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Harmonictraders

🚀💲Unlocking Profit: USD/JPY 1H Setup with Bullish GartleyTraders, here's a golden opportunity you won't want to miss on the USD/JPY currency pair, with a focus on the 1-hour timeframe. 📊💰 📌 Technical Analysis Highlights 📌 🔷 Bullish Gartley Pattern: The price action has beautifully formed a bullish Gartley pattern, suggesting a potential uptrend reversal. 🔷 Double Bottom Formation: Point D (the reversal point) has already been established, with a bounce from a key support level and a clear double bottom formation - a strong signal for potential bullish momentum. 🔷 RSI Indicator Confirmation: Adding more weight to this setup, the RSI indicator has confirmed this scenario with a massive bullish divergence, signaling a potential upward price movement. 📈 Trade Strategy 📈 Considering these strong technical signals, the optimal trading strategy would be to go long (buy) from the current levels. Place your stop loss just below the key support level to manage risk effectively. 🎯 Take Profit Zones 🎯 1️⃣ First Target: 146.000 2️⃣ Second Target: 146.500 3️⃣ Ultimate Target: 147.200 Remember, trading involves risk, and it's essential to perform your own due diligence and risk management before entering any trade. Good luck, and may your trades be profitable! 🌟📈💵 Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you think this insight was helpful 🌊🚀
Long
by Thomas_Zito
5
USDILS Butterfly patternWe have the Butterfly pattern To trade a bearish Butterfly pattern, place your sell order at point D (the 127% Fibonacci extension of the X-A leg), position your stop loss just above the 161.8% extension of the X-A leg and place your profit target at either point A ( aggressive) or point B (conservative). Short entry Stop loss Conservative profit target Aggressive profit target summary In this lesson, you have learned that … ... the Butterfly is a reversal pattern that allows you to enter the market at extreme highs or lows. ... it is similar to the Gartley and Bat patterns but the final C-D leg makes a 127% extension of the initial X-A leg, rather than a retracement of it. ... to trade the Butterfly, enter the market with a long or short trade at point D of the pattern - the price should reverse direction here. ... place your stop loss just below (bullish trade) or above (bearish trade) the 161.8% Fibonacci extension of the X-A leg. ...for an aggressive profit target, place your take profit order at point A. ... for a more conservative profit target, place your take profit order at point B.
Short
by Abukhaledsay
EURUSD | Hidden Bullish Divergence | AB=CDEURUSD is currently at a strong support level, and it has tested a highly robust support zone before starting to move upward. Additionally, there is a Hidden Bullish Divergence observed on both the 1-hour and 4-hour timeframes, indicating a potential reversal zone (PRZ). Furthermore, a completed Bullish Harmonic Pattern AB=CD has formed, and this pattern coincides with the PRZ zone. The EURUSD pair has reached a significant support level and has shown signs of a potential bullish reversal with the presence of Hidden Bullish Divergence on both the 1-hour and 4-hour timeframes. Moreover, the completion of the Bullish Harmonic Pattern AB=CD at the same PRZ zone further reinforces the possibility of an upcoming bullish price movement. However, it's important to exercise caution and conduct further research and analysis to confirm the validity of these indications before making any trading decisions. Market conditions can change rapidly, so staying informed and considering multiple factors is crucial for successful trading.
