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Structurebasedtargets

Bullish Flag on the Daily GBPJPYHere are my Thoughts for the coming weeks. Lots of good Fibonacci confluence, to many levels lining up to be ignored imo. So to start we have some basic patterns forming Bullish Flag, we have had out impulse leg up and come back to the 382 retracement which lines up with previous structure resistance which could turn support. The flag could do a, a,b,c,d Harmonic move which does line up with the 1.618 of a fib extension. The 1.27 level of this extension also lines up with the 1.618 of the fib inversion. looking at the weekly highs and doing some fib retracements we have a 618 and 786 also line up with the 1.618 and 1.27. This general area was a previous are of structure support. We are also in the Oversold area RSI Lost yet? for me lots of little bits lining up which is building a strong case to the upside There are a couple of key levels In Blue which are going to be areas to watch if price moves up. Of course it could retrace further to the downside. Good luck and Trade Safe
Long
by Wonour
USDCAD some Possible Patterns on the DailyThis Pair is currently in a stong Bullish trend which will most likely continue, however i feel we will see an outside return soon. I can see we have 2 possible advanced Patterns forming on the Daily timeframe. A Bearish Gartley is possible, D completion does line up with some previous structure which could act as resistance, however this was broken last time. Also the RR for the pattern is only really 1:1 if you're going for the 618 target. The second possible pattern which also has a better RR is the Bearish Bat, D completion is around the area where we really saw the pair drop at the beginning of the year. The stop would be at previous resistance, the pair tried to push past this level but couldnt so for me this is a safer area. All imo of course and will see what happens
by Wonour
USDCAD Bullish Bat / possible 2618So 2 things im looking at the will coinside with each other First a Bullish Bat has formed off the back of the Bearish Gartley pattern so although we have passed the D point looks like we are coming into a previous level of support. so risk has been reduced and offers a good RR for this pattern to take the trade 382 and 618 targets. If we do see a rise the second target would also be the entry point for a short for a 2618 trade and the fact we can see the RSI in the oversold area lots of reasons as above :)
Long
by Wonour
Gold reversal at 161.80% extension? Wait for the re-testNon-Farm was lower than the last month (see last gold post) and we have filled our buy targets right on the money as Gold is now struggling as Fib extension 161.80% with a failed break and close below this level Friday. Gold has scope to go higher however it'll need to close above Friday's high to confirm this. Right now any failed re-test of the blue zone is a prime selling opportunity with stops above the last high. The downside is supported by the fact the Dollar Yen finished higher so global risk sentiment is not bearish against the dollar even with the lower pay rolls read.
FX:XAUUSDShort
by Elliot_Myers
GBPJPY Will it Hit the 618? Ben watching this Bearish Flag take shape and as it stand sits currently bouncing inside this channel. If we are looking at possible places to enter I would be looking at either a break down below the trend line on the higher time frames or a possible rise up to the 618 area and then look for bearish structure to go short. As it stands I called it wrong and the price has continued to rise, however we are now lookign at teh oversold area of the RSI but It could bounce around for a few more days / week before a confirmed change in trend
by Wonour
USDCAD - Some additional reasons for going longThis is basically an addition on my previous publication on this pair confirming the setup and adding additional reasons, building the case why we might see a reversal here. Previous published idea : Agree with this idea ? Thanks for giving me the thumbs up by clicking the like button. Have another view, have questions, comments ? Feel free to share it below ! More ideas like this ? Click the follow button to keep updated when I publish new ideas or update already published ones.
Long
by Nico.Muselle
14
USDCAD - Almost reached targets - Preparing for reversalUSDCAD is really becoming my favorite pair ! When you look at my previous idea for this pair in which I predicted the drop to the 1.34 area, you can see that 75% of the drop has already been reached and in my opinion there is not much that can keep it from dropping further to the predicted level. Around 1.34 we have a previous resistance level which should now (at least temporarily) become support and we should see a bounce. The stop loss is defined by the bottom of the price action defining that resistance level. I have defined 2 target areas for the upward move : TP1 is the current price level where there is a (small) shelf, if we bounce this should be easily reached. This target presents us with a 1:1 risk reward ratio and a potential profit of around 110 pips. TP2 is a previous support level on this time frame around the 1.3650 area, this is almost a 2.3:1 RR ratio a potential pip profit of around 250. Agree with this idea ? Thanks for giving me the thumbs up by clicking the like button. Have another view, have questions, comments ? Feel free to share it below ! More ideas like this ? Click the follow button to keep updated when I publish new ideas or update already published ones. Thanks for your visit !
Long
by Nico.Muselle
16
EURUSD: TWO HARMONIC ABCD MOVES COMPLETED @ PRZ !!!Hello Traders, Here we got a really nice setup on EURUSD , which includes 2 harmonic ab=cd moves completing right at potential reversal zone (PRZ), which includes Fibonacci retracements and extensions, as well as strong support level. Notice we are also getting bullish RSI divergence at this current level. Market is sitting right at the entry point, so this is a long setup at market price. I am shooting for the structure based targets (marked by green horizontal lines). Stops go under the previous structure higher low. 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 :) Follow me on Twitter10.97% as well: moneymaking2016
Long
by moneymaking