618 Retracement on GBPUSD should take us back to lowsA short opportunity on the GBPUSD with two entry opportunities and stop just above structure highs. R/R should measure just above 1.3
0-618
Bat Pattern, Eur/Aud, 1 hrHere we have a completed Gartley pattern in the positive deviation area of the last 100 and 200 moves.
According to my strategy , this market is likely to reverse down into the negative regression. As of right now, the market is retesting the high at point D and we should see a trade completion in the next couple of hours.
Anyone that has been following my trades knows that last week I had a very bad week and I am making a minor change to my strategy for the week , until we recover from our losses, i was previously trading all harmonics to the 1.618 extension of the BC leg, but as of this week , i will only be trading harmonics to the .618 extension , just for a guaranteed close for profit.
I have placed my trade actions as follows:
Limit: point X
Entry: point D
Limit: the .618 extension of the BC leg
Please like and comment if you agree or disagree respectively.
And always follow me for more updates on market analysis and harmonic patterns , and recently a lot of wave theory's.
And as always Good Trading Everyone!
2618 setup on NZDUSDAfter double topped, the kiwi made a strong break down and now it retraces to 618 area, which could be a nice selling oppurtunity with two potential targets and stops above the double top - as it is written above.
AUDUSD / 4HR / Bullish Bat PatternNice reversal structure trade, that has hit target at the 127%
On completion, we have hit the 886 d leg to complete the bullish pat pattern.
TP1 at 382 and TP2 at 618
Star Prosper
Philip Stewart
RIG back to $22RIG is coming of divergence that sent price breaking resistance with momentum confirming the move higher by also making higher highs. RIG has since pulled back to a .618 retracement. I am looking for price to move past its most recent leg higher and test the 127 projection of this leg. With stops placed below the most recent swing point low, this trade offers a very nice risk/reward ratio.
NUGT .618 Retracement after Triple DivergenceNUGT has put in a .618 retracement after triple divergence led it to break previous resistance with momentum confirming the break. Our decline was not a sharp decline at all hinting that this was price taking a breather on somewhat lighter volume. I am looking for price to continue to its 127 projection with stops underneath previous lows.
VZ Riding SupportVZ has come to trade in a nice little squeeze of a channel here for the past week. This support level also happens to be the .618 of the bigger picture leg. Momentum continues to see higher lows which should lead to this level holding up and a retest to the next resistance level.
