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Fibonacci Cluster

EURGBP - H1 - Short OpportunityFollowing on from successful short and a big move down after breaking through the neckline of a H&S pattern up at the recent highs, I'm still favouring a little more movement to the downside on this pair when the recent fundamentals are also taken into account. After the most recent move down, we have been consolidating in this sideways market for a few days. We seem to have broken and closed below the lows of the consolidation 'range' this morning and I would take this as a sign to get Short this pair upon a retest of that resistance line. Pretty much at market at the time of typing this up, and will likely be entering at the close of this hourly candle (provided we don't close back up above the line - seems unlikely though). For targets, I'd initially be looking to hit that zone of Fib confluence down with a 127.2%, 161.8% and bigger 127.2% extension all lining up in a similar area - I'll be shooting for a touch of the 0.8700 flat handle before closing half of the position. My second target will be a little lower down around the 0.8575 - 0.8600 level which is around the 161.8% extension of the same move we are using above, and also an area of relatively high activity looking left back through the charts. Let's see whether or not this plays out over the coming days!
Short
by bmck1
GBP/USD - Cypher formation Pro-TrendHello everyone! There is a potential opportunity here on GBP/USD, when the cypher will be complete. On the Daily timeframe (sx) we can see the price go through some important support levels, and one of them, now turn to resistence, will be in the area of the cypher's D point. We also broke the last one on our left, and that is a possibile confirmation that the price want to go lower. On the 4 Hour timeframe (dx) we can add some extra filter to the Cypher. We have the 38.2% of the last impulse move on the Daily timeframe, plus 2 extra filter on the 4 hour: A Fibonacci extension of A-B and an inversion of B-C, all pointing in the same area. We can use the PRZ for a trend continuation trade, based on the daily analysis, or we can just trade the cypher in the "classic way" with a first target at a 38,2% and the second at 61,8%. What do you guy think?
Short
by Michele_Pierro
NZDUSD - Daily - Possible Head & Shoulders pattern in progress?It looks like we could be tracing out a head and shoulders pattern here on the Daily chart for the Kiwi/Dollar. I don't usually trade the pair on the Daily timeframe, but wanted to put this idea up anyway for anybody looking at more of a longer term trade (i.e. longer than intraday/intraweek timeframes). Potential targets, if I were in this, initial target 1 would be down around the neckline of this pattern - if we see a break & close below here, then my extended targets would be down around the 0.7000 even level given the tone of the last RBNZ session coupled with some Fib confluence down around that area as well. Patience will be the key with this one I think given the current fluctuations around the USD.
Short
by bmck1
USDJPY short setup analysisUSDJPY key level - several factors lining up as potential resistance at current level, including a Fibonacci cluster zone, a bearish harmonic shark pattern, volume point of control resistance, and supply zone. A break above would invalidate the idea but with the combination of factors I'm bearish with a potential 3:1 reward risk setup If your looking to trade a proprietary account risk free, message me, we're currently looking for a few traders with some experience, training provided.
Short
by JabezZinabu
Time to go long? (AUDCAD analysis)Hi guys, with a new week ahead i want to share with you this interesting situation on AUDCAD. On the daily chart we are now testing a key structure level: as we approach that level i go on lower timeframes in order to catch an additional confirmation of the upward reaction move. As you can see on the chart i found different clues supporting my view. At first, there are two adavnced pattern formations (Bat, Cypher) already completed at this level. Then, we also have a nice oversold condition on the RSI and price has just touched the 1.618 extension of the previous downward move and the 382 retracement of the daily impulsive move. So, these are the reasons that make me think it could be a nice spot in order to seek for long opportunities, such as double bottoms, engulfings, pinbar and so on. If you want to be updated, follow me. For any questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
4
Is AUDUSD ready to reverse?Hi guys, this is the AUDUSD 4hr chart and i've been waiting for this AB=CD to complete for a long time, now the moment has come. We have an AB=CD pattern completing right at a previous daily structure level, with some Fibonacci confluence and a nice RSI divergence. If price shows us some buy signal it would be a good chance to go long and make some profit, risk to reward ratio seems pretty good. Keep you updated. If you want to share your idea about this or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
4