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Harmonic Bat Pattern on USDCHFHi guys, this is a simple harmonic pattern that's setting up on the 4hr chart on USDCHF. It meets my personal rules and so i can take it at the D completion point, without waiting for additional confirmation. But you could nevertheless wait and see how price will react at this zone and then decide whether to enter short or not, it's a valid reasoning too. Stops above X, targets at 382 and 618 of AD leg. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Bat Pattern on USDCHFHi guys, this is a simple harmonic pattern that's setting up on the 4hr chart on USDCHF. It meets my personal rules and so i can take it at the D completion point, without waiting for additional confirmation. But you could nevertheless wait and see how price will react at this zone and then decide whether to enter short or not, it's a valid reasoning too. Stops above X, targets at 382 and 618 of AD leg. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
3
AUD/USD What a rally?What about a rest?Record expansion in Australlia continues after data showed that australian economy grew by 0,3% the first quarter.Meanwhile AUD/USD is trading at 0,7550. Although it's rally,we can see that the australian dollar is ready for a ''digestive'' pull back after that rally forming a bearish advance pattern and goinh towards a resistance area. As we see at the chart we have two formations,an inverse head and shoulders and a bearish Butterfly pattern. The inverse head and shoulders pattern(red lines) is about to be broken as price is fighting it's neck line,if not we have a continuation of the downtrend. If price break the neck line then we are watching for the 1.27% Fibonacci Extension of XA leg of the bearish butterfly pattern and previous resistances to take a short trade. Short trade is favoring as the 200EMA is slightly bearish. We can also notice the downward red trendline which is broken and it propably going to act as a support in an upcoming pullback as it coincides with the 61.8% Fibonacci retracement of CD leg of the advanced pattern formation. Stochastics are in overbought area. POSSIBLE SHORT TRADE: FIRST TARGET T1 AT 0,7520 WITH 2.5 P/L SECOND TARGET AT 0,7460 WITH 4.5 P/L BUY STOP AT 0,7650 THANK YOU FOR SUPPORT! HAPPY TRADING!
Short
by The_Greek_Trader
Bearish Gartley pattern on AUD/USD daily chartWe have almost a completion of a bearish gartley pattern on daily chart of Australlian dollar at 1,27% Fibonacci extension of AB leg of the formation. If we take into consideration our view on Gold which is bearish and highly correlated with AUD we might seeing the completion of a bearish Gartley pattern and we won't have the oppurtinity to see the bearish bytterfly pattern as i stated in my previous article. Nice price action with the wick at these levels right now. If we exceed the resistance area shown at the chart then we propably have a bearish Butterfly pattern as showed in my previous article. POSSIBLE SHORT TRADE: FIRST TARGET T1 AT 0.7500 SECOND TARGET T2 AT 0.7450 BUY STOP AT 0,7580 THANK YOU FOR SUPPORT HAPPY TRADING!
Short
by The_Greek_Trader
GOOD PROFITS ON SILVER!BUT NOW WHAT?Very good entry on this last counter leg bounce of silver. A lot of traders ask me now what? Now the current trend line on hourly chart has lust broken.You can wait for a re-test of the trend line nad short it. Keep in mind that fundamentals stay unchanged supporting a price near 15$/OZ area. TECHNICALLY 1.WE CAN SEE THE 61,8% FIB RETRACEMENT OF THE INITIAL DOWNTREND THAT PRICE TRIED AND COULDN'T CHANGE THE MID-TREND UP. 2.MARKET GEOMETRY MEANING THAT IF WE DO THE SAME PROCESS AS WE DID AT MY PREVIOUS ARTICLE WE COPY THE ED RED LINE AND WE TAKE THE E'D' RED LINE THAT OCCURS AND WE PLACE IT AT THE CURRENT BOUNCE. 3.THE PRICE LINE THAT OCCURS IS AROUND 15,300$/OZ AREA THAT IT HAPPENS TO BE THE TOP LINE OF THE DESCENDING MID-TERM CHANNEL. 4.WE HAVE RSI DIVERGENCE ALREADY ON 1H AND 4H CHARTS. 5.STOCHASTICS IN OVERBOUGHT AREA. 6.THE 15,300$/OZ IS ALSO THE 1,618% FIB EXTENSION OF THE LAST E'D' COUNTER TREND BOUNCE WE HAD. 7.AT 15,300$/OZ WE HAVE A STRONG RESISTANCE ALSO AND A BULLISH ADVANCE PATTERN COMPLETION WHICH I WILL POST A NEW ARTICLE SOON. 8.AS WE SEEN AT HISTORY PRICE AFTER EACH SELL-OF RALLY DIDN'T RETRACED ABOVE 88,6% FIB RETRACEMENT INCLUDING THE WICKS SO WE WILL PLACE THE BUY STOP ABOVE THIS AREA. POSSIBLE TRADE: FIRST TARGET AT 16,300$/OZ AT PREVIOUS LOW STRUCTURE AND 61,8% FIB RETRACEMENT OF THE UPWARD MOVE. SECOND TARGET AT 15,300$/OZ AREA FOR THE REASONS MENTIONED ABOVE. BUY STOP AT 18,100-18,500$/OZ DEPENDS ON RISK APETITE ABOVE PRECIOUS HIGHS AND ABOVE 78,6-88,6% FIB RETRACEMENT OF THE LAST COUNTER RALLY. THANK YOU FOR SUPPORT! HAPPY TRADING!
