Harmonicmoves
Bearish leg of a cypher patternNice opportunity for the short side if the B to C leg completes just closed below the 618 fib line its also broke a lower close low candle, could see a nice risk reward on this I've got 1:5 risk reward on this trade I will also be looking for the long side after (if) the C leg reverses in the zone and then I would look to target the C-D completion.
USDCHF - PRZ at $0.9460 - $0.9470Bullish bat pattern completes on USDCHF at around $0.9460/70.
The slide should continue this week, but I will be actively looking for bullish clues to go long when it hits my PRZ.
Will be aiming for the 0.618 retracement of the AD leg for profit taking around $0.9610.
SL will be just below the X point at $0.9410.
Countertrend! Wait for a little longerIt might very well be that Price will retrace after this recent impulsive Swing-Breakout.
But... there is a more significant Swing-High Resistence waiting above + the RRR will be much better.
Knowing that ABCD like movements often set up exactly like this:
1. Impulsive move "though" Highs/Lows
2. Some wedge or triangle consolidation
3. Another impulsive move for +/- the same length than the first move
If price does not retrace significatnyl and then continues rallying into the next red area I'll be definately looking for a countertend trade
EURJPY SHORT - BEARISH BAT PATTERN - 4HR EURJPY
Looking to hit a key resistance level around 125.680
Bearish bar pattern also completes at point (D) on my chart
Trendlines created channel that could be broken out from In a bullish move before the reversal begins around point (D)
TP 1 at .381 Fib Level
TP 2 at .618 Fib Level
Once price reaches TP 1, drop stop loss into profit to protect capital from loss.
H1 Bearish Butterfly Harmonic PatternI'm only a newbie, but this looks like a Bearish Butterfly on the hourly chart to me. The Fibonacci retracements of AD line up nicely with previous important levels.
If price reverses in the Potential Reversal Zone, I believe these targets could be hit:
Target 1 | 0.382 AD (1.12155) | R/R = 2.56
Target 2 | 0.618 AD (1.11741) | R/R = 4.15
If price drops below 0.618 AD, the following targets might also be attainable:
Target 3 | 1.000 AD (1.11741) | R/R = 6.71
Target 4 | 1.618 AD (1.09985) | R/R = 10.85
Target 5 | 2.618 AD (1.08829) | R/R = 17.75
If there is no reversal, price might rise to around 1.16 (and then reverse big time...)
Is it going to hit 160$... or 130$Apple's is looking strong as we are heading to earnings.
Since it broke the neck line of an Inverted Head and Shoulders pattern that I've mentioned to my Elite Zone members before its previous earnings, AAPL didn't look back.
It looks like AAPL is heading towards the PRZ of a bearish Crab pattern near 160$
Will it reach there? Well... that's depend on its earnings.
7-8% rally in AAPL is such a bullish market isn't something that will surprise me...but still AAPL will have to come up with exceptionally good report to be able to push all the way up there.
The other option, in case of a bad report, is that AAPL will take a break and retrace towards 130$ - Previously was resistance, now should act as support.
What are your thoughts about AAPL?