1. Bearish bat formation which turned out a winner, but not before putting up a fight.
I entered this one since we also had a previously tested support and resistance area.
2. If the marked decides to push the price down we could see a complete bat formation. Although Im not too happy about the bullish trendline being violated, which itself is a bearish signal....
Hi traders,
Isn't it lovely? All these completed patterns in different colours.
Anyway, one of them isn't completed yet. The orange one. I don't really like it because of the awkward stop loss. But hey, it's a bat pattern.
Entry: 113.107
Stop: 112.806
Target: 113.717 = R:RR 2.03
Good luck guys! Updates will follow.
Currently I am waiting for price to reach the upper trendline. When price reaches there watch for a clear sign of reversal. Expect an impulse. Catch the wave and ride it. Cheers and good luck fellow traders
In the previous week, price did not break down as expected. So now I am aiming towards price testing the previous high from the last year. Watch for the 87.50 level as a reversal zone. Good luck and safe trading everyone
Just as expected our 5 wave pattern has completed. Price is now breaking the ascending channel so keep your eyes out for a flag or trend continuation pattern to enter short on this pair.
Left shoulder and head have been formed on the 4H chart of @USDJPY pair.
Waiting for the right shoulder to be formed, the base line to be broken and retested then going long.
Enterance will be around 115.50.
The goal is arround 118 as it's the previous high and it's equal to the destination between the head and the baseline.
Good luck!
Hi traders,
On the EURUSD we have seen a couple of harmonic patterns today. Just wanted to make a recap of the situation.
RED: Completed bearish cypher pattern
BLUE: Completed bearish bat pattern
PINK: Potential bullish bat pattern
GREEN: Potential bearish cypher pattern
Cheers
Gold broke the ascending channel it was in not too long ago. At the current moment it looks like there is a flag forming so watch for a breakout to the downside. Good luck and safe trading.
Silver is currently holding its descending channel. At the current moment price is stuck in a corrective structure so we will watch for an impulse to the downside.
A lot of upside momentum, breaking the current up trend line. I DON'T LIKE THIS.
Anyway, if we see a lot of rejection on this 143.00 level, a short would be considered.
We have had a big loss this week and we have to stick to the strategy.
Haven't sticked to the rules once every two months, and this fu**s the profits up.
I'm still learning, but can't wait for the...
Hello Ladies and Gents.. USDJPY is currently in a descending channel, simply look for a sell signal at the top descending channel trendline and the top of our current pattern trendline. Good luck and safe trading
Price is most likely going to correct to the top of our channel, once it does I will look for price to show a clear sign of reversal before placing a trade.
This a simple way of using MACD to predict impulses. These small blips (spheres) serve as buy signals. The blips form when corrections appear after impulses. So on our indicator window watch for a small blip into the red histogram and buy around the trendline. Good luck.
This week's play for the USD/CAD is to short USD as the Dollar index is looking to decline even further. Until the USD Index reaches next support level at roughly 100 even handle, or perhaps upper 99 levels, this potential cypher pattern should respond with the dollar to rebound off support. The fundamental picture of the market, in my opinion anyway, is the ECB...
