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Potentialreversalzone

Dare to Go Against Trend ?? Yeah, GBPUSD, if my conditions MetThere are many traders out there who are anxious about going against the Trend, bcos they are unsure whether that works. Well, Today I got one scenario in GBPUSD where going against the trend can be profitable , only if market reverses in our marked Potential Reversal Zone. See how markets moved in Harmonic move thrice and yes, there is an ABCD pattern which I didn't mark for clear view of chart. Fib Confluence also happening in the zone and if Double Top forms there I will be going short in GBPUSD Check your Rules and Trade... Happy Trading ! Hit Likes for Agree which is boost for Me :)
Short
by InsiderB
EURGBP Potential reversalEURGBP could be facing a potential reversal, looking at all the signs. I have explained the crucial areas on the chart, but I will go over it in more detail. On chart: As we can see, the pair is closing in resistance at 0.8, which is working as a strong resistance, but due to it being a physiological level, but also because it has held multiple times throughout the charts timeperiod. However if the resistance is broken, then we have the TL from 2011 and Fibonacci 61.8 as the next two levels the price need to challenge. After that we have the TL from 2008, which is fairly strong. The price is moving towards Fibonacci 61.8, which is a strong fibonacci level. Even though the price has broken fibonacci 50, it struggled a lot at this level. The candle formed is an hanging man, which could be signaling a reversal. Indicators: RSI is close to where it was in January 2013, where the reversal from a new uptrend happened, continuing the longer term trend. RSI is also overbought, as well as struggling along the RSI resistance zone, where the price has reversed multiple times throughout the timeframe for this chart (1994-2016) MACD is at the same level it was in March 2013, when it confirmed the continuation of the downtrend. EMA 200 the price is struggling at this level, however if EMA 200 should be considered a strong resistance/support on this pair is up for question, as the pair tend to ignore the indicator. Volume has been reduced significantly. Position: Entry 1, 0.7930 Entry 2, 0.7990 SL 0.82, above TL 2011 TP 0.7 Tips: Trail the stop loss, split up your planned position to reduce your risk. Increase as the pair moves in your direction.
Short
by AndreM.Moldegard-Eriksen
CADCHF - Weekly outlookFollowing on from the Daily analysis I posted, this is the Weekly outlook. We of course don't know what's going to happen, but it's always advisable to stay ahead of the market and prepare for as many eventualities as possible. Option A The red box is the PRZ on the Daily TF. This falls short of the overall down trendline, but sits nicely in a strong Supply Zone on the Weekly TF. Option B This is where the decision point is likely to be made if we break the Lower Low on the Weekly TF. Summary Considering the strength of the bullish momentum on the way up, we've already taken out one Supply Zone (labelled 'i'). This is true to the characteristics of an advanced harmonic pattern (in this case a Daily bearish Bat formation). If we compare the strength of the buyers vs sellers at the PRZ, I'm expecting the trade to be successful, but anticipating some serious buying resistance.
Short
by JakeSummers4x
EG Bearish Bat Weekly, Great RR, wait to enter, PIPS PIPS PIPSHello Trading View, Here on the EurGBP Weekly TF we have a unique Bearish Bat that has completed. Price action has shown all necessary reversals at the required ratios, and price in the PRZ has shown signs of confirmation of trend change. Heres why this pattern is unique. VOLUME. The volume at point D was EXTREMELEY HIGH!!!!!! See Green arrow indicating said volume. This volume spike combined with the terminal price bar that tested the PRZ is SOLID CONFLUENCE....!@!?@>!?@>!>!!! We have the necessary confluence of all 5 point harmonic patterns being an ABCD pattern. This pattern is an extended ABCD pattern. C point retracing 88.6% of AB, topside projection would normally be the 1.13%, but it has completed an extended pattern around the 1.618 expansion of BC. This is an extended 1.618 AB=CD pattern as defined in the Harmonic Trader : Volume 1 by Scott Carney. Price action has retraced and beginning of this week shown a bullish gap. Expect price to fill the gap and continue to drop to the projected IPO1 and IPO2. The pound seems weak now, so Id wait for some confirmation prior to shorting. If you're aggressive short now (treating current price action as a retracement) and ride er on down. Trade safe, trade smart. -K
Short
by KumaTF
EURJPY: BULLISH HARMONIC BAT AND ABCD PATTERNS ON DAILY !!!Hello Traders, After getting stopped out on the previous long trade based on the bullish crab and ABCD measured move, we just got a completion of another two bullish patterns on the daily chart in FX:EURJPY . First of all we have the harmonic bullish bat pattern which recently got completed right at 88.6% and 127.2% Fib ratio confluence zone. By using Fib extensions on previous harmonic moves, I was able to get a PRZ (potential reversal zone) . This PRZ is located at 2015's lows, thus the stop has to be placed far enough to account for deeper movement of price action towards these lows, as well as accounting for the average true range (ATR) of this pair on the daily chart, which is roughly around 100 pips. Thus our stop placement level is 110 pips away from the 2015 lows. Next we have the bullish harmonic ABCD pattern completing right close to the 127.2% Fib extension level. This pattern is also about to be completed within the PRZ, marked on the chart above. This stops loss and target levels will remain the same for both of the bullish harmonic patterns. Do note the MACD bullish divergence , which adds into our overall bullish view on this pair. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :) Follow me on Twitter-0.04% as well: moneymaking2016
