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Patterntrading

NZDUSD - 4HR - Potential Bearish Butterfly & Cypher FormationsWe have 2 potential bearish pattern formations setting up here on the NZDUSD 4 Hour Timeframe. A potential Bearish Butterfly (in purple) & a potential bearish Cypher (in blue). The completion zone for both of these patterns line up at a retest of previous structure highs (for the butterfly specifically) proving a good shelf to place protective stops. I hope you guys have a great week of trading. Another pretty heavy week of news releases so stay safe out there! Your Trading Coach - Akil
Short
by Akil_Stokes
6
CADJPY - 4 HOUR - A Butterfly Pattern That I Actually LikeYou don't see me post a lot about the Butterfly Pattern or any of the others that have a "D" Completion point beyond the "X" leg because they don't fit within my philosophy & how I value structure. With that being said I don't dislike the pattern, infact it's one of my favorites from a price action psychology perspective (which we won't get into here). But what makes this potential Bearish Butterfly Pattern stand out is the fact that we wouldn't have to have a blind stop loss because the D completion actually lines up with a higher timeframe level of structure looking left. This adds more confluence to the opportunity whether you're a butterfly trader or a structure playing looking to build your CTS score at that level. Either way I think it's a decent opportunity to look for shorts. If you have any questions or what to leave any comments about this idea please do so below. Also, don't be shy about sharing how you view this pair as the more ideas we have the more newer traders get to learn. Your Trading Coach - Akil
Short
by Akil_Stokes
3
USDCAD - 1 HOUR - BULLISH GARTLEY - A LOOK AT SECONDARY CHANCESBefore the close on Friday we saw the completion of a bullish Gartley pattern here on the USDCAD at 1.3054. Price immediately pushed down (causing us to adjust our targets) before closing slightly higher to end the week. For those who didn't have a chance to get involved in this opportunity, there are 2 ways that you can still do so. 1) Let a buy limit order at the original D completion price & IF price works it's way back to that level THEN you'll be filled at the same price were supposed to be filled at anyway. 2) Wait for a more conservative entry such as a retest of the lows & a hold. This is called a Double Bottom and it would provide more confirmation than the limit order that price is likely to hold that level. As always if you have any questions, comments, or just want to share some feedback or your ideas, please don't hesitate to leave them below in the comment section. *There's also a bigger potential bullish cypher on the 4h hour chart. I'll link that idea below* Your Trading Coach - Akil
Long
by Akil_Stokes
USDCAD - 4 HOUR - POTENTIAL BULLISH CYPHERHere on the USDCAD 4 Hour timeframe we have a potential bullish Cypher Pattern setting up. Not shown on this chart, but if you look left we've just run into a zone of previous structure support around the 1.30 level & my higher timeframe analysis sees this as a level in which we may see a bigger reversal than just the small relief that is usually expected from pattern trades. *In another post I'll share the at market Gartley Pattern that we have on the hourly chart* As always if you have a questions, comments or just wanted to share your idea on this pair please do so below! Also how about those Everton signings! :-) Your Trading Coach Akil
Long
by Akil_Stokes
2
GBPAUD - 1 HOUR - MULTIPLE PATTERN FORMATIONSWhen the market is in consolidation (not trending/between trends) a lot of people tend to shy away because there is no clear directional movement. This is true, but it doesn't mean that there aren't trading opportunities available. If you're an advanced pattern trader then periods of consolidation are times when you need to be on alert for setups as they are typically plentiful. In this example, we have no idea on which way price is going to ultimately go, but as you can see, whichever way it does, there will be a potential opportunity to take advantage of. Wishing you the best today in the markets & as always if you have any questions, comments or just want to share your view on things please leave it in the comment section below & I'll be sure to respond. Plan Your Trade, Trade Your Plan! Your Trading Coach - Akil
by Akil_Stokes
6
