Butterlfy
AUDCAD - Multiple Advanced PatternQuite a few potential patterns here on the 60m AUDCAD chart - bearish cypher pattern, bearish butterfly pattern and bullish bat pattern. Depending on which of them complete there may be an opportunity to go long or short.
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(4h) Bullish Butterfly @127% (it can extend for Divergence)FX_IDC:CADJPY
I can wait for divergence at lower time frame, following the 2h chart
Safe Trades;
POTENTIAL BULLISH BUTTERLFY PATTERN FORMING ON AUDUSD 15 MA nice potential Butterfly pattern forming on the 15M chart of AUDUSD, I´m on a short position on structure retest along the finish of the CD leg. The first potential PRZ @ the 1.27 extension of the XA leg and the second limit @ the 1.618 extension at previous structure lower low. Targets will be based on the RZ.
Potential reverse zond for brent oilBrent oil forms a similar structure with CLM2016 (us oil contract at June):
1) Retrace 0.618 of last bearish wave and came to a big resistance zone
2) A wedge pattern forms for the retrace;
3) A butterfly harmonic pattern was completed;
4) A divergence was shown on the indicator;
It is a nice selling setup with SL at around 44.1 and TP at around 40.6;
Note: If the price breaks out of the resistance zone, this analysis will be invalid.
Good luck for everyone!
xauusd_ Riding the correction waveAfter breaking the ascending channel to down and the price failed to make higher high higher close level , which potentially indicate we will expect to see bearish trend , having said that we can see now a descending channel become clear and the trend keep doing lower low lower close , so expected bullish move at the mentioned zone up to the upper descending channel which may be will be good opportunity to be short position.
USD/JPY H4 - Long setup - B-Fly patternPattern complete, waiting for:
- Bullish divergence, and
- Reversal bar pattern inside PRZ
This is what I see on D1 chart (Bearish ABDC pattern projection + bullish divergence)
WTI OIL wave4Trade1: Short@41.3, stop@40.01, done
Trade2: Short@40.5, sell stop@41.2, target@36.5
Trade3: Short@39.5, sell stop@40.2, target@35
Trade4: Long@34.5, buy stop@33.8, target@45&46
dont ever think about long at this momenttry short if bounce above 16.00(16.05/10)
target:15.50/60, 14.90/15.00
Bullish trading scenario - Butterfly patternPrevious setup in $GBPNZD resulted with a huge daily rally from AB=CD pattern completion to 2.24 which was my final target zone.
2.23-2.24 is daily structure zone (currently resistance).
Since then, the price pulled back and formed what could be an aggressive C entry (bullish) for a bearish Butterfly pattern.
Basically the scenario suggests that $GBPNZD will complete bearish Butterfly pattern near its 200 SMA line (shorting opportunity near 2.27).
Aggressive traders can try and buy GBPNZD between 2.18 and 2.2 (based on smaller time frames) and aim for 2.24 and 2.27 as swing trading target options.
Conservative traders should wait for GBPNZD to break above the 50 SMA line and than place a stop loss below the Fast SMA line with anticipation that these two MAs will act as sufficient support lines in GBPNZD way up (this is the scenario I'm showing in the chart with 1.5 R/R)
Tomer, The MarketZone.net
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Bullish Butterfly with triple bottom on Aussie$AUDUSD's bearish 3 Drives pattern generated a 500 pips move and pushed $AUDUSD back to previous daily support zone – 0.69
The price completed a bullish Butterfly right on the daily support zone, creating a triple bottom with harmonics bullish combination setup.
It would be wise to wait to see the price stabilizing inside the support zone before trying to trade this potential bullish scenario. Right now we see some bounce in Aussie from the support zone.
Look for intraday or daily price reversals near 0.68-0.69 that may indicate that Aussie will head towards some correction move against the Dollar.
0.7, 0.71 and 0.715 are potential target zones.
Stop loss should be at least below 0.685 (assuming the price stays above 0.69)
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Tomer, The MarketZone
How to choose your entrySo I will be looking for the zone ( green box ) if we get to it on Monday.
I do not trade the butterfly on its own but i will use it as my Entry technique. We have a butterfly with the ABCD and some Fib clusters running into my Support area or Zone so i will be keeping an eye out. This is an example on how to choose your entry if you have your zone but you need a reason.
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UPDATE #1: TRADE: BUY@.72567 AUDUSD: Triangle completionOne thing is obvious. This pair is consolidating. Lots of back and forth. So much so that now I can see yet another triangle forming within the larger POTENTIAL triangle. And the recent price movements have also led to a POTENTIAL butterfly pattern as well. This butterfly would finish somewhere above the upper TL of the larger triangle slightly above where the POTENTIAL bat would complete. IF prices get there. Which at this point, is unknowable.
What I have done is to move my TP1 to the completion of that POTENTIAL smaller triangle while making the completion of that larger triangle's point 5 as the TP2. Stops for this trade have not been moved as of yet. They still are below the point 4 of the larger triangle which is also the origination point of the bat.
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Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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