Classic Symmetrical Chart pattern had a break out earlier. Price has now retraced to retest. Expecting an impulse to the downside. Want to see price touch a bottom boundary of downward triangle.
Spotted this harmonic chart pattern, going to open my trading week with taking this one. Low risk. I always start off week slowly and build momentum as week progresses. Happy Trading.
Going to watch this pattern completion and see if it offers opportunity to short.
Identified Butterfly Pattern - Possible Short
Adding to my watchlist for coming week. If Gartley fails and goes past X point then Butterfly comes into play. Happy Trading
EURGBP appears to be developing a possible Butterfly Pattern. If that is the case (only time will show), then PRZ projected to be as follows: PRZ = 0.86141 - 0.86496 1.272XA = 0.86339 2.24BC = 0.86354 2.00BC = 0.86496 1.00ABC = 0.86141 I would look to go long at PRZ, subject to new information (trend, momentum, sentiment) at the time of pattern completion. But...
Another learning experiment for me and perhaps a money making opportunity for someone out there. Happy trading.
I don't usually trade harmonic chart patterns off the lower timeframes. So don't take my word for it on this one. Publishing for two reasons: to see how it plays out (learning) and in case if someone out there is interested in these sort of short term set ups
Trading a possible CD leg development for possible ABCD pattern on 1H time frame. This is a speculative trade so I don't usually risk much on it. Logic is that point C is a retracement pivot point which ensues an impulse wave in direction of trend (in this case down) and will exhaust itself at projected D point. I take this sort of trades only in direction of my...