ESP35 - Bearish Gartley In Bigger Bear Pullback SetupI just started watching this index a few days ago after one of our live room members brought it up, so I have zero understanding of it's personality. Now I know that may seem dumb to many of you but it's actually very important since different setups perform differently depending on the markets personality. (THAT'S WHY WE BACKTEST) But last week we broke a pretty decent level of structure support & we were waiting for a retest of that previous support turned potential resistance to be used as a chance to hop on a bearish pullback trade to the downside. After some consolidation, we've no put in a bearish Gartley pattern which can be used as an aggressive reason to enter the aforementioned pullback trade. Akil
FX:ESP35Short
by Akil_Stokes
2
STRONG DAILY EVENING STAR IN EUR/USD, real or fake ?As you can see in EURO/USD there is a very strong daily candelstick pattern which you know it as a EVENING STAR! What is an EVENING STAR? An Evening Star is a stock-price chart pattern used by technical analysts to detect when a trend is about to reverse. It is a BEARISH! candlestick pattern consisting of three candles: a large white candlestick, a small-bodied candle, and a red candle. so clearly we have a fight between bulls and bears in euro/usd : Fundamental view: as you know euro has very strong bullish fundamental news rather than US and the factors effecting on USDOLLAR during opening economics after pandemic , not very intresting for SELLERS ! so now what is my idea ? im searching for short-term intraday in euro/usd because its too soon to tell you about changing the trend in euro/usd. I expect to see euro/usd bulls at first hours of next day trying to raise the price somewhere between 1.1820 - 1.1850, then bears come and use good sell situation and price falls 1.1720-1.1700. important demand area for euro/usd bulls : 1.1720-1.1700
Short
by FOXofFX
GOLD | XAUUSD | Log Time Pattern Analysis (Since FEB 2019)This is a representation of all major pattern trade occurrences in Gold since February 2019. Each 👍 represents a winning trade and each 👎 represents a losing trade. (Only found 2 losing trades since Feb 2019) And the good news is that price is on the way to another winning trade right now!! Look inside to see yourself 👍 Disclaimer : This is just a representation of my personal trading analysis and should not be considered as any financial advice. Trade at your own risk.
FOREXCOM:XAUUSDLong
by Sankapathum
1
NAS100 - 4 Hour - Bat Pattern Within High & Tight Flag PatternIt's hard to show the bigger & smaller picture here without having a very ugly looking chart, but the NAS100 has been bullish lately & is now forming a sideways channel at the end of it's last extension higher. This formation is called a high & tight flag formation & it's one of my favorite setups for breakout/Continuation trading. Something that we also know is that Advanced Pattern formations often form during periods of consolidation in the market & what we currently have forming is a potential bullish bat pattern with a completion point towards the lower end of the channels range. Entering at the bottom of the range is risky because it doesn't provide confirmation of a bullish breakout, but what it does provide is an opportunity to create an excellent risk to reward situation. Because this is an index (which is typically more directional) I look at a conservative target being the retest of the channels highs & using an active trade management method to trail stops while you look to be involved in the continued move higher. I hope you guys have a great weekend & as always if you have any questions, comments or just want to share your analysis, please leave them below. Your Trading Coach - Akil
OANDA:NAS100USDLong
by Akil_Stokes
Rectangle Top (bullish)CURRENT CONFIDENCE = 68% TARGET (EXIT) PRICE = 9.723198 HKD BREAKOUT (ENTRY) PRICE = 9.685407 HKD DISTANCE TO TARGET PRICE = 0.21% (206.8 pips) Tickeron AI shows that thee Rectangle Top pattern forms when the price of a pair is stuck in a range bound motion. Two horizontal lines (top: 1, 3, 5) and (bottom: 2, 4) form the pattern as the pair bounces up and down between support and resistance levels. Depending on who gives up first ­ buyers or sellers ­ the price can breakout in either direction. This pattern is commonly associated with directionless markets. Usually, the pattern performs better when there is a strong uptrend leading into the formation.
Long
by AlTorress