EURUSD 1hr - Potential Bullish Gartley & Bearish Bat Formations Welcome to a new week of trading. Wishing you all the best as always!
Today I've got 2 potential advanced pattern formations on my radar today.
A potential bearish bat formation in yellow & a potential bullish Gartley formation in blue.
Akil
Advancedpatterns
Bearish Bat At Market 60Min ChartHave a bearish bat pattern formation currently formed from this recent massive spike to the upside. this could be a good signal/indication that wee will get a pullback for the market to recover.
i have taken 2 short positions
1st Target is 0.88141
2nd Target is 0.87641
Cypher 1H longReading the 1H timeframe
Although I'm currently short with the Shark886 pattern for the longer term, the pair is still making higher highs on the lower timeframe.
With a clear extension of 127.2% of X to A the pair should drop to at least 78.6% of X to C at .7180. This is where this Cypher pattern completes. Also, this completion point comes together at the broken upchannel on the 4H chart (blueish).
Although I do not use the RSI as a primary indicator, I would like to see some hidden bullish divergence for some confirmation.
Setup
Entry: 0.718
Stoploss: 0.7163
target 1: 0.7196 (1:0.94)
target 2: 0.7206 (1:1.53)
target 3: 0.7213 (1:1.94)
Since I'm short, I'm not shooting for any extended targets..
Harmonics in play on CADJPYHey guys,
this is an advanced pattern formation that's about to complete on the 4hr chart. The D point of this Bat lies right into a key level of daily support and this gives us more confidence about this trade. Stops below X, targets as usual in harmonics.
If you want to share your view, or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Long with Bat Pattern!Hey guys,
this is an advanced pattern formation that's about to complete on the 4hr chart. The D point of this Bat lies right into a key level of daily support and this gives us more confidence about this trade. Stops below X, targets as usual in harmonics.
If you want to share your view, or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Bracketing GBPUSD with Advanced PatternsI just put out a video breaking down both of these advanced patterns on GBPUSD. You have a bearish bat pattern that will potentially complete at 1.3015 and a bullish cypher that will potentially complete at 1.2813.
In the video i also cover a few different ways to enter short on a structure trade on USDJPY. If you would like to see the video here is the link. youtu.be
Good luck and good trading
Hedge to reduce cost baseEURUSD is trading in an improtant resistance area of Elliott Wave 5 and Bat pattern. The trade does not develop and I saw a change of going long the Euro on EURGBP in order for me to reduce the cost of a potential loosing trade on the EURUSD. SInce the EURUSD is longterm with hgh profit potential and EURGBP is short with small profit potential, I will still make a siginifcant profit on the EURUSD if eventually is will pay out the way I suggested.
amba - advanced confluence possible long and short eyes on earnings next week there is a good chance for some long and short trades here. price has dropped pre earnings and bounced nicely off the 61.8% retracement and trading above its moving averages. a positive earnings report and we could enter long trades with targets around ab=cd, bat completetion where we can look for short.
LorbeerPattern coming up, >70% WinRate for this Adv Fib Pattern!I already opened a small short trade as price rests at resistance. In case the full pattern will not be triggered, I still want to make some profits.
Considering the short position on CHFJPY that is not moving anywhere since more than a week, I retain myself to add to many long assumptions to the japenese yen.
Price at Pivot. Pretty neutral...USDJPY is currently looking for direction.
A Breakout of the 112.12 high could trigger a pretty BatPattern. My track record shows an awesome 70% profit rate when it comes to this pattern, so I always get excited seeing one!
Or will traders push price below the May low to chase the April low? Time will tell either way, lets take advantage!