Get started

Advancedpatterns

CTS based trade - NZDUSD 60M SHORT CTS trade (combined technical scoring system) 60m chart: 1 - RSI overbought 1- RSI Divergence 1 - Fibonacci extension confirmation 1 - Advanced Bat Pattern completes in the kill zone 1- HTF-confirmation - Price action is at the daily trend-line 1 - Key weekly resistance at 0.73000 1 - Price is losing momentum at previous structure high - minor structure 1 - Double top TOTAL = 8 POINTS Target - Target at most recent structure to the downside, this also aligns with the targets for the Bat pattern. Stops - ATR based stop above the high. I have found that Advanced-patterns that can be backed up by further analysis such as the CTS based system, are usually the strongest. I am 19, and have been learning to trade price action for the last 3 months. Very much a beginner, any comments good or bad are welcomed!
Short
by burnstommy
An interesting patternHi guys, i don't like to trade all the harmonic patterns i see, especially in lower timeframe. But sometimes it happens that they satisfy certain criteria that makes me comfortable using them as entry reasons. In this case you can see that the D point is coming right into a structural zone that i've highlighted on the higher timeframe (daily) and therefore the likelihood of this short is increased by the presence of that strong level that could now act as resistance. I don't know it it's going to be triggered by the end of this day, but in that case i will update the idea with stops and targets, as usual. If you have questions/ideas, let me know. Otherwise, see you in the next chart!
Short
by Roker1
EURAUD: Major Support & Bat PatternThe EURAUD price dropped significantly last few days and it getting close to the major support level at 1.5630. The price respected that level multiple times (green arrows) and it is more likely it will do it again. The sellers are going to lock their profits and buyers are going to step in, which will increase the price up. Moreover, the EURAUD formed a bat pattern, which increases the probability of this trade. The price already touched 88.6 Fibonacci retracement as an entry point to go long. T1 – 38.2% T2 – 61.8%
Long
by Art_of_Trading
EURUSD HOLDS AROUND 1,2330 AS THE MARKET CONDITIONS IMPROVE!Hello traders,it's been a while since my last article and i understand all the complaints from some of you that's why i am apologize,the reason was the extra work at my office lately as volatility kicked off lately and we had a lot of orders piled in from our customers. Now let's see what's going on with the EURUSD pair: 1.The EUR/USD is trading around $1.2330, slightly higher on the day. 2.Political news made way to US bond yields as the main driver. 3.The technical picture is balanced in the short term and bullish in the longer-term. FUNDAMENTALS 1.The pair had initially reached a high of $1.2364 on the news that Germany will have a government nearly six months after the elections. The Grand Coalition is seen as favorable to the euro and the euro-zone in general. 2.The pair later dropped sharply and hit a low as the results of the Italian elections emerged. No party or alliance won an outright majority. The hung parliament and the rise of non-mainstream parties weighed on the common currency but these fears later subsided. 3.Data in the euro-zone was a tad below expectations. The Sentix Investor Confidence dropped to 24 points against 31.1 projected. The The euro-zone Services PMI was downgraded to 56.2 points from 56.7 in the initial print. These are both second-tier indicators. TECHNICALS 1.Price is consolidating for now but is way above the 200EMA which shows us that we are in consolidation short-term but still in a bull market longer term. 2.RSI is slightly above 50 level which indicates lack of momentum but as we said earlier is logical as we are currently in consolidation before a strong continuation upwards. 3.As i show at the chart we had an advanced bullish pattern but now is late to participate in this trade as the R/R ratio is no longer favorable. 4.We have very strong support due to previous resistance zone which now acts as support.The same zone we used for our 100pips short trade. 5.We have also very thic Ichimoku clouds support which coincides with the advanced pattern,the support zone and the last bounce we saw from the price action. 6.We also have as support the ascending trend line respected a lot of times during the last 5 months. 7.Perfect bounce from the 61,8% Fib level. POSSIBLE TRADES WE CAN WAIT A PULLBACK AT 1.2230 LEVEL SL AT 1.2060 WIDE STOP LOSS BECAUSE OF THE WIDE CONSOLIDATION TP AT PREVIOUS HIGHS AT 1.2550 OR WE CAN BE MORE CAUTIOUS AND WAIT A BIGGER PULLBACK TO PARTICIPE LONG AT 1.2160 LEVEL WITH SL AT 1.2060 AGAIN AND TP AT PREVIOUS HIGHS AT 1.2560 THANKS FOR SUPPORT! HAPPY PROFITS TO EVERYONE! DON'T HESITATE TO COMMENT OR ASK ANYTHING!
Long
by The_Greek_Trader
2
ANOTHER Lisk bullish Cypher on the DailyIf you were waiting for an "optimal entry" and were dumb enough to miss the last round; amazingly we're getting a second look. I would expect to see a push lower, (hopefully) to the $15 range but with indies bottomed and embedded it could get crazy with a panic spike low. It's worth noting that SCMR is still printing red trend candles. Typically stops would be placed somewhere south of X, or under the $12 zone. See previous published chart for more detail on the Cypher advanced pattern. Cheers! TLDR: Traditional targets : Target 1 : 0.382 retracement of CD leg Target 2 : 0.618 retracement of CD leg
LLong
by ninjabenja
2
Eur/GbpEG is the exact type of setup I like. LONG downward correction after strong move down with plenty of traders who don't understand waves and structure holding sells. I posted this last night, just thought I should better explain. It may pull down some, may take its time. But I bet it shoots up. It shouldn't break the 70-80% fibs at this point in my opinion, can go whenever it wants. Being EG it can create some crazy patterns, but I see very low probability at this point for it to sell down without coming up. I see a flat combo emerging. And don't sleep on UJ. Powell said US rate hikes even though other news negative, but consumer confidence at 10:00. Trading news is risky if you aren't experienced. The thing about UJ is, I was thinking and if UJ is in an uptrend (which keep in mind, we can't be certain) I doubt they would from larger structure letting people get in. It shot down and up very fast from my 1.236 extension of my 7 swing which was perfect (which is a fib measurement for a pattern the average trader would not even consider). When they do that, after breaking a major low like that it usually means they will continue. Keep in mind you are trading forex and are therefore gambling so it is on you what you do with this information. I could be a complete idiot just making stuff up.
Long
by thillygoosth
NZDUSD Potential Short After last weeks rally to the downside we are still trending lower it seems. After catching an advanced patter set up, a short bias can be announced. Using Fibonacci retreacements and extensions several criteria has been met. Starting off Measuring the XA we can find the C leg has met the 1.272%. Also a pullback of the B leg has met the .618% so now we must watch as price continues to pull back a bit higher to retest previous resistance. At which point we can bring out the .786% level of the XC leg as it is in confluence with the resistance level where we can look to enter the market. Finding targets is as simple as one two three all we need to do is grab the DC leg pull up the .618% & .382% and set stops above our starting point and Viola we have ourselves a nice set up.
Short
by Alexkly