Mikoxl.

Mikoxl.

The pair bounced off of the last line of defence of the PRZ of the bearish crab @ 2.1418 (3.618% extension) and is heading back to 2.07207 to find support at the 50% correction of 2008. It is possible that this pair will consolidate for a bit between these two levels after several months of trending up. For now, I have several reasons to long this pair: - a...

Mikoxl.

Reading the chart After the pair broke out to the upside, it came back to test the broken channel. Now, this breakout represented itself as a completed harmonic pattern: the alternative bat. Also, the RSI (7) is heavily oversold and comparing this strength with the previous low (close) it tells me that the bears were sold out too soon. Therefore, this could mean...

Mikoxl.

Aggressive entry I took almost the high of this potential long legged doji with a Shark113 short @ 2.1000. I consider this level as the higher zone of the PRZ of the bearish crab. I will post another logchart with all my trades within this PRZ of the bear crab. Testing Thus far, each level of the PRZ has tested: - XA 1.618% extension / BC 2.618 extension - BC...

Mikoxl.

Line of sight A butterfly wants to fly. But wait..is it a Shark waiting to take a bite? Going up to fast The butterfly is going up (too) fast. Or is it? Signals RSI (7) is going too fast compared to how much it is retracing.. If it is heavily oversold at the first line of defence, this could be another trend following setup.. If it is heavily oversold at...

Mikoxl.

Overextended with a 1.113 extension After the final breakout, the pair tried to extend even further. However, this extension did not hit the 2.0705. This tells me that this pair is done extending for now. Retracement/Correction Therefore I shorted this market from 2.0504 hoping for a retest of the psychological level 2.000. Trade setup long:...

Mikoxl.

Consolidation.. This pair got stuck in a triangle after a big push up. The broken midline of the longer term uptrend channel still acts as support. Counting with the Elliot triangle wave a C point has been established. Bearish Gartley pattern Measuring the moves from point B, we can also see that this pair is confirming a Gartley pattern. The completion point...

Mikoxl.

Stuck in triangle, counting the Elliot waves This pair got stuck in a triangle after a big push up. The broken midline of the longer term uptrend channel still acts as support. Counting with the Elliot triangle wave, you can see that a C point has been established. Shortterm short with a bearish Gartley pattern Measuring the moves from point B, we can also see...

Mikoxl.

Bearish deep crab This potential bearish deep crab has a very large reversal zone. It starts from 2.0744 (2.618 extension of BC) and ends at 2.1418 (3.618 extension of BC). However, this PRZ can be capped by the channel, the very high of 2009-7-10 and the (psychological?) level at 2.1000. If the pair heads up to this PRZ, I expect the pair to be volatile. The...

Mikoxl.

Trade cancelled After missing the entry, the pair retraced 38,2%. Bigger picture Over the past two weeks this pair has consolidated between 140.72 and 138.00. These two levels are: - a weekly structure zone @ 61.8% retracement (140.72) - a midline of an monthly upward channel. (+/-138.00 and rising) Trade setup If the pair won't go beserk with the...

Mikoxl.

I use the harmonic alternative bat in conjunction with channel as my entry technique to go long. With this entry I'm taking an agressive CD leg of the AB=CD pattern. Also, RSI is showing sold out conditions at the 4H. The Daily chart is showing a tap to the midline of the Bollingerband and a RSI stalling at the 50. My stops will go below 0.7213. Still the risk...

Mikoxl.

A little too late for the post. But I'm fading the breakout with a shark886 pattern with my rules as a forward test. UPDATE Target 1 was hit at 0.7829. Stoploss has been set to breakeven

Mikoxl.

The idea behind this trade is to catch at least a proper test of the bottom of this temporary channel. I take this trade with the shark886 pattern which gives me a nice risk:reward ratio of 1 to 1.49.

Mikoxl.

Deep gartley short (4H)

Mikoxl.

Initial breakout failed of the the triangle. Now I wait for the price to retrace 0.786% of the initial breakout move at 118.916 At 118.916 I will go long with the completion of the Cypher pattern. Since this setup is in anticipation of a real breakout, I will be shooting for extended targets at 121.62

Mikoxl.

Shark113 short 4H, trading the retest

Mikoxl.

In my previous post "Stophunters at the ready.." I was expecting a bullish bat formation. The breakout appeared to be false and the market was already pricing in another rate cut of the RBA. (see note 1 on the cart). However, the RBA decided not to cut the rate recently. And sure enough, the market failed to continu its path to the north. (see note 2 on the...

Mikoxl.

The markets appears to be trending within an 3 drive uptrend channel. However, when drawing some fibs from March 2013, I saw the 0.236 retracement level has not been touched yet. So this got me thinking.. If i was a BIG investor/trader with lots of money, at which levels should I be looking at? Well, drawing in some more fibs from 2014-09, 2014-11, 2015-01 i...

Mikoxl.

Reading daily price action There was a significant selloff at the end of the 3rd bullish candlestick. The bears even pushed the price lower than the previous bullish candlestick. On that same day the bulls tried to regain control, but were unable to close at the opening of that day. This resulted in a hanging man. The day after on friday the 20th of March the...