MikulovicFOREX

MikulovicFOREX

Here we see a hourly chart on pound vs yen forming a potential double bottom pattern at a previous support level. We are currently trading in a range of 75 pips. Divergence is also showing price falling on rising momentum on this timeframe: The daily charts show the same double bottom pattern forming : Im going to look for longs with stops just below 141...

MikulovicFOREX Updated 

I am really fascinated about how accurate these patterns truly are. Alot of people know about the mainstream harmonic patterns, few have heard about the exotic harmonic patterns, but most dont even know the basic abc setups. The dragon pattern is IMO one of the best setups to trade and should be taken every time it appears for high probability trades with good...

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Dragon patterns are mentioned by Surri Dudella in his 2007 book ''trade chart patterns like the pros''. One of his reviews says: Dont read this book - make money with it! His book consists of hundreds of trading techniques and one of those are the harmonic dragon pattern which is shown here. There are alot of ways to trade this pattern, but it is mainly defined...

MikulovicFOREX

Good time to update the charts on bitcoin Here we have a descending triangle which is a continuation pattern in a downtrend. Here we clearly see the price of bitcoin in a strong decline as defined downtrend with lower lows and lower highs. key resistance at the 38% projections at 7500 seems to hold. Profit targets for this chart would be at 6.7k but could...

MikulovicFOREX Updated 

The previous chart I shared on this instrument was the abc set-up that works pretty good most of the time. That being said, there is no kind of guarantee that price will move as mentioned. Always use equity stop losses that are realistic and ultimately at previous high or lows. Then manage the risk properly, use trailing stops or do soft profit taking at previous...

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As i shared in the previous chart on EU, I like to look for a retracement and follow up with the projections. If I see price find support below 38% im expecting a reversal of the impulse. If price finds support above 38% im expecting a continuation. To confirm a continuation of the impulse , I like to see resistance at 11% projections, which happened to be the...

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Merry Christmas everyone and happy holidays! Welcome to another analysis, this time on the EUR/USD pair I use fibonacci retracements to look for support/resistance levels. I prefer to see prices respect the fibonacci levels from start to end. What im looking for is a retracement of minimum 38%, once this criteria is met I begin to plot the fibonacci projections...

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This time im updating the chart on EURJPY. As you can see I spotted 3 potential harmonic patterns in the making on this particular pair. If you take a look at how price reacted to the completion point in the Gartley 886, you can clearly see the rejection and how sellers immediately took control of the market. Besides that, last week closing price took out the...

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God bless

MikulovicFOREX

This time on AUDNZD On the intraday level I am expecting a pullback towards the fibonacci confluence area around 1.043xx If you take a look on a daily chart you'll see that there are alot of gaps to be filled and huge upside potential for this pair. Going down to the 4h charts we see price action forming a weak bearish hammer candlestick pattern followed by a...

MikulovicFOREX Updated 

The 3 point fibonacci set-up failed and happened to find support at 88.6% AB which is the completion of a harmonic bat pattern. Here is the 3 point extension set-up: Potential profit targets for harmonic bat patterns: 38% 62% 100% 127-162% Thank you for reading the analysis and dont forget to like the chart. God bless

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After seeing alot of people preaching shorts in the chatroom, I decided to publish this chart. Considering the analysis we have on UJ and GU, the correlation will most likely be kicking in and cause a rally up in gold aswell. We see gold prices trading in a ascending channel, which defines the major and long term trend. We have a minor trendline by connecting...

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Here we see EURGBP in a descending channel with the sellers in full control, forming lower highs and lower lows adding selling pressure to the market. Now we are trading in a small expanding descending channel, suggesting that the sellers are stepping out and potentially booking their profits. This gives room for a bullish scenario, and im speculating that the...

MikulovicFOREX Updated 

Welcome to a weekly outlook on USDJPY. Here we are going to come up with a clear picture using my personal experience with technical analysis. I have spend countless of hours looking at charts, trying to come up with a reason for price movements. For a long time I thought, if you had the ability to forecast the markets, it would automatically turn you into a...

MikulovicFOREX Updated 

Filled at 109.400 as projected. Trade well done. Break of trendline attracts buyers into the market but fibonacci cluster at 109.642 suggests that the heavy resistance will push prices further down.

MikulovicFOREX

Taking another shot this time on USDJPY with a very tight SL just above the 76% resistance line. Looking to get liquidated around 109.400 God bless

MikulovicFOREX Updated 

I have anticipated the rise of New Zealand dollar versus US dollar using a weekly chart which I will share in the related ideas below. Due to the extreme rejection around 76% of ab leg, I am now expecting the resistance to kick in and drive a pullback towards 38% extension of abc, which is very close to the broken resistance and should now act as...

MikulovicFOREX Updated 

Here we see a chart very similar to the one I shared with GBPJPY Price failed to retrace above 50% of the AB leg, which signals a continuation of the trend. Momentum is already diverging with price We could potentially be looking at a ab=cd, but that is very optimistic More realistic profit targets would be: 1.348 (38% extension) 1.359 (61%...