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ETHUSD Potential Pattern FormationBased upon the movement of the markets a lot can happen. But based upon previous historical moves we see that there was a test & bounce off of the 38.2% Fibonacci. After that move we saw price fall down and almost testing the 61.8% Fibonacci. Now lets talk about this pattern. The first criteria has been met which is the XA leg Fibonacci extension of 1.272% has been hit. Second as discussed price visited the 38.2% Fib of the XA leg. which means it is now a waiting game for Ether to reach the 78.6% Fibonacci of the XC leg. Which is a lot of ground to cover so be watchful as price can be volatile. Thanks for reading this quick chart analysis. Drop a like and have a great day. Thanks, hope you make lots of money.
COINBASE:ETHUSD
by Alexkly
Harmonic Trading on EURUSDHi guys, very simple setup. On EURUSD we've recently created a double top on the daily chart and price has broken to the downside, giving us reason to believe it's headed lower (RSI divergence is also supporting that). Although the price has increased very rapidly over the last hours, i'm still incline to sell this market and i've also found a valid entry point, that is the D point of the Bat pattern that's on the lower timeframe (4H and 1H). Sold at the D point, with stops above X and targets as shown on the chart. If you have any idea/question, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
7
Advanced Pattern on EURUSDHi guys, very simple setup. On EURUSD we've recently created a double top on the daily chart and price has broken to the downside, giving us reason to believe it's headed lower (RSI divergence is also supporting that). Although the price has increased very rapidly over the last hours, i'm still incline to sell this market and i've also found a valid entry point, that is the D point of the Bat pattern that's on the lower timeframe (4H and 1H). Sold at the D point, with stops above X and targets as shown on the chart. If you have any idea/question, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
4
EURJPY: Pending Bearish Deep Crab PatternPrice is heading up and it's about to complete a bearish deep crab advanced pattern, Advanced pattern work pretty well, but I have found out after the years, that they tend to work wonders when completing at key support and resistance levels. Below I am breaking down why this pattern has a great potential as it completes at a key support resistance zone give from the a long term downtrend and median line analysis. SL & TP as shown in the chart. If price reaches the 1rst TP we move SL at BE to 2nd position. Weekly Downtrend: Validation of the upsloping median line: Bearish Divergence. The uptrend is losing it's momentum: Weaking of current uptrend. Resistance has stepped down (sliding parallel of median line): Key resistance zone consists of long term weekly downtrend and sliding parallel of median line: Deep Crab completes into the resistance zone: ** Below you may find the link of my USDJPY bullish Bat pattern drawn in the same fashion as the one of this post. It's already giving us 200+ pips profit and it's still has a good way to go. All the best, John
Short
by Fxprotrader
1
USDJPY: Bullish Bat Pattern Completion at Key SupportBullish bat pattern completion at a key support level (the lower parallel of the median line). Entry: At current level Stoploss: 107.100 Profit: 114.000 Trading advanced patterns in the higher timeframes require a wide stoploss. In case you cannot go with such stop, switch to the lower timeframes and watch for a smaller setup completion. Below you may see a reversed head n shoulders. Buying the breakout of the neckline and placing your stop below the head will give you a tremendous risk/reward setup, worth taking. All the best John
Long
by Fxprotrader
3
Potential Bullish Bat on EUR/USD Hi Everyone, hope you all had a lovely weekend. Thought I will quickly shoot this on Tradingview, If you look at the 4 hr some will notice that we had a breakout of a bullish flag pattern. Now personally I don't trade this pattern but I can use it as a confluence. For breakout traders they will be waiting for a retracement to go long, me, on the other hand, is looking to get involved in the 60 min timeframe. If price retraces back to previous resistants now support, we have a potential bullish Bat completing at 1.2260. Conventional targets at 38.2 & 61.8 retracement. I can also get involved using the FSCT1 at that level if price action presents itself with bullish evidence.
Long
by shah-n
Massive Potential Bat Pattern on USDJPYWith all of the US Dollar weakness in the markets, we are seeing a ton of massive moves across all of the USD pairs. And here on USDJPY we have a massive Bat pattern that is currently setting up. Now the really nice thing about this setup is the R/R and the fact that it completes at a major structure level. This pattern will complete at 108.177 and minimum stops must be below X at 107.320. Now make sure that this meets your risk profile, because it is a lot of risk since we are on the Daily time frame. But if it does meet your risk rules, you will have a very nice setup with excellent risk/reward with target 1 at a 38.2 retracement and target 2 at a 61.8 retracement. Now if the risk is to much for you entering on a limit order, you can look to drop down to the 4hr timeframe and look for an alternate entry ie. double bottom, engulfing candle etc. What ever you do, make sure to follow your plan. Good luck and good trading.
Long
by tommyb35