ErfanParvini

ErfanParvini Updated 

After that huge move on last Thursday, we have been in a consolidation, essentially forming a wedge pattern. The base of the pattern comes at 1.10740, lining up with the previous resistance and 38.2 fib level, giving us nice area to look for potential long entry anywhere in that zone. For targets we could look for it at the previous structure highs around 1.12100...

ErfanParvini Updated 

Hello everyone. This analysis here is going to be a little bit different compared to my other approaches to the market, and that is simply because this is a different market than FOREX, and this is more of a investor type of analysis and approach to the market. I have been reading and hearing a lot about what's gonna happen next in the stocks market, so I thought...

ErfanParvini Updated 

So if you follow this pair, you might have already noticed that we have broken the daily uptrend line, beautifully came back up and retested it and got rejected. Market has stopped putting higher highs, and we are simply seeing the formation of lower low and lower highs. I ended up shorting right at the neck line after the formation of the head and shoulders...

ErfanParvini Updated 

We have been experiencing very slow days or rather weeks in the markets specially for the dollar pairs. Finally, as we got some movement in the AUD/USD today, there are couple of different setups. First, we do have a bat completion at 0.72400 area and RSI is OB. There is also a 2618 trade set up with RSI divergence which you could really short at the market since...

ErfanParvini Updated 

So we finally saw a movement in the market today, and as shown after that inverted head and shoulders, we have violated and closed above the previous highs. Currently in a consolidation, forming a flag pattern. We are likely to see another equal move to the upside all the way to 1.618 extension potentially up to the highs around 1.10555. However, we do have NFP...

ErfanParvini

I was just looking at the charts before going to bed, and I saw this, and I thought it worth sharing with you guys. Dollar index has broke and close below the key support level of 12062 area. The trend line which we are retesting right now, is probably the last possible resistance, and we break that, we might see a rather significant decline in Dollar Index. Also,...

ErfanParvini

And touching the channel resistance again! 1.618 of Fib lining up with channel resistance, and some global fundamentals are signaling short. Very aggressive entry, but I think it worth it. This is more of and investment type trade, and I don't expect to close that trade no sooner than than end of April. Good Luck!

ErfanParvini Updated 

Last week was a great week of trading, and I could bring in more than 650 pips, 450 only came from the EURJPY Bat pattern, thanks to BOJ rate decision, that I shared here on my page (I have it linked down here). However, I was doing my weekend analysis on my portfolio, and AUDUSD looks like a very nice trade for next week to consider. Now, I know the chart looks a...

ErfanParvini Updated 

EUR/JPY has completed a bullish bat pattern, at a MAJOR structure support level (you could see the significance of that level by simply going to Weekly and Monthly time frames and collapsing your chart). We are clearly seeing the pair is struggling to go lower and put lower low, lower closes, while all the other JPY pairs are just straight down. There is also a...

ErfanParvini Updated 

Bullish Cypher completing right at an important structure. As shown on the chart with the red rectangles, price action has recognized that level and reacted beautifully to it 5 times in the past. Now, if price action gets to that level again, and since that level is the completion point of a 80% accurate pattern, I would be interested to go long. Good Luck!

ErfanParvini Updated 

So I just took profit off of target 2 of the previous bat pattern. Now, if price action makes it up to 1.0876 level, there is a cypher completion along with a fib cluster and structure lining up right in a same area. Nice R-R ratio, I will be giving it a shot, and I thought I share that with you guys. Hope it works out and Good Luck!

ErfanParvini Updated 

What the market has done recently is breaking above and closing above both the trend line, and the previous structure highs on daily time frame. I have been watching this pair for getting a retracement, and getting involved on a trend following trade. Currently, the market has retraced and got itself out of OB condition looking at the RSI, and we now have 2...

ErfanParvini Updated 

ABCD completion right at structure, 1.414 Ext lining up , double top, and clear divergence on RSI, could be a great short back down to the previous support area at least. Good Luck!

ErfanParvini Updated 

5 Advanced patterns we took this week back to back, and they have been just phenomenon. This last one which we are currently involved in is a bull Cypher, and I hope it turns out profitable guys! Good Luck!

ErfanParvini Updated 

So I posted the short setup on GBP/NZD 26 days ago, which I have it linked down here as well, and I did end up shorting the market at 2.27380, shooting for the ABCD completion, and I closed the position just yesterday at 2.15697 with 1100+ pips of profit. However, we are now at a potential reversal zone, and we are likely to get at least a retracement back up to...

ErfanParvini Updated 

After ECB news we are now right back up at our trend line resistance. Since we did break and close below the previous structure before, I will expect the resistance level to hold and we continue down.

ErfanParvini Updated 

Beautiful bearish Gartley completing at the structure resistance level. If we can get up there it is a really good selling opportunity. Good luck traders!

ErfanParvini Updated 

After the massive bearish move of this pair during the past days, we are now experiencing a retracement and coming back up right at the previous support and trend line resistance is ahead too. RSI is out of OS territory, and there is a good opportunity to get involved for you guys that did not get involved before. We should continue down to the 61.8 Fib at the...