TVC:SILVERShort
by The_Greek_Trader
IS CRUDE'S OIL FALL OVER?After so many recent facts occured regarding the crude oil and energy sector generally it wouldn't be possible to analyze it correctly in one article and that's why i am not going to talk about the changes on ''fundamentals'' of Crude Oil,if you can call them this way. So i will exclude the decision of president Trump to cancel the Paris climate agreement,the tension between the Qatar and nearby countries and the enlargement of O.P.E.C agreement and many others factS and I will focus on the chart as technical analyst listening only the price. TECHNICALLY OBSERVATIONS: 1.Price moved below 200EMA. 2.200EMA started to sloping downwards. 3.We can notice 2 channels the mid-term descending channel and the short-term ascending channel. 4.We are about to have a bullish Bat pattern. 5.We have a bullish RSI divergence. 6.Stochastics are in oversold area. 7.We have a strong support at these levels as price had bounced back from these levels at the past. 8.If we take the Fibonacci extensions of the two legs AB and BCwe can see that it perfectly coincides with the support area. 9.Everytime we bounved back from these levels we had a strong green candle.This time we can see a weak price action and two doji candles if today price close at these levels which is a bearish continuation formation that's why i believe we are going to see a litle further downward move to Bat pattern completion before we bounce back. 10.Also if price retrace to those levels we have a re-test of bottom trend line of the short-term descending channel. POSSIBLE TRADE: PLACE PENDING ORDER AT BAT PATTERN COMPLETION 43.35$ FIRST TARGET T1 AT 47.50$ WITH P/L RATIO 2.15 SECOND TARGET AT 50$ WITH P/L RATIO 3.50 STOP LOSS AT 41.60 THANK YOU FOR SUPPORT! HAPPY TRADING!
NYMEX:CL1!Long
by The_Greek_Trader
6
Bat Pattern + Rising Wedge for potential Short Setup on $EURUSDI recently took several successful long trades on $EURUSD ( ) and I am still bullish on this pair, BUT I always ask myself "What do I see, what does it mean, what do I do based on those information?" I see a bearish Bat Pattern on the daily timeframe and a rising wedge with bearish divergence on the RSI. This means there is potentially a good chance for a retracement into the last structure zone (at around 1.09's). What do I do? Nothing. I do not trade the daily chart, but I am open minded and know the probabilities when we break those wedges etc. Always make sure you trade YOUR backtested plan!
Short
by WirmachenTrader
Shark 886 short DailyReading the chart The pair broke a midterm upchannel with a weak extension of 120.9% of X to A. This break of the upchannel sets my bias to short. Also, with a weak extension in mind I would expect a deep retracement back to X. This retracement should end at approx. 0.7189 with a confluence of the dynamic resistance of the current downchannel at approx. 0.7200. Setup entry: 0.7189 stoploss: 0.7284 (95 pips) target 1: 0.7047 (1:1.49) target 2: 0.6962 (2.39) target 3: 0.6716 (4.98) If the stoploss is too big, downsize you positions.
Short
by Mikoxl.
5