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Elliott wave in 1day chart. Is this time to exit?Kindly follow for daily new ideas.💡 feel free to contact in Personal if you have any doubts. I’ll always help for free. :) . Impulsive Elliott wave in 1day chart of Bitcoin/USDT . If you’re long term hodler, You do not need to worry because on weekly chart it is still on 1st wave. (yes, this is good news ;) ) This is a simple yet advanced level technical analysis for BTC . As i said stop loss at 6500 is more safer than 6800. Can you guess the reason? i’ll write in comments.
by Harshgp
1
Gold: Buying opportunityOn the 4H charts gold is in a clear uptrend, printing higher highs and higher lows. If we manage to get a rally higher from this level, a higher high can be expected, while a potential bearish butterfly completion is sitting at 1765. There is a good chance that gold might reverse from this level. A bullish Gartley is appearing, in which 38.2%, 61.8%, 78.6% fibonacci retracements sets up a nice symmetrical pattern with a 200% extension. The pattern completes between 1.414 and 1.618 AB=CD. Some strong support should be expected at the 1.618 level at 1675 with demand sitting just above with a fibonacci cluster consisting of 23.6% retracement and the 200% extension at 1678. A 15 minute chart is showing bullish divergences and confirms the long bias: Good luck to all trading gold!!
OANDA:XAUUSDLong
by MikulovicFOREX
8
EURUSD: Thought ProcessThis is an update on the previous post I shared on EUR/USD, with a detailed explanation of the thought process. In this chart we have a bearish trending market as the root cause of a 3.6% decline in prices. A bearish trending market is defined by lower lows and lower highs. A red sloping diagonal line highlights the bearish trending market by connecting the lower highs, which gives visualisation of a descending angle, confirming the downtrend. When looking for a trading opportunity, we want to trade in the direction of the trend. More often then not, prices will continue to trade in the direction of the trend rather then reverse, with the exception of when a major demand level is present. Traders who have missed an initial swing low in a downtrend, is provided with an opportunity to ride the trend on a pullback. In such cases traders look to enter between a 38.2-61.8% fibonacci retracements. 38.2%, 50% & 61.8% is the fibonacci retracement levels that are most often used and these are the levels that most often hold. These levels are also plotted on the chart, using the fibonacci retracement tool as black horizontal lines. Simple does it, but is this enough to provide a clear trading opportunity? In order for us to increase probability of success while mitigating the potential risk, we have added a twist to our trend trading philosophy with advanced pattern formations. The highlighted pattern shows a bearish bat pattern. Advanced pattern formations can be a very reliable signal, because of the quantified measurements. Every pattern consists of a potential reversal zone or PRZ. The PRZ for this bat pattern consists of the obligatory 88.6% (XA) retracement, a 161.8% (AB) extension and a symmetric 100% (abc) projection. These are highlighted as blue lines. Usually we want to look for an alternate ab=cd pattern within bat patterns, but its still a valid set-up with resistance at ab=cd, some would call this a Gartley. We can see that the PRZ has a lot of confluence. Not only is the PRZ on its own a cluster of fibonacci levels, indicating a major resistance level, the sloping diagonal line confirms the pattern with 50% retracement of a previous swing within the trend which shows more confluence within the PRZ. This is a strong signal. I am expecting the downtrend to continue, down to atleast 161.8% of the bat pattern at 1.054 or a 160 pip decline from current prices. Waiting for the trade to play out. I am risk free after having booked partial profits once price hit the previous traded lows at 1.065. If you find this post helpful, make sure you hit the like button and comment your thoughts below. Thank you for reading May God bless
Short
by MikulovicFOREX
1
Potential Bearish Bat EUR/JPYHey Traders, As price is pushing up, we have a potential advanced pattern presenting itself at 122.239 in the form of a bearish Bat. As usual, I will be setting my targets at the 38.2 & 61.8. Stops will be below X, you might be wondering why I don't exactly mention where my stop placements are set. I strongly advise people to only trade strategies that you have back-tested and collected proven data, by doing so you should trade in correlation to your back-testing. Please check your data on this trade and ensure your C leg is not lower than A leg as that will invalidate this pattern. Well, let me wish you a lovely weekend. Unfortunately, I have dislocated my shoulder and typing this with only one hand. Plan to rest this weekend and avoid straining the muscle and nerves already damaged. Have a good one traders.
Short
by shah-n
Potential Bearish Gartley - GBP/JPYHey Traders, As price is rallying, we have a deep bearish Gartley forming with entries at 143.98. Furthermore, we have fib confluence aligning with 127.2. Targets at 38.2 & 61.8, stops below x. To summarize my week ahead with regards to advanced patterns we have the following: 1. GBP/JPY - BEARISH GARTLEY - ENTRIES = 143.98 2. GBP/USD - BULLISH BAT - 4HR - ENTRIES = 1.2948 3. EUR/JPY - BEARISH BAT - 4HR - ENTRIES = 122.23 4. EUR/USD - BULLISH GARTLEY - 4HR - ENTRIES = 1.1094 (ALREADY IN TRADE) Well, traders, I hope everyone had a lovely weekend. I have a few structure trades on my radar as well, wish you all a prosperous week.