Long
by awaisulabdeen
4
📉FETCH.AI --> 0.21$ then 0.18$ 📈BINANCE:FETUSDT COINBASE:FETUSD Hello Traders, please check out my previous ideas. If the price stabilizes above the red area, the short scenario won't be fulfilled. targets are on the chart. optimum stop-loss is above the 0.2561 level. ✌💥If you are satisfied with my analytical content, please share my ideas💥✌ ✍🐱‍👤Otherwise, make sure you leave comments and let me know what you think.🐱‍👤✍ 🤑🍾Thank you for your support. I hope you will gain profit by following my analyses.🍾🤑 CrazyS✌
Short
by CrazyS
4
📈AUDUSD Bullish Gartley Pattern: Time to Ride the Trend! 🚀Hey fellow traders! There is an exciting setup on the AUDUSD forex pair in the 4-hour timeframe. Let's dive into the details and explore the dynamics between buyers and sellers. 🐻 Sellers' Struggle: Price has formed a bullish Gartley pattern, indicating a potential reversal in the downtrend. During the recent downtrend, sellers were in control, pushing the price lower. However, as we approach the completion of the Gartley pattern, sellers are facing increasing resistance from buyers stepping in to defend crucial support levels. 🐂 Buyers' Resurgence: The formation of the Gartley pattern is a testament to the buyers' resurgence. They have been gradually regaining control, leading to the price forming higher lows in lower timeframes. Now, as we witness the bullish Gartley pattern's completion, buyers are expected to strengthen their positions and propel the price upwards. 💹 Technical Confirmation: The EMA 9 and 21 have crossed over, signaling a bullish trend reversal. This crossover adds to the confidence in the buyers' ability to push the price higher. Additionally, the RSI breaking above the 50 level confirms the growing bullish momentum and adds further weight to the buy signal. 🎯 Profit Targets: To capitalize on this opportunity, I have set my take profit levels strategically. My first take profit is set at TP1 = 0.6800, which aligns with a significant resistance turned support zone. TP2 = 0.68500 is my next target, considering the potential for a strong bullish move. Finally, my ultimate target is set at 0.69000, aiming for a breakout of the previous resistance level. Remember, successful trading requires proper risk management and sticking to your trading plan. 🛡️ Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful 🚀
Long
by Thomas_Zito
14
🐻 Bearish Setup Alert:Harmonic Pattern Signals Sell OpportunityThe bearish setup on EURUSD is looking promising as price action reveals a potential trend reversal. A harmonic pattern, specifically the completion of the leg CD of a bearish bat pattern, indicates a high probability of a downward move. Moreover, a bearish engulfing candlestick pattern formed recently, reflecting increased selling pressure. Adding to the bearish case, the imminent crossover of moving averages suggests further downside potential. With these technical factors aligning, it's an opportune time to consider shorting EURUSD. For potential profit targets, we can set our sights on 1.08500 as the initial take profit level. Further downside targets include 1.07800 and 1.06900. It's important to monitor price action closely and adjust take profit levels accordingly. Stay tuned for updates as we track this bearish setup. Happy trading! 📉💰 don't forget to press the like button if you think this insight was helpful 🚀
by Thomas_Zito
1
GOLD: awaiting the FOMC decisionIn a few hours we will know if FOMC decides to raise interest rates by 25bp or if there will be a pause in monetary policy. Having said that, if we look at 1H chart we still have the same technical structure (see analysis below), which is still valid at the moment. With this in mind it would be great if TVC:GOLD triggered a swing as shown on chart (first bearish then bullish), I say that because I really like the Pin Bar at 1,971 . What will happen on gold market? In the short term it's hard to say, but today's session will certainly be our driver for a few sessions/weeks. PREVIOUS ANALYSIS (Click on Chart below) FUNDAMENTAL ANALYSIS (Long term) (Click on Chart below) PRE-FOMC ANALYSIS (Click on Chart below) Trade with care! Like 🚀 if my analysis is useful. Cheers!
OANDA:XAUUSD
by TheAnonymousBanker
3
GBP/USD Faces Correction Amid Potential Reversal Zone IdentifiedGBP/USD Retreats from Highs, Holding Ground Below 1.2600 Level in Early European Trading GBP/USD, after reaching its highest level since May 10 near 1.2570 earlier on Friday, is currently struggling to gain upward momentum and has entered a consolidation phase during the European trading hours. The pair has edged lower, defending minor bids below the 1.2600 level. The US Dollar is maintaining its recovery gains, supported by a cautious market sentiment. The focus remains on the upcoming US Consumer Price Index (CPI) data and the Federal Reserve's decision. On Thursday, the US Dollar faced significant selling pressure as the US Department of Labor's weekly report indicated an increase in Initial Jobless Claims to 261,000 for the week ending June 3, up from 233,000. This data highlighted looser labor market conditions, leading to a retreat in the 10-year US Treasury bond yield, which had previously seen gains following the unexpected rate hike by the Bank of Canada. Consequently, the US Dollar Index declined by more than 0.7%, reflecting the negative impact of the jobless claims data on the currency's performance. Meanwhile, major US stock indexes closed higher. In the European session, US stock index futures are trading mixed, and the UK's FTSE is showing modest gains. If risk sentiment does not continue to dominate market dynamics in the second half of the day, investors might refrain from betting on sustained weakness in the US Dollar ahead of crucial inflation data and the Federal Open Market Committee (FOMC) policy meeting next week. This caution could limit further upward movement in GBP/USD. Considering Thursday's significant rally, market participants may also opt to secure their profits, resulting in a downward correction for GBP/USD. Notably, in the H4 timeframe, a recognizable Gartley Harmonic pattern has emerged, indicating that the price is currently in a potential reversal zone. This pattern could present an interesting option for traders to consider.
Short
by FOREXN1
18