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Harmonicmoves

USDCNH | Perspective for the new weekIt has been months since I published any speculation as our last publication on this pair saw us bag over 1,000pips ( see link below for reference purposes). China is on the brink of launching its CBDC - Digital Yuan. To facilitate its smooth launch, the digital yuan had to undergo several testings. In line with this, the government in Shenzhen, a metropolis in China, has disclosed plans to distribute 20 million digital yuan (approximately $3 million) to the city’s residents... This could be an exciting development for investors as the Yuan continue to rise against the Greenback in recent times. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Trendline | Harmonic (AB = CD) Observation: i. Y6.95000 level remains my key level as this zone shall be the yardstick for selling opportunity in the coming week(s). ii. Successful Breakdown of Key level at the beginning of the new year is a sign that the Yuan will continue to appreciate. iii. Presently experiencing traders profiting from the boom that began the year, a correction into 61.8/78.6% is on my radar for a trading opportunity. iv. Suspected ABCD pattern parameters explained below; a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is at 61.8% currently (with a possible 78.6% in the future) Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move. Trading plan: SELL confirmation with a minimum potential profit of 1,000 pips. Risk/Reward : 1:3.5 Potential Duration: 10 to 20 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
NZDCHF | Perspective for the new weekTwo Bullish engulfing candles saw price broke out of a key level @ Fr0.62950 on Wednesday to set the stage for an opportunity to go long as price settles back into this level for momentum. Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand Observation: i. Bullish Trendline: A visual representation of support level as the line is drawn under pivot lows showing the prevailing direction of price. ii. Decline in price that began in Nov. 2020 found bottom @ Fr0.62330 to initiate a reversal structure that led to Breakout of Fr0.62950. iii. the expectation of an "AB = CD pattern" shall be a guide in the coming week. iv. ABCD pattern parameters explained below; a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is at 61.8% currently (with a possible 78.6% in the future) Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move. Trading plan: BUY confirmation with a minimum potential profit of 80 pips. Risk/Reward : 1:4 Potential Duration: 1 to 4 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
1
USDCAD | Perspective for the new weekWith over 380pips in our direction since my last publication on this pair (see link below for reference purposes); It appears we still have a few more pips to mop as the appearance of a Bearish Rectangle pattern dictates the prevailing direction of price... The risk of further decline gains momentum! The USD/CAD pair gained some positive traction during the mid-European session on Friday and climbed to around the CAD1.27910 which was followed by sharp rejection of this level. As I anticipate making CAD1.27910 my new Sell window in the coming week, the major Supply zone @ CAD1.28400 is still a zone with selling significance. Tendency: Downtrend ( Bearish ) Structure: Bearish Rectangle | Breakdown | Supply & Demand Observation: i. The risk of further decline in the week(s) ahead is still strong as price-action is caught within a Bearish rectangle pattern. ii. Presently, price action is hovering around 61.8% retracement of AB leg with indications that it might evolve into a Harmonic (AB = CD) pattern in the coming week(s). iii. ABCD pattern parameters explained below; a. Leg A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is currently hovering at 61.8% (with a possible 78.6% in the future) Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move. iv. Breakdown and retest of Demand zone @ CAD1.27000 shall inspire a second position. Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:3 Potential Duration: 1 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
AUD/CAD : BEARISH DRAGON PATTERN + MACD DIVERGENCE 🔔Welcome back Traders, Investors and Community! Analysis of #GBPCAD If you have found this useful then help us support my page by hitting the LIKE button. If you are not subscribed yet then please feel free to follow my page for daily updates and ideas. Thank you It means a lot to us! *** Strategy: BEARISH DRAGON PATTERN + MACD DIVERGENCE A clear chart is Always the best business card for a trader. *** Your support and feedback will always welcome Thank you for your time. The information contained herein is not intended to be a source of advice or credit analysis Regards, Walter
Short
by FOREXN1
CHF/JPY : BEARISH GARTLEY PATTERN - POTENTIAL R/R 2.69 🔔Welcome back Traders, Investors and Community! Analysis of #CHFJPY If you have found this useful then help us support my page by hitting the LIKE button. If you are not subscribed yet then please feel free to follow my page for daily updates and ideas. Thank you It means a lot to us! *** Strategy: Bearish Gartley With potential Max R/R 2.69 A clear chart is Always the best business card for a trader. *** Your support and feedback will always welcome Thank you for your time. The information contained herein is not intended to be a source of advice or credit analysis Regards, Walter
Short
by FOREXN1
2
CHFJPY | PERSPECTIVE FOR THE NEW WEEKCHFJPY price made a strong bearish move rejecting a Key zone around Y116.000 to propose a possible ABCD pattern in the future. Tendency: Downtrend ( Bearish ) Structure: Retracement | Supply & Demand | Harmonic (AB = CD expectations) Observation: i. Inability of Price to break above Y117.500 in Aug & Sep 2020 has led to a Reversal pattern that points down. ii. ABCD pattern is sighted with parameters explained below; a. Impulse A-to-B will be in harmony with the potential C-to-D leg. b. The B- to-C leg is at 61.8% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move. Trading plan: SELL confirmation with a minimum potential profit of 350pips. Risk/Reward: 1:4 Potential Duration: 10 to 20 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
USDCAD | PERSPECTIVE FOR THE NEW WEEKSince the price moved 250pips in our direction since my last publication on this pair; the USD/CAD gained downside momentum and is trying to settle below my Key zone at CAD1.3200. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Harmonic (AB = CD expectations) Observation: i. Breakdown of CAD1.32500 zone on the 7th of Oct. was followed by significant rejection of level on Thursday & Friday signalling a possible downtrend continuation. ii. In this regard, an ABCD pattern is sighted with parameters explained below; a. Impulse A-to-B will be in harmony with the potential C-to-D leg. b. The B- to-C leg is at 61.8% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move. Trading plan: SELL confirmation with a minimum potential profit of 150pips. Risk/Reward: 1:4 Potential Duration: 3 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry