbp, 15minHere we see a butterfly pattern on the Euro, Pound charts. Like most trades i make, i try to find support inside the linear regression channel and here we see the patern complete along the linear regression and the butterfly would suggest that we rally back up into, if not past, the positive standard deviation line. I have placed my targets like any other harmonic you will see me trade. My entry is at point b , my stop at point X and my limit at the 1.618 extension of the BC leg. This pattern appears to have 9 hours to complete as labeled by my forecast line. Thanks for checking us out, as always like comment and follow. Thank you and good trading !
Long
by Kylan_Laymance
Bat Pattern, AUD/JPY, 30 I see a Bat pattern in the AUD/JPY 30 min chart, around the 96.810 area. The market here seems to be in an uptrend, so it isn't bad to assume that the market could break out of consolidation and continue trend. But I believe since the market will be testing highs for the year, the market will complete the pattern and reverse down into the 1.618 extension of the BC leg, where i have placed my limit. My stop is placed at the top of the pattern and my entry is placed right around point B, just to be safe and keep a risk reward of 2:1 or better. Thanks for visiting, don't forget to like if you agree, or comment is you dont, i would love the feed back, i believe that trading view is here so we can use each other to learn from. And always follow, the reputation would be great for growing in the trading community. Thank you and Good Trading
Short
by Kylan_Laymance
Gartley Pattern, EUR/AUD, 60This Gartley pattern formed at the end of consolidation suggests a long movement from a monthly low. if there is a break out of consolidation , the market will likely rally up into the 1.618 extension of the BC leg, around 1.45530. i have placed my order long keeping the risk reward ratio at 2:1. I have placed my stop at the lowest low of the Gartley pattern, and my limit at the 1.618 extension. Remember to like comment and follow me for updates and new traded. Thank You and Good Trading !
Long
by Kylan_Laymance
Gartley Pattern, USD/CAD, 30In order to recover from my loss on USD/CAD, I have found a Gartley pattern in the market at around 1.20090. this pattern looks pretty strong and i predict that the market will reverse to the 1.618 extension of the BC leg of the Gartley pattern. I have placed my short as high as I would consider the pattern effective, and my stop at the top of the Garltley pattern. Obviously my limit is placed at the 1.618 extension of the BC leg, leaving us a roughly 2:1 risk reward ratio. if the market rallies higher than the stop, there is a chance for a deep crab pattern, so check back in for a market reversal. As always, don't forget to like, comment and follow. Good Trading!
Short
by Kylan_Laymance
Ascending triangle pattern USD/CAD, 5 I noticed this ascending triangle and thought it would be a great opportunity for an easy 25 pips or so. I believe the market will break out above the resistance line and ascend toward the previous structure high that falls around the 1.618 extension of the first leg of the triangle. i have place my buy in just above the resistance level, my limit at the 1.618 extension and my stop at previous structure low because if it breaks the previous structure low, the pattern is a bust. Please Like comment and follow. Good Trading !
Long
by Kylan_Laymance