Short
by shah-n
Bullish Gartley EUR/USDHey Traders, So, if you had traded the EUR/JPY Bullish Bat I posted earlier this week you would have banked around 85 pips. Secondary targets reversed and stopped out at break-even, We can't always have it all traders lol. An important factor we banked profits from that trade but always be ready to hand them back over. Moving forward, we have another advanced pattern setting up on EUR/USD in the form of a bullish Gartley, I'm already short this pair, T1 hit and waiting now to stop and reverse. For the bullish Gartley, Entries at 1.1094, targets at 38.2 & 61.8, Stops below X. Good luck traders will keep you updated on the performance.
Long
by shah-n
Bullish BAT second chance entry - EUR/JPY 4HRHey Traders, Firstly, let me begin with Happy New Year. I hope all had a wonderful Christmas & New Year. No doubt that we all have made new years resolutions & goals which we aim to either maintain or achieve. I personally have mapped out my entire year and if you follow me then ill be giving regular updates lol. Enough of that and let's get started If you trade advanced patterns, if it's not already on your radar we have a second chance on entering this bullish BAT as the price is pushing down. As for targets I personally take them at 38.2 & 61.8 retracements. Stops below X, please follow your own rules as per your trade plan. Wish you all a lovely week.
Long
by shah-n
1
GOLD - Classic Butterfly SELL PatternClassic Butterfly SELL Pattern in GOLD. I would wait for an entry confirmation inside the highlighted zone before entering the trade. Price is at a significant level of structure. So most probably market will make a retracement to the downside before breaking structure to the upside. Therefore it is highly possible that market might at least reach one of these profit objectives before making any further movements. Reward/Risk = 4.4 Profit Potential = 700 Pips Maximum Risk = 166 (Risk can be reduced after getting the entry confirmation of the trade) Note: This is merely a trading idea of mine and should not be considered as any kind of trading signal or advice.
TVC:GOLDShort
by Sankapathum
GBPUSD W1 - BLACKSWAN (SHORT)GBPUSD Seems to be going short for the next coming week... or weeks it's currently setting up for a BLACKSWAN where its touching a possible resistance zone. The resistance zone doesn't seem like a very strong one however its currently in position at a 38.2% retracement in the market and its touching a MAJOR trendline in the market. The trendline has made 2 touches before but currently in this situation with such confluences at the moment it's likely to be very probable. The GBP pairs seems as though they're gonna make some major drops at the end of 2019 and the opening of 2020. Who knows it might last a couple of days weeks or months but set your targets and get in for some shorts! If your analysis says otherwise then by all means go long because i can be wrong. Nothing's guaranteed in these markets! I've had approximately a 70% Win rate trading BlackSwans so it might be worth considering. Love my idea and looking for a reliable broker to trade? Join Exness now! At Exness, you'll get some of the lowest spreads on the market, but that's not the great part. You'll get INSTANT WITHDRAWALS. This means no waiting for the broker to process your withdrawal or any BS! Join Us NOW! www.exness.com Join Exness @ www.exness.com Check Out our TrustPilot! - 4.5* Rating! www.trustpilot.com
Short
by TheRussianSpy
EUR/CAD short term bias with a very different long term biasLooking at the long term weekly chart: Price is close to reaching major support. This level has been respected several times indicated with the white line. The last several weeks price has bounced off this major support level. Price has been making a lower highs each time it bounces indicated with the blue arrows. Looking at the 240 min. chart: A long Bat pattern will complete if price crosses the major weekly support level and reaches 1.4448. In the short term: I believe price will respect the weekly support level but making a lower high from the previous highs. I will be long if price touches 1.4448, with stops just below previous lows and targets at 1.4568. I chose this target because overall big picture trend is down. I believe in the near future, in the coming weekly price will violate major structure support. I will be short once price violates and closes on the weekly chart.
Short
by Neeshan
Potential Bearish GartleyHey Traders, If you analyze this pair on the hourly you would notice that we have recently had a violation of structure, with that said we are unable to confirm a bearish bias till we get that 123 move. However, if price action rallies than there is a trading opportunity to short this market at 0.68367 using an advanced pattern strategy called the Gartley. For traders that are aware of this strategy will know that we enter multiple positions, one target taken off at 38.2 retracement and other at the 61.8. I cannot advise where your stops should go that is down to individuals risk management but all I can say it requires to be above the X leg. Have prosperous week traders, keep tuned for more trading opportunities.
Short
by shah-n