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Bat formation on GBPUSDHey guys, today i want to share with you an harmonic pattern formation that i think may be interesting in the next days. On the GBPUSD we are consolidating and ususally when this market condition occurs there are a lot of patterns that appear on the charts. Make sure your stop is below X, and targets could be set as i illustrated above, at the .382 and .618 retracement of the AD leg. Good luck! If you have any kind of questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Gartley on NZDUSDHey guys, not much on my radar today (except the winning trade on USDJPY). Nonetheless i've found something valuable to share with you. It's a trading opportunity on NZDUSD that starts from the higher timeframe. On the daily we are at the completion point of a Cypher pattern; at the same level we can notice also structure (black line). That's why i began to look for trading opportunities on lower timeframes, such the hourly. In this chart you can see a Gartley advanced formation, that usually occurs in consolidation patterns. Its completion happens to be really close to the line i've drawn, therefore i'm setting my orders up. If you want to share your standpoint or just to ask questions, you can easily write below. Otherwise, see you in the next chart!
Short
by Roker1
5
The Power Of "FRESH" Supply & Demand ZonesDetermining the strength of the fresh zones. Every time the trend changes direction, it is because of a change in the balance of supply and demand, but to use this to our advantage we need to know the likelihood of that imbalance being there the next time price returns to that zone. Supply and demand zones are similar to support and resistance lines in that supply zones provide resistance and demand zones provide support. When price breaks through a supply zone it becomes a demand zone, and when price breaks through a demand zone it becomes a supply zone—the same way a resistance line turns into support when broken and a support line turns into resistance. The similarities end there, though. A support or resistance line requires at least two points separated by time to be drawn, where a supply or demand zone can be plotted from one candle. Most traders will tell you that you should have three points for a support or resistance line to be drawn. Traders are also taught that the more times price bounces off of a support or resistance line, the stronger that line is. The opposite is actually true.
Education
by tradewonk
52
Bat pattern on USDJPYHey guys, i want to share a nice opportunity that could complete in few hours. It is a Bat formation and its completion comes right near an important 4hr structure (blue line), on the daily we recently broke below a support level and this represents a test also of that level. Please note it would not be a valid pattern taking the fibs from the very high, but i decided to use that X because stops would anyway be safe above that high with my stop loss position. If you want to take this pattern make sure your stop is above 115,60s. Targets as usual at .382 and .618 retracements of AD leg. Good luck! If you want to ask questions or share your standpoint, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1
6
That's beauty! EURJPY pattern symphonyHey guys, i want to share with you this outlook i've drawn on my chart. You can see 3 different advance pattern formations are setting up right now. I consider those to be three valid reasons to get involved in the market. You know stop would go above/below X, and targets at .328 and .618 AD retracements. Don't tell me it's not beautiful. Good luck in the markets! If you want to share tour standpoint or ask questions, feel free to write below. Otherwise, see you in the next chart!
by Roker1
2
Cypher at market with some confluence on AUDJPYHey guys, i like building a case for entry every time i need to enter a trade. It helps me feeling comfortable taking the risk. Now i'll explain why i'm selling audjpy 0.13% right now. First, we have daily structure (blue box). Second, the Cypher pattern has just been triggered. In addition to that you can look at RSI which is deeply overbought. Price is also testing a strong psychological number (87,00) that we know sometimes acts as a structure level. Final clue: an engulfing candle right now. Price is also pulling back a bit so we can sell now and have a better risk to reward ratio. If you want to share your standpoint, feel free to do it below. Otherwise, see you in the next chart!
Short
by Roker1
2
ABCD & THREE-DRIVE EXPLAINEDHi Traders, Please find below three basic trading strategy's that can be implemented to any market on a daily basis. I have only given out basic information on the ratio's and fibonacci's of the two strategy's, should you need anymore in depth information don't hesitate to contact me. ABCD Rules Of Engagement: 1. Point C must retrace to a 0.618 of the A - B move 2. Point D must be a 1.272 projection of the B - C move 3. Buy/Sell at the D leg completion. Three -Drive Rules Of Engagement: 1. Point A should be the 0.618 retracement of drive 1 2 Point B should be the 0.618 retracement of drive 2 3. Drive 3 should be the 1.272 extension of the B correction
Education
by UnknownUnicorn180388
35