Long
by moneymaking
GBPUSD: Potential Reversal Zone for TCT BullsPotential Bullish Trend Continuation trading opportunity on the GBPUSD. To create my potential reversal zone I've used a combination of structure, market harmonics and Fibonacci tools. Also if you missed it live yesterday I posted a recording of our week 5 trading recap video on my youtube page. If you're new make & you like what you see make sure you give me a follow. If you're already following, thanks for the support and make sure you hit that THUMPS UP button in the top left of your screen. Good luck this week traders! Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company YouTube goo.gl Facebook: goo.gl Twitter: goo.gl You Can Also Follow Me On Instagram, Periscope & StockTwits @AkilStokesRTM
Long
by Akil_Stokes
6
GBPNZD: MEASURED AB=CD MOVE AT POTENTIAL REVERSAL ZONE [D]!!! Hello Traders, Here we have a measured AB=CD move that is very close to its completion point in FX:GBPNZD on the Daily time frame. Do note that the market is currently sitting very close to the Potential Reversal Zone (PRZ) which is made up of Fibonacci cluster (Fib extensions and retracement). There is no clear structure present at this potential reversal zone. The stop loss has been placed below the potential reversal zone (prz), with three targets labelled on the chart above. The first target is a minor one since no structure is present to support the 38.2% Fib level. The second and third targets are major one due to the presence of strong structure levels at both 50% and 61.8% Fib levels, respectively. NOTE #1: We are seeing bullish MACD divergence on the 4 hour time frame (see the chart below this description). But this will only become relevant once we start to see new higher highs and higher lows being formed on the lower time frames (i.e. 1 hour) and later on the higher time frames (i.e. 4 hour). NOTE #2: Do keep in mind that the overall trend on this pair is still to the downside, at least based on the daily time frame. So stay conservative with your targets and don't take this long opportunity as a buy and hold for as long as possible. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :) Follow me on Twitter as well: moneymaking2016 Illustration of MACD Bullish Divergence on 4 Hour Time Frame: Illustration of decrease on volume as the market moves towards the PRZ:
Long
by moneymaking
Long EURUSD: Huge Gartley Complete at Support + Bat + ButterflyEURUSD has completed a large Gartley pattern on the weekly TF at a very important area of support. The support comes from a trendline dating back to the year 2000 which has been tested three times and has yet to be broken in the past 15 years. This is the second time price has tested the Gartley PRZ, proving it to be a key area of support as well. To add to the bullish bias, two confluent harmonic patterns have emerged on shorter time frames. These 4H harmonic patterns provide an excellent opportunity to enter the larger TF Gartley more precisely. Possible Stop Loss and Targets: T1: Unhit pivot for November, 2015 | .618CD (Bat & Butterfly) | R:R=3 T2: Missed pivot for January, 2015 | .382CD (Gartley) | R:R=9 T2: Missed pivot for September, 2014 | .618CD (Gartley) | R:R=15 SL: Below bat point X Confluence in the PRZ: Bullish Gartley pattern completion Bullish bat pattern completion Bullish butterfly pattern completion 6 missed monthly pivots above price Strong trendline support Weekly Chart: Thank you for your continued support!
Long
by glennmercer
9
EURUSD Short: 2 Very High Confluency PRZ'sEURUSD is approaching an area of highly confluent short opportunities. I have broken the zones into 2 separate PRZ's to make the boundaries more distinct. I have a short entry at the top of the first PRZ with a SL outside PRZ2. Target placed just above the ab terminus which would coincide with .618cd. Reasoning for each PRZ is broken out below. PRZ1 Confluence: Missed Weekly Pivot Bearish Crab Completion Bearish Butterfly Completion 1.5ab=cd 1.618ab=cd 1.786ab=cd Missed Daily Pivot 0.5XA Retracement 0.5AB Retracement Bearish Knoxville Divergence Printed PRZ2 Confluence: Bearish Crab Completion 1 Bearish Crab Completion 2 0.618AB Retracement If entry is triggered and target is achieved, I will be looking for bullish opportunities around the deep crab completion level near 1.06
Short
by glennmercer
EURUSD: BEARISH ABCD PATTERN WITH GOOD RISK TO REWARD ON 4 HR !!Hello Traders, Here we have a VALID BEARISH HARMONIC ABCD PATTERN on FX:EURUSD , that recently got completed. Note that since the market is currently at the completion point for this pattern, this trade is considered to be ACTIVE now. The overall short term 4 HR trend is to the downside, with the market coming back deep into PRZ , giving us a nice shorting opportunity. The stop loss for the ABCD pattern is placed 10 to 20 pips above the 161.8% Fib extension level, which also allowed us to hide our stop loss just above the PRZ. The Risk to Reward is also favourable, 1 to 1 for the 1st target. See the chart above for more details. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
Short
by moneymaking
22