Weekly Hammer
Analysis
- Weak close below the high/low range of the previous candle.
- It is against Monthly and Weekly trend.
- It is fighting the Monthly CNF BEEOC.
It is a PASS
Daily SS
Analysis
- The Direct trend does not support the conservative approach to take a risk on the setup.
- FCL too close.
- SEC UNC MR above.
It is a PASS.
Daily BEOC
Analysis
- Good dimensions.
- Away from traffic to the left.
- Not at swing high but we will trade it as a continuation PA setup.
- Monthly trend turns RANGE at conservative sell stop. There is also a confirmation of the Monthly bullish swing trap at the relevant level.
- Weekly trend BEARISH
- Direct trend in sync and supports the conservative approach to take a risk on the setup.
- See the Weekly BEARISH wedge and its potential target.
- The UNC R levels above are identified and they are SECONDARY.
- Good close below both TLs.
- FCL @ 1.2733 the WS which is satisfactory to manage the trade with the conservative approach.
This is a VALID PA setup according to SPA.
Trade Plan
When we finish our Weekly scanning of identifying all the potential VALID setups based on SPA then we will reconsider and reexamine to select the best ones.
Weekly SS
Analysis
- Great location with excess of CNF: MR + WR + MBRN + FIB.
- Great close below the close of the previous 6 Weekly candle.
- Monthly trend BULLISH. This is a counter to the Monthly trend.
- Weekly trend BEARISH
- Direct trend in sync BEARISH using the conservative approach to take a risk on the setup.
- Potential complex H&S chart pattern. It is better visible on the Daily chart (see chart below).
- Weekly 2IL BEARISH PA setup and it is our controlling candle.
- All R levels above the setup are CNF but this is not the story below.
- The SEC INT WR levels are identified.
- FCL the BRN 0.9500.
This is a VALID PA setup according to SPA.
Trade Plan
Pending…
[B]The rest of the pairs will be analysed in our forum. If anyone requires further analysis on any pair that was not posted here, please ask… [/B]
Touch Trade
Add on the existing short position 0.1L using a TT at the CNF: PRI UNC WR + RN 0.98 risking the MARKET PROFIT.
Trade Plan
We will touch trade the BRN 1.2500. We will risk a position size of 0.2L. As soon as price breaks the high of the Weekly BUOC we will move SL at entry level. At FCL we will take profit 0.1L and trail the rest of the position accordingly. See position size calculator for further details.
Trade Plan
We will risk a position size of 0.3L using the conservative approach. At FCL we will take profit 0.2L and move the rest position at BE. We will trail the rest of the position accordingly. See position size calculator for further details.
LOCK ADDITIONAL PROFIT
SL moved at 0.9790. We are in the 4th day out of 6 according to TDE projection.
Trade Update
Due to the new realities on our chart, we moved the FCL 10 pips above the DS and the RN 1.27. Furthermore, the closing of the day is very important. If the day will close forming a BUEDB then we will place our SL 15% the range of the PA setup above its high. On the other hand, if price return south then we will get a 2IL, a bearish pattern that justifies the new FCL.
[B]Since the opening of this thread, SPA traders collected more than 2000 pips.[